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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Softlogic Capital records 782 M profit

Softlogic Capital records 782 M profit

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1Softlogic Capital records 782 M profit Empty Softlogic Capital records 782 M profit Mon Jun 01, 2015 9:33 am

Melissa Pereira


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
Softlogic Capital PLC which is the financial services holding company of the Softlogic Group, reported Profit after Tax for the Sector of Rs 782 Million for the financial year ended March 2015. The result was more than double previous year's PAT of Rs 309 Million. The numbers are unaudited and were released to the Colombo Stock Exchange on 25th May. Turnover for the sector after consolidation was Rs 9.95 Billion, an increase of 20% compared with the previous year, whilst pre-consolidation turnover was Rs 10.4 billion.

The Financial Services Sector of the Group offers a comprehensive range of products and services to all of their client segments comprising; Retail, SME, Corporate, Institutional and High Networth clients, that covers Life and General Insurance, Leasing and Finance, Equity Broking and Asset Management. Softlogic Capital PLC has as its subsidiaries; Asian Alliance Insurance PLC, Asian Alliance General Insurance Ltd, Softlogic Finance PLC and Softlogic Stockbrokers Pvt Ltd.
The Sector performance for the year were driven by contributions from Asian Alliance Insurance that posted PAT of Rs 705 Million, Softlogic Finance PLC PAT of Rs 216 Million, Softlogic Stockbrokers PAT of Rs 63 Million. Softlogic Capital PLC returned a PAT of Rs 213 Million compared to a loss of Rs 108 Million in the previous period.

The Softlogic Group that entered the financial services arena in the latter part of 2010, within a short period of just 4 years, has quickly moved to streamline and significantly enhance its acquisitions whilst securing the necessary resources for the aggressive business plans that have been laid out. The Sector has focused on developing the teams in each business, upgrading talent, enabling breakthrough product development and enhancing the brand awareness of the respective companies to fast track business acquisition.

This has delivered impressive results for the year with Asian Alliance performance at PAT level improving by 22%, Softlogic Finance by 31% and Softlogic Stockbrokers improving their performance five-fold. Total Assets of the sector were Rs 32.9 billion as at 31 March 2015 and recorded an increase of 12% for the year compared with Rs 29.6 billion as at 31 March 2014.

Softlogic Capital PLC is part of the Softlogic Group that is one of Sri Lanka's most diversified and fastest-growing conglomerates, with interests in Healthcare, Retail, ICT, Leisure, Automobiles and Financial Services. The Board of the Company comprises; Ashok Pathirage Chairman, Iftikar Ahamed Managing Director, Lucille Wijewardena, Ajitha Pasqual, Harris Premaratne, Erandi Wickremarchchi.


Courtesy: Ceylon Financial Times 01 June 2015

2Softlogic Capital records 782 M profit Empty Re: Softlogic Capital records 782 M profit Mon Jun 01, 2015 12:31 pm

wisdom79

wisdom79
Vice President - Equity Analytics
Vice President - Equity Analytics
Good for SHL, SCAP .......... Very Happy

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