Sri Lanka’s largest brewery flags profit warning following bomb attacks
Sri Lanka’s largest brewer, Lion Brewery (Ceylon) PLC, has signalled a slowdown in business in the immediate future due to the Easter Sunday bombings that targeted churches and hotels, killing over 250 people.
The bombings have crippled Sri Lanka’s tourism industry that accounts for 5 percent of the country’s GDP.
Booming tourism has been a major driver of higher beer sales in the country.
“Unfortunately, the economy has taken a few steps back because of these events and we are likely to see a significant drop in tourism in the months ahead.
With the onset of the Fourth Industrial Revolution and with businesses increasingly embracing technology to become more efficient and sustainable, the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) has organised a ‘Techno Fair’ to introduce the latest digital products and services available for businesses and finance partners.
CA Sri Lanka Techno Fair, which will be held on May 29, 2019, at the institute, is a first of its kind, digital accounting expo to be organised in the country. The fair will be an important platform, which will showcase a host of local and international digital products and services to help businesses and finance partners including accountants gain access and insights to new paths of digitally available technology.
A distinguished clientele including chartered accountants, corporate leaders such as chairmen, partners, managing directors, vice presidents, CEOS and CFOS will attend the fair, which will feature leading IT companies showcasing a range of products in relation to artificial intelligence, block chain, cloud computing, data analysis and many other digital accounting services. CA Sri Lanka President Jagath Perera said that the Techno Fair was organised to help businesses in Sri Lanka understand and obtain a first-hand experience on the emerging digital technologies that are available in the market and how businesses can utilise these digital technologies for their long-term sustenance.
“The Techno Fair is an event fuelled by digitisation and we hope this fair will also fuel businesses to harness the transformative power that accounting technology solutions play in today’s constantly evolving landscape,” he said.
Perera noted that the accounting and finance profession has embraced technology and digitisation to remain a profession that is versatile and relevant.
“Therefore, this Techno Fair is an important event for chartered accountants to attend as it will not just connect buyers and sellers but will also educate participants through hands-on experience on available technologies and how they can utilise these for their benefit,” he added. The exhibition will also offer outstanding educational opportunities, interactive demo theatres and provide time to engage with solution providers who are shaping the future of accounting technology.