Feb 13, 2017

Record revenue for latest Lanka Sathosa outlet on Day 1

The first day’s turnover of the latest Lanka Sathosa outlet exceeds Rs 600,000-and Sri Lanka’s largest state owned retail chain is now aiming at 500 outlets, as per its expansion plan.

“Lanka Sathosa now employs more than 3500” said Minister Rishard Bathiudeen in Muthur on Sunday 12 . Minister Bathiudeen was addressing the opening event of 325th Lanka Sathosa outlet in Muthur.

“Lanka Sathosa under the Ministry is the state owned large scale retail business in Sri Lanka. it has 3500 employees under it with an annual turnover of Rs. 30 billion” said Minister Bathiudeen and added: “The new management of Lanka Sathosa has developed strategies for expansion. Among important projects planned are 125 CCTV Projects, 195 ERP projects, setting up of 5 laboratories, and Installation of Human Resource Information System.”

On its first day in sales , Mutur’s Lanka Sathosa outlet recorded a turnover of Rs 611,000, catering to almost 1000 consumers who patronised it.

Market studies reveal Lanka Sathosa is mostly used by households whose income is Rs 30,000 and below-60% of Sri Lanka’s population.