SLT posts Rs. 3.26 b profit in first half of the year

The SLT group has posted strong financial for the half year ended June 30 2011 with a 51% growth in its profit before tax of Rs. 3.26 b when compared to the corresponding period of the previous year. The Group consists of the parent company, Sri Lanka Telecom PLC (SLT) and seven subsidiaries including the company's mobile arm Mobitel (Pvt) Ltd. (Mobitel). During the first six months, SLT group recorded a net profit after tax of Rs. 2.44 b which is a growth of 77% over the same period of the previous year. The Group's KPIs such as EBITDA, PBT and PAT margins have improved over the previous year, displaying SLT Group's quest for continuous improvement in financial returns.

The Group reported a revenue of Rs. 24.85 b for the half year ended June 30, 2011 with impressive revenue growth in Broadband and PEO TV.

Meanwhile, the parent company SLT has recorded a profit before tax of Rs. 2.35 bn for first six months, which is a 70% growth, compared to the same period in the previous year.

Net profit after tax of the company for the same period has increased by 106% to Rs. 1.76 b. The company's net profit margin has improved to 11% from 5% of the corresponding period of the previous year.

SLT Group Chairman Nimal Welgama said that SLT has strengthened its position as the country's leading Integrated Telecommunication Service Provider with strong market positions in Fixed, Mobile, International, Data, Wholesale and Broadband.