Resilience in diversity makes SLT profits rise

The SLT Group has achieved a 31 per cent growth in Net Profit after Taxation (NPAT) of Rs. 7,367 million in 2008 when compared to Rs. 5,640 million of the previous year.

Apart from the TDC refund, this growth was the result of remarkable achievements of SLT’s fully own subsidiary Mobitel and expansion of data and IP related services of SLT.

In achieving the results the group has allocated Rs. 2,193 million for the government revenue by way of Corporate Taxation apart from the indirect taxes and levies.

The NPAT of SLT has grown by 23 per cent to Rs. 6,601 million compared to Rs. 5,388 million of the previous year, showing resilience to the difficult conditions that prevailed in the market and economy.

The Chairperson of SLT and of its subsidiaries Leisha de Silva Chandrasena said that the diversification strategies and customer centric business operations have paid off and resulted in achieving impressive results in a turbulent and chaotic environment.

She hopes that the group will continue to traverse the same path towards progress and growth, while concentrating more on cost base strategies.

During the year under review the group achieved a 9 per cent increase in revenue that amounts to Rs. 47,044 million when compared to Rs. 43,234 million of the previous year.

This growth was generated by the subsidiaries and data and IP related services of SLT.

The group was hit by the adverse economic conditions that prevailed globally during the year 2008, and incurred an increased operational cost from 21 per cent to Rs. 25,095 million, when compared to Rs. 20,748 million of the previous year.