Business
Singer delivers notable Quarter3 performance with Rs.869 million PAT
Delivering an outstanding performance, the Singer Group announced a post-tax-profit of Rs. 869.38 million for the third quarter (Q3) for FY20, a Singer press release said.
The release adds: ‘On a cumulative basis, Singer reported a substantial increase in consolidated profit-after-tax for the nine-month period ending December 2020 at Rs. 1.76 billion compared to Rs. 366.43 million in FY 2019. At Company level, Singer (Sri Lanka) PLC recorded a cumulative profit of Rs.1.17 billion, compared to Rs.102.97 million the previous year.
‘This performance reflects Singer’s resilience and effective implementation of the Group’s operating strategy, focus on driving targeted sales, continued robust demand for IT products, its efficient management of product margins and cost structure and the lower finance cost.
‘Contributing to these results was Singer’s consolidated revenue growth, which for Q3 increased by 20% to Rs. 18.66 billion. Cumulative revenues for year-to-date Q3 amounted to 16% to reach Rs. 49.4 billion.
‘Timely price revisions facilitated improved profitability margins with consolidated gross profit increasing by 8% to Rs.4.91 billion during the quarter and also rising by 8% on a cumulative basis.
‘As a result of pursuing a strong sales drive, the company’s selling and administrative expenses for Q3 increased by 8% to Rs. 3.28 billion. Due to continued pressure on repayment capabilities reflecting the economic toll of the pandemic, costs on trade and other receivables increased by 51% during the quarter.
‘While operating profits declined by 1% to Rs. 1.32 billion during the quarter, the operating profit margin narrowed to 7.1% in Q3 FY2021 compared to 8.6% in the corresponding quarter of last year. However, on a cumulative basis operating profit recorded an increase of 8% to Rs.3.48 billion. To stem rising impairments, the company has strategically focused on implementing proactive collection and monitoring measures.
‘The Group continued to pursue an aggressive sales drive leveraging its extensive branch and dealer network and digital capabilities. Demand for IT products remained strong during the quarter reflecting increased digital adoption due to remote working and online education arrangements.
‘Overall profitability continues to be supported by the sustained reduction in the Group’s borrowing costs. A sharp decline of finance costs during the period under review was due to the gradual decrease in market interest rates, extension of supplier credit periods as well as continued rationalization of borrowings, thereby complementing the improvement in core profitability to drive net earnings growth.’
Business
Ceylon Chamber urges govt to convert fiscal gains into productive investment
The Ceylon Chamber of Commerce has acknowledged the government’s recent fiscal gains but is urging a strategic shift of these surpluses into productive public investment to secure long-term growth.
In its review of the National Budget 2026, the Chamber endorsed the government’s “clear trajectory” of fiscal consolidation and disciplined debt management, noting this consistency is crucial for Sri Lanka’s ongoing economic recovery.
However, with the initial post-crisis consumption boom now moderating, the Chamber stressed that the government must pivot from consolidation to investment. It identified targeted capital expenditure in infrastructure, energy, tourism, and digital services as the potential new engines needed to drive the economy forward.
Significantly, the Chamber revealed that 18 of its policy proposals were incorporated into the budget, which include:
Trade: Developing a Trade National Single Window and a new Tariff Policy to phase out para-tariffs.
Investment: Implementing a Public-Private Partnership (PPP) framework, a digital single window for approvals, and a new residence visa scheme for investors.
Digital Economy: Plans to issue the first Digital ID in 2026, roll out 5G licensing, and eliminate service fees for online government payments.
Land & Tourism: Advancing a National Land Use Plan and resuming the Bandaranaike International Airport (BIA) expansion project.
Despite these welcomed inclusions, the Chamber highlighted three critical areas requiring greater focus:
Bridging the Implementation Gap: The Chamber warned that execution with clear timelines is the ultimate test, emphasizing that promises on the Trade Single Window and PPP laws must be delivered on time.
Strengthening Tax Administration: Improving compliance and widening the tax net through better enforcement was deemed more critical than further rate increases.
Improving Public Sector Efficiency: The Chamber argued that the reform agenda is at risk without “substantial improvements” in institutional capacity and inter-agency coordination.
The Chamber also noted a missed opportunity, stating the budget lacked a “targeted investment incentive package” essential for attracting the large-scale, export-oriented investments needed to achieve the government’s 7% growth target.
Furthermore, the Chamber called for clarity on the proposed Economic Transformation Act and urged the government to fast-track legislation for State-Owned Enterprise (SOE) and PPP reforms.
Concluding its comments on the Budget, the Chamber reaffirmed its commitment to collaborate with the government, underscoring that “sustained delivery” on these reforms is the only way to convert current economic stability into durable, broad-based growth.
By Sanath Nanayakkare ✍️
Business
DIMO Healthcare partners with RAB to strengthen Radiology Education in Sri Lanka
In a landmark initiative aimed at empowering Sri Lanka’s healthcare professionals with advanced radiology knowledge, DIMO Healthcare, the healthcare arm of DIMO, recently collaborated with the non-governmental organization Radiology Across Borders (RAB) to host a series of educational sessions on RAB VITAL Ultrasound Scanning. This marks the first time such specialized RAB-led training sessions have been conducted in Sri Lanka.
The programme, which attracted over 80 local medical professionals, took place across four leading medical institutions — the Army Hospital, Hemas Hospital (Wattala), Durdans Hospital, and Lanka Hospitals. The sessions covered a range of vital topics including gynecological and obstetric basic scanning techniques, FAST scans in ICU or point-of-care environments, and deep vein thrombosis scanning.
Speaking on the initiative, Priyantha Dissanayake, Chief Operating Officer of DIMO Healthcare, said:”As a pioneer in the local radiology sphere and the approved partner of Siemens Healthineers, we believe it is our responsibility to bridge the knowledge gap between global medical advancements and local practice. By facilitating such training programmes, we aim to uplift healthcare standards across Sri Lanka and empower our medical professionals with the tools and expertise needed to ensure earlier disease detection and better patient care.”
Business
Levi & Dili: Styling Sri Lanka’s new generation of fearless women
In a fashion landscape often crowded with ‘me too’ products, a new Sri Lankan label is making a statement that is as much about identity as it is about aesthetics. Levi & Dili, the creation of Founder and CEO Ganga Wijayawardane, is emerging as a powerful platform for the modern woman, championing a philosophy where style meets substance.
With a formidable background in International Marketing, Wijayawardane is now channeling her corporate expertise into her lifelong passion for design. The result is a fashion line with an international-contemporary feel, characterised by clean silhouettes, unusual fabric combinations, and curated, hand-picked accessories. But what truly sets Levi & Dili apart is its soul.
“The Levi & Dili woman stands for all women who long to be more, do more, to move beyond traditional roles,” Wijayawardane states. The brand’s designs are intentionally bold and eye-catching, crafted to reflect the multifaceted personality of its wearer. She is envisioned as an entrepreneur, a boss lady, a creative force, a resilient mother – a real woman who is “fearless, focused, and free.” This triad is not just a tagline but the brand’s core design brief, reflected in visuals that showcase capability and agency.
This ambition is matched by a steadfast commitment to quality. The label adheres to rigorous standards through small, controlled production batches, vetting suppliers, and conducting thorough fabric and wear tests. This promise of “affordable luxury” is a key pillar, offering fewer, better pieces with durable materials and considered details that flatter multiple body types. “We spend where it matters – fit, finishing and materials – and edit out anything that adds cost without value,” she explains.
Customer experience remains deeply personal, a non-negotiable for the brand. Online, real stylists are available for consultations, ensuring a high-touch service that continues post-purchase. While currently operating through e-commerce and pop-ups across Colombo, strategic plans are underway for a dedicated design studio, a stepping stone to a future flagship store.
Looking ahead, Wijayawardane’s vision is expansive. Within five years, she sees Levi & Dili as a leading Fashion House, setting the tone for Sri Lankan fashion and moving internationally. The goal is to be a Maison renowned not just for its designs and quality finishes, but for its key message: empowering a new generation of financially independent women who live fully and contribute significantly to the economy.
Levi & Dili is more than clothing; it is a wearable testament to the ambitious, modern Sri Lankan woman.
For new customers: Shop online and at announced pop-ups. For styling help, contact the team at support@leviandili.com or 077 555 2941.
By Sanath Nanayakkare ✍️
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