The Associated Motorways Ltd. (AMW) Group, which made a ‘profit attributable to shareholders’ of Rs. 34.2 million (after taking into account minority interest) for the six months ended September 30 of last year, showed a loss of Rs 3.64 million during the corresponding period this year, data on its income statement showed.

Group turnover during the period under review declined by 12% to Rs 867 million, as against a turnover of Rs 981 million recorded during the same period last year. Gross profits during this period declined by 17% to Rs 143 million.

Profit from operations declined by 29% to Rs 55.3 million during the period under review, while finance costs increased by 59% to Rs 57.7 million. This resulted in the Group making a loss of Rs 2.47 million during the period under review, as against a profit of Rs 42 million during the same period last year.

The Group made a ‘loss before taxation’ of Rs 1.46 million during this period, as against a profit of Rs 44.9 million during the corresponding period last year. After tax loss (before taking into account minority interest) during the period under review was Rs 2.65 million, as against a profit of Rs 33.2 million made during the same period last year.