The boost in Sri Lanka’s tourism sector has helped the entities in the industry, such as Jetwing Symphony PLC, to record positive earnings for the financial year ended on March 31, 2024, after having to deal with several shocks since the outbreak of the pandemic and then the economic crisis.
Jetwing Symphony, a holding company with a number of entities involved in the business of hoteliering, for the 12 months ended on March 31 (FY24), saw its earnings grow 115 percent year-on-year (YoY) to Rs.92 million, recovering from the Rs.632 million loss incurred in the 2023 financial year (FY23).
With the tourist arrivals having increased steadily last year, particularly having picked up the pace in 1Q24, the group recorded a revenue of Rs.3.6 billion, a 71 percent increase YoY.
During the year under review, 1,787,408 tourists visited the island nation.
For the 12 months, the group saw its gross profit expand Rs.79 percent, profit from operations…
tourism/273-283868″ target=”_blank”>Read further.
