Vision Investments Limited made a profit after tax of $15.7m on revenue of $181.6m.

Vision Investments Limited made a profit after tax of $15.7m on revenue of $181.6m.

This is for the financial year ending 31st March.

Group Chair, Dilip Khatri says these results cannot be directly compared with the previous year as 2019 had a significant one-off benefit of additional revenue.

He says the operating year also experienced a general decline in consumer demand due to COVID-19.

“We had to consider this post balance sheet development as required under the accounting standard and consequently additional provisions were made in the accounts for bad debts, relating our hire purchase – customers impacted by the economic crisis.”

Despite the challenges, the Chair says he has acknowledged the results achieved so far by the Group.

He adds they responded quickly and have implemented measures to maintain some level of operating profitability to preserve cash.