Softlogic Finance continues high growth trajectory in 1HFY15
View(s):Softlogic Finance PLC continued its strong growth momentum in the first half of the 2015 financial year (1HFY15), recording “remarkable growth across the board, including double digit improvements in many key indicators”, the company said in a media release.Within the six month period ending 30th September 2015, on a year-on-year (YoY) basis, Softlogic Finance’s Total Operating Income grew by 18 per cent to Rs. 992 million, while Profit Before Tax (PBT) rose 39 per cent to Rs. 153 million and Net Profit by 36 per cent to Rs. 125 million.
Customer deposits grew by 20 per cent YoY to Rs. 12,989 million and Loans and Receivables were up 72 per cent YoY to Rs. 11,003 million.
“Softlogic Finance takes great pride in this characteristically strong financial performance as it underscores our high growth trajectory, solid fundamentals and the prudence of our business strategy,” Softlogic Finance PLC Deputy Chairman, Harris Premaratne said in the statement. “Further, improvements have been achieved in many diverse key indicators reflecting the high-quality and sustainable nature of growth.”
He said these results are also particularly noteworthy considering that “they have been achieved despite significant increase in our commitments to reward and further develop our staff, by incentivising them to achieve strategic objectives and to retain high levels of productivity”. As a result of these HR initiatives, Personnel Costs rose by 30 per cent YoY to Rs. 296 million in 1HFY15, which contributed primarily to the increase of Operating Expenses to Rs. 580 million for the period.