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in the South African port operation and the new shipping agencies secured during last financial year contributed positively towards the growth in the results of Cargo Logistics sector. The group has also submitted a bid to participate in the development of the Colombo South Harbour.

The Group’s recent investment in the inward remittance market through its Western Union agency operation fared well during the quarter under review and has seen a substantial increase in its sub agent locations.

Other operating income for the quarter includes the profit of Rs.24.6m on divestment of its investment in Aventis Pharma Ltd., an associate company.