This year saw a 10% growth in student enrolment and the number of full fee-paying students increased to 282 at the end of the academic year. The comprehensive loss for the year was LKR 190.2 Mn. with an operating loss of LKR 206.2 Mn. The operating loss was mainly due to increased taxes and exchange rate fluctuation. Included in the comprehensive loss are revaluation of defined benefit obligation and deferred tax of LKR 16 Mn.

The rupee appreciated during the year with an opening rate of LKR 334 at the beginning of the school year to close at LKR 306 to the US Dollar by the end of the year. The exchange loss was recorded as LKR 230.7 Mn. at the end of the year.

Overall expenditure decreased by LKR 129 Mn. (5%) and this was achieved by diligently planning resources including staffing and adhering to tight controls. These measures strengthened the schools’ cash position after the adverse cash loss last year.

Capital expenditure was allocated towards renovating the gym floor as the first choice of the Campus Redevelopment Plan. Other project work included installing a fire hydrant and hose reel system, which was essential for maintaining safety with an addressable fire call point system and improving the school’s lightning protection system.

The Board will continue to focus on the financial stability of the school, ensuring adequate resources are available for maintaining and improving the school’s infrastructure whilst providing an excellent academic experience for our pupils.