Softlogic Holdings share price gains by 24% on return to trading

Saturday, 20 April 2024 00:14 - - {{hitsCtrl.values.hits}}

The share price of Softlogic Holdings PLC (SHL) gained yesterday when it returned to trading at the Colombo stock market after a four month hiatus due to suspension.

SHL saw 6.4 million of its shares trade for Rs. 68 million via 1,281 trades. It ended at Rs. 11.20, up by 24.4% or Rs. 2.20.

Trading of SHL shares was suspended on 8 December 2023 for non-submission of Annual Report for the year ended 31 March 2023. The Annual Report for FY23 was released on Wednesday (17 April) whilst Interim Financial Statement for the period ended 31 December 2023 (first nine months of FY24) was released on 15 March.

For FY23, SHL reported a Group after tax loss of Rs. 23.6 billion. In 3Q of FY24, Group PAT improved 76.7% to trim the losses to Rs. 1.7 billion while taking cumulative first nine months losses to Rs. 10.5 billion (post-adjustments) compared with Rs. 13.9 billion loss in the comparative period.

Retained losses as at 31 December 2023 amounted to Rs. 64.5 billion, as against Rs. 41.7 billion a year ago and Rs. 51.5 billion as at end FY23.

Discover Kapruka, the leading online shopping platform in Sri Lanka, where you can conveniently send Gifts and Flowers to your loved ones for any event including Valentine ’s Day. Explore a wide range of popular Shopping Categories on Kapruka, including Toys, Groceries, Electronics, Birthday Cakes, Fruits, Chocolates, Flower Bouquets, Clothing, Watches, Lingerie, Gift Sets and Jewellery. Also if you’re interested in selling with Kapruka, Partner Central by Kapruka is the best solution to start with. Moreover, through Kapruka Global Shop, you can also enjoy the convenience of purchasing products from renowned platforms like Amazon and eBay and have them delivered to Sri Lanka.