Softlogic Capital records Rs 782m PAT
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 May 25.
Turnover for the Sector after consolidation was Rs 9.95 billion, an
increase of 20% compared with the previous year, while 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 213million compared
to a loss of Rs 108 million in the previous period.
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 March
31, 2015 and recorded an increase of 12% for the year compared with Rs
29.6 billion as at March 31, 2014.