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Sri Lanka Equity Forum » Stock Market Talk » SLPA EARNED 11B IN 2016


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1 SLPA EARNED 11B IN 2016 on Fri Mar 10, 2017 7:40 pm


Vice President - Equity Analytics
Vice President - Equity Analytics
SLPA earned a profit of Rs 11 billion in 2016 – Arjuna
March 9, 2017  11:25 pm

Sri Lanka Ports Authority had earned a profit of 11 billion rupees in 2016 showing an 83 percent increment in relation to the previous year, Minister of Ports and Shipping Arjuna Ranathunga said. 
He declared these financial records officially while addressing a media conference held in the auditorium of the Ministry of Ports and Shipping on today (9) to reveal the financial progress of the Sri Lanka Ports Authority (SLPA). 
Sri Lanka Ports Authority had to face many challenges to accomplish these substantial achievements, he emphasized.
“Sri Lanka Ports Authority had earned an income of 44 billion rupees in the previous year. After the deduction of operational expenditure, expenditure on administration, expenditure on loan interests and other expenditure from the total income Sri Lanka Ports Authority had earned a profit of 11 billion rupees over the previous year.” 
“Thereby amount of profit has increased by 5 billion rupees in relation to year 2015. It means Sri Lanka Ports Authority had earned a profit of 6 billion rupees in 2015. Thereby Sri Lanka Ports Authority has increased its income by 83 percent in one years’ time,” Minister Ranathunga said.
Sri Lanka Ports Authority had to face many challenges to achieve this victories position, he said. 
He added that: “Now there is a tendency in the maritime industry to use large vessels instead of small vessels. Therefore we need a permanent solution for this problem. I think, initiating operations in the Eastern terminal is the permanent solution for this issue. Now we are discussing with an investor to initiate operations in the Eastern terminal. 
“However we will take substantial decision which will provide more advantages to the country.”
“Employees of the Sri Lanka Ports Authority are satisfied now. Few union leaders delivered wrong opinions to the employees. But all the employees have understood the real situation. Now employees have a direct relationship with us. We have appointed Housing committees, transfer committees and promotion committees to resolve problems related to employees....,” Minister Ranathunga said

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