Thu, 30 Jun 2022 Today's Paper

Softlogic Finance continues high growth trajectory in 1HFY15

27 November 2015 04:50 am - 0     - {{hitsCtrl.values.hits}}

A A A

Softlogic Finance PLC continued its strong growth momentum in the first half of the 2015 financial year (1HFY15), recording remarkable growth across the board, including double digit improvements in many key indicators.
Within the six-month period ending September 30, 2015, on a year-on-year (YoY) basis, Softlogic Finance’s total operating income grew by 18 percent to Rs.992 million, while profit before tax (PBT) surged 39 percent to Rs.153 million and net profit by 36 percent to Rs.125 million.  
Customer deposits grew by 20 percent YoY to Rs.12,989 million and loans and receivables was up 72 percent YoY to Rs.11,003 million. 
Many other key indicators too witnessed significant improvements. The net operating income for the period was Rs.780 million – representing an expansion of 21 percent YoY. Total assets grew by 6 percent to Rs.20,475 million. Reflecting greater efficiency, the company’s cost-to-income ratio too declined YoY from 59 percent to 58 percent. 
Impairments for loans and receivables for the first half of 2015 stood at Rs.212 million while net assets per share as at September 30, 2015 was Rs.39. 
“Softlogic Finance takes great pride in this characteristically strong financial performance as it underscores our high growth trajectory, solid fundamentals and the prudence of our business strategy,” Softlogic Finance PLC Deputy Chairman Harris Premaratne said.
“Further, improvements have been achieved in many diverse key indicators reflecting the high-quality and sustainable nature of growth.
These results are also particularly noteworthy considering that they have been achieved despite significant increase in our commitments to reward and further develop our staff, by incentivizing them to achieve strategic objectives and to retain high levels of productivity,” he added. 
As a result of these HR initiatives, personnel costs rose by 30 percent YoY to Rs.296 million in 1HFY15, which contributed primarily to the increase of operating expenses to Rs.580 million for the period. 
Order Gifts to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Vegetables, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

Sell your vehicle & house fast with hitad.lk only cost is Rs.400, Advertise in Hitad.lk for free to sell your mobile phone. Want to sell your Pet, Advertise for Free in hitad.lk Search for Houses in Sri Lanka and find the best place through Hitad.lk find your best tuition place. Find the best partner for you, visit hitad.lk Find anything at any time hitad.lk.

  Comments - 0

Order Gifts to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Vegetables, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

 

Sell your vehicle & house fast with hitad.lk only cost is Rs.400, Advertise in Hitad.lk for free to sell your mobile phone. Want to sell your Pet, Advertise for Free in hitad.lk Search for Houses in Sri Lanka and find the best place through Hitad.lk find your best tuition place. Find the best partner for you, visit hitad.lk Find anything at any time hitad.lk.


Add comment

Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.

Reply To:

Name - Reply Comment




Order Gifts to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Vegetables, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

 

Sell your vehicle & house fast with hitad.lk only cost is Rs.400, Advertise in Hitad.lk for free to sell your mobile phone. Want to sell your Pet, Advertise for Free in hitad.lk Search for Houses in Sri Lanka and find the best place through Hitad.lk find your best tuition place. Find the best partner for you, visit hitad.lk Find anything at any time hitad.lk.


Free-fall of the nation Where is the alternative to ruinous Gotabaya regime?

There is a great deal of ruin in a nation, Adam Smith once said - meaning tha

Gotabaya, Ranil and the Frog and Scorpion Fable

Let me rewind back to my boyhood when I first read the fable about the scorpi

Four-day work week: Can Govt. reap what it sows?

This week, Sri Lanka joined a growing list of countries experimenting with th

Sri Lanka’s Al Capone Syndrome threatens human security

Be it Al Capone, Pablo Escobar, El Chapo or any other crime boss, violence in