Sri Lanka witnessed a 26.7% surge of tourist arrivals in Year 2013 compared to Year 2012 with Western Europe continuing to be the dominant market with a 33% market share —while earnings from tourism in 2013 grossed USS 1.7 billion vis-a-vis USS l- billion in 2OI2, A.M. Pandithage, chairman, Amaya Leisure PLC mentions in the company’s Annual Report and the Audited Financials for the year ended March 3I, 2014.

“ln the backdrop of peace and capitalizing on its natural beauty, Sri Lanka has been able to carve its name as a ‘must visit destination to travel,” he said.

“South Asia is the second major market which counts for a 25% market share, while India remained the leading tourist origin country, capturing 16% of the total tourist arrivals”.

Referring to fiscal performance of Amaya PLC in this context, he said, “The Company was able to surpass the Rs.1 billion turnover milestone for the second consecutive year while the topline grew by 10%, reaching its all-time highest revenue of Rs. 1.15 billion.”

“Profit before tax increased marginally to Rs.418 million from Rs.410 million of the corresponding year despite pressure on cost and reduction in interest income”.

“Corporate tax increased to Rs.42 million from Rs. 32 million in the corresponding year, mainly as a result from dividend taxes which was previously exempt as Amaya Hills BOI tax holiday ended. This resulted in a profit after tax of Rs.376 million for the year, a marginal decline from last year’s profit of Rs. 378 million,” he explained.

Referring to future outlook of the company, Pandithage said the company has invested in a controlling stake of a 125-room beach resort in Passikudah.

“This filled a vacuum in our hotel portfolio as we lacked a beach resort beyond Colombo’s outskirts,” he said.

Meanwhile, Amaya PLC Managing Director L.T. Samarawickrama in his message said,” Due to the recession in Europe, tourists from traditional markets were much less than usual, however, traffic from emerging markets such as India, China, the far East and the Middle East contributed heavily towards and beyond the one million tourists mark during the year ended 31st March 2014.

Source: http://www.island.lk/index.php?page_cat=article-details&page=article-details&code_title=106148