29. Softlogic

VIEWS (1216)

Softlogic ranks at number 29 in the Business Today TOP 30. The core sectors of the Group include healthcare, financial services, retail, leisure and properties, automobiles and ICT. Under the dynamic leadership of Ashok Pathirage, Chairman/Managing Director, the Group has continued to make strategic acquisitions in sectors that have enabled its stable growth.

Softlogic is well positioned within the high growth areas of the services and trade sector of the country, which have generally recorded high growth. The Group's revenue grew by 41.7 per cent to reach 56.1 billion rupees, which was supported by the strong growth in many of the Group's key business segments. Operating profit recorded was 6.3 billion rupees, which was a 47.7 per cent increase. This was primarily supported by healthcare - 33.8 per cent; retail - 27 per cent and financial services - 24.9 per cent.

Through the strategic acquisitions of Asiri Hospitals and Odel, the Group enabled growth in these sectors and was able to create value through calculated expansion. In the leisure sector, Movenpick City Hotel, which is a 219 key property is scheduled to open in 2017 and is expected to drive growth in the sector.

Profit after tax reflected a better diversification with the improved performance of financial services that contributed 1.2 billion rupees and the retail segment, which contributed 430.8 million rupees. The healthcare segment contributed 1.4 billion rupees. Leisure and automobiles sectors are yet to reach high performance levels.

Softlogic continues to position itself within the services sector considering the new economic direction of the Government. With the country looking at high-end consumers, greater innovation and new technology and increasing tourist numbers, the Group will have many opportunities to make strategic decisions that will further enhance its unique position.