Sri Lanka Telecom reports increased operating profits, revenue in 1H17

17 Aug 2017

Sri Lanka Telecom Group, which comprises eight subsidiaries including mobile arm Mobitel, has published its group and holding company financial results for the six months ending 30 June 2017, with consolidated revenue climbing 2% year-on-year to LKR37.4 billion (USD246.6 million) and EBITDA increasing by 4% to LKR11 billion; EBITDA margin was stable at 29%. Meanwhile, the group’s holding company Sri Lanka Telecom recorded revenues of LKR22.1 billion for the six-month period under review, up 4% y-o-y, while also keeping a lid on operating costs, which edged up 1% to LKR16.3 billion.

Commenting on the group results, chairman Kumarasinghe Sirisena confirmed that the new Group Strategic Directional Plan ‘will drive each segment of the group together to boost market leadership, whilst enhancing corporate values utilising group strengths’. SLT Group plans to continue simplifying and streamlining the business, and rationalising costs going forward, he added, while its CEO Dileepa Wijesundera expressed confidence ‘in achieving better returns through continuous investments in expansions and technological improvements’.

Key developments in 2017 to date it says, include strengthening the National Backbone Network, raising concerns on spectrum issues, strengthening of the broadband next generation network (NGN) in terms of improving geographical coverage of its fibre-to-the-home/premises (FTTH/P) network with speeds of up to 100Mbps, as well as continuing the deployment of its 4G LTE network. Furthermore, the Group reported that it has successfully completed a field test of ‘pre-5G’ LTE-A Pro technology, achieving 855.9Mbps user throughput using Advanced Carrier Aggregation in TD-LTE 2500MHz band, and over 700Mbps cell throughput, which was achieved on a single TDD carrier using Massive MIMO and 5.5 millisecond user plane latency.

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