Strong 3Q results for expansion focused Amaya Leisure

Amaya Leisure, the Hayleys Group hospitality sector company that owns or manages several hotel properties, has reported strong revenue and profit growth for the nine months ending 31 December 2012.

Profit before tax for the period grew by 36% to Rs. 266.2 million on revenue of Rs. 717.3 million, which was up 26%, the company said in a filing with the Colombo Stock Exchange. Net profit for the nine months reviewed was Rs. 246.7 million, reflecting an improvement of 35%.

The basic earnings per share at the end of the third quarter, was Rs. 5.14, as against Rs. 3.80 for the corresponding period of 2010-11.

On the strength of these results, the Board of Directors of Amaya Leisure has declared an interim dividend of four rupees per share for the period reviewed.

Commenting on the company’s performance in the current financial year, Amaya Managing Director Lalin Samarawickrama, attributed the results to the efforts made to build and position the Amaya brand and its properties as a ‘reflection of Sri Lanka.’

“The Brand is now well recognised by a wide spectrum of clientele in diverse markets in Europe, the Middle East and the Far East,” he said.

Samarawickrama disclosed that the company’s intention is to double its room inventory within the next two to three years.

“Our thrust is to acquire and manage more properties, building on the expertise that we have gained over the years,” he said.

“We endeavour to serve a wide range of customers at Amaya with personalised service, whilst focusing on the niche luxury segment.”

The Amaya Resorts and Spas group currently consists of Amaya Lake (Dambulla), Amaya Hills, Hunas Falls by Amaya and The Bungalow by Amaya (all in Kandy), Langdale by Amaya (Nuwara Eliya), Coral Rock by Amaya (Hikkaduwa) and Wild Trails by Amaya (Yala).

The company also has coastal developments planned in Nilaveli (Trincomalee) and at Wadduwa, and further prospective developments of wildlife adventure and lodging in Yala and Wilpattu.

The Board of Directors of Amaya Leisure comprises of Chairman A.M. Pandithage, Deputy Chairman J. Wickramasinghe, Managing Director L.T. Samarawickrama, K.D.D. Perera, S. Senaratne, W.D.N.H. Perera, S.H. Amarasekara, D.E. Silva, D.S.N. Weerasooriya and R.N. Ponnanbalam.