Aitken Spence Revenue Improves in Q121 as Maldives Tourism Recovers

Sri Lanka’s Aitken Spence PLC saw its leisure sector performance improve as revenue recovered to 3.5 billion rupees at the end of June 2021, as reported in Economy Next. This is a significant increase from the 195.5 million rupees earned in the same period of 2020.

“The Tourism sector showed promising results with an increase in revenue and reduction in losses during the first quarter. One of the main contributing factors was the overseas hotels in Maldives which were operational during the first quarter,” states the group. The tourism sector recorded a loss after tax of Rs. 1.8 billion, a 35.2 per cent decrease from the previous year’s loss of Rs. 2.8 billion.

Aitken Spence operates five resorts in Maldives: Heritance Aarah, Adaaran Club Rannalhi, Adaaran Select Hudhuranfushi, Adaaran Select Meedhupparu and Adaaran Prestige Vadoo. While Adaaran Select Hudhuranfushi reopened on 1 March 2021, rest of the properties had resumed operations at the end of September 2020.

Featured Image: Heritance Aarah