Home / Front Page/ Softlogic Holdings’ profits soar

Softlogic Holdings’ profits soar

Comments / {{hitsCtrl.values.hits}} Views / Friday, 16 February 2018 00:00


Softlogic Holdings Plc yesterday reported impressive results for the third quarter with healthy growth all round.

Profit before tax rose 60.6% to Rs. 2.4 billion for the nine months while reporting a four-fold increase to Rs. 1.4 billion in the third quarter from a year earlier. 

Profit after taxation during the nine-month period registered a strong 68% increase to Rs. 1.9 billion while quarterly bottom line reported more than a twofold increase to Rs. 1.2 billion. Cumulative Group EBITDA improved 58.9% to Rs. 9.2 billion while quarterly EBITDA increased 97.4% to Rs. 3.7 billion.

Group revenue grew 10.3% to Rs. 49.4 billion during the first nine months of this financial year while the quarterly revenue grew 17.7% to Rs. 18.3 billion.

Cumulative Group top line witnessed a contribution of 31.8% from the Retail sector, followed by ICT (26.3%), Healthcare Services (18.2%), Financial Services (16.3%) and Leisure (3.5%).

Gross Profit increased 22.5% to Rs. 17.6 billion during the 1-3QFY18, reflecting strong GP margin improvement from 32.1% in 1-3QFY17 to 35.7% in 1-3QFY18. The quarter also registered GP margin improvements from 33.3% in 3QFY17 to 35.3% in 3QFY18, pushing the quarterly gross profit to Rs. 6.5 billion (up 24.9%). 

The group’s cost conscious measures, coupled with group synergies, helped to overcome cost hurdles in two core sectors – Healthcare and Retail – where a number of capital intensive projects are progressing.

Cumulative operating profit improved 67.2% to Rs. 7.2 billion while the quarter registered a 124.3% increase to Rs. 3.1 billion.

“With a private placement, rights issue and internal restructuring in the offing, we propose to raise over Rs.7 billion for the purpose of restructuring the balance sheet and improving key capital ratios. The exercise would no doubt reduce finance cost and significantly impact our credit rating going forward,” Softlogic Holdings Plc Chairman Ashok Pathirage said.

See full story here.

Share This Article

Facebook Twitter


1. All comments will be moderated by the Daily FT Web Editor.

2. Comments that are abusive, obscene, incendiary, defamatory or irrelevant will not be published.

3. We may remove hyperlinks within comments.

4. Kindly use a genuine email ID and provide your name.

5. Spamming the comments section under different user names may result in being blacklisted.


Today's Columnists

Difference between a woman and a man (yin and yang) and finding solutions to violence in society

Thursday, 18 July 2019

This is not at all a philosophical discourse on gender differences, or the complementary roles of yin and yang (women and men) in social or biological formation. This is also not to speak about who is superior among the two. This is just an observati

I wish Sajith Premadasa had taken up a challenging ministry to showcase his prowess

Thursday, 18 July 2019

Expectations, father and son Sajith Premadasa has put his hands up for leadership in the party and for nomination by the United National Party in the forthcoming presidential elections. I wish Sajith had tested himself, and had given the public a cha

Foreign Affairs and Defence to be one portfolio?

Thursday, 18 July 2019

Unless we are all suffering from dementia, the last experience with a foreign military on our soil should be very clear in our heads. The Indian Peace Keeping Force landed in Sri Lanka to supposedly bring peace to the war-torn country when the LTTE t

Federer lessons for Sri Lanka tourism

Thursday, 18 July 2019

The Wimbledon Men’s Final in 2008 was termed as the best match the world has seen between the two arch rivals Federer and Nadal. But, what we saw last Sunday between the two of them after 11 years sure shocked the world. Many just asked the questio

Columnists More