MTD Walkers prepares for positive growth in construction industry

Integrated infrastructure and engineering solutions provider MTD Walkers PLC announced its results for the third quarter of 2015/16 posting revenue of Rs. 2.7 billion. The Group has managed to increase its gross profit margin to 25% from 16% in the third quarter last year in what continues to be a tough year for the construction industry. 

“It is encouraging to see that the Government remains committed to infrastructure development. The Group has been able to broaden its scope of work and undertake a range of exciting new projects with many countries coming forward to fund development activities in Sri Lanka. The Group is now poised to return to a high growth phase leveraging on structural changes made during the slowdown experienced earlier this year,” says MTD Walkers PLC Executive Deputy Chairman Jehan Amaratunga. 

He further adds, “We are delighted to be recognised for our commitment to the industry by being awarded the Gold Award in the Construction Sector at the National Business Excellence Awards. This award has reaffirmed our position in the industry and the Sri Lankan business environment.”

Speaking of the results posted by the Group, MTD Walkers PLC Group Chief Financial Officer Viraj de Silva says, “Overall, I am pleased with the results for this quarter. The construction industry is recovering quickly and we expect the industry to continue to spur economic growth in Sri Lanka. The cost control measures adopted by the Group at sites and head office have enabled us to record a profitable quarter compared with the first half of the year. We expect the new operating practices of the Group to be sustainable and positively affect margins in the coming quarters.”