Aitken Spence PLC, a prominent conglomerate with a broad regional footprint, achieved a notable Profit Before Tax (PBT) of Rs. 12.8 billion for the fiscal year ending March 31, 2026. The robustness of the Group’s varied portfolio was evident throughout the financial year, with international operations accounting for 61% of total profits. This expanding global presence strengthens earnings stability, mitigates concentration risks, and opens numerous growth opportunities across different markets and sectors.
The Group’s share of profits from equity-accounted affiliates surged by 46% to Rs. 2.3 billion, fueled by enhanced contributions from the Port City BPO initiative and better performance in both plantation and bunkering operations.
Net profit after tax increased to Rs. 9.1 billion, marking a 27% rise compared to the previous year, with Rs. 6.8 billion attributable to the equity holders of the Company.
The Tourism segment of the Group experienced significant growth, reporting a PBT of Rs. 7.9 billion for the year ending March 31, 2026. This sector emerged as the principal contributor, representing 61% of the Group’s overall earnings. The enhancement in the Tourism sector’s performance was supported by a rise in tourist arrivals, improved occupancy rates, and higher room prices throughout the year. Additionally, reduced interest expenses contributed positively to profitability. The destination management division also performed well, successfully navigating a difficult domestic industry landscape while capitalizing on the ongoing recovery in global travel and an increase in inbound tourism.
The Maritime & Freight Logistics sector posted a PBT of Rs. 4.7 billion for the same period, primarily driven by the maritime and port segments. Despite facing a challenging global market, with increasing pressures toward the end of the year impacting overall results, port operations exhibited strong growth in revenue and earnings, bolstered by heightened operational activity. The integrated logistics division maintained stable revenue levels, and the newly established warehouse complex showed promising progress in its early operational phase. However, these positive outcomes were somewhat counterbalanced by weaker performances in the transportation and distribution sectors.
The Services sector saw a significant rise in profitability this year, with PBT escalating to Rs. 1.2 billion, reflecting the ongoing expansion and maturation of the portfolio. The BPO services division experienced substantial growth, driven by increased operations and a larger client base. Additionally, the Group’s elevator agency reported improved volumes, while the property management segment maintained steady performance. Nonetheless, this growth was tempered by underperformance in the insurance and money transfer divisions.
The Strategic Investments sector exhibited mixed results during the year. The printing and packaging business performed exceptionally well, benefiting from increased volumes and pricing. The power generation segment also made a positive contribution, despite a decline in profits due to daytime restrictions on solar operations, minor disruptions in certain hydro plants caused by Cyclone Ditwah, and a high comparative base from the previous year due to a one-time provision write-back. The Group’s plantations segment showed commendable performance amid a tough operational landscape characterized by rising cost pressures and structural challenges in the industry. Overall, however, the Strategic Investments sector was adversely affected by losses in the apparel manufacturing segment.
Aitken Spence PLC continued to make steady advancements in its Environmental, Social, and Governance (ESG) performance, achieving improvements across key environmental metrics. Although the total energy consumption per unit of revenue rose slightly by 5%, significant efficiency gains were realized in core sectors, including reductions of 6% in Tourism, 12% in Maritime and Freight Logistics, and 17% in Services. The Group’s waste-to-energy facility played a vital role in decarbonization efforts, converting 180,241 MT of residual waste into renewable energy for the national grid and avoiding 114,933 tCO₂e emissions—equivalent to the annual footprint of over 32,600 urban households. Overall, over 90% of solid waste was diverted from landfills, supporting circular economy objectives. Water intensity also improved at the Group level, with a 7% reduction per unit of revenue, driven by 15% efficiency gains in both Tourism and Services. Increases in Maritime and Freight Logistics (11%) and Strategic Investments (18%) largely reflected revenue performance variations rather than changes in actual consumption trends. Collectively, these results highlight the Group’s ongoing commitment to operational efficiency, resource optimization, and sustainable, lower-carbon growth.
This year marked a significant milestone in Aitken Spence PLC’s sustainability efforts, as it became the first diversified holdings company in Sri Lanka to have its emission reduction targets validated by the Science Based Targets initiative (SBTi). This achievement reflects the scale and complexity of the Group’s operations across 17 industries and multiple regions.
Established in 1983 and listed on the Colombo Stock Exchange, Aitken Spence PLC has a legacy of excellence spanning over 150 years, supported by a workforce of more than 20,000 employees across 17 industries in 12 countries, including Sri Lanka, the Maldives, Fiji, India, Oman, Bangladesh, Mozambique, Singapore, and the UAE.
Photo – Ms. Stasshani Jayawardena, Chairman of Aitken Spence PLC
Source: Financial Chronicle Biz English | Sri Lanka Business News.
