SEC expands profit margin

Ishara Mudugamuwa

Turn over of the State Engineering Corporation (SEC) has increased by Rs.500 million by October 2012 compared to the same period last year, Construction, Engineering Services, Housing and Common Amenities Ministry sources said.

State Engineering Corporation achieved a recorded turn over of Rs.5,921 million in 2010 and it increased up to Rs.6,281 in 2011. As per profit of the corporation in 2010, it increased by 56 percent in 2011. Expected turn over for 2012 is Rs.9,206 million.

The corporation completed a number of projects this year. Some of them are construction of the third ward complex of the Colombo National Hospital, Construction of all buildings at highway entrances, Borella Singhapura housing project, Construction of the Matara district secretariat.

The corporation also started a number of projects this year. Estimated income up to August 31 was Rs.403 million. But the corporation earned a recorded income of Rs.491million.

The State Engineering Corporation is engaged in the construction of housing schemes under the Janasewana one million housing development programme.