MTD Walkers PLC Posts an Impressive 91% Increase in Profits and Continues Growth Trend

Integrated infrastructure and engineering solutions provider MTD Walkers PLCannounced today its sixth consecutive year of 39.1% compound annual revenue growth, ending the year posting a 91.0% growth in profit after tax. MTD Walkers PLC for the year ended March 31, 2015 posted Rs. 1.148Billion profit after tax on a Revenue of Rs.14.014 Billion, up from Rs. 10.092 Billion last year.

“As we head into a new financial year, we are confident that our interest in the fields of infrastructure related diversification and continued focus on our core areas will yield us strong growth across our businesses as we look to maintain and build on our industry leading position,” says Jehan Amaratunga, Executive Deputy Chairman of MTD Walkers PLC.

MTD Walkers PLC recently acquired Wincon Development Ceylon (Private) Limited, a property development company registered with the Board of Investment of Sri Lanka, for the purpose of residential property development for both public and private sector.  “Acquiring this through the Rs. 2.4 Billion rights issue completed in Q4 2015 has completely restructured our balance sheet and we are now ready to support our planneddiversification strategy in property development and marine engineering,” adds Mr. Amaratunga.

“Despite the market remaining competitive and challenging, the company continued to deliver consistent growth and an increase in Profit after Tax from 6.0% in 2014 to 8.2% in 2015. To ensure our long-term sustainable success we invested in effective management, cost control measures, innovative engineering and building capabilities of our people,” says Viraj De Silva, Group Chief Financial Officer of MTD Walkers PLC.

As a consolidated result of their efforts MTD Walkers PLC were able to achieve higher EBIT and NP margins compared to the corresponding 12 months of the previous financial year whilst marking the most outstanding financial performance market by the Group in the 161 year history.

About MTD Walkers

MTD Walkers PLC, in operation since 1854 is the seventh oldest company in Sri Lanka and is a listed company in the Colombo Stock Exchange.

MTD Walkers is engaged in multidisciplinary engineering activities locally and overseas including civil, marine, mechanical, and electrical engineering work, pile construction, power generation, manufacture of tea machinery for the plantation industry, building services, and real estate.

For more information please contact Ishani Ranasinghe on ishani.ranasinghe@mtdwalkers.com