Expolanka Q1 Net Profit Rs.194 m

Expolanka Holdings recorded a revenue of Rs. 12,388 million and a net profit of Rs.194 million for the first quarter of the financial year 2014/15.

The recorded Net Profit attributable to Equity holders of the Group was Rs. 173 million in comparison to the Rs. 323 million recorded during the corresponding period last year.

Hanif Yusoof, Group CEO and Executive Director, Expolanka Holdings PLC said "As a group we are at the threshold of a new and an exciting phase in our journey. During this quarter we finalized a strategic deal with SG Holdings Japan which acquired a controlling stake in the Group amounting to 51.43 percent. SG Holdings, a leading logistics company in Japan has a robust presence in the Asian Region as well as considerable expertise in express services and transport. In this context, we plan to achieve sustainable growth and develop our international business presence in the long term with special focus on our core portfolio of businesses, with a particular emphasis on Freight and Logistics.

Earnings from the Freight and Logistics sector for the first quarter recorded a revenue of Rs. 8, 598 m. The sector growth remained flat due to less than expected yield in the Far East which affected the profit margin. Performances in Bangladesh and India dampened results due to volatile market conditions that are not conducive to growth. 

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