Sri Lanka Stock Picks

Sri Lanka stock picks site has been developed to give first hand information with regard to share trading opportunities available for investors who do not like go through lengthy research reports, calculations,etc but to have a clear idea about stocks that have future up side potential.Our service is just not for day traders but for the investors who wish to see their money growing in the long run.Our main objective is to provide information relating to trading under one roof.

Thursday, July 14, 2011

SLT to invest Rs. 5 b in Mobitel

Sri Lanka Telecom (SLT) said yesterday it has decided to invest Rs. 5 billion to expand its mobile arm Mobitel Ltd.

“This investment… will be on a staggered basis and is expected to be made within a period of six months. Funds of this investment will be used by Mobitel for expansion plans in terms of coverage, capacity, and network modernisation,” the company said in a disclosure to the Colombo Stock Exchange.

In 2010 SLT’s network expansion and other investments in 2010 resulted in capital investment of Rs. 4.9 billion.

SLT Group in 2010 achieved revenue of Rs.50.25 billion which is a 4.5% growth YoY while delivering a Profit before Tax (PBT) of Rs. 5.96 bn, with a YoY noteworthy growth of 327%.

The Group achieved a Profit after Tax (PAT) of 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.

source - www.ft.lk