SriLankan Catering posts Rs. 3.9 bn net profit | Daily News

SriLankan Catering posts Rs. 3.9 bn net profit

SriLankan Catering Ltd. has recorded a steady financial performance for the financial year ended March 31, 2018 with a 26% year-on-year growth in operating profits from Rs 3.03 billion to Rs. 3.81 billion.

Its unaudited financial statements also showed that the operating profit ratio which stood at 42% in the last year improved to 44% during the year 2017/18. It has also reported a post-tax net profit of Rs. 3.9 billion during the year, which is a 4% increase compared to the previous year.

A somewhat low growth in net profit has been reported as a result of a drop in exchange gains which dropped from Rs 833 million in the previous financial year to Rs 202 million this year.

Ranjit Fernando, Chairman of SriLankan Catering who is also the Chairman of SriLankan Airlines, said, “SriLankan Catering continues to be a tower of strength to our nation and the SriLankan Airlines Group. Last year, they have achieved yet another stellar performance. The company has proven itself to be a perfect example of consistency and has crossed the Rs. 2 billion mark in profits every year, during the last five years.

This performance for the financial year 2017/18 was a 26% increase over the operating profit of the previous year, a tremendous achievement by the catering arm of Sri Lanka’s National Carrier.”

Lalith Withana, Chief Executive Officer of SriLankan Catering, said: “The impressive performance of the company is evidence of the strong negotiation skills and financial discipline of the entire team who have worked hard to overcome the multiple challenges faced during the past year.”

 


 

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