People’s Leasing & Finance PLC

Annual Report 2019/20

About this report

This Report is available in different mediums

This is our seventh Integrated Annual Report. The Report presents a balanced, comprehensive overview of our activities and our performance in 2019/20 meeting the diverse needs of our stakeholders.

This Report contains information about our impact and value creation, and provides our stakeholders insight into the execution of our strategy in the year under review. It also elaborates our business model and includes a discussion on our strategy, performance, governance, and prospects.

Reporting period

This Annual Report covers material information relating to the Company’s performance for the financial year beginning 1 April 2019 to 31 March 2020. (Our most recent report is for the year ended 31 March 2019).

Report boundary

Largely covers business operations of People’s Leasing & Finance PLC (“Company” or “People’s Leasing”) in Sri Lanka unless otherwise stated. Financial reports cover People’s Leasing and its six subsidiaries (“Group”).

Restatements and changes

No restatements were done of information provided in previous reports and no significant changes from previous reporting periods were reported in the scope and aspect boundaries. However, presentation and classification of the Financial Statements of the previous year are amended where relevant for better presentation and to be comparable with the current year.


In producing this Report we drew on concepts, principles, and guidance from:

  • The International Integrated Reporting Council (IIRC) <IR> Framework
  • The Institute of Chartered Accountants of Sri Lanka
  • Securities and Exchange Commission of Sri Lanka
  • The Central Bank of Sri Lanka
  • The Colombo Stock Exchange
  • The United Nations Sustainable Development Goals (SDGs)
  • Companies Act No. 07 of 2007

External assurance

The Financial Statements together with the related Notes are audited by the Auditor General and his assurance report is set out on pages 145 to 147. The Auditor General has issued the External Assurance for the Company’s compliance with Corporate Governance Directions. Directors’ statement on internal controls over financial reporting has been reviewed by the Auditor General, and his opinion on the same is given on page 142.


Any questions and queries on this Integrated Annual Report 2019/20 and the information presented therein are to be directed to:

Chief Manager – Finance

People’s Leasing & Finance PLC

No. 1161, Maradana Road,

Colombo 8, Sri Lanka.

Postal code: 00800

Phone: +94 11 263 1631

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Forward-looking statements

This Report comprises forward-looking statements on our business operations and future strategy. These include all statements other than statements of historical fact, including those regarding the financial position, business strategy, management plans, and objectives for future operations.

Though our statements are reasonable assumptions and expectations based on current data, they are not intended to be a guarantee of future results, especially under the present situation with the outbreak of the COVID-19 Pandemic and its ensuing uncertainty over the global socio-economic environment.

The readers are advised to consider this information with due caution and not to place undue reliance on the projected data in making their decisions. We neither intend to nor assume any obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.