S.L.C. operating at a loss, report shows
The Samoa Land Corporation’s (S.L.C.) Key Performance Indicator (K.P.I.) in the past four years shows they have been operating at a loss.
The K.P.I. is a measurable value that demonstrates how effectively a company is achieving key business objectives.
For the S.L.C. revenue collections have dropped significantly since 2013.
According to the K.P.I. report obtained by the Samoa Observer, in 2013 the Corporation collected $11.29 million.
In 2017, it has dropped to $8.99 million, accumulating a decrease of $2.99 million.
The figure was $9.36 million in 2015.
According to the S.L.C’s expenditures, for 2013 the amount accumulated to $10.60 million; the next year it dropped to $9 million and there was an increase of $9.99 million in 2015.
For the year 2016, it increased to $10.8 million, says the K.P.I. report.
The K.P.I. report indicates that the Net Profit after Taxes show the last time there was a profit was in 2013 which was $510,000.
For 2014 there was no profit.
The continued losses extended to 2015 with -$0.47 and the loss increased to -$17.40million.
Efforts to get comments from the S.L.C. Chief Executive Officer, Ulugia Petelo who was appointed last year have been unsuccessful as of press time.