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Aug 11, 2010 (LBO) - Lanka Ashok Leyland, an Indo-Lanka joint venture importing and assembling buses has reported a sharp increase in profit and sales as post-war demand increases demand for passenger transport. The government-owned Lanka Leyland has a 41.77 percent stake in Lanka Ashok Leyland and Ashok Leyland of India a 27.85 percent stake with 30 percent held by the general public. The company said in a stock exchange filing that June 2010 quarter net profit soared 701 percent to 157 million rupees from a year ago with earnings per share rising to 43.37 rupees from 5.41 rupees the previous year.

Total sales shot up 286 percent to 1.

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8 billion rupees with revenue from new vehicle sales up 296 percent to 1.7 billion rupees while vehicle repair income was stagnant at 15 million rupees.
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Vehicle spare parts sales also rose, up 137 percent to 91 million rupees in the June 2010 quarter from the previous year.

Sri Lanka's 30-year ethnic war ended in May 2009 triggering an economic revival with growth forecast at seven percent this year.

The re-opening of a key highway to the northern Jaffna peninsula as well as roads to the east, where the war was largely fought, has prompted demand for more b

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