Aug 31, 2011 (LBO) – New freight forwarding businesses in east Asia helped improve sales and profits for Sri Lanka’s Expolanka Holdings, which aims to further expand overseas and penetrate emerging markets. The group is looking at expanding by increasing its overseas stations and penetrating developing markets and also buying small and medium-sized freight companies The newly listed group set up two ventures, Expo Freight Vietnam and PT Expo Unipara, Indonesia in the last year in line with its regional expansion strategies to consolidate its freight forwarding business.
In transportation, the group’s biggest business, sales in the year ended March 31, 2011 rose 52 percent to 18 billion rupees and net profit shot up 106 percent to 1.3 billion rupees from a year ago, the company told shareholders in its annual report.
New transportation businesses with high margins contributed to increased profits for the group which has freight forwarding subsidiaries in 12 countries.
Transportation contributed 56 percent of Expolanka group sales with freight operations contributing 79 percent of revenue and general sales agencies and travel business the balance.
“The significant revenue increase from t