Telecom CEO sees net profit up 70 pct

SINGAPORE:Leading fixed-line operator Sri Lanka Telecom said on Wednesday it expects a 70 percent increase in net profit this year, and a similar growth rate in 2007.

"We are looking at 70 percent growth in our net profit over last year. There will continue to be strong growth rates in 2007, we're expecting this sort of growth momentum in 2007," Chief Executive Shuhei Anan told Reuters in an interview.

Sri Lanka Telecom is the third most valuable firm listed on the Colombo bourse. It is 49.5 percent owned by the Sri Lankan government and 35 percent held by Japan's Nippon Telegraph and Telephone Corp.

Reuters