(UDHAYAM, COLOMBO) – As its total branch network edged to 380, Lanka Sathosa is preparing to cross the 400 branch mark next-and despite 9 outlets hit by recent floods, Lanka Sathosa continued its disaster relief assistance successfully braving the situation.
“We are preparing to launch 37 new branches island-wide” announced the Minister of Industry and Commerce Rishad Bathiudeen on Wednesday (21). Minister Bathiudeen, joined by his top officials was addressing his Ministry’s progress review meeting at Ministry’s Narahenpita premises.
“With the launch of last week’s three new outlets in East, Lanka Sathosa has expanded its branch strength to 380. We are also preparing to launch 37 new branches island-wide next. Sixteen of these will be launched first, the rest thereafter. There are no plans to privatise Lanka Sathosa” said Minister Bathiudeen.
Last week Minister Bathiudeen launched 3 new Lanka Sathosa outlets in just a weekend -Kokkadicholai, Pottuvil and Kaathankudi, bringing the total branch strength to 380. Lanka Sathosa is Sri Lanka’s largest State owned supermarket system.
“Recent floods have affected 9 Lanka Sathosa branches and they will be renovated immediately. Despite facing damage, Lanka Sathosa continued to serve consumers and helped the disaster victims as well. Lanka Sathosa gave out dry rations to the Government to be issued to the people. Lanka Sathosa’s in Ratnapura Electorate alone delivered Rs 10 Million dry rations to Divisional Secretariat officials to be distributed. Lanka Sathosa will expand to 500 outlets and we plan to add another 8000 franchise shops in future, to engage SMEs.”
Lanka Sathosa’s annual sales turnover is now around Rs 30 billion. Almost 93% of its expenditure in 2016 was spent for capital development projects. It plans to open 8000 franchise outlets with Small and Medium-Sized Enterprise (SME) businesses in the coming year while expanding its present 379 branch network to 500 by December 2017.
