(Srilankamirror) – Profits at Sri Lanka’s Aitken Spence group rose 93 percent to 1.76 billion rupees in the March 2012 quarter helped by strong leisure performance and other income, interim accounts showed.
The group reported earnings of 4.33 rupees per share for the quarter. For the year to March 2012, the group reported earnings of 9.14 rupees per share on profits of 3.7 billion rupees, up 46 percent from a year earlier.
In January the firm sold its stake in a port container terminal at a profit of 655 million rupees.
Revenues in the March quarter rose to 9.5 billion rupees from 6.7 billion rupees. In the full year revenues rose 30.1 billion rupees from 24.7 billion a year earlier.
The group said the tourism sector recorded pre-tax profits of 2.6 billion rupees bringing about half of group profits.
“The highest contributor towards the sector’s growth was the Group’s resort properties in the Maldives,” Aitken Spence said in a statement.
“The results followed a strategic revision of our operations in the Maldives, taking into account the present market realities and trends.”
Profits at Sri Lankan hotels were flat because several were closed for refurbishment.
Logistics had brought 853 million rupees in pre-tax profits up from 594 million rupees a year earlier.