Aitken Spence Profit Jumps 71% to Rs. 2.8 Billion as Logistics Offsets Tourism Loss

  • PBT: Rs. 2.8 billion, up 71.4% year-on-year
  • EBITDA: Rs. 10.1 billion, up 20.6%
  • Revenue: Rs. 41.7 billion
  • PAT: Rs. 1.4 billion, up 229%

Maritime & Freight Logistics

  • PBT of Rs. 3.3 billion; revenue up 20% to Rs. 9.5 billion
  • Growth driven by higher volumes, better freight rates and favourable market conditions
  • Local and overseas airline segments performed well
  • Bunkering profits rose significantly on higher oil prices
  • Overseas ports improved on higher domestic and transshipment throughput

Tourism

  • Revenue of Rs. 26 billion, but a sector loss of Rs. 1.6 billion
  • Maldives hit by occupancy pressures and higher operating costs
  • Better room rates, stronger Sri Lankan margins and growth at Aitken Spence Travels offered some support

Strategic Investments

  • Revenue of Rs. 5.3 billion; PBT loss of Rs. 326 million
  • Power Generation affected by waste-to-energy plant maintenance and a hydro-power plant overhaul following Cyclone Ditwah
  • Printing & Packaging and Plantations improved, despite lower tea prices in Q2
  • Apparel continued to post losses amid global economic challenges and productivity issues
  • Group divested its stake in a subsidiary with three production facilities after the balance sheet date

Services

  • PBT of Rs. 1.5 billion, up 179%; revenue of Rs. 998 million
  • Supported by strong growth at the Port City BPO venture and gains on disposal of an investment property

Sustainability

  • 97,994 MT of municipal solid waste from the western province repurposed through waste-to-energy operations
  • 29,272 m³ of rainwater harvested
  • Continued progress on climate resilience, disaster risk reduction and the net-zero strategy

Q2 Developments

  • Aitken Spence Hotel Holdings’ maiden Rs. 5 billion debenture issue was fully subscribed on opening day (15 Sept 2026) and listed on the CSE in October
  • All five Maldives properties earned Green Globe recertification, each with an improved compliance score versus 2024
  • Rainforest Ecolodge won Silver in the Nature Positive category at the ICRT Indian Subcontinent Awards 2026
  • Aitken Spence Logistics named Sustainable Logistics Provider of the Year at the Sri Lanka Sustainability Awards 2026
  • Aitken Spence Travels restored the library at Gangasiripura Kanishta Vidyalaya in Gampola, serving over 1,400 students

About the Group

  • Listed on the Colombo Stock Exchange since 1983
  • Over 150 years of history
  • More than 20,000 employees across 16 industries in 12 countries

Disclaimer: This is not a buy or sell recommendation

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