MTD Walkers PLC posted a net profit of Rs. 370 million, recording an impressive growth of 96% for the first quarter FY 2014/2015 when compared to the first quarter of the previous financial year. Group revenue for the period grew by 76% to Rs. 3.3 billion.
Due to the drop in the market lending rates and the introduction of an effective financial management policy, the Group was able to reduce its finance cost by 4.7% for 1Q when compared with the previous year whilst the earnings per share for the three months ended June 2014 was Rs. 2.46.
Commenting on this record-breaking performance, MTD Walkers’ Group Executive Deputy Chairman Jehan Amaratunga said: “MTD Walkers was able to achieve this milestone by capitalising on the synergies between the Group’s subsidiary companies. We have effectively harnessed the Group’s expertise to become a fully integrated infrastructure and engineering solutions provider within Sri Lanka’s rapidly growing construction sector.”
Amaratunga added: “While the Group’s focus on service delivery and expertise was a significant competitive advantage in growing the order book to attract large-scale projects, we will in the future continue to remain focused in order to ensure that all our stakeholders benefit from our underlying philosophy of timely delivery of quality, responsibly.”
www.ft.lk
Due to the drop in the market lending rates and the introduction of an effective financial management policy, the Group was able to reduce its finance cost by 4.7% for 1Q when compared with the previous year whilst the earnings per share for the three months ended June 2014 was Rs. 2.46.
Commenting on this record-breaking performance, MTD Walkers’ Group Executive Deputy Chairman Jehan Amaratunga said: “MTD Walkers was able to achieve this milestone by capitalising on the synergies between the Group’s subsidiary companies. We have effectively harnessed the Group’s expertise to become a fully integrated infrastructure and engineering solutions provider within Sri Lanka’s rapidly growing construction sector.”
Amaratunga added: “While the Group’s focus on service delivery and expertise was a significant competitive advantage in growing the order book to attract large-scale projects, we will in the future continue to remain focused in order to ensure that all our stakeholders benefit from our underlying philosophy of timely delivery of quality, responsibly.”
www.ft.lk
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