The bottom line of the company was also boosted by another income of Rs.391 million, generating from insurance claims
Aitken Spence Hotel Holdings PLC, the hotel owning and management unit of the diversified Aitken Spence group saw its net profit for the year ended March 31, 2014 (FY13/14) rising 31 percent year-on-year (YoY) to Rs.2.3 billion, supported by better performance of hotels both in Sri Lanka and the South Asian region.
The bottom line of the company was also boosted by another income of Rs.391 million, generating from insurance claims on a fire that destroyed 16 water villas i n a resort operated by Aitken Spence in the Maldives.
The revenue for the year stood at Rs.12.9 billion, up from Rs.12 billion in the previous year. The operational profit for the year rose 26 percent YoY to Rs.4 billion.
The firm also recorded a net finance income of Rs.77 million against a net finance expense of Rs.18 million in the previous year.
The earnings per share for the year improved to Rs.6.92 from Rs.5.26.
The Sri Lankan resort hotels of the firm reported a revenue of Rs.3.3 billion for the year under review, against a revenue of Rs.2.8 billion in the previous year. The segment reported a pre-tax profit of Rs.1.35 billion, up from Rs.1 billion.
The firm’s South Asian hotel operations generated a revenue of Rs.9.7 billion, against a revenue of Rs.9.3 billion in the previous year. The segment’s pre-tax profit also rose to Rs.2.7 billion from Rs.2.2 billion.
Aitken Spence Hotels owns and manages six resort hotels in the Maldives. The company also manages four hotel properties in India and a couple in Oman.
Sri Lanka Travel Feneteko