MTD Walkers posts Rs. 3.6 b revenue in 2Q

Thursday, 17 November 2016 00:18 - - {{hitsCtrl.values.hits}}

Integrated infrastructure and engineering solutions provider MTD Walkers PLC has posted a revenue of Rs. 3.6 billion for the second quarter of 2016/17.

The Group has managed to increase its gross profit margin to 27% up from 20% in the second quarter last year in what continues to be a tough year for the construction industry.

“The results for this quarter has been encouraging and we hope to capitalize on our upcoming projects to further improve our performance in the next quarter,” said MTD Walkers PLC Chief Financial Officer Viraj de Silva.

The increased profitability of the Group during the quarter is greatly due to the performance of the Real Estate sector, which MTD Walkers PLC ventured into recently through its subsidiary Walkers CML Properties Ltd.

“Walkers Piling Ltd. has also had a good quarter, as a result of the number of key projects, which had a positive impact on the performance for the quarter,” added de Silva

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.

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