Lankapage Logo CP 22 YEARS
Go Home Home Serving the Sri Lankan community globally since 2000
go to

Leading News from Sri Lanka::

* Expolanka Holdings PLC records sustained growth in Q1 FY23
Mon, Aug 1, 2022, 11:55 am SL Time, ColomboPage News Desk, Sri Lanka.

Aug 01, Colombo: Expolanka Holdings PLC, Sri Lanka’s leading listed entity with interests in logistics, leisure and Investments, having a global presence in 34 countries and over 70 cities announced their financial performance for the quarter ending 30th June 2022 presenting strong results maintaining its growth momentum over the last several years.

Backed by strong strategy execution and focus on fundamentals, Expolanka Holdings PLC was able to post a Revenue of Rs. 235.1billion (YoY +146%), a Gross Profit of 36.9billion (YoY +156%) and a Profit after tax of Rs. 20.1billion (YoY +220%) for the quarter.

Speaking with the Group CEO, Expolanka Holdings PLC – Hanif Yusoof stated: “Our asset lite business model, international network, balance sheet strength, our unified approach to business and our strong leadership team makes Expolanka Holdings PLC a unique value proposition to all our stakeholders.

The group continued to generate strong returns, delivering an ROE of 96.16% on a trailing twelve month (TTM) basis, reflecting the enhanced operating leverage and the efficient asset utilization strategies adopted by the group.

The depreciation of the Sri Lankan rupee resulted in an exchange gain of Rs. 6.9billion whilst increasing the Net Asset Value of the company by Rs. 25billion for the quarter. This is further evidence of the group’s business profile and its balance sheet which has been built over the last several years.

In spite of the global market conditions and traditional off peak demand patterns, the Logistics sector was able to exhibit the potential of its operations, with focused execution of strategy enabling the sector to deliver consistent growth during the quarter under review, resulting in a revenue of Rs. 233.0billion (YoY+146%), a gross profit of Rs. 36.2billion (YoY +154% YoY) and a PAT of Rs. 18.8billion (YoY +183%).

Further, Yusoof stated: “The multi-pronged approach to our business has been centered on generating volumes through customer centric approach, building capacity through sound procurement practices and supporting business through efficient operational excellence” He further noted that the customer expansion strategy has been well thought out, resulting in the company servicing several leading brands across key industry verticals.

The Air Freight product saw volumes tailing off during the quarter, a result of lower demand witnessed across its key markets. Whereas the Ocean Freight product continued to gain traction and delivered satisfactory growth during the quarter under review. This steady growth is a result of the increased emphasis placed on this segment. A vibrant partner network, increased customer penetration, enhanced competencies helped the ocean freight product maintain its strong momentum.

Whilst focusing primarily on its international freight forwarding business, EFL has been able to enhance its capabilities across its domestic logistics portfolio in key locations particularly in the North America market.

The proactive procurement strategy implemented by the group built capacity and stabilized margins. Strengthening existing relationships and building on new carrier relationships took priority for the procurement function.

Concluding, Yusoof stated: “Global market conditions remained volatile during the period under review. Consumer demand was tempered in our North America market, a result of potential Inflationary impacts, whilst the global energy crisis resulted in increased pressure on oil prices. Extended lockdowns in China resulted in reduced supply and further intensified supply chain pressure. Correction in freight rates were visible across both Air & Ocean Freight as capacity returned to the market, albeit still at elevated levels.”

The Leisure Sector delivered a strong performance for the quarter despite the challenges experienced in the local market. The results reflect the efforts undertaken by the business to reorganize its portfolio, adopting a lean and efficient operating model and leveraging its capabilities as the leading travel brand in Sri Lanka. The Sector delivered a Revenue of Rs. 727 million (YoY + 379%) and a Profit after Tax of Rs. 233 million (YoY +736%). Historically, this is the best performance by the sector, with the Corporate Travel portfolio driving the results.

The Investment Sector remained steadfast recording a revenue of Rs. 1.4billion (YoY +100%) and a Profit after Tax of Rs. 17.3 billion (YoY +608%) with the main contribution from the export operations. The sector profits include group dividends of Rs. 16.0billion. The portfolio strategy of moving into high-margin products with less volatility is driving the growth of the sector. The IT business, too, is gaining ground with improved contributions to the overall performance of the group.

Reflecting its holistic approach to business, Expolanka continued to place emphasis on Environmental, Social, and Governance initiatives (E.S.G), the Group has adopted several proactive practices which are aligned with its overall strategic objectives.

Given the uncertain market conditions, the macro environment is expected to evolve, particularly with changing consumer demand patterns, nimble supply chains and increased digitization. As a company, Expo will remain committed to meeting these challenges whilst moving forward to take advantage of opportunities with the single focus of creating value for all its stakeholders.


ColomboPage - Recent 10 Stories ::
Full commitment of the public service is essential to an independent judicial process, state officials informed
-- [1 hour and 52 minutes ago]
Power cuts extended from tomorrow after Norochcholai breakdown
-- [3 hours ago]
SLC Executive Committee sends LOD for Rs. 2Bn to Arjuna Ranatunga for making ‘derogatory’ remarks
-- [3 hours ago]
Committee on High Posts approves the appointments of five Secretaries to Ministries and one Ambassador
-- [3 hours ago]
Three locally produced medicines released to the market
-- [4 hours ago]
S&P Global downgrades Sri Lanka Bonds to ‘D’ after missed payments; sovereign ratings affirmed
-- [5 hours ago]
India and Sri Lanka are two sides of the same coin, have to build on the commonalities – President
-- [5 hours ago]
India hands over gifted Dornier maritime surveillance aircraft to Sri Lanka
-- [6 hours ago]
Sri Lanka signs agreement with World University Service of Canada for 7-year Volunteer Cooperation Program
-- [7 hours ago]
Aragalaya activist Dhanish Ali granted bail

Copyright © 2000, 2020 by (LLC) :
The news and other contents on ColomboPage are copyrighted property of, LLC. Any unauthorized use of any information on ColomboPage may constitute a violation of copyright laws. You need written permission to reproduce, republish, post, transmit, broadcast or distribute, material from this site from, LLC. However, news organizations or broadcasters in Sri Lanka may republish the news items in ColomboPage with proper acknowledgment to ColomboPage.