Millennium Housing beats expectations with record Q1 earnings

Millennium Housing Developers PLC (MHDL), Sri Lanka’s leading township developer, announced its outstanding financial performance for the first quarter ending 30 June posting all-time high Q1 revenue of Rs. 965 million with a PAT of Rs. 120 million. When compared to Q1 performance of last financial year, the company has grown by Rs. 724 million in top line and Rs. 100 million in profit.  

“We are extremely pleased with MHDL’s Q1 performance and we are confident that this performance will be continued for the rest of the financial year. Our outstanding business performance affirms a promising future for all stake holders as we continue to offer affordable luxury for all our customers who seek progressive lifestyles,” said Millennium Housing Developers PLC Chairman Harshith Dharmadasa. “Strong growth performance in the first quarter 2017/2018 on the back of an outstanding PAT of Rs. 148 million in 2016/2017 is result of our focused approach in location selection, profit oriented management style of marketing,” affirmed Dharmadasa.