Archive | November, 2015

Aitken Spence Records Rs. 1.5bn as PBT for Six Months

13 Nov

AS Building

Diversified group Aitken Spence posted a pre-tax profit of Rs. 1.5 bn for six months ended 30th September 2015, while reporting a post-tax profit of Rs. 1.15 bn.
The blue chip’s half-year revenue was recorded as Rs. 11.9 bn, results released to the Colombo Stock Exchange revealed. Profit attributable to equity holders was Rs.781 mn for the six months while earnings per share was Rs. 1.92 for the same period.
The conglomerate posted Rs. 773 mn as pre-tax profits and Rs. 567 mn as post-tax profits for the second quarter while recording Rs. 6 bn as revenue. Earnings per share for the quarter stood at Rs. 0.89.
The corresponding results for the previous year included the profits from the operation of the Embilipitiya power plant and insurance proceeds received for the damaged water villas at one of its resorts in the Maldives. If these items were excluded from results of the previous year it would have resultedin a favourable increase in the consolidated profit before tax by 24%.
Aitken Spence PLC is among Sri Lanka’s most dynamic and respected corporate entities with operations in South Asia, the Middle East, Africa and the South Pacific. Listed in the CSE since 1983, it has major interests in hotels, travel, maritime services, logistic solutions and power generation. The group also has a significant presence in plantations, printing, garments, financial services, insurance and information technology.
Tourism sector recorded a pre-tax profit of Rs. 900 mn with revenues of Rs. 5.76 bn for the six months. Maritime and Logistics sector performed well with Rs. 527 mn as profit before tax and Rs. 3.42 bn as revenue for the same period. The Strategic Investments sector, which includes the power generation segment, recorded loss of Rs. 32 mn with revenue of Rs. 2.3 bn for the first half of the financial year. The Services sector recorded an improved performance with pre-tax profits of Rs. 109 mn, whilst revenue stood at Rs. 426mn, for the six-month period under review.
Recently, Aitken Spence PLC entered into an agreement to acquire a 20% shareholding in Fiji Ports Corporation Ltd (FPCL). FPCL manages all the major Ports in Fiji and is a wholly owned government company. Aitken Spence entered into the first ever Public Private Partnership overseas by a Sri Lankan company when it acquired a controlling shareholding in Fiji Ports Terminal Ltd in 2013 and signed a 15 year concession agreement to manage Suva and Lautoka international ports in Fiji
Aitken Spence Hotels recently announced the launch of its latest brand, Turyaa by Heritance, at the World Travel Market in London. The brand portfolio consists of Turyaa Chennai and Turyaa Kalutara with several other properties expected to join the brand in the next two to three years.
Aitken Spence expanded its presence in the Maldives through its acquisition of Raafushi Island in Noonu Atoll on a head lease this April. Plans are being reviewed for an approximately 200-room resort in the island.

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Aitken Spence Expands its Footprint in the South Pacific

12 Nov

Fiji Port 2

Aitken Spence PLC, the pioneering conglomerate which entered into the first ever Public Private Partnership overseas by a Sri Lankan company when it acquired a controlling shareholding in Fiji Ports Terminals Ltd in 2013 and signed a 15 year concession agreement to manage Suva and Lautoka international ports in Fiji, further expanded its footprint in the South Pacific by acquiring a 20% shareholding in Fiji Ports Corporation Ltd (FPCL). FPCL manages all the major Ports in Fiji and is a wholly owned government company.

Recently the Fijian Government under its divestment programme invited expressions of interests from interested parties to purchase an equity stake in FPCL. Aitken Spence PLC together withFiji National Provident Fund formed a consortium and submitted a bid for a 59% shareholding, which was accepted by the Fijian Government. Fiji National Provident Fund has acquired a shareholding of 39% in FPCL. The legal agreements were signed on 5th November 2015 in the presence of the Hon Prime Minister of Fiji, HE Frank Bainimarama signifying a landmark in the divestment programme initiated by the Fijian Government. The total investment in FPCL by the consortium for a 59% shareholding is FJ$99.12 million (approximately US$ 50 million).

FPCL provides marine and navigation services, port infrastructure development and maintenance, security and International Ship and Port Facility Security (ISPS), management of local wharves and wharfage services. Additionally, FPCL manages the ports sector and administers tariffs in all major ports of Fiji. FPCL through its fully owned subsidiary Fiji Ships and Heavy Industries Limited provides ship repair services. It also has a 49% shareholding in the port terminal operator Fiji Ports Terminal Ltd, where Aitken Spence PLC has a 51% shareholding.

The Fijian Government through this partnership has taken a major step in achieving its vision of making Fiji the gateway port hub in the Pacific. Aitken Spence PLC, being the only Sri Lankan company to provide port management services overseas is keen to provide the expertise and the technical know-how to realize the vision of the Fijian Government.

Fiji Port 1

DB Schenker Partners with Aitken Spence in Sri Lanka and Maldives

11 Nov

Turku ist die Schnittstelle für die Verkehre nach Nord-Osteuropa (SB Schenker).

(Colombo / Singapore, 26 Oct 2015) As at 1st September 2015, DB Schenker welcomes DBS Logistics Ltd as its newest network partner for Sri Lanka and Maldive Islands.

DBS Logistics Ltd was formed to solely represent DB Schenker in Sri Lanka and Maldives for Air & Ocean Freight as well as Project Cargo. The setup of DBS Logistics was led by Aitken Spence Plc, a publicly listed conglomerate founded in Sri Lanka since 1868. Aitken Spence has diversified interests, which include maritime cargo logistics as well as strategic investments and services. Aitken Spence is one of the largest logistics service providers in Sri Lanka and has pioneered the industry in the country.

Dr Parakrama Dissanayake – Chairman of Aitken Spence Maritime and Logistics Sector and Director of Aitken Spence said, “This partnership in Sri Lanka and Maldives brings together the expertise and experience of a global leader and a regional leader, which will form a catalyst to propel growth. Imagination is what drives innovation & solutions, and together, DB Schenker and Aitken Spence have the imagination to make greater things happen.”

Added Mr Anders Wallin, Chief Financial Officer, Schenker (Asia Pacific) P/L, “DB Schenker has had a long relationship with Sri Lanka since 1980. This new partnership with DBS Logistics marks a new chapter, which will take us to another level of growth in these two important markets, especially benefitting our customers across industries, such as Fashion/Retail, Electronics, Industrial, Healthcare, Automotive, Aerospace and others.”

As DB Schenker’s exclusive Network Partner for Air Freight, Ocean Freight and Project Cargo in Sri Lanka and Maldives, the appointment of DBS Logistics will enable better integration of services as well as enhanced capabilities and quality of service in the two territories.

About DB Schenker:

DB Schenker stands for the transportation and logistics activities of Deutsche Bahn (DB), with more than 95,700 employees in over 140 countries generating revenues of EUR 19.8 billion. DB Schenker has top positions in the global air and ocean freight business, has Europe’s densest land transport network, and has the rail expertise of the largest European rail freight company.

Aitken Spence Launches Turyaa by Heritance at World Travel Market

10 Nov
From Left: Mr. G C Wickremasinghe, Sir Peter Heap, Ms. Stasshani Jayawardena and Mr. J M S Brito

From Left: Mr. G C Wickremasinghe, Sir Peter Heap, Ms. Stasshani Jayawardena and Mr. J M S Brito

Leading regional hospitality operator Aitken Spence Hotels announced the launch of its latest brand,Turyaa by Heritance,at the World Travel Market [WTM] in London. The World Travel Market is the leading global event for the travel industry providing an opportunity for the global travel trade to meet, network negotiate and conduct business.

Turyaa by Heritance was conceptualized to appeal to the changing lifestyles of the global traveler. With the digital revolution and globalization gradually changing the demands and preferences towards brand selection, Turyaa by Heritance was developed to provide the guest with a brand that is more flexible, responsive, interactive and value driven.

Located in gateway cities, resort destinations and MICE locations, Turyaa by Heritance is designed around ultimate comfort, great food, good value and outstanding “can-do-service” that delivers the perfect place to stay for go-getters, trendsetters and highflyers who want to reconnect, rejuvenate and relax.

“From listening to our guests, we learnt that there was an opportunity to better meet the needs of the modern traveler whose expectations are constantly evolving. The essence of Turyaa by Heritance is all about delivering fantastic experiences to our guests. We have created spaces where guests can feel at ease, surrounded by the things they love. This is genuinely an exciting time for us and we look forward to elevating the guest experience through innovations in product and service delivery”, said Mr.Chethiya Perera, Joint Managing Director, Aitken Spence Hotels.

“Aitken Spence will be strengthening and expanding our tourism portfolio in the next few years in the Indian Ocean region. Turyaa by Heritance will deliver a distinct experience across different countries to the traveler who is enthusiastic about life. We are confident that Turyaa will add substantial value to the destinations that it will call home”, said Mr. J M S Brito, Deputy Chairman and Managing Director, Aitken Spence PLC.

Turyaa Chennai, India is located in the IT Corridor of Chennai and just a short drive away from the heart of the city. Whilst being a business hotel, it will also transform into an idyllic sanctuary of rest and entertainment by evening, flaunting its infinity rooftop poolside that opens out to the whole of the bustling city. The property opened its doors on 1st October 2015, to be followed by a property launch in November.

Turyaa Kalutara (formerly known as The Sands) will offer a diverse range of eclectic dining options including Arabic, fusion and local cuisines. The property boasts a diverse range of accommodation with large guestrooms ideal for families. Great food, fun, lively and vibrant will be the hallmarks of this property located just 37 km away from the city of Colombo.

In addition, the brand hopes to include further properties key destinations in Sri Lanka to its portfolio between 2016- 2018. Aitken Spence Hotels operates a chain of 24 hotels and resorts in Sri Lanka, India, Oman, and the Maldives under two premier brands: Heritance and Adaaran. Each of their properties caters to a diverse client base, having hotels suited to every need and budget while maintaining high standards of hospitality. Located in key tourist locations, the Aitken Spence chain boasts of exotic properties such as Sri Lanka’s most awarded Heritance Kandalama which is situated in close proximity to five UNESCO world heritage sites, and the Desert Nights Camp in Oman, rated as one of the top ten desert retreats in the world.

Please visit www.turyaahotels.comto find more about Turyaa by Heritance.

Ms.Stasshani Jayawardena, Director, Aitken Spence PLC & Aitken Spence Hotels with guest

Ms.Stasshani Jayawardena, Director, Aitken Spence PLC & Aitken Spence Hotels with guest

Award winning chef, Dimuthu Kumarasinghe with one of his creations

Award winning chef, Dimuthu Kumarasinghe with one of his creations

Turyaa by Heritance launches at WTM today!

3 Nov

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