Archive | May, 2013

Aitken Spence Posts a Commendable Performance for FY12/13

30 May

Blue chip conglomerate Aitken Spence PLC reported its annual results 2012/13 to the Colombo Stock Exchange on Thursday, reporting profit from operations of Rs 5.5bn  billion, an increase of 14.4% over the  previous year’s profit from operations of Rs 4.81 billion excluding the reported  capital gains on the sale of the shares of Colombo International  Container Terminals Ltd. (CICT).  The profit before tax is at Rs.5 bn for the year with a growth of 8.9% as compared with Rs. 4.59 bn in the previous year, excluding capital gains on the sale of the shares of CICT. The diversified group’s annual revenue rose by 20 per cent to Rs. 37.1 bn whilst earnings per share declined by 6.3% to Rs. 8.05 for the financial year.


The revenue of the tourism sector for the financial year grew 24.9% to Rs. 14 bn and profit before tax surged 31.4% to Rs. 3.4 bn. Annual revenue for the Cargo Logistics increased 1.4% to Rs. 5.7 bn whilst profits after tax for the sector declined by 33.7 % to Rs. 556 mn. Services sector reported growth in revenue of 11.4% and profit after tax of 1.5% to Rs. 537 mn and Rs 162 mn respectively for the financial year.  Strategic Investments sector (inclusive of revenue of equity accounted investees) reported an increase in revenue of 22.8% to Rs. 17.9 bn, while profit after tax dropped by 46.4% to Rs. 837 mn for the financial year.


“The company has had a year of mixed fortunes with challenges and pressures that have tested our strength and our ability to adapt, combined with fresh opportunities and prospects that excite us about the road ahead”, said Deshamanya D H S Jayawardena, Chairman of Aitken Spence PLC.

“We are proud to say that we have not approached our shareholders for  funds in fifteen years. This is particularly noteworthy considering that  our dividend record has improved significantly during this period, and  will continue to grow in line with our earnings record”, he said.

“The Sri Lankan Tourism sector has performed reasonably well but was  affected somewhat with the country attracting a higher number of  lower-end or budget tourists who do not regularly patronise star class  establishments”, he added.

Deputy Chairman and Managing Director J M S Brito said, “The Group was once again able to achieve a commendable  performance for the year 2012/13 despite the macro-economic and  global challenges we encountered. Our diversity and innate capabilities  provided us with the ability to respond strategically and with agility to  changing conditions whilst staying on course with the greater vision of  Aitken Spence”.

“In terms of expansion, we will continue to explore new avenues of  business as well as new markets both in Sri Lanka and overseas,  where we may utilise our proven capabilities in management to build  sustainable new businesses”, he added.

The revenue for the fourth quarter of 2012/2013 was recorded at Rs. 9.38 bn, a negative growth of 3.3% compared to the fourth quarter of 2011/2012.  The profit before tax for the fourth quarter posted a negative growth of 4.13 % at Rs. 1.85 bn when compared with 2011/2012 figures which excludes capital gains on the sale of the shares of CICT.

Aitken Spence is among Sri Lanka’s leading and most respected corporate entities with operations in South Asia, the Middle East and Africa. It is an industry leader in hotels, travel, maritime services, logistics, power generation and printing, with a significant presence in plantations, financial services, insurance, information technology and apparel. Aitken Spence was recognized as Sri Lanka’s Best Corporate Citizen for 2012 by the Ceylon Chamber of Commerce.

Heritance Hotels, the only resort chain in Sri Lanka to be ISO 50001 Certified

30 May

Heritance Hotels, Sri Lanka’s leading chain of resorts, owned and managed by Aitken Spence Hotels is the first resort chain in Sri Lanka to be awarded the ISO 50001 certification for energy management systems which have been effectively implemented at each resort.

The International Organization for Standardization has introduced ISO 50001 with the aim of helping organizations establish systems and processes to improve their energy performance. The standard specifies the requirements for establishing, implementing, maintaining and improving an energy management system, whose purpose is to enable an organization to follow a systematic approach in achieving continual improvement of energy performance, including energy efficiency, energy security, energy use and consumption. The standard aims to help organizations continually reduce their energy use, and therefore their energy costs and their greenhouse gas emissions.

Heritance Hotels, a pioneer in practicing and promoting sustainable tourism in Sri Lanka, has taken numerous initiatives in ensuring that energy consuming assets have been managed effectively and energy conserving technology has been implemented at each resort. Heritance Ahungalla, one of Sri Lanka’s leading beach resorts, was the first hotel in Sri Lanka to receive the ISO 50001:2011 certification. Heritance Ayurveda Maha Gedara, was the first net metered hotel in Sri Lanka and Heritance Tea Factory and Heritance Kandalama were the first in the hospitality industry to utilize a biomass gasifier as a renewable energy source. Apart from the significant systems implemented at the resorts, all resorts use Sewage Treated Plant (STP) water for irrigation and have replaced incandescent lighting with CFL and LED lights.

It is believed that energy conservation is the foundation of energy independence; although a single effort may seem minuscule a collective effort will make a difference. “We at Aitken Spence Hotels have been setting trends for energy reductions. We always strive to establish best practices and set examples for the industry” said Rohitha Rajaratne, Vice President, Engineering, Aitken Spence Hotels.
Mr. Malin Hapugoda, Managing Director, Aitken Spence Hotels shared the following views; “Sustainable tourism is about re-focusing and adapting. A balance must be found between limits and usage so that continuous changing, monitoring and planning ensure that tourism can be managed. This requires thinking long-term and realising that change is often cumulative, gradual and irreversible. Having identified the growing need to ensure sustainable tourism, Aitken Spence Hotels, will continue our pioneering efforts in this field. Our continuous dedication in implementing initiatives that promote sustainable practices has enabled Heritance to achieve global recognition such as the ISO 50001, for its efforts. ”

With the ever increasing energy cost and limitations of supplies especially in Sri Lanka, this step by Heritance Hotels is expected to bring in a significant saving of energy consumption as well as reduce cost of operations. The improved energy efficiency of the operations is expected to drive the company towards greater productivity and this will enable the hotels to be competitive while reducing its dependence on the national energy supply.

Senior Management of Aitken Spence Hotels and the chief engineers of the Heritance properties with officials of the certification awarding body

Senior Management of Aitken Spence Hotels and the chief engineers of the Heritance properties with officials of the certification awarding body



30 May

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