With the outbreak of the coronavirus, Chinese tourists have declined sharply and this would affect the business of the
In his statement on the group's 9th month results ending
'This involves courageous leadership which foresees that with the new political equation the economy would be galvanised with tourism occupying a major thrust in the government's agenda for ensuring that the country becomes a regional shopping destination. Notwithstanding this, the unforeseen coronavirus would no doubt impact global tourism. The psychological pandemic, nonetheless, would have to be controlled with a sense of urgency.
Consolidated group turnover significantly increased by 11 per cent to
Group's efforts to restore consumer and business confidence during the period was augmented by expanding the international branded retail portfolio and upmarket stores at One
In the same way, the healthcare sector, with the addition of Asiri's 190-bed ultra-modern hospital in Kandy, will have an important role to play in the country's healthcare serving the healthcare needs of the
'Despite the new investments, we are still recovering from the shock of the April incidents and will have to bear the consequence of the uncertainty of the coronavirus and its implications together with the General Election in the offing,' he said.
Nonetheless, he pointed out, the new Government's pro-business decision to reduce the tax burden for corporates while also reducing interest rates will give a significant filip to future earnings.
Group turnover was dominated by the rapidly expanding Retail sector (51 per cent contribution to Group topline), Financial Services (20 per cent) and
Gross profit grew 11 per cent to
© Pakistan Press International, source