Annual Report 2008 - Ministry of Finance and Planning

3. Performance of Public Enterprises
162
The total assets of the NWS&DB has increased to Rs.115
billion in 2008 from Rs.101 billion in 2007.
The NWS&DB utilized 87 percent of its total donor funds
received to the water supply & sanitation section projects
in 2008. The NWS&DB should focus more on the timely
completion of the development projects. It is noted that
the Board needs to prioritize utilizations of capital funds
effectively. Issues of free water supplied to tenement gardens
needs to be looked at as it has a substantial impact on the
total operational costs of the NWS&DB.
Airport and Aviation Services (Sri Lanka) Limited
(AASL)
The AASL continued to be a profit earning entity in 2008,
generating an operating profit of Rs. 1,787 million. The
non-aeronautical sector generates more revenue than the
aeronautical sector. The AASL incurred no financial cost in
2008 as against Rs.70,840 incurred in 2007. Property, Plant
& Equipment of AASL has been valued at Rs. 396 million as
at end 2008 which is a significant increase.
Chart 3. 19
Table 3.21
Financial Highlights of AASL
Rs. mn
2005 2006 2007 2008
Total Revenue 2619 4454 5340 5831
Total Expenditure (1,950) (2,334) (2,870) (4,043)
Staff cost (1325) (1576) (1984) (2918)
Other cost (625) (758) (886) (1125)
Operating profit before Tax 669 2120 2469 1787
Profit/((loss) after Tax 423 1373 1508 1152
Total Assets 2608 4758 6414 7934
Total Non Current Assets 128 477 576 999
property, Plant & Equipment 128 109 160 396
Differed Income Tax Assets 368 416 603
Total Current Assets 2480 4276 5837 6935
Short term Investments 1563 2764 4069 4583
Cash & Bank Balances 121 530 548 416
Other Receivables 796 988 1220 1936
Total Shareholders Equity 1098 2772 4190 5342
Earnings per Share 2115 6865 7542 5703
Return on Net Assets (%) 39 50 39 22
Net Profit Ratio (%) 26 48 46 31
Source: Airport & Aviation Services (SL) Ltd
Sri Lanka Ports Authority (SLPA)
The SLPA has been facing severe financial challenges
during the year 2008 most of which are beyond their control.
Changes which were taken place in the shipping industry
and the global financial crisis are some of these key issues.
As a result total revenue of the SLPA records a marginal
decrease by 2.87% in 2008 when compared with 2007.
Further the operating profit has also reordered a decrease
by 15.38% in 2008 over the period from 2007. The SLPA
made a significant loss of Rs.10, 035 million in 2008 mainly
due to exchange variations on the Japanese yen Loan. It
has also incurred an operational loss due to the reduction of
productivity per tonnage.
Ministry of Finance and Planning Sri Lanka
Annual Report 2008