COLOMBO: Softlogic Holdings Group revenue has increased by 62.1% to Rs 13 billion as opposed to Rs. 8 billion reported in the comparative quarter of 2014 according to the financial statements of for the three months ending June 30, 2015.
Retail sector pulled in the reins to lead in Group turnover with a contribution of 33.4% post-ODEL consolidation. ICT sector, with Samsung’s handset applications added to the sector’s product range, emerged second in revenue contribution with 29.0% followed by Healthcare Services (17.1%), Financial Services (16.6%), Automobiles (2.2%) and Leisure (1.0%).
Consolidated Gross Profit increased a strong 47.5% to reach Rs. 4.3 billion during the first three months of the financial year (Rs. 2.9 billion reported last year).
Increasing activity levels led the operational expenses to increase by 44.1% to Rs. 3.1 billion during the quarter. However, a decline in operation cost margins were noted from 26.6% in 1QFY15 to 23.7% in 1QFY16 following synergy benefits and stringent cost discipline measures. Distribution costs increased to Rs. 654.8 million (up 55.9%) while administration costs increased 41.2% to Rs. 2.4 billion for the period under review.
Finance income registered a decline of 28.8% to Rs. 301.1 million during the quarter.
