Exterminators records 167% increase in PAT
Exterminators PLC, Sri Lanka’s premier pest management and environmental technology company, has remarkably demonstrated financial resilience during FY24, achieving notable profitability despite prevailing economic challenges.
The company reported a staggering 167% increase in net profit and an extraordinary 352% rise in profit before tax, alongside a 143% growth in operating profit compared to the previous fiscal year.
Notably, while overall sales dipped by 7%, revenue from service activities saw a modest increase of 3%.This commendable performance, however, was not without its hurdles.
A significant decline of 85% in revenue from international brands can be attributed to stringent import restrictions and diminished consumer purchasing power, primarily due to economic instability.
The impact of increased corporate tax, along with the introduction of value-added tax (VAT) and (SSCL), further exacerbated the challenges.
The middle-class demographic, a vital revenue stream contributing approximately 25% of total income, has been severely affected by rising personal income taxes and inflation, leading to reduced consumption levels.
Exterminators PLC Founder and Managing Director Marlon Ferreira, stated in recent years, the company has undertaken significant initiatives to expand our operations and solidify our position within the industry. Through strategic planning and innovation, Exterminators PLC has adeptly navigated these obstacles, illustrated the resilience of its business model and reinforced its commitment to long-term growth and sustainability.
Nonetheless, amid these trials, Exterminators PLC has displayed remarkable adaptability and strategic foresight.
“As we move forward, it remains poised to capitalise on emerging opportunities while continuing to address the challenges posed by the dynamic economic environment.”
“The ambitious vision to be at the forefront of industry standards is further underscored by the recognition received in the form of prestigious awards.”
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