- SLT Group PBT up by 327% to Rs. 5.96 Bn
- PAT increases by 407% to Rs. 3.94 Bn
Colombo, Sri Lanka, February 23rd 2011 - Sri Lanka Telecom (SLT), the leading National Integrated Telecommunications Service Provider notched exemplary milestones for 2010 including the status of being the First Listed Company in Sri Lanka to post a record Rs 50.25 Bn in revenue in a Financial Year. Releasing the SLT Group and Company financial results for the 12 months ending 31st December 2010, the Group also delivered a Profit Before Tax (PBT) of Rs 5.96 Bn, with a YoY noteworthy growth of 327%, while the Group’s Profit After Tax (PAT) hit Rs 3.94 Bn, a remarkable increase of 407%.
The impressive financial results were mainly driven by the improved performance delivered by SLT, the parent Company of the Group and exceptional performance by Mobitel, the Mobile arm of the SLT group.
Group free cash flow showed an increased from a negative Rs. 2.0 Bn in 2009 to Rs. 8.8 Bn in 2010. Comparatively low capital expenditure and better performance overall, saw an improvement in cash flows.
Group EPS increased from Rs. 0.43 in 2009 to Rs. 2.18 in 2010, which is an increase of 407%, which naturally permeated to better shareholder value.
The impressive 147% growth of Rs. 3.97 Bn in PBT achieved by SLT in 2010 is primarily due to the infusion of prudent operational efficiencies and through restructuring. The Company experienced a marginal drop in revenue to Rs. 33.31 Bn in 2010 from Rs. 34.09 Bn in 2009, mainly due to price pressures and alternative solutions available in the market. However, SLT was able to improve its NPAT margin from 4% in 2009 to 7% in 2010, while maintaining an EBITDA margin of 30%. During 2010, SLT achieved Rs. 2.48 Bn NPAT compared to Rs. 1.23 Bn in the prior year, an impressive 101% increase YoY.