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.