Lanka Ashok Leyland (LAL) ended the year with a profit after tax of Rs 331.7mn, a 102% increase from 2013.
The market leader for heavy commercial vehicles in Sri Lanka capped a stellar year with an impressive dividend of Rs 40.00 for financial year 2014. The dividend declared represents a 700% increase over last year’s dividend announcement and reflects the remarkable progress made over the past year.
Lanka Ashok Leyland CEO Umesh Gautam said the automotive sector has seen a bit of volatility over the past few years and our company is no exception. Having steered through some of the stormier waters this 700% increase in the dividend, despite a 102% increase in profit, reflects our sincere appreciation to our shareholders for their unwavering support and trust in us over these years. We consider ourselves very fortunate to have excellent stakeholders and partners who have placed their faith in us and this dividend is our way of giving back to those who continue to stand by us.”
“We take great pride in our relationship with our majority stakeholders (41.8% Government of Sri Lanka and 27.8% Ashok Leyland, India) and we look forward to building on this year’s success”
Gautam outlined an ambitious and exciting expansion plan that he hopes will help taper some of the revenue volatility seen in the commercial vehicle segment over the years. Lanka Ashok Leyland will expand its dealership over the next two years in the South and the East, with the opening of first new location in Embilipitiya which is ready for business.
The company is looking to aggressively compete in the light commercial vehicle segment by increasing sales and distribution in key locations in the interior of the country.
www.dailynews.lk
The market leader for heavy commercial vehicles in Sri Lanka capped a stellar year with an impressive dividend of Rs 40.00 for financial year 2014. The dividend declared represents a 700% increase over last year’s dividend announcement and reflects the remarkable progress made over the past year.
Lanka Ashok Leyland CEO Umesh Gautam said the automotive sector has seen a bit of volatility over the past few years and our company is no exception. Having steered through some of the stormier waters this 700% increase in the dividend, despite a 102% increase in profit, reflects our sincere appreciation to our shareholders for their unwavering support and trust in us over these years. We consider ourselves very fortunate to have excellent stakeholders and partners who have placed their faith in us and this dividend is our way of giving back to those who continue to stand by us.”
“We take great pride in our relationship with our majority stakeholders (41.8% Government of Sri Lanka and 27.8% Ashok Leyland, India) and we look forward to building on this year’s success”
Gautam outlined an ambitious and exciting expansion plan that he hopes will help taper some of the revenue volatility seen in the commercial vehicle segment over the years. Lanka Ashok Leyland will expand its dealership over the next two years in the South and the East, with the opening of first new location in Embilipitiya which is ready for business.
The company is looking to aggressively compete in the light commercial vehicle segment by increasing sales and distribution in key locations in the interior of the country.
www.dailynews.lk
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