Wednesday, 26 May 2021 17:22

Access Engineering takes up ihe lead in in building material manufacture Featured

Access Engineering has expanded its infrastructure building business by venturing into building material manufacture in a big way, officials of the company announced

Access Engineering PLC (AEL) has invested Rs. 131 million to take up a 50% stake in Lanka AAC Ltd in new venture to manufactures Autoclaved Aerated Concrete (AAC) blocks, a lightweight brick used in the construction industry.

AEL’s core business is construction of buildings and other infrastructure and manufacture of construction-related material such as asphalt product, quarry products, crusher products and ready-mix concrete.

The latest venture will further extend its business lines in the ready-mix concrete segment, they said.

In the first half of FY21, AEL’s consolidated turnover was Rs. 10 billion, down from Rs. 12 billion a year earlier.

Pre-tax profit was Rs. 604.7 million, sharply down from Rs. 982.6 million in the first half of FY2

 

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