Sri Lanka Equity Forum
Dear Reader,

Registration with the Sri Lanka Equity Forum would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.

Thank You
Sri Lanka Equity Forum

Discussion Forum for Stock Market Investors in Sri Lanka

සිංහල පරිවර්තනය

Latest topics

by Trader321 Today at 3:27 am

» Earn free Dollars CSE watching
by Teller Today at 2:15 am

» Teller New Predictions
by Teller Today at 1:44 am

» John Keells Miserable Future until 2020
by Quibit Yesterday at 9:12 pm

» Stock Market Calendar
by Quibit Yesterday at 7:59 pm

» Presidential Election 2020 - Sri Lanka
by samaritan Yesterday at 6:52 pm

by Teller Yesterday at 5:36 pm

by Teller Yesterday at 5:34 pm

by Teller Yesterday at 5:31 pm

» Online Forex Trading in Sri Lanka
by Teller Yesterday at 5:23 pm

» Positive News
by Eng Krishantha Yesterday at 2:43 pm

» A walk down memory lane .....
by mihiri84 Fri Oct 18, 2019 9:45 pm


You are not connected. Please login or register

Sri Lanka Equity Forum » Stock Market & Forum Help » Stock Market News » State Trading makes profits

State Trading makes profits

Go down  Message [Page 1 of 1]

1State Trading makes profits Empty State Trading makes profits on Tue Nov 15, 2011 9:38 am


Vice President - Equity Analytics
Vice President - Equity Analytics
The State Trading (General)Corporation (STC) which made losses in the last few years has made a profit of Rs 107 million as at October 31 this year. STC Chairman Pradeep Gunawardena told Daily News Business that this profit is after paying all past liabilities which ran into Rs 33 million.

The Corporation had been running at a loss for seven years until the current management took it over in June 2008, and they were able to turnaround the company within a short period of one year.

“We have been able to regain everything that we had lost including the brands, image and even agents. Now we are the agent for quality products such as AA paper, Yokohama tyres, Exide batteries and HP computers making over Rs 150 million worth of sales monthly compared to only Rs 20 million during the previous ten years. This is a 116 percent growth,” he said.

Referring to other achievements in the recent past he said the Upahara package introduced by the STC to government servants was able to bring down the call charges to Rs 3 and the royalty received from that was a great strength.

The Corporation was able to get an income through TVS motorcycle deals without investing any money.

It was able to increase the number of employees from 165 to 300 including professionals in order to increase productivity. With all these achievements STC is now in a position to compete with the private sector.

Asked how it was made possible Gunawardena said it was a huge challenge and even the COPE committee commended this. Implementation of creative business models,tapping all untapped areas and proper management of human resources together with the dedication of all employees helped the STC to become a profit making institute.

The employees are getting bonuses after 12 years, with several other benefits such as business loans, attendance bonus and sales incentives making them highly motivated. Asked about future plans he said still there are a lot of shortcomings. However the Corporation is planning to be the leader in the IT trade with HP Computers with a target of Rs 100 million and also undertake government procurement initiatives.

Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum