Access Engineering records 84 % growth in PBT
Access Engineering PLC, the leading value engineering solutions
provider in Sri Lanka, recorded an impressive growth in both top line
and bottom line as per the financial results released to the Colombo
Stock Exchange. Turnover for the six months ended 30th September 2012 of
Rs.6,057 million and Rs. 4,784 million has recorded a growth of 131 %
and 88 % at group and company level over the corresponding period of
last year.
At company level, the highest contribution to revenue was from the
highways construction sector followed by building construction and
production income sectors. This growth in top line has resulted in the
company reporting a before tax profit of Rs. 973 million and Rs. 823
million which is a growth of 84 % and 74 % at group and company level
compared to the corresponding period of last year. Embarking on the
theme of ‘Capacity Building’ which is earmarked, during the 6 months
ended the company has made further investments amounting to Rs.551
million in property, plant and equipment.
The company declared a dividend of Rs. 0.25 per share for the year
ended March 31, 2012 which was paid in June 2012. Operating activities
of the company have generated a net cash inflow of Rs. 936 million with
the net cash outflow from investing activities amounting to Rs.950
million mainly due to capacity building initiatives that were undertaken
by the company. Access Engineering has successfully completed many
landmark infrastructure projects in the island and their growth rate
over the years is unprecedented for a major and specialist civil
engineering company in Sri Lanka.
Access Engineering is armed with some of the best talent in the
industry which presently stands over 3,000 employees including over 150
engineering professionals, cutting-edge engineering solutions, core
engineering services that is complemented by an in-house design unit and
a modern fleet of specialized machinery and equipment. |