Business and Economics
Saaraketha Lifestyle, the hailing of a new world order post COVID – 19

When Sri Lanka entered a sudden lockdown, in response to the global COVID – 19 pandemic, Saaraketha, Sri Lanka’s largest retailer and exporter of certified fresh organic produce and ethically sourced sustainables, was one of the very first to respond to the overnight national need for delivered food. Unlike other retailers, in the food industry, Saaraketha had years of experience with home delivery, supporting a loyal base of urban consumers with a bi-weekly service prior to the pandemic.

The Island-wide curfew brought with it overnight unprecedented demand, where in the first 48 hours they witnessed a 100x surge per day on their online home delivery segment.  They encountered fresh, un-foreseeable challenges as the Saaraketha team stepped up to fulfils their calling as a socially responsible company. With the leadership of their Managing Director; Prasanna Hettiarachchi, Saaraketha found not only novel ways to streamline their processes, delivery and service, but also opened up their platform and customer base to other small ethical businesses.

Huawei enters laptop segment launching Huawei MateBook D 15 in Sri Lanka

Huawei, announced the introduction of Huawei MateBook D 15, the latest addition to Huawei’s product portfolio in Sri Lanka. The Huawei MateBook D 15 laptop has a stylish and a minimalist design whilst focusing on a solid performance. Huawei has been steadily making a name in the laptop space and this MateBook D 15 with its innovative features presents more things to fall in love with it, which also depicts Huawei’s potential for developing laptops which offer best value for money.

At a glance, this midrange laptop has a stunning metallic finish with thin bezels and an 87% screen to body ratio. It weighs only 1.62kg including the HDD and its thickness is 16.95mm making it a highly portable and lite device.

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SLT Group 1Q 2020 Operating Profits grow by 28% to Rs.3.2 bn

Sri Lanka Telecom PLC Group released its financial results for the three months ending on 31st March 2020.

The Total revenue for the quarter recorded Rs.22.1 Bn, which is a 3.8% growth compared to the Rs. 21.3 Bn during the same period in 2019.

Stringent measures were taken to manage operational cost and investments in capital expenditure, which resulted in Cost savings of 5% for the quarter amounting to Rs.704 Mn. The quarter under reference registered an increase in depreciation cost as well as provisioning requirement of Rs.536 Mn as per the new SLFRS regulations for overdue debtors. Despite the above facts the Group Operating profit for the quarter recorded Rs.3.2 Bn, which is an improvement of 28.6% compared to the previous year.

Due to the depreciation of the Sri Lanka Rupee arising from the Pandemic situation, the total Forex loss for the Group was recorded as Rs.683 Mn, which is a substantial increase against the Rs.172 Mn gain for the same period in 2019.

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