Sathosa to cross 400 branch milestone

Friday, 23 June 2017 00:00 - - {{hitsCtrl.values.hits}}

As its total branch network edged to 380, Lanka Sathosa is preparing to cross the 400 branch mark next-and despite nine outlets hit by recent floods, Lanka Sathosa continued its disaster relief assistance, successfully braving the situation.

“We are preparing to launch 37 new branches island-wide,” announced Minister of Industry and Commerce Rishad Bathiudeen on Wednesday, at a Ministry review meeting.

“With the launch of last week’s three new outlets in the east, Lanka Sathosa has expanded its branch strength to 380. Sixteen of the new branches will be launched first, the rest thereafter. There are no plans to privatise Lanka Sathosa,” said Bathiudeen.

Last week he launched three new Lanka Sathosa outlets in Kokkadicholai, Pottuvil and Kaathankudi, bringing the total branch strength to 380. Lanka Sathosa is Sri Lanka’s largest State-owned supermarket system.

“Recent floods have affected nine Lanka Sathosa branches and they will be renovated immediately. Despite facing damage, Lanka Sathosa continued to serve consumers and helped the disaster victims as well. Lanka Sathosa gave out dry rations to the Government to be issued to the people. Lanka Sathosas in Ratnapura electorate alone delivered Rs. 10 million worth of dry rations to Divisional Secretariat officials to be distributed. Lanka Sathosa will expand to 500 outlets and we plan to add another 8,000 franchise shops in future, to engage SMEs.”

Lanka Sathosa’s annual sales turnover is now around Rs. 30 b. Almost 93% of its expenditure in 2016 was spent for capital development projects. It plans to open 8,000 franchise outlets with SME businesses in the coming year while expanding its present 379 branch network to 500 by December 2017.