Sri Lanka Aitken Spence December 2014 net down 19-pct

Feb 12, 2015 (LBO) – Profits at Sri Lanka’s Aitken Spence group fell 19 percent to 869 million rupees in the December 2014 quarter, interim accounts showed.

The group reported earnings of 2.14 rupees per share for the quarter. For the nine months to December 2014, the firm reported earnings of 5.41 rupees per share on profits of 2.1 billion rupees, which fell from 2.3 billion rupees a year earlier.
The company who has interests in leisure, logistics and power, reported 8.9 billion revenue in the December quarter compare to 10.4 billion rupees revenue in the same period of last year.
In the nine months to December revenues rose 28.8 billion rupees from 26.5 billion a year earlier.

The group said in the 9-months profits from the tourism sector rose marginally to 2.0 billion rupees from 1.99 billion a year earlier while profits of logistics fell to 416 million rupees from 441 million.

Profits from service sector which includes printing and apparel well to 86 million rupees from 138 million rupees.

Aitken Spence has hotels in Sri Lanka, the Maldives, India and Oman.