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Highest-Ever 3Q Profit Before Tax For Aitken Spence PLC 
Posted 16,February

By Chaveendra Dunuwille

In Local News

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Highest-Ever 3Q Profit Before Tax For Aitken Spence PLC 

A diverse and agile organization strategy has allowed Aitken Spence PLC to  achieve its best-ever 3Q performance. 

The group’s PBT for 3Q22 was reported at LKR 3.3 billion, with the group’s  businesses, including the tourism sector, gaining momentum. The group’s  earnings before expense, interest, tax, depreciation, and amortization (EBITDA)  stood at LKR 5.2 billion, compared to the LKR 1.2 billion reported in 3Q21. The  company recorded an EBITDA of LKR 9.8 billion for the 9-months ending on  December 31st, 2021. 78% of the 3Q PBT was from the company’s overseas  businesses. 

Aitken Spence’s tourism sector reported a PBT of LKR 1.6 billion, compared to  the loss of LKR 1.6 billion the previous year. During this time, Aitken Spence Travels facilitated the first charter operation to Uzbekistan, opening a brand new  source of tourists to Sri Lanka. 

The Maritime and Freight Logistics sector recorded a PBT of LKR 1.1 billion, with  the freight management and linear shipping segments acting as the primary  contributors. 

The 3Q also saw Aitken Spence’s strategic investment and service sectors record  PBT’s of LKR 181 million and LKR 91 million. The sector’s performance was  boosted by acquiring a waste-to-energy power plant and three hydropower plants  the previous year. 

The group’s PBT in the 9-months ending on 31st December 2021 was an  impressive LKR 3.3 billion, compared to the 2019-2020 PBT of LKR 2.4 billion. 

The post-tax earnings for the quarter under review were recorded at LKR 1.8  billion (LKR 4.53 per share), compared to a loss of LKR 334 million. 

According to Aitken Spence’s Deputy Chairman MD Parakrama Dissanayake,  the performance in the 3rd quarter reflected the group’s resilience and  perseverance.