Five of Sri Lanka’s biggest State Owned Enterprises (SOE) the Ceylon Electricity Board (CEB), Sri Lanka Transport Board (SLTB), Sri Lanka Railways (SLR), the Department of Posts (DOP), and SriLankan Airlines (SLA) have suffered a cumulative loss of a staggering Rs. 56.6 billion, the Central Bank’s 2014 Annual Report released last week disclosed. However, the financial position of CPC witnessed a turnaround during the year reporting a profit of Rs. 1.7 billion in 2014 compared to Rs.7.9bn loss suffered in 2013.
Accordingly, CEB recorded an operating loss of Rs. 11.7 billion in 2014 in contrast to an operating profit of Rs. 24.6 billion in 2013.
SriLankan Airlines had racked up a 29.0 billion rupee operating loss in 2014, taking total operating losses since parting of ways with Emirates Airlines to 122 billion rupees.
The Central Bank’s annual report for 2014 says the airline’s revenues rose 5.5 percent to115.5 billion rupees but operating expenses rose 4.6 percent to 144.4 billion rupees.
Sri Lanka Railways meanwhile reported an operational loss of Rs. 11 billion last year in comparison to Rs. 5.2 in 2013. Accordingly, the total revenue of SLR increased by 9 percent to Rs. 5.9 billion while recurrent expenditure increased by 60 percent to Rs. 16.9 billion.
Sri Lanka Transport Board (SLTB) during 2014 reported an operating loss of Rs. 1.9 billion compared to a loss of Rs. 3.5 in 2013. Accordingly, the total revenue of SLTB increased by 11.5 percent to Rs. 33.7 billion. However, operating expenditure also increased by 5.5 per cent to Rs. 35.5 billion.
In addition, the operating loss of the Department of Posts (DOP) increased by 4.4 per cent to Rs. 3 billion in 2014, compared to the loss of Rs. 2.9 billion in 2013.
However, three institutions namely the Ceylon Petroleum Corporation (CPC), Sri Lanka Ports Authority (SLPA) and National Water Supply and Drainage Board (NWSDB) recorded profits amounting to Rs. 13.1 billion.
SLPA meanwhile recorded an operating profit of Rs. 8.9 billion in 2014 compared to Rs. 2.4 billion in 2013. The NWSDB in the meantime recorded a profit of Rs. 2.5 billion compared to its profit of Rs. 1.9 billion in 2013.
Accordingly, CEB recorded an operating loss of Rs. 11.7 billion in 2014 in contrast to an operating profit of Rs. 24.6 billion in 2013.
SriLankan Airlines had racked up a 29.0 billion rupee operating loss in 2014, taking total operating losses since parting of ways with Emirates Airlines to 122 billion rupees.
The Central Bank’s annual report for 2014 says the airline’s revenues rose 5.5 percent to115.5 billion rupees but operating expenses rose 4.6 percent to 144.4 billion rupees.
Sri Lanka Railways meanwhile reported an operational loss of Rs. 11 billion last year in comparison to Rs. 5.2 in 2013. Accordingly, the total revenue of SLR increased by 9 percent to Rs. 5.9 billion while recurrent expenditure increased by 60 percent to Rs. 16.9 billion.
Sri Lanka Transport Board (SLTB) during 2014 reported an operating loss of Rs. 1.9 billion compared to a loss of Rs. 3.5 in 2013. Accordingly, the total revenue of SLTB increased by 11.5 percent to Rs. 33.7 billion. However, operating expenditure also increased by 5.5 per cent to Rs. 35.5 billion.
In addition, the operating loss of the Department of Posts (DOP) increased by 4.4 per cent to Rs. 3 billion in 2014, compared to the loss of Rs. 2.9 billion in 2013.
However, three institutions namely the Ceylon Petroleum Corporation (CPC), Sri Lanka Ports Authority (SLPA) and National Water Supply and Drainage Board (NWSDB) recorded profits amounting to Rs. 13.1 billion.
SLPA meanwhile recorded an operating profit of Rs. 8.9 billion in 2014 compared to Rs. 2.4 billion in 2013. The NWSDB in the meantime recorded a profit of Rs. 2.5 billion compared to its profit of Rs. 1.9 billion in 2013.
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