Business
Hayleys records 78% growth in PBT to Rs.12.73 bn in first half
The Hayleys Group delivered remarkable growth and profitability during the first half of the financial year ending 31st March 2025, as it leveraged its leading market positions across diverse business verticals to deliver a Profit Before Tax of Rs.12.73 bn, an increase of 78% over the corresponding period of the previous year, a company news release said.
Meanwhile, the Group recorded a 44% increase in Profit Before Tax to Rs.7 bn during the second quarter of the financial year. The robust performance for the period reflects commendable top line growth, ongoing focus on operating efficiencies and effective management of finance costs, enabling continued value creation to shareholders with the annualized Earnings per Share increasing to Rs.4.23 compared to Rs.0.09 the previous year, the release added.
The Group’s Consolidated Revenue increased to Rs.236.15 bn, an increase of 17% compared to the previous year, led by strong growth in the Consumer & Retail (+52%), Transportation & Logistics (+26%) and Projects & Engineering (+87%) which benefitted from timely strategic interventions amid more conducive operating conditions. Export-oriented sectors contained the decline in Revenue to 3% y-o-y despite the appreciation of the Sri Lankan Rupee.
Top line growth coupled with the ongoing focus on operating efficiencies, effective margin management and strategic emphasis on driving digitization across key processes enabled the Group to record a 14% increase in Consolidated Earnings Before Interest and Tax (EBIT) to Rs.19.18 bn during the reviewed period. EBIT growth was driven by strong profitability in the Consumer & Retail and Transportation & Logistics sectors.
Growth in Consolidated Profit Before Tax of 78% y-o-y represents the Group’s strong operating performance and a near 35% reduction in net finance costs stemming from effective management of finance costs. During the year, Hayleys also retained its national long-term rating of ‘AAA (lka)’ by Fitch Ratings, attesting to the Group’s strong financial stability and resilient earnings profile. The Group’s Tax Expense increased by 44% to Rs.5.72 bn reflecting ongoing value creation to the Government. Overall the Group’s Consolidated Profit After Tax clocked in at Rs.7 bn an increase of 122% compared to the previous year.
Commenting on the Group’s performance, Chairman & Chief Executive, Mohan Pandithage said, “the performance during the period attests to the resilience of our operating models, the strength of our brands and market positions and the ongoing focus we place on driving innovation in both our products and processes. I am confident that the efforts we have placed in recent years to strengthen our businesses will continue to bear fruit, leading to continued growth, innovation and positive impact against the anticipated improvement in macro-economic conditions.”
“The Group remains deeply committed to driving its ESG aspirations as outlined in its holistic ESG Roadmap, the Hayleys Lifecode. As one of the country’s most socioeconomically impactful organizations, Hayleys continues to create inclusive value across its extensive supply chains and communities, driving economic empowerment across Sri Lanka”, the release added.
” The Group’s global network of employees exceeded 36,600 by end-September 2024 with continued investments in talent development, supporting employee well-being and building a diverse and inclusive culture. The Group’s ongoing efforts to decouple business expansion with adverse environmental impacts are reflected in a near 2% y-o-y reduction in the Group’s carbon footprint during the first half of the financial year, as it continued to increase reliance on renewable and sustainable energy sources.”
A centerpiece of the Sri Lankan economy, Hayleys is Sri Lanka’s most diversified conglomerate, publicly listed on the Colombo Stock Exchange, with businesses spanning over 16 sectors, catering to 80 markets worldwide, with a global footprint spanning 18 countries in five regions. Rated ‘AAA (lka)’ by Fitch Ratings, Hayleys was once again ranked as the nation’s No. 1 corporate in the LMD 100, Sri Lanka’s version of the Fortune 500. The Group is a champion of sustainable innovation and represents one of Sri Lanka’s most prominent success stories.
The Board of Directors of Hayleys PLC consists of Chairman and Chief Executive Mohan Pandithage, Co-Chairman Dhammika Perera, Sarath Ganegoda, Rajitha Kariyawasan, Dr. Harsha Cabral, PC, Ruwan Waidyaratne, Hisham Jamaldeen, Aravinda Perera, Jayanthi Dharmasena, Rohan Karr, Gamini Gunaratne, Timothy Speldewinde, Yohan Perera and Jonathan Alles.
Business
DIMO KNIGHTS 2026 Reinforces a Culture of Recognition and Growth
DIMO celebrated DIMO KNIGHTS 2026, recognizing employees whose exceptional dedication, leadership, innovation, and commitment continue to shape the organization’s success. More than an employee recognition event, DIMO KNIGHTS reflects DIMO’s unwavering commitment to cultivating a workplace where people are empowered to thrive, reinforcing the Employee Value Proposition of ‘Making Work Enjoyable and Rewarding’ while bringing its Corporate Purpose of Fuelling Dreams and Aspirations to life.
Held under the theme “Illuminating Leadership, Inspiring Achievement,” the event celebrated individuals who exemplify DIMO’s values and inspire excellence across the organization. By recognizing those who consistently go above and beyond, DIMO continues to foster a high-performance culture where people are empowered to innovate, lead, and create meaningful impact.
A highlight of the evening was the keynote address delivered by Mr. Ravi Kant, former Managing Director and Vice Chairman of Tata Motors India, who shared valuable insights on leadership, organizational transformation, and building resilient organizations capable of sustaining long-term success.
Commenting on the event, Ms. Dilrukshi Kurukulasuriya, Executive Director / Chief Human Resources Officer of DIMO, said: “Our Tribe is the driving force behind DIMO’s continued success. DIMO KNIGHTS is more than a celebration of outstanding performance; it is a reflection of the culture we strive to build every day. By recognizing and empowering our people, we reinforce our Employee Value Proposition of ‘Making Work Enjoyable and Rewarding’ while bringing our Corporate Purpose to life. When our people grow, innovate, and thrive, they create lasting value for our customers, partners, and the communities we serve.”
DIMO KNIGHTS reinforces the organization’s people-first philosophy by fostering a culture of appreciation, continuous learning, and purposeful leadership. The programme reflects DIMO’s conviction that when employees are empowered, recognized, and inspired to excel, they shape the future of the organization through innovation, collaboration, and sustained excellence, strengthening a high-performing culture that delivers lasting value, drives sustainable business success, and reinforces DIMO’s position as an employer of choice.
The evening recognized employees across a wide range of categories, celebrating outstanding performance, innovation, collaboration, customer focus, and leadership. The ceremony culminated with the presentation of the prestigious Innovator of the Year and Employee of the Year awards, with the Employee of the Year accolade presented to Mr. Chathura Gunasekera.
As DIMO continues to invest in developing exceptional talent, initiatives such as DIMO KNIGHTS reaffirm the organization’s belief that sustainable business success begins with its people. By creating an environment where individuals are recognized, empowered, and inspired to achieve their full potential, DIMO continues to cultivate a purpose-driven, high-performing workforce that is equipped to shape the future of the organization while delivering lasting value to all stakeholders.
Business
Sri Lanka’s lifestyle coffee culture boom and the two faces of its economy
By Sanath Nanayakkare
On Baseline Road in Colombo, Barista Coffee recently opened its 100th outlet. For a modern café culture spreading across shopping centers, office districts, and provincial towns, this milestone is a major commercial success. It shows a thriving urban service sector and a growing class of lifestyle consumers who use coffee shops as places to work, socialise, and meet.
This is a curious new picture emerging from Sri Lanka’s post-crisis economic recovery: the coffee cup is getting bigger, even as the household tea cup tells a very different story.
Yet, looking past the espresso machines, a different reality unfolds in the country’s kitchens.
International financial institutions note that while Sri Lanka’s macro-economy is recovering, household welfare and employment remain below pre-crisis levels. Poverty rates sit at roughly double what they were in 2019, and food prices doubled over a three-year span, forcing families to cut back on essentials.
This creates a striking local paradox, especially given Sri Lanka’s proud heritage as a global tea producer. While the world pays top dollar for Ceylon Tea, local market studies and industry reports have long pointed out an unfortunate disparity: many ordinary families find high-quality tea too expensive, often settling for lower-grade alternatives at home.
The growth of a 100-outlet coffee network does not mean prosperity has spread evenly across the island. Instead, it proves that there is a specific, well-resourced segment of consumers with the purchasing power to sustain a premium lifestyle economy, even as many other households carefully calculate the cost of everyday groceries.
Barista’s 100th store is not a bad-news story; it is a testament to acute entrepreneurial grit, shifting consumer behavior, and the vital revival of the nation’s urban service sectors. But it serves as an uncompromising reminder that macroeconomic stabilisation is not synonymous with household recovery.
As Colombo’s coffee culture looks toward its next hundred outlets, the true pulse of the nation’s economic health will not be measured by the espresso machines humming in sleek urban hubs, but by the quiet arithmetic happening in millions of kitchens beyond its doors – where the fundamental question remains whether a family can comfortably afford a better cup of Ceylon Tea.
Business
Aitken Spence Hotel Holdings Rs. 5 billion debenture issue oversubscribed on opening day
Aitken Spence Hotel Holdings PLC announced that its maiden listed, rated, unsecured, senior
redeemable debenture issue was oversubscribed on its opening day, 15th September 2026.
The Company sought to raise Rs. 3 billion through an initial issuance of 30 million debentures at Rs.
100 each, with an option to issue a further 20 million debentures in the event of oversubscription of the initial issue, increasing the total issue size to Rs. 5 billion.
The Company said it had received applications for more than 50 million debentures, the full amount on offer, prompting the issue to close at 4:30 p.m. on the opening day (15).
The basis of allotment will be announced to the Colombo Stock Exchange as per regulatory requirements in due course.
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