Sri Lanka Ports Authority profits sharply up in 2017

ECONOMYNEXT – State-run Sri Lanka Ports Authority said it had made 13.3 billion rupees of profits in 2017, up from 1.03 billion rupees a year earlier, with the activities at its own terminals and concessions showing growth.

Jaye Container Terminals owned by SLPA, which saw weak volumes had grown 9.2 percent in the fourth quarter.

All terminal of the port had recorded volumes grew 8.3 percent to 6.2 million containers in 2018, with Colombo International Container Terminals growing 19.3 percent and South Asian Gateway Terminals growing 10.9 percent.

The private terminals pay concession fees to SLPA, which brings additional revenue.

Total cargo handled in 2017 had risen 11.5 percent to 93,857 metric tonnes.

Revenues grew 2.2 percent to 44 billion rupees in 2017, while operating expenses fell 2.1 percent 28 billion rupees, according
to central bank data.

Pre-tax profits can vary due to exchange losses on foreign exchange denominated loans.  (Colombo/May17/2018)

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