Srilankan Airlines catering biz operating profit up 24% YOY
Srilankan Airlines subsidiary, Srilankan Catering Ltd saw its operating profit increasing 24 percent year-on-year (YOY) to Rs.4.7 billion for the year ended March 31, 2019, the airline said in media communique.
The operating profit ratio, which stood at 44 percent in the year 2017/18, improved to 48 percent during the year 2018/19.
The company also reported a post-tax profit of Rs.5.7 billion for the year, up 46 percent YOY. The media communique did not include revenue or after-tax profit figures of the company.
However the airline said the net exchange gain increased from Rs.202 million in 2017/18 to Rs.1.07 billion in 2018/19, most likely due to sharp depreciation of the rupee against the US dollar.
Srilankan Catering holds monopoly rights to offer catering services to all airlines operating to Bandaranaike International Airport (BIA) and Mattala Rajapaksa International Airport (MRIA).
Srilankan Catering chairman G.S. Withanage, who is also the Chairman of Srilankan Airlines, said: “Srilankan Catering continues to be a tower of strength to our nation and the Srilankan Airlines Group, with yet another stellar performance.the company has proven itself to be a perfect example of consistency and has crossed the Rs.3 billion profit mark every year in the last four years.”
Sri Lankan Catering Lalith Withana said his team worked hard during the year under review to overcome multiple challenges and achieved many new initiatives, including upgrading some of the facilities and processes of the company. The press communiqué said Srilankan Catering provides approximately 24,000 inflight meals per day for airlines that operate to the Bandaranaike International Airport (BIA) and Mattala Rajapaksa International Airport (MRIA).