Aitken Spence group turnover up 33.4% to Rs. 12.5 billion

Aitken Spence released its second quarter financial results to the Colombo Stock Exchange on Tuesday, reporting Rs. 1.24 billion as profit before taxation and Rs. 757.3 million profit attributable to the shareholders during the first six months of operation, a growth of 18.7% and 16.5%, compared to last year.

Group Turnover increased significantly by 33.4% to Rs. 12.5 billion up from Rs. 9.4 billion last year. Sri Lanka's hotel industry is yet suffering from the political and economic situation in the country. Whilst dealing with these adversities to a certain extent, this quarter's performance has improved slightly with an increase in occupancies of the local hotels.

The performance of the group's Maldivian Adaaran brand also contributed to the growth in the profits of the tourism sector.

Reflecting on this growth, Deputy Chairman and Managing Director of Aitken Spence PLC J M S Brito said "Our growing presence in the Maldives and India reflects our commitment to being a strong player in the regional hospitality industry in the near future.

Whilst concentrating on our efforts to build Sri Lanka as a key tourist destination we are confident that our overseas expansion will not only benefit us as a company but the benefits will be felt as a nation through a significant enhancement of skills and experience.