Expolanka Holdings reports Rs 21.1 bn revenue for quarter | Page 3 | Daily News

Expolanka Holdings reports Rs 21.1 bn revenue for quarter

Group CEO of Expolanka Holdings PLC, Hanif Yusoof
Group CEO of Expolanka Holdings PLC, Hanif Yusoof

Expolanka Holdings PLC reported a revenue of Rs. 21.1 billion (growth of 23% YOY) for the quarter primarily driven by the performance of its logistics sector.

The company also announced that gross profits for the quarter had increased by 34% YoY to Rs. 3.7 billion while the group’s Profit After Tax (PAT) posted a healthy growth rate of 24.6% YoY up to Rs. 426 million during the same period, in line with

During the 3rd Quarter, Expolanka’s logistics sector contributed Rs. 20 billion towards group turnover, reflecting growth of 36% YoY, with the sector’s air and ocean freight businesses posting impressive growth of 38% and 24% respectively.

Consequently, the logistics sector’s Gross Profits expanded by 42% YoY to Rs. 3.4 billion during the quarter and YTD Gross Profit of Rs. 8.6 billion, up by 19% YoY, despite continued pressure on margins.

Efforts to improve procurement and introduce greater efficiency enabled improvements in profitability within the logistics sector despite higher freight rates prevalent during the quarter, leading to a PAT of Rs. 522 million during the quarter, reflecting growth of 25% YoY.

All key trade lanes performed to expectation during the quarter with increased outbound volumes being recorded from the East-Asian markets; while efforts to enhance South Asia – USA trade lanes are already showing positive results.

The Warehouse operations continued to show improvements delivering sustainable earnings driven by a focus on building operating scale and efficiencies

Similarly, Expolanka’s leisure sector continued to extend its strong performance over 3Q17, posting turnover of Rs. 274 million and gross profits of Rs. 246 million to conclude the quarter with a PAT of Rs. 40 million and a YTD PAT of Rs. 148 million.

Meanwhile, the group’s investment sector, which includes the group’s perishable export operations contributed a further Rs. 671MN towards group turnover.

The sector recorded a loss during the quarter primarily attributed to the cost of shared services provided by the corporate office, which functions as a strategic and support service centre to the group. 


 

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