SriLankan Catering posts Rs. 5.7 bn net profit

SriLankan Catering Ltd. has recorded a steady financial performance for the financial year ended 31st March 2019 with a 24% year-on-year growth in operating profits from Rs. 3.8 billion to Rs. 4.7 billion, according to its unaudited financial statement. SriLankan Catering is the fully owned subsidiary of SriLankan Airlines.

Its operating profit ratio, which stood at 44% in the year 2017/18, improved to 48% during the year 2018/19. The Company also reported a post-tax, net profit of Rs. 5.7 billion during the year, which is a 46% increase compared to the previous year. The net exchange gain increased from Rs. 202 million in 2017/18 to Rs. 1,070 million in 2018/19.

G. S. Withanage, Chairman of SriLankan Catering, 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. This performance for the financial year 2018/19 was a 48% increase over the operating profit of the previous year and is a tremendous achievement.&

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Laws to curb emergence of terror groups needed - PM

New laws including regulations to control hate speech should be introduced soon to prevent the emergence of new terror groups in the future, Prime Minister Ranil Wickremesinghe said yesterday. Premier Wickremesinghe was speaking at a ceremony held in Ampara to distribute Samurdhi relief to over 600,000 families. He said the attorney general and the justice ministry was currently taking measures on the above matter.

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Italy also relaxes travel advisory

Italy also has relaxed its travel advisory with advice to exercise the utmost caution, keeping the attention threshold in all circumstances. The statement update on travel said the security situation in Sri Lanka is gradually returning to normal even if a state of emergency is still in force until June (21).

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Israel to hold new election as Netanyahu fails to form coalition

The move prevents the scenario of Israeli President Reuven Rivlin selecting another person to try to form a government, but also sends the country into what is likely to be another divisive campaign before a fresh vote that is expected to take place in September."We will run a sharp, clear election campaign which will bring us victory. We will win, we will win and the public will win," Netanyahu told reporters after the dramatic vote. Opposition leader Benny Gantz said that instead of following procedure, Netanyahu opted for "three crazy months" of a new campaign and millions of wasted dollars over new election because he is "legally incapacitated" by looming indictments. "There is no other reason," Gantz said.

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Sancharaka-Poddo : NEW RELIEF PACKAGE FOR INFORMAL TOURISM SECTOR

Titled &Sancharaka-Poddo& the Government yesterday announced a special relief package with a total interest subsidy cost worth Rs. 1.5 billion for the countryinformal tourism sector which was affected by the April 21 Easter Sunday terror attacks.In addition, several other sectors that were directly affected by the terrorist attacks, such as transportation and entertainment will also be given similar financial concessions from next month. Finance Minister Mangala Samaraweera speaking at a press briefing held at the Finance Ministry premises yesterday, said that the government will, as a part of the relief package, introduce a loan scheme titled Sancharaka-Poddo from June 10, for individuals who were making their living from providing goods and services to the informal tourism sector in the country.

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Walk of Warriors& Commences Landmark Expedition

Sri Lanka ArmyAir Mobile Brigade of the 53 Division which boasts a life span of 25 years of excellence undertaking its milestone anniversary spectacle, the 310 km - long ‘Walk of Warriors& (Ranakaminge Pagamana) after a brief inaugural ceremony commenced its expedition this morning (29) from Medawachchiya town to reach Colombo in 11 days.

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