24. Access Engineering
Access Engineering maintains its position at number 24 in the Business Today TOP 30. While the construction sector in the country saw a slow down during the early part of the year, infrastructure projects initiated or those which resumed activity ensured that construction remained a main driving force in the economy. With value engineering and engineering services being the core sectors of Access Engineering, the company has also found the need to diversify into other areas including real estate and motor vehicles. As such, overall Access Engineering has continued their growth momentum during the financial year.
With the strategy to ensure financial stability by focusing on real estate the company has set a target of constructing three million square feet of real estate over the next five years. The total asset base of the Group was increased by 38 per cent, which was a result of the acquisition of land in Malabe, construction of Access Tower 2 and various other investments.
The year saw the commencement of the Public-private partnership with the UDA on the construction of apartments for public sector employees.
The company recorded a revenue of 11,604 million rupees with a profit after tax of 2,087 million rupees. Investments were made so that the backward integration supply chain would be further strengthened.
As a development partner of the country, where many of the infrastructure projects are done by Access Engineering, the Company will need to continue to upgrade and strengthen its capacity so that it remains the selected choice in the sector.