Diversified Sri Lankan conglomerate
During this period, the group posted consolidated revenue of
The group's top-line performance saw a decline in growth by 8 per cent YOY, mainly due to the sale of the tea plantation business represented by
Healthcare and consumer business together contributed 78 per cent to Sunshine's top-line, while agribusiness sectors of the group contributed 18 per cent of the total revenue.
During the month of
PAT for the period in review rose to
Commenting about the group's performance, Sunshine Holdings Group Managing Director, Vish Govindsamy stated, 'The financial year under review experienced two unexpected events-the Easter bombings and the country-wide lockdown due to COVID-19 pandemic-where the combined effect caused tremendous impact on every sector in the economy. The novel coronavirus especially, which is the cause of the most affected economic headwind in history, was a true test for organisations like us to showcase resilience, responsiveness and readiness in such a crisis. However, we are pleased to note that as a group, we displayed a resilient and entrepreneurial spirit in the face of such difficulties, continuing our valuable contribution to the economy by ensuring undisrupted services to all our stakeholders by maintaining highest standards of safety and convenience.'
As the largest contributor to group revenue,
'In healthcare, we expect strong growth in the first quarter, especially in medical devices and pharma sub-divisions. We are closely monitoring the changes in the exchange rate, which is sensitive to our margins. The sector will continue to focus on improving the product range and service quality. During the lockdown, Healthguard's operations were disrupted, but we were able to identify several opportunities in improving its digital capabilities. During the first quarter, we will look to improve Healthguard's online business further,' added
He said the consumer business would continue to invest behind its brands to scale the domestic businesses. 'The consumer business will have a challenging first quarter due to the COVID-19 pandemic, especially due to disruption in logistics. The company would continue to invest behind its brands to scale the domestic businesses. We also expect a slower recovery in the gift boutique business, which is predominantly dependent on tourism.'
© Pakistan Press International, source