27.01.2016 in Expolanka, Latest by copaceticweb 0

Expo Rewind: 2015 Year in Review

Expolanka recorded a PBT (Profit before Tax) of Rs 1.6 billion for the 9 months ended on 31st December 2015 recording an increase of 70% in comparison to the corresponding period in the previous financial year.

A look at the milestones of each Company will reveal the strides that respective companies have taken during 2015.

Expo Freight (EFL)

EFL Sri Lanka moved its head office operations from Colombo to 390, Avisawella Road, Orugodawatte, to provide a strategic location to carry. The new state-of-the-art office complex covers 25,000 sq. ft. large area and acts as one of the central locations for its globally dispersed freight and logistics divisions. The site termed as the ‘EFL Campus’ includes a 100,000 sq. ft. which is an environmentally friendly warehouse, and also provides a host of in-house facilities for employees and visitors.

EFL selected HighJump, a global provider of supply chain management software, to integrate its freight forwarding and logistics management activities as part of its effort to create a single seamless process. HighJump offers a trading partner network technology that streamlines the flow of inventory and information from supplier to store shelf. HighJump supports more than 14,000 customers in 77 countries, ranging from small businesses to global enterprises, by providing functionally rich and highly adaptable solutions to efficiently manage customers’ warehousing, manufacturing, transportation, distribution, trading partner integration, delivery routes, and retail stores.

EFL has invested in horse and trailers to move containerized and break bulk cargos for both heavy and light weights to provide an end-to-end service for its South African customers. The main reason behind this investment is to meet with the increasing demand for secure transport solutions. The fleet is expected cover movements between Johannesburg and Durban, along with specialized services for domestic deliveries within the cities, it hopes to expand the fleet with the market growth. EFL has been operating for more than 14 years in the South African market, offering tailor-made supply chain solutions to multiple industries.

The EFL team participated in the ‘Transport Logistics’ Exhibition in Munich, Germany for the first time in May 2015. The event is one of the largest in Europe, and featured over 2,050 exhibitors, with more than 55,000 attendees visiting the exhibition over the 3 days of the exhibition. This was a great opportunity for EFL to increase its brand visibility and presence in Europe as it took part in this exhibition alongside other international exhibitors ranging from logistics providers, mobility, IT and supply chain management.

EFL’s success was reflected through the different awards and recognition received during the year. EFL Sri Lanka was awarded with the accolade for Top Freight Forwarder and Gold Award of Qatar Airways Cargo at Qatar Airway’s Annual Agents Awards night in Colombo. This ceremony was organized to recognize the Region’s Top Freight Forwarding Agents and their role in supporting the Airline’s cargo growth in 2014. EFL was able to secure 3 awards at MAST Global Logistics Awards Ceremony in Hong Kong, for the 10th consecutive year.  EFL was awarded with the Service Provider of the Year 2014, Best Global On-Time Performance 2014, and On-Time Lane Performance 2014.

EFL Sri Lanka was further recognized by Emirates Airlines for their continued support by being placed among the Top Agents for 2013/2014. Furthermore, Virgin Atlantic Cargo in UAE recognized EFL among its Top Forwarders. In addition to this, Turkish Airlines awarded EFL Sri Lanka for Best Performance in Total Sales for 2014, for their support rendered in helping Turkish Airlines entry and growth in Sri Lanka, as Turkish had commenced operations in the market a little over a year ago.

Classic Travel

Classic Vacations, an arm of Classic Travel, was appointed as the Preferred Sales Agent (PSA) of Cox & Kings Ltd, the leading holidays and education travel group with operations in 23 countries, to promote and sell outbound holidays from Sri Lanka. After more than an year achievement of this title with a Global travel group like Cox & Kings enables Classic Vacations to leverage on Cox & Kings Ltd.’s network spanning across Europe, Middle East, USA, Australia, and New Zealand, to further Classic Vacations’ standing as one of the leading luxury vacation luxury vacation travel company in Sri Lanka. Apart from its global operations, Cox & Kings Ltd., is a well-known name in India with a presence across more than 150 locations within the country and is a very strong inbound player as well.

Classic Travels won the Cathay Pacific Platinum Award (No.1) and Singapore Airlines Silver(No.2) during the year of 2015, to be in line with its vision “To Be Recognized As The Customer Service Provider Par Excellence In The Travel Arena” . Apart from this, Classic Travel was able to secure the position as the No.1 PSA in Sri Lanka for Qatar Airways, Emirates, Thai, and Etihad, and No. 3 PSA for Sri Lankan Airlines.

Norfolk

Expolanka’s food manufacturing business Norfolk Foods Pvt Ltd had an eventful 2015 and recorded steady growth. In February 2015, Crescent Fine Foods, Norfolk’s food outlet took over the S, Thomas College Mt. Lavinai canteen where a range of Norfolk products are available in addition to breakfast and fresh juices.

In July 2015, Norfolk unveiled the new Chinese range at the 16th Edition of Culinary Arts – 2015 Food Expo organized by the Chef’s Guild of Sri Lanka. Norfolk’s Chinese range presents a variety of delicious items consisting of Shumai, wontons, dumplings and springrolls and a fish range of crumbed fish fillets and fish goujons. The Chinese range comes in chicken, vegetable and prawn varieties. This eye and palate pleasing range attracted many food enthusiasts at the Food Expo.

Later in the year, Norfolk introduced a new kind of chicken lasagna specifically for its retail customers and value pack with eight products included in it.

On par with its excellent products, Norfolk today, caters to large food franchises of international repute as well as to star class hotels and restaurants. High quality food items made to stringent standards have directly resulted in the unwavering reputation the company holds amongst its extensive clientele.

Akquasun

Building on the growth drive of the previous year, Akquasun launched three new branded destinations in 2015 namely, Seychelles, Philippines and South America. The new destinations will operate under the Akquasun umbrella.

 In a series of developments to take the Company higher, Akquasun established the platform for the B2B Online System which is set to revolutanalize the B2B market in India. The Company’s B2B Platform is a unique offering which will provide agents to have access to over 5000 hotel rooms worldwide. The Platform design and framework was launched in early 2015 and is scheduled to go live in early 2016. In line with this strategy of widening the online presence, the Company revamped its social media strategy and adopted a more engaged approach

Later in the year, Akquasun launched its 4th consecutive roadshow which covered six cities in India. A considerable number of partners and associations graced the event, which is a much looked forward to event within the B2B Indian market.

As part of the business strategy, the Company increased its focus on the MICE business during this year and serviced close to 10,000 packages across various destinations.

Expolanka Limited

The Group’s International Trading Company, Expolanka (Pvt) Limited performed beyond expectations to deliver the Company’s annual budget by the end of Q3. The Company further strengthened on its performance from the last financial year.

In spite of many local and international challenges, Expolanka Limited maintained its position as Sri Lanka’s No. 1 exporter for Fresh Coconut, Desiccated Coconut and Fresh Fruits & Vegetables. The Company over the course of last year has also managed to move out of a single-origin trading model and migrate successfully into a multi-origin trading model. This has enabled the Company to retain its customers in spite of turbulent changes in prices in the Sri Lankan market. The Company has now successfully begun the exports of similar produce out of India & Indonesia as well.

Additionally, Expolanka Limited has now expanded into more coconut related products with the foray into the exports of Organic Virgin Coconut Oil, Organic Coconut Milk & Cream and Organic Coconut Flour. The Company had already recorded exports to the US, Germany, Bulgaria, Czech Republic & Australia in the initial months of exports.

Tropical Green Pvt Ltd, a part of Expolanka Limited achieved the feat of becoming the No. 1 processor & exporter of Organic King Coconut Water in the country as well as a leading exporter of Organic Dried Fruits as well. The Company has also been recognized as the leading supplier to Europe’s No.1 Organic Coconut Water Brand.

Corporate wins

Expolanka Holdings PLC won the runners up award in the Diversified Conglomerate category at the ACCA Sri Lanka Sustainability Awards presented by the Association of Chartered Certified Accountants (ACCA) for the second consecutive year. The ceremony awarded 14 business entities under 7 categories. The ACCA Awards are organized to recognize the commitment of the country’s business entities to transparent reporting and disclosure of environmental, social or full sustainability information.

‘Venture Engine’ an entrepreneurship development programme which is sponsored by Expolanka Holding PLC was recognized at the prestigious Asia Responsible Entrepreneurship Awards Programme (AREA) 2014 held in Macau on the 19th of June 2015. The AREA awards is held to honour Asian businesses for championing sustainable and responsible entrepreneurship in several categories, such as Green Leadership, Investment in People, Health Promotion, Social Empowerment, SME CSR and Responsible Business Leadership. This follows the Group’s previous win at the AREA Awards for its ‘Expo Medix’ CSR programme aimed to provide health care services to less-privileged communities, under the category of Health Promotion.

Sector Financial Performance

  • Freight and Logistics Sector recorded a revenue of Rs 35 billion for the 9 months ended on 31st December 2015 recording a 23% increase.
  • Travel and Leisure sector experiences an improved revenue of Rs 2.8 billion recording an increase of 40% in comparison to the corresponding period of the previous financial year.
  • International Trading and Manufacturing Sector of Expolanka recorded a revenue of Rs 3 billion during the period. Furthermore, the perishable goods business was able to record commendable results, even with exchange fluctuations and rising commodity prices.

Expolanka Holdings PLC aims to build on the profitable strategies implemented, and progress with its growth as a key conglomerate in the country with care and attention being given to the sustainable business practices.

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