By J. Kurukulasuriya
Ceylon FT: Aitken Spence Hotel Holdings Plc., a member of the Aitken Spence Group, reported a group profit of Rs 1,668 million, a 28% improvement on the corresponding previous period, interim results for the 9 months to 31 December 2013 show, even though six months of the period under review related to the off season of the tourism industry both in Sri Lanka and overseas.
Other comprehensive income showed a foreign currency translation difference of Rs 171 million as compared to a loss of Rs 59 million in the previous corresponding period. Consolidated net Revenue was up 11% to Rs 8,504 million, and came mainly from the South Asia sector of the company's hotels. The company has entered into a Shareholder Agreement with RIU Hotels of Spain to build a 500 rooms five-star luxury resort in Ahungalla costing approximately US$ 100 million. 'Other operating income' of the group was up 1,198% to Rs 80 million, while expenses did not show marked increases. Net finance income was up 384% to Rs 32 million, from a negative of Rs 11 million previously.
The stated Capital of the Group stood at Rs 3,554 million, while reserves and retained earnings were Rs 10,432 million, up by 11% since the last audited Balance Sheet date of 31 March 2013.
The share price fluctuated between a high of Rs 74.80 and low of Rs 62.10 during the quarter ended 31 December. The percentage of shares held by the public as at 31 December 2013 was 25.39%.
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Aitken Spence Plc is the largest shareholder with 71% of the share capital, while the Employees Provident Fund holds nine per cent and Sri Lanka Insurance Corporation two per cent.
Ceylon FT: Aitken Spence Hotel Holdings Plc., a member of the Aitken Spence Group, reported a group profit of Rs 1,668 million, a 28% improvement on the corresponding previous period, interim results for the 9 months to 31 December 2013 show, even though six months of the period under review related to the off season of the tourism industry both in Sri Lanka and overseas.
Other comprehensive income showed a foreign currency translation difference of Rs 171 million as compared to a loss of Rs 59 million in the previous corresponding period. Consolidated net Revenue was up 11% to Rs 8,504 million, and came mainly from the South Asia sector of the company's hotels. The company has entered into a Shareholder Agreement with RIU Hotels of Spain to build a 500 rooms five-star luxury resort in Ahungalla costing approximately US$ 100 million. 'Other operating income' of the group was up 1,198% to Rs 80 million, while expenses did not show marked increases. Net finance income was up 384% to Rs 32 million, from a negative of Rs 11 million previously.
The stated Capital of the Group stood at Rs 3,554 million, while reserves and retained earnings were Rs 10,432 million, up by 11% since the last audited Balance Sheet date of 31 March 2013.
The share price fluctuated between a high of Rs 74.80 and low of Rs 62.10 during the quarter ended 31 December. The percentage of shares held by the public as at 31 December 2013 was 25.39%.
www.ceylontoday.lk
Aitken Spence Plc is the largest shareholder with 71% of the share capital, while the Employees Provident Fund holds nine per cent and Sri Lanka Insurance Corporation two per cent.
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