Annual Report 2010 - Ministry of Finance and Planning

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Ministry of Finance and Planning Sri Lanka > Annual Report 2010the SLTB through the national budget byproviding Rs. 3,620 million for operatingin uneconomical routes and provision ofSeasonTickets and Rs. 849 million for thepurchase of capital goods.It is however noted that while SLTB’sfinancial performance is a matter forconcern, SLTB has been a key partnerof the government’s reconstructionand rehabilitation efforts of theNorthern and Eastern areas of thecountry.Despite being key to the country’stransportation needs SLTB’s strategiesdoes not address the government’sexpectations adequately. It is noted thatSLTB does not have a clear strategy toarrest the management weaknessesthat has resulted in low productive useof employees and idling assets.Sri Lanka Telecom (SLT)SLT is a listed company of which thegovernment owns 49 percent andother agencies own 51 percent. Theyear 2010 proved to be a landmarkyear, as it became the 1st companyin the CSE to surpass the Rs. 50billion annual turnover, recording ayear on year growth in revenue of 4.5percent.SLT group reported a growth of 327percent of its profit before tax atRs. 5.9 billion while its profit aftertax grew by 407 percent to Rs.3.94 billion. Mobitel (Pvt) Ltd, a fullyowned subsidiary of SLT performedwell with its revenue recording a yearon year growth of 985 percent. Othersubsidiaries of the group including SriLanka Telecom (Services) Limited andSLT Publications (Pvt) Limited toohas contributed to the noteworthyperformance of SLT group.SLT’s above average performance isreflected in the growth of its marketcapitalization, making SLT a muchsought after investment. SLT declareddividends of Rs. 0.60 per sharewhich is a year on year growth of 140percent.SLT, standing by the governmentsvision to make every citizen ICTempowered has begun to invest inspreading IT into remote villagesand while introducing high qualitynetworking solutions. It is envisagedthat these investments will enableSLT to not only consolidate itsposition as the premier telecomTable 4.26 > Key Performance Indicators of Sri Lanka Telecom PLC2010 Rs. MnTotal Income 50,250Operating Cost 33,527Net Profit before Tax 5,961Net Profit after Tax 3,943Shareholders funds 49,849Total Assets 87,030Per Share (Rs.) 2010Earnings per Share (EPS) 2.18Dividends per Share (DPS) 0.60Market Value 49.00RatiosROE % 8.20ROA % 5.91Operating Margin % 9.86Dividends cover (Times) 3.64Interest cover (Times) 6.89Asst turnover (Times) 0.58Gearing 1:0.14Current 1:0.88Quick 1:0.83Source: Sri Lanka Telecom Plc229
4 | State Owned Enterprises (SOE)Chart 4.11 > Marcket CapitalizationChart 4.12> Share Price Movements60Rs. Bn100908070605040302010032.49 27.97 29.78 50.0856.8555.9583.0288.442003 2004 2005 2006 2007 2008 2009 2010Rs.504030201002003200420052006200720082009Highest Value (Rs.) Lowest Value (Rs.)Last Traded Price (Rs.)2010230
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Ministry ofFinance and Planning(as
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Heads ofDepartments under thePurvie
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ContentsChapter 1 Development Persp
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Chapter 5 Foreign Financing 243Over
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Ministry of Finance and Planning Sr
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SRI LANKA AT A GLANCE - 2005 & 2010
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BRIEFINGSBriefings“Much remains t
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1 | DEVELOPMENT PERSPECTIVESEconomi
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1 | DEVELOPMENT PERSPECTIVESThe Ser
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1 | DEVELOPMENT PERSPECTIVESMeanwhi
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1 | DEVELOPMENT PERSPECTIVESBox 1.1
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1 | DEVELOPMENT PERSPECTIVESDecline
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1 | DEVELOPMENT PERSPECTIVESThe inc
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1 | DEVELOPMENT PERSPECTIVESSince 1
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1 | DEVELOPMENT PERSPECTIVESThe inc
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1 | DEVELOPMENT PERSPECTIVESContd..
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1 | DEVELOPMENT PERSPECTIVESTable 1
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1 | DEVELOPMENT PERSPECTIVESThe gov
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1 | DEVELOPMENT PERSPECTIVESIndustr
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1 | DEVELOPMENT PERSPECTIVESelectri
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1 | DEVELOPMENT PERSPECTIVESWelfare
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1 | DEVELOPMENT PERSPECTIVESEnhance
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1 | DEVELOPMENT PERSPECTIVESEnding
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03REFORM INITIATIVES173
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6 | DEVELOPMENT FINANCEOverviewThe
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6 | DEVELOPMENT FINANCEduring the y
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6 | DEVELOPMENT FINANCEMicrofinance
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6 | DEVELOPMENT FINANCEBox 6.2Micro
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6 | DEVELOPMENT FINANCEfertilizer i
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6 | DEVELOPMENT FINANCEIn order to
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6 | DEVELOPMENT FINANCETable 6.12 >
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7 | FINANCIAL STATEMENTSFinancial S
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7 | FINANCIAL STATEMENTSStatement o
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7 | FINANCIAL STATEMENTSAnalysis of
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7 | FINANCIAL STATEMENTSStatement o
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7 | FINANCIAL STATEMENTSNotes to Fi
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Financial StatementsHead-wise Summa
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Financial StatementsHead-wise Summa
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Financial statementsHead-wise Summa
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Annual Report 2010 - Ministry of Finance and Planning

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