Aitken Spence shows modest profit growth
Second quarter financial results of Aitken Spence PLC released to the
Colombo Stock Exchange on Tuesday, revealed Rs 1.24 b as
profit-before-tax for the six months ended 30th September 2008. The
diversified conglomerate disclosed Rs 792.4 m as profit attributable to
the shareholders, a growth of 4.6 per cent, compared to the same period
J M S Brito
Group Turnover has increased by 18.6 per cent to Rs 14.8 b, up from
Rs 12.5 for the corresponding period last year. Earnings per Share
increased 4.6 per cent from Rs 27.98 to Rs 29.28.
Deputy Chairman and Managing Director J M S Brito said, The
contribution from the Maldivian sector has reduced in the second quarter
due to refurbishments taking place in the Adaaran Resorts chain. The
impending global recession and high-energy costs has adversely affected
the leisure sector further.
Aitken Spence Hotels and Resorts announced the addition of Hotel
Atithi in Puducherry to its portfolio of hotels in India. Aitken Spence
presently manages four other resorts in India and 4 resorts in Oman. It
is envisaged that the company will have around ten hotels under its
portfolio in South India alone within the next year.
During the period under review, as further testament to the company’s
green credentials, Heritance Ahungalla and Heritance Kandalama bagged
the top two awards under the Services category at the National Cleaner
Production Awards 2008, organized by the National Cleaner Production
Centre (NCPC). Heritance Ahungalla was also awarded for Excellence in
Water Efficiency and Excellence in Energy Efficiency. Heritance
Kandalama and Ramada Resort, Kalutara also managed by Aitken Spence
Hotels received Certificates of Merit for Energy Efficiency, Brito
commenting on the recognition said:
“Regardless of industry downturns or upturns, we commit ourselves to
continuously raise our standards in all aspects of our operations. It
remains true to our best practices in environmental and social
governance as well. We will continue to share our experience and
expertise to local and international for a” Aitken Spence secured agency
for Kingfisher Airlines, one of India’s fastest growing private
airlines. Commencement of flight operations is expected during the third
South African port operations have expanded its activities by
entering into a contract with the National Ports Authority of South
Africa (NPASA) to introduce global best practices in marine operations.
Aitken Spence has also commenced a project on business process
re-engineering with a view to increase capacity within NPASA.