Ambeon Holdings PLC recorded an impressive growth throughout the 2018/2019 financial year as per the financial results released to the Colombo Stock Exchange recently.
The diversified Group posted impressive financial results during 2018/2019, starting with the Holding Group posting a PBT of 1.25 billion for 2018/19, almost 118% growth when compared to its 2017/18 PBT of Rs. 571 million.
The operating cashflow before working capital changes surpassing Rs. 1.39 billion was achieved during the reporting year when compared to Rs. 918 million, a growth of 52%.
The Group further recorded revenue surpassing Rs. 17.73 billion compared to that of Rs. 12.27 billion in 2017/2018, which was a whopping growth of 45%. Group Profit After Tax (PAT) was Rs. 864.5 million, a growth of 27% when compared to the Rs. 681 million recorded last year.
The manufacturing cluster comprising Porcelain, Textile and Lather continued to lead the contributions with a healthy 62% towards the group revenues, followed by the technology cluster which accounted for 37% with financial services and strategic investments making up for the rest in a volatile market situation.
“Ambeon Holdings is now well poised and financially stable to compete among the elite conglomerates in the country,” A G Weerasinghe, Chairman - Ambeon Holdings PLC said.
“The FY 2018/19 marked the transformation of the Group in our journey to build on our foundation of re-engineering success. As a dynamic and diversified Group of Companies, Ambeon Holdings have reaped the benefits of positive transformation through its financial results as reported, which act as testimony to achievement. True to our commitment, we will continue our journey to enhance the overall wealth and value creation of our shareholders and all other stakeholders beyond ambition,” Weerasinghe concluded.
These impressive results in 2018/2019 came at the end of a financial year marked by renewal, as well as a number of future centric positive changes, that spanned the Group.
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