Sri Lanka Aitken Spence June net up 50-pct

Minister appoints Dr Swaminathan to IPACSL as Chairperson

Aug 03, 2010 (LBO) – Sri Lanka’s Aitken Spence group net profit in the June 2010 quarter rose 50 percent to 440 million rupees from a year ago, a stock exchange filing said. “We have aggressive plans to strengthen our tourism interests in the island to position Sri Lanka as a high-end sustainable tourism destination, Brito said. The group’s local tourist resorts improved their performance while its Maldivian hotels trimmed losses, it said.

Sales rose 12 percent to 5.7 billion rupees. Earnings per share rose 50 percent to 16.24 rupees from 10.86 rupees.

Our tourism sector performed stronger during the quarter with the Sri Lankan leisure segment reporting an improved performance compared to last year, despite Neptune Hotel being closed for renovation,” Deputy Chairman and Managing Director Rajan Brito said.

“We have been able to trim our losses in the Maldives leisure segment, where the industry is still recovering from the downturn.

Brito said the group’s hotel investments in Sri Lanka has positioned it strongly to reap the benefits of the tourism upturn after the end of the 30-year ethnic war in May 2009.