Expolanka Holdings PLC, recorded a turnover of Rs. 95 billion for the year ended March 31, 2019 and plans are afoot to expand the global reach of the company consolidating and expanding markets across the globe, said a top official of the company at the bell ringing ceremony at the Colombo Stock Exchange (CSE) last week.
Expolanka Holdings PLC is a global, diversified Sri Lankan conglomerate operating in 19 countries across four continents. The company commenced operations in 1978 and has grown to be a leading player in freight and logistics services locally and internationally. Expolanka Freight was set up in 1982 and later diversified into multiple sectors including travel and tea. It began expanding beyond the shores of Sri Lanka in 1992. “We are excited and passionate about our presence in the local and global market which has grown steadily over the years despite many challenges. Since our Initial Public Offering (IPO) in 2011 we have taken many strides such as setting up a 250,000 square feet state-of-the-art facility at Urugodawatte. We will be investing on developing all such facilities across the country to offer convenient and efficient services to customers,” Expolanka Holdings PLC Executive Director and Group CEO Hanif Yusoof said.
The company’s history, which goes back 40 years, has expanded its portfolio into 20 companies under a fast phase of growth from its first IPO in 2011. Expolanka Holdings PLC was the first company to be awarded the free port operation certificate in 2013.
While freight and logistics services are its core operations, the company is into the leisure sector with in and out bound operations and investments. Expo Lanka Holdings PLC Chief Administrative Officer Jagath Pathirana said since 2011 we have been able to manage and restructure the company to attract foreign investors. Sixty seven percent of the company’s share are held by Sagawa Holdings of Japan.
“We are a global company and over 90 percent of our revenue is generated from freight and logistics services. We cannot forget our two brands such as Expo Freight Lanka which was rebranded in 2014 and Classic Travel. Our growth potential is seen by our investors,” Pathirana said. Expo Lanka Holdings employees around 2,900 globally and around 1,000 locally.
The company operates over 1,500 trucks in Sri Lanka and deploys state-of-the-art technology to offer customers convenient services. CSE Chairman Ray Abeywardena said the bell ringing by Expo Lanka Holdings marks a historic and landmark achievement in the rich history of the company.
“CSE is extremely delighted in the journey of Expo Lanka, a feat that cannot be achieved single-handedly. The company is a household name and it is amazing to see how it has grown to what it is today with the pioneering efforts of Hanif.
CSE has been in the forefront of capital market development in the country for over three decades comprising 20 industry groups. The Exchange offers state of the art technology and provides Internet and mobile trading for local and foreign investors who have maintained a strong presence since the launch of the Exchange in the mid 1980’s.
The CSE has 297 listed entities representing 20 sectors with a market cap of around Rs. 2,839.45 billion as at end 2018.