Aitken Spence profits up by 51 % to Rs. 2.1 bn

Blue-chip conglomerate, Aitken Spence PLC posted a pre-tax profit of Rs. 2.1 bn for six months ended 30 September 2012, an increase of 51.5 per cent from the corresponding period last year.

D. H. S. Jayawardena Chairman of Aitken Spence

The impressive half-year results released to the Colombo Stock Exchange on Wednesday show a rise of 40 per cent in group revenue to Rs. 18.6 bn.

Profit attributable to shareholders increased by 53.4 per cent to Rs. 1.37 bn while earnings per share rose by 53.4 per cent to Rs. 3.38, over the corresponding period.

Aitken Spence is among Sri Lanka's leading and most respected corporate entities with operations in South Asia, the Middle East and Africa. Listed on the Colombo Stock Exchange since 1983, it is an industry leader in hotels, travel, maritime services, logistics, power generation and printing. The diversified group has a significant presence in plantations, financial services, insurance, information technology and apparel.

"Aitken Spence profit before tax has grown by over 50 per cent for the first six months of the financial year. Our growth has been fuelled by an outstanding performance by our tourism sector" said D. H. S. Jayawardena, Chairman of Aitken Spence PLC.

"We strongly believe that given the right conditions to operate, the private sector in Sri Lanka could be the primary driver for sustained high growth in the Sri Lankan economy.

We welcome the steps undertaken and promised by the government to encourage private sector investment in the country", Jayawardena added.

He further stated, "In the present global context of turbulence and uncertainty, we see a clear opportunity for Sri Lanka to position itself strongly as a preferred destination for high-value travellers.

Hence, we believe that a robust private sector-led destination promotion strategy that underscores the country's unique set of diverse attractions would help Sri Lanka's brand positioning internationally".