Diversities of business could withstand impact of COVID-19 | Daily News


Diversities of business could withstand impact of COVID-19

Softlogic Holdings said the diversities of its business will enable them to withstand the impact of COVID-19. The company however said it requires more time to assess and quantify the impact of COVID-19 on the group’s operations.

“We currently see a tapering of the intensity of the pandemic in Sri Lanka, which gives us much hope and confidence,” Softlogic Holdings said in a Stock exchange notification. It also said however globally the trajectory of the pandemic is still upwards. The Softlogic group has implemented short term strategies aimed at maintaining liquidity and keeping its working capital outlays at optimum levels.

“We continue to strictly monitor our businesses on a weekly basis to ensure their smooth operations.”

It also said that turnover for the year ended March 31, 2020 for the company is Rs. 749 million (Unaudited), while the turnover for the 4th quarter ended March 31, 2020 is Rs. 174 million (unaudited).

Softlogic Holdings said further that consolidated Group turnover numbers for the year and 4th quarter ended March 31, 2020 are not available at present due to the long curfews imposed countrywide and the resultant closures of its offices. “Our Group being large and diversified further compounds the delay,” the stock market notification added. (IH)


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