Sri Lanka’s leading fashion and lifestyle retail brand and an industry trailblazer, Odel said the company is in the process of building a sustainable business model that has a strong response to the prevailing economic conditions and also addressing the future challenges thereof despite the volatile market realities.
Moreover, the Company in a Stock Exchange notification said the impact of the pandemic on Sri Lanka’s economy and the global cannot be predicted at this time and the recovery period of key industries most likely to take at least several months.
“Hence, the overall future impact on the operations of the Company is not immediately predictable.
There are also multiple new risks that have emerged including increased exchange rate volatility, foreign currency availability and import restrictions.”
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