Annual Report 2008 - Ministry of Finance and Planning

3. Performance of Public Enterprises
169
Table 3.30
Financial Highlights of SPC
Rs. mn
2004 2005 2006 2007 2008
Revenue - SPC 2299 2276 2467 2621 2934
- Director of Health Services 4067 5360 5617 8816 9306
Total Revenue 6366 7636 8084 11,437 12,241
Net Profit after int. & Tax 183 213 179 258 215
Source: State Pharmaceuticals Corporation
State Pharmaceuticals Manufacturing Corporation
(SPMC)
The operating profit of SPMC has increased from Rs. 37.14
million in 2007 to Rs.74.19 million in 2008 indicating a
99.75% increase. The revenues of SPMC in 2005, 2006,
2007 and 2008 have been of Rs. 388 million, Rs. 411 million,
Rs. 599 million and Rs.890.24 million respectively. This
performance increase is mainly due to the increasing sales
to the Department of Health Services.
Chart 3.22
Chart 3.21
Trade Sector
Sri Lanka Ayurvedic Drugs Corporation
The Sri Lanka Ayurvedic Drugs Corporation has been able
to increase its total revenue by 40% in 2008 as against 2007.
The gross profit of the corporation has increased by 587% in
2008 mainly due to the decrease in the cost of sales. This is
a remarkable achievement because the corporation incurred
an operating loss and a net loss in 2007.
State Timber Corporation (STC)
The turnover of the STC has been increasing gradually from
Rs.1208 Mn in 2004 to Rs. 2,737 million in 2008. The gross
profit has decreased from 51% in 2007 to 44% in 2008 while
the net profit before tax as a percentage of sales has reduced
from 24% in 2007 to 22% in 2008. The main reason for this is
the increase of cost of sale in the year 2008.
Ministry of Finance and Planning Sri Lanka
Annual Report 2008