Slorgen

Sri Lanka State Firms Post Higher First-Half Profits 🇱🇰🚀 📈 Fifty-one key state-owned enterprises recorded combined profits of Rs.259 billion in the first half of 2026, rising from Rs.228 billion a year earlier. 🌍 Gains came even as higher costs, supply disruptions and order cancellations linked to the Middle East conflict weighed on operations. 🏦 State banks drove much of the improvement, with Bank of Ceylon lifting profit before tax to Rs.62.6 billion and People’s Bank reaching a record Rs. 32.6 billion. ⛽ Ceylon Petroleum Corporation saw net profit climb 72% to Rs.29.2 billion, supported by Rs.41 billion in Treasury subsidies that offset sharply higher import costs. ✈️ SriLankan Airlines reported a much deeper loss before tax of Rs.35.6 billion in its first quarter, compared with Rs.12 billion previously, as fuel expenses nearly doubled. ⚡ Power sector reforms transferred Ceylon Electricity Board functions to successor companies, with tariff rises and a Rs.15 billion subsidy helping boost electricity sales revenue by 20%. 🚢 Sri Lanka Ports Authority raised profit 19% to Rs.29.1 billion, while Airport and Aviation Services more than doubled its profit before tax to Rs. 24.9 billion. 🔄 A dedicated restructuring unit is liquidating 33 selected state enterprises as part of ongoing reforms.