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JKH records strong growth in EBITDA to Rs.13.74 billion in Q3 2023/24

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Summarised below are the key operational and financial highlights of our performance during the quarter under review:

During the quarter under review, the Group reported a strong performance with all industry groups recording a growth in profits.

Group earnings before interest expense, tax, depreciation and amortisation (EBITDA) at Rs.13.74 billion in the third quarter of the financial year 2023/24 is a 32% increase against the Group EBITDA of Rs.10.41 billion recorded in the previous financial year, particularly in the Consumer Foods and Insurance businesses.

Group profit before tax (PBT) at Rs.5.49 billion in the quarter under review is an increase of 88% against the PBT of Rs.2.91 billion recorded in the third quarter of 2022/23. Group PBT recorded an increase due to the increase in EBITDA together with the gradual easing of interest rates and normalised working capital requirements, particularly in the Consumer Foods and Supermarket businesses.

Krishan Balendra

The groundwork on the West Container Terminal (WCT-1) at the Port of Colombo is progressing well, with all construction work relating to the first phase of the project (800 meters of quay length) being awarded, including the commissioning of the first batch of operating equipment. The U.S. International Development Finance Corporation (DFC) announced, in November 2023, that it has committed to finance the development of the WCT-1 project through a long-term loan facility of USD 553 million.

Further to the entering of the Memorandum of Understanding (MOU) with the selected international gaming operator, a significant amount of advanced design work, engineering and other construction and planning related aspects have been completed. The significant groundwork completed by both parties will enable, and pave the way, for a timely and rapid completion of the fit-out of the gaming space, once commenced. The parties are now working on the final stages of establishing the corporate and administrative framework which will enable commencement of fit-out at the earliest.



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A fresh chapter for the George Keyt Foundation: A renewed commitment to the Sri Lankan art ecosystem

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The George Keyt Foundation (GKF), dedicated to preserving the legacy of modernist painter George Keyt and fostering local art, has announced strategic appointments to its leadership team, bringing together a mix of global academic expertise, corporate leadership, and artistic passion. These enhancements aim to inject fresh expertise and academic depth into the Foundation’s long-term vision.

Establishment of the New Advisory Committee

To broaden its operational reach and deepen its engagement with the global art market, the George Keyt Foundation has established an Advisory Committee. The newly appointed committee members include:

• Dr Sujatha Meegama is a Senior Lecturer in Buddhist Art History at the Courtauld. She is an acclaimed art historian, author and academic, bringing specialised knowledge in South Asian art history to guide the foundation’s curatorial and educational directives.

• Dr Shamil Wanigaratne: A clinical psychologist, author, and avid art historian, Shamil will lend his unique perspective to help the foundation design meaningful public outreach and cultural preservation strategies.

• Abbas Esufally: A veteran corporate leader and patron of the arts, Abbas is transitioning from his role as a GKF Trustee to this advisory position, where he will continue to offer his sharp business acumen and extensive network.

New Trustee Appointment

Leesha Captain has been appointed to the Board of Trustees. Inspired by Sri Lankan artists, Leesha is a recognised supporter of the local art scene. Leesha’s hands-on perspective will strengthen the foundation’s core team as they develop and design new art programs.

A Vision for the Future

“These new appointments mark an exciting chapter for us as we build on our decades-long history of promoting Sri Lankan artists,” says Malaka Talwatte, Chairman of the Foundation. “The combination of Leesha on the board, alongside the diverse expertise of our new Advisory Committee, will significantly amplify our efforts in curating high-profile exhibitions and expanding local and international partnerships”.

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Sun Siyam Pasikudah celebrates World Tourism Day with culture, cuisine and community

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Sun Siyam Pasikudah, part of the Privé Collection under Maldivian-owned Sun Siyam Resorts, will mark World Tourism Day on 27 September 2026 with a full day programme celebrating the culture, cuisine and natural beauty of Sri Lanka’s east coast, paired with community focused sustainability activities.

The celebrations open with a special buffet of authentic Sri Lankan cuisine, followed by a street food festival showcasing regional snacks and traditional sweets rarely found on resort menus. A signature World Tourism Day mocktail and cocktail, created for the occasion, will be served through the day, while traditional Sri Lankan cultural dance performances bring the island’s heritage to life for guests.

Beyond the festivities, the resort has planned a tree planting activity with guests and a beach or park clean up campaign, both reflecting Sun Siyam Pasikudah’s ongoing commitment to responsible tourism along Sri Lanka’s northeast coast.

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Seylan Cards partners with Cinnamon City of Dreams to unveil ‘Lenny Jay’s Michael: Relive the Legend’

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Left to Right Asiri Abhayaratne, AGM - Marketing & Sales, Seylan Bank PLC; Dileep Mudadeniya, Senior Vice President – Global Alliances and Partnerships, John Keells Leisure, Head of Corporate Affairs – John Keells Group; Kamal Munasinghe, Senior Vice President, Colombo Hotels, Cinnamon Hotels & Resorts and General Manager, Cinnamon Life at City of Dreams Sri Lanka; Eugene Seneviratne – DGM Retail Banking, Seylan Bank PLC; Ruchith Liyanage Head of Cards, Seylan Bank PLC; Roshan Rajapakse - Senior Manager Cards, Marketing & Promotions, Seylan Bank PLC

Seylan Cards has partnered with City of Dreams Sri Lanka, to present ‘This Is Michael: Relive the Legend’, a live tribute to the legacy, music, and energy of Michael Jackson. Held at City of Dreams Sri Lanka, from the 8th to the 9th of November 2026, the event offers Seylan Cardholders the unique opportunity to immerse themselves in premium entertainment and create extraordinary memories.

Standing as an internationally acclaimed Michael Jackson tribute production, ‘This is Michael: Relive the Legend’ has travelled across 15 countries and 25 cities. Performed by Lenny Jay, the tribute show honours the voice, costumes, and the iconic presence of Michael Jackson and his immense impact on the world, backed by an exhilarating cast of singers, dancers, and musicians.

The partnership expands Seylan Cards’ proposition, effectively opening the doors to exclusive entertainment, lifestyle, and experiential opportunities and allowing Cardholders to step into the experience of an authentic Jackson performance.

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