Softlogic reports strong earnings in 2Q; more bullish on second half

Monday, 17 November 2014 00:42 - - {{hitsCtrl.values.hits}}

Softlogic Holdings Plc on Friday reported strong performance in the second quarter of FY15 with healthy growth in top line and bottom line.

Consolidated revenue for the quarter increased by 20.7% to Rs. 8.7 b taking the cumulative revenue to near Rs. 17 b (up 17.7%). The Retail cluster outperformed with a 25.6% contribution to the Group’s cumulative turnover for 1H of FY15 followed by Healthcare Services with a 25.1%, Financial Services and ICT each contributing 24.4% and 22.4% respectively. Group PBT registered over a two-fold growth to Rs. 427.0 m during the quarter taking cumulative PBT to 721.8 m (Rs. 343.0 m in 1H of FY2013/14). Profit for the six-month period amounted to Rs. 579.1 m (up by a strong 91%) with the 2Q of FY2013/14 reporting Rs. 353.8 m (up 198.8%). “We expect 2H of FY2014/15 to report much stronger numbers with most of our business segments skewed towards the seasonal peak; viz, Retail, Insurance, Healthcare and Leisure,” Softlogic Holdings Plc Chairman Ashok Pathirage said in his review accompanying interim results.