Business
LAUGFS Super Nugegoda is all about overall customer experience, says CEO
‘Getting best deals is very important in satisfying valued shoppers’
by Sanath Nanayakkare
The full range of expectations of a customer vising a supermarket can be vast in this day and age. Identifying just how expansive they can be and the numerous ways in which a supermarket can try to exceed customer expectations is therefore very critical. Whether one likes it or not, these expectations tend to involve a comparison when implicit expectations are not being met. The Island recently had an interview with Pravin R. David, CEO of LAUGFS Supermarkets where we probed one of the leading supermarket CEO minds in the country about this particular challenge. Notably, the interview was conducted on the sidelines of an event where LAUGFS recently opened its brand-new outlet located at 225, Stanley Thilakarathne Mawatha, Nugegoda. Pravin said it marked the 38th addition to the chain, but is different from other LAUGFS outlets and other competitive retail formats as well. The following are some excerpts from the interview.
Q. Supermarkets already battle it out on prices for products that matter most to customers. How does LAUGFS Supermarkets work with its supply chain to bring its grocery prices down?
As a consumer centric business organization, LAUGFS Supermarkets touch thousands of customer lives on a daily basis, so as a company, we are very concerned about the prices we offer to our customers on daily essentials and groceries. Adapting a competitive pricing policy via effective supply chain strategies is vital for maintaining competitive prices. Most importantly it’s a challenge to maintain a competitive pricing in an environment where prices are frequently fluctuating.
Q. Sri Lanka is now at a point where the spikes in essential commodities are reversing, perhaps allowing your margins to drift higher from an all-time low. Is this a welcome development for supermarkets from a balance-sheet point of view?
Prices of essential items are fluctuating and both cost and selling prices are adjusted accordingly. So there won’t be a drastic increase in profitability, but compared to the previous period it is a stable condition as there aren’t many supply issues which is directly impacting on price and availability. But overall, certain cost elements of the business operations such as taxes, power and utility, interest cost have gone up drastically which has a direct impact on the profitability.
Q. Competition largely depends on how many supermarkets are present in any local area. Nugegoda is a place where you would face fierce competition. Why did you really want to enter this battleground?
There are a few reasons why we entered a highly competitive area like Nugegoda. This new store format is totally different to all our existing LAUGFS Super outlets and other competitive retail formats too. So we wanted to bring this new concept to an area with many residential customers in line with our target-group.
Q. What’s the specialty of your bakery products and ready meals at your Nugegoda store?
We have first launched our hot kitchen + Bakery concept of “Sugar & Spice” by Crimson Bakery at Nugegoda store. This caters to a diverse range of ready- made hot food and savories/ snacks and there are seating facilities to relax and enjoy your food while shopping with your family. We maintain high standards of quality and hygiene as it is our primary promise.
Q. How tough is your job as CEO in getting the best deals for shoppers including the quality of service?
Getting best deals is very important in satisfying our valued shoppers and to offer the best prices in daily essentials, fresh items and other grocery items. It is mandatory to maintain a better relationship with suppliers and our farmer networks are key in managing this proposition. Whereas, maintaining service levels requires continuous training and development of our front line staff, retaining them, upgrading their attitudes and soft skills are the main challenges ahead.
Business
HNB Finance bags 2 CMA Reporting Awards 2025
HNB Finance PLC has been honoured with two prestigious accolades at the CMA Excellence in Integrated Reporting Awards 2025, reaffirming the company’s commitment to transparency, good governance, and integrated business performance.
At this year’s ceremony, HNB Finance PLC was awarded Second Runner Up – joint in the category of “Best Integrated Report , Finance and Leasing Sector”, and also received a Merit Award in recognition of its continued efforts to enhance reporting quality and strengthen stakeholder communication.
The CMA Excellence in Integrated Reporting Awards, organised annually by the Institute of Certified Management Accountants (CMA) of Sri Lanka, acknowledge organisations that demonstrate superior financial reporting standards aligned with global best practices. Winners are assessed on key criteria such as financial performance and strategic management, corporate governance and compliance, innovation and digital transformation, sustainability practices, and professional excellence.
Chaminda Prabhath, Managing Director/CEO of HNB Finance PLC, commented on the recognition, “These awards reaffirm our commitment to upholding the highest standards of integrated reporting and transparent financial disclosure. At HNB Finance, we remain focused on delivering sustainable long-term value through robust governance frameworks, prudent financial management, and continuous innovation. The acknowledgement by CMA Sri Lanka reflects the disciplined efforts of our teams across the organization and motivates us to further enhance our reporting quality, strengthen ESG integration, and reinforce our stakeholder centric approach.”
Business
ComBank joins ‘Liya Shakthi’ scheme to further empower women-led enterprises
The Commercial Bank of Ceylon has reaffirmed its long-standing commitment to advancing women’s empowerment and financial inclusion, by partnering with the National Credit Guarantee Institution Limited (NCGIL) as a Participating Shareholder Institution (PSI) in the newly introduced ‘Liya Shakthi’ credit guarantee scheme, designed to support women-led enterprises across Sri Lanka.
The operational launch of the scheme was marked by the handover of the first loan registration at Commercial Bank’s Head Office recently, symbolising a key step in broadening access to finance for women entrepreneurs.
Representing Commercial Bank at the event were Mithila Shyamini, Assistant General Manager – Personal Banking, Malika De Silva, Senior Manager – Development Credit Department, and Chathura Dilshan, Executive Officer of the Department. The National Credit Guarantee Institution was represented by Jude Fernando, Chief Executive Officer, and Eranjana Chandradasa, Manager-Guarantee Administration.
‘Liya Shakthi’ is a credit guarantee product introduced by the NCGIL to facilitate greater access to financing for women-led Micro, Small, and Medium Enterprises (MSMEs) that possess viable business models and sound repayment capacity but lack adequate collateral to secure traditional bank loans. Through NCGIL’s credit guarantee mechanism, Commercial Bank will be able to extend credit to a wider segment of women entrepreneurs, furthering its mission to drive inclusive economic growth.
Business
Prima Group Sri Lanka supports national flood relief efforts with over Rs. 300 Mn in dry rations
Prima Group Sri Lanka has pledged assistance valued at over Rs. 300 million, providing essential Prima food products to support communities affected by the recent floods across the island. This relief initiative is being coordinated through the Ministry of Defence to ensure the timely and effective distribution of aid to impacted families.
As part of this commitment, Prima Group Sri Lanka donated a significant stock of Prima dry rations to the Government of Sri Lanka on 30 November. The consignment will be distributed across multiple severely impacted districts. These supplies will support families facing disruptions to daily life, ensuring they receive assistance as recovery efforts continue.
The handover took place at the Ministry, where the donation was received by the Secretary of Defence, Air Vice Marshal (Retired) Sampath Thuyacontha. Representing Prima Group Sri Lanka, Sajith Gunaratne – General Manager of Ceylon Agro Industries Limited, and Sanjeeva Perera – General Manager of Ceylon Grain Elevators PLC, officially presented the donation.
Prima Group has been standing with the people of Sri Lanka for over 40 years, and this donation reflects its broader commitment to the nation during challenging times. As relief operations continue across the island, the company remains focused on helping families rebuild their lives and supporting the ongoing recovery process in collaboration with the Government Authorities.
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