Archive | August, 2014

MMBL opens its new Western Union branch at Panadura

21 Aug

opening_ceremony

MMBL Money Transfer (Pvt) Ltd, the Principal Representative for Western Union in Sri Lanka opened their fifth MMBL Money Master branch at Cross Street, Panadura on 14th August 2014.

Mr.Dinesh Mendis, Director Aitken Spence Group Ltd. and Managing Director of MMBL Money Transfer (Pvt.) Ltd. said at the opening of the branch “The mission of the MMBL is to facilitate right next door access to our customers who receive essential money through Western Union from family and loved ones working and living overseas. This new MMBL Money Master branch in Panadura will be open 365 days from 8.30am to 7pm to bring a fast, safe and convenient service to our customers.”

MMBL Money Transfer (Pvt) Ltd, a joint venture company of Aitken Spence PLC and Mercantile Merchant Bank Ltd., is one of Sri Lanka’s leading international money transfer service providers offering Sri Lankans access to Western Union® Money TransferSM services and connecting to a global network of more than 489,000 Western Union® Agent locations in over 200 countries and territories1. MMBL is the oldest principal agent for Western Union Money Transfer in Sri Lanka since 1995 as the largest agent in the country in terms of network with 2600+ locations and business volumes. The MMBL network comprises commercial and development banks, co-operative rural banks, financial institutions and retail outlets.

The Western Union Company (NYSE: WU) is a leader in global payment services. Together with its Vigo, Orlandi Valuta, Pago Facil and Western Union Business Solutions branded payment services, Western Union provides consumers and businesses with fast, reliable and convenient ways to send and receive money around the world, to send payments and to purchase money orders. The Western Union, Vigo and Orlandi Valuta branded services are offered through a combined network of approximately 485,000 agent locations in 200 countries and territories. In 2010, The Western Union Company completed 214 million consumer-to-consumer transactions worldwide, moving $76 billion of principal between consumers, and 405 million business payments. For more information, visit http://www.westernunion.com

Aitken Spence Printing Renovates Printing Facility at the Deaf & Blind School

13 Aug

 

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Industry leader Aitken Spence Printing strengthened its community engagements by recently completely refurbishing the in-house printing facility of the Deaf & Blind School in Ratmalana while providing training and employment opportunities to its students.

The school enabling care to over 400 students is now able to access the renovated printing facility that was in dilapidated condition. Two key printing machines SBD Cylinder machine and Auto Platen machine were completely overhauled while the floor of the facility was provided a complete facelift.

Aitken Spence Printing further empowered the students by providing training opportunities on the latest printing technologies available and offering employment opportunity to one of its students. The management hopes to continue to recruit more students from the school in the near future.

“We are delighted to be empowering the students of the Deaf & Blind School in Ratmalana. Aitken Spence Printing will continue to work on similar projects in the future. We thank Mr. Lucky Mendis, Director of Deaf and Blind School, Mr. Nirosh de Silva, Chairperson of the fund raising committee of the Deaf and Blind School and Mrs. Samanthika Jayasooriya, the Principal of Deaf School for giving us this opportunity to be a partner of such a valued CSR activity” noted Mr. Prasanna Karunatileka, the Managing Director of Aitken Spence Printing.

With a heritage spanning over five decades, Aitken Spence Printing is known as an innovative quality printing and packaging solutions provider for prestigious international brands in fast moving consumer goods, tea, confectionary, cosmetics, pharmaceuticals and apparel industries locally and globally. It is also recognized as top quality printer for corporate reports, coffee-table books, magazines and other high-end publications. The Company has also been recognized by the Sri Lanka Association of Printers as “Sri Lanka’s Master Printer” for the year 2014 and 2015. Offering the region’s only LEED Gold certified and carbon neutral printing plant, Aitken Spence Printing’s ultra-modern printing plant is located just outside of Colombo.

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The printing facility of the Deaf & Blind School is one of the oldest printing schools in Sri Lanka. The effort and dedication of the maintenance team of Aitken Spence Printing contributed towards renovating the facility back to its old glory with a handing over ceremony taking place with the presence of the Managing Director of Aitken Spence Printing, Mr. Prasanna Karunatileka, the Management team of Aitken Spence Printing Mr. Lucky Mendis the Director of Deaf & Blind School and Mrs. Samanthika Jayasooriya Principal of the Deaf School.

Aitken Spence PBT Up by 20.6 pc in Q1

9 Aug

Diversified blue chip conglomerate Aitken Spence PLC reported a pre-tax profit of Rs 1.2 bn for the first quarter, a growth of 20 per cent, over the previous year, while the Group’s profit attributable to shareholders of the parent grew by 12 per cent to Rs. 746 mn.

The Company’s financial results for the three months ended 30th June 2014 released to the Colombo Stock Exchange on Friday, reported that the revenue for the first quarter increased by 28.8 per cent to Rs. 10.32 bn, whilst earnings per share for the quarter stood at Rs. 1.84, an increase of 12% per cent over the corresponding period in the previous year.

The Tourism arm of the Group, which includes hotels in Sri Lanka, the Maldives, India and Oman together with its leading destination management company in Sri Lanka, reports healthy returns. The sector also expanded its portfolio with Al-Jabal Al-Akhdhar hotel in Oman and a five-star 143 room hotel in Chennai, India. Proposed 500-room, USD 100 million beach resort in Ahungalla jointly owned with international hotel chain – RIU commenced its construction during the quarter and is expected to open during the second half of the financial year 2016/17. Deshmanya D H S Jayawardena, Chairman of Aitken Spence PLC said, “We have the Mattala Airport facility in place, giving us an ideal mix for our business model. Aitken Spence has always encouraged infrastructure development in the country and our investment is  proof of our confidence and support to government’s development plans”.

Maritime and Cargo Logistics sector performed well, boosted by the income from its strategic entry into port management operations in Africa and the South Pacific regions. The contribution from the acquired subsidiary Ports Terminal Ltd Fiji, which is also managed by the Group, enhanced the profits of the sector. Maritime and Logistics sector saw its revenue increase by 38.8 per cent to Rs. 2bn and pre-tax profits rose by 40 per cent to Rs. 183mn.

Revenue from the Strategic Investments sector drew significant growth during the said quarter due to higher contribution from the Power, Printing and Plantations sectors. The sector reported a revenue of 5bn for the financial year under consideration which was a growth of 38.8 per cent and a profit before tax of Rs 302mn, a growth of 77.1 per cent compared to the previous year. Increased generation by the Embilipitiya power plant resulted due to the drought condition which prevailed in the country while commendable performance from Aitken Spence Printing and Elpitiya Plantations helped enhance the sector’s results.

Aitken Spence is amongst Sri Lanka’s leading and most respected corporate entities with operations in South Asia, the Middle East, Africa and the South Pacific. In Sri Lanka, 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.

Aitkenspence head office
During this said period last year, Aitken Spence PLC launched Empowering Sri Lanka First (ESLF), an English and computer teaching programme for children as its flagship corporate community engagement initiative. The programme completes is first year during this quarter and continues to benefit more than 160 students in Dambulla, Ahungalla and Mawaramandiya.