Expolanka Holdings PLC announced an impressive first quarter results, aligned with its ambitious plan to further accelerate the company’s growth momentum in the future.
Primarily fueled by its global logistics business, group turnover expanded by 25% Year-on-Year (YoY) up to Rs. 19.8 billion while a continuous focus on streamlining global procurement functions enabled further stabilization in gross profits which expanded by 46% YoY up to Rs. 3.9 billion during the period in review.
This continuous consolidation of Expolanka’s core business culminated in improvements to the group’s bottom line, which posted Profit After Tax of Rs. 282 million in 1Q19, reflecting an annual growth rate of 11%.
“Over the course of the coming financial year, we aim to continuously bolster performances while capturing and exploiting new business opportunities in order to lay the foundation for an expanded local and global presence,” Expolanka Group CEO, Hanif Yusoof said. Over the last quarter, the group’s logistics sector continued to provide the strongest contributions to top-line performance, generating a 29% YoY improvement in revenue up to Rs. 18.9 billion, supported by strong growth in its core Air Freight operations and stable growth from its Ocean Freight operations.
Consequently, Expolanka’s logistics segment posted an impressive 50% YoY improvements to Gross Profits, which expanded to Rs. 3.6 billion despite a relatively challenging and competitive market environment, where the industry was faced with capacity constraints and pricing pressure.
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