Former SLT Chairman said the company was expected to post a Rs. 4 billion pre-tax profit this year judging by the performance in the first half. Former SLT Chairman said the company was expected to post a Rs. 4 billion pre-tax profit this year judging by the performance in the first half. He also said SLT will have to invest more in to its fully owned mobile operator Mobitel and on data services.
The former chairman of the second largest capitalized company on the Colombo Stock Exchange told the media that SLT will have to give more value added services to customers to maintain its dominant position.
“We must expand the ADSL and we have to invest in new technology especially in value added services,” said Thilanga Sumathipala, Former Chairman SLT.
“Despite having problems with implementing its new billing system the company is likely to maintain its earnings record this year,” Sumathipala said.
“During the last six months we have earned Rs. 2 billion and we are looking end of the year Rs 4 billion,” he says.
The SLT share has risen by nearly 30 percent over the last few weeks after hitting a low of Rs. 14.50 this year.