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Sunshine Holdings’ 3Q performance highlights Group’s strategic expansions

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Diversified conglomerate Sunshine Holdings reported resilient growth in top-line and bottom-line performances during the first nine months of the current financial year (9MFY21) with strong contributions kicking in from healthcare, agribusiness and consumer sectors. During this period, the Group posted a consolidated revenue of Rs. 17.4 billion, up by 10% Year-on-Year (YoY); Group Profit After Tax (PAT) saw an increase of 11% YoY compared to last year, amounting to Rs. 1.9 billion.

The Group announced the merger of its healthcare business consisting of Sunshine Healthcare Lanka and Healthguard Pharmacy with the healthcare arm of Akbar Brothers, which consists of Akbar Pharmaceuticals, Lina Manufacturing and Lina Spiro. The strategic merger, which was finalised last month, created Sri Lanka’s first fully-integrated healthcare company starting from manufacturing up to retailing of healthcare products, including last-mile distribution across the country for all healthcare products. Sunshine Healthcare now operates in all five segments of the healthcare supply chain, namely research and development (R&D), manufacturing, importation, distribution and retail.

Furthermore, the Group’s Consumer sector acquired 100% shareholding of Daintee Limited in September 2020 to further expand its presence, beyond tea, in the local consumer goods sector. Daintee is a market leader in sweets and toffee category in Sri Lanka with 40% market share.

The Group revenue, which predominantly includes from Healthcare, Consumer goods, and Agribusiness sectors, contributed 52.2%, 28.4%, and 17.1% respectively. Healthcare sector recorded a YoY growth of 11% against last year, while the Agri sector revenue was up by 14.8%. Consumer goods sector recorded a 17.3% increase in revenue, mainly due to the addition of Daintee Limited’s performance in the last four months.

Gross profit margin for 9MFY21 stood at 33.3%, an increase of 247 basis points against last year. The gross profit improved by Rs. 918 million up 18.8% YoY compared to the previous year, mainly backed by the contribution from the healthcare and agribusiness sectors. The Group Earnings before interest and taxes (EBIT) closed at Rs. 2,906 million, an increase of 13.7% YoY.

“Our strong top-line and bottom-line performances reflect the resiliency and dedication of our employees to delivering the best products and unmatched service and convenience to our customers, amidst an ongoing pandemic,” said Vish Govindasamy, Group Managing Director of Sunshine Holdings PLC. “Key business sectors have been able to pick up momentum amidst tough business conditions, reporting resilient revenue growth during this period.”



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Ceylinco Life agent among three global finalists for award

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Ceylinco Life’s Ambalantota branch agent AIP Manjula

Ceylinco Life’s Ambalantota branch agent AIP Manjula has been named one of three global finalists for the prestigious Insurance Agent of the Year award at the 11th Asia Trusted Life Agents & Advisers Awards (ATLAA) 2026.

The recognition places a Sri Lankan insurance professional among the finalists in a regional field spanning South Asia, Southeast Asia, East Asia and the wider Asia-Pacific region.

Ceylinco Life said the achievement reflected the calibre and customer-focused approach of its agency force, while recognising Manjula’s professionalism and commitment to policyholders.

The award evaluates insurance agents on criteria extending beyond sales performance, including ethical conduct, client service, policy persistency, digital adoption, innovative practices and contributions to the insurance industry and community.

The awards are organised by Asia Advisers Network and Asia Insurance Review, with LIMRA as co-organiser. An independent judging and balloting process is monitored by KPMG as the official scrutineer. The judging panel comprises senior insurance executives, association presidents and industry experts from across the Asia-Pacific region.

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CEAT Kelani retains AA+ rating for sixth year

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CEAT Kelani Holdings (CKH) has retained its National Long-Term Rating of ‘AA+(lka)’ with a Stable Outlook from Fitch Ratings for the sixth consecutive year, reflecting the company’s financial resilience and leading position in Sri Lanka’s pneumatic tyre market.

The ‘AA+(lka)’ rating, the second-highest on Fitch’s national scale, indicates a very strong capacity to meet financial commitments.

Fitch said CKH’s established market leadership and resilient financial profile remained key strengths, while noting its exposure to price-sensitive, cyclical and highly competitive markets.

The Stable Outlook reflects expectations that the company will maintain its market position despite rising input costs and increasing competition from imported tyres, while preserving adequate credit metrics during periods of weaker earnings and higher investment.

Fitch expects CKH’s established brand, extensive dealer network and adaptive pricing strategies to support its market position. Planned production facility upgrades are also expected to improve product quality, particularly in the radial tyre segment.

The rating agency expects near-term pressure on margins from higher raw material and energy costs but said the company’s low leverage and sound liquidity would provide a cushion.

CKH Chairman Chanaka De Silva said the rating reinforced the company’s focus on disciplined financial management, operational adaptability and long-term investment.

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Commercial Bank leads nationwide aquatic clean-up drive

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Sanath Manatunge, Managing Director/CEO of Commercial Bank and some of the Bank’s staff participating in the coastal cleanup programme

Commercial Bank of Ceylon mobilised employees, customers, volunteers and community members for a nationwide coastal and aquatic clean-up campaign across 20 locations on September 19 to mark International Coastal Cleanup Day 2026.

Conducted under the bank’s sustainability platform, themed ‘Forward Together for a Cleaner Future’, the initiative covered 16 coastal locations and four inland waterways, bringing together stakeholders for a coordinated environmental conservation effort.

The flagship programme was held at Mount Lavinia Beach, with additional activities at Wellawatte and Galle Face beaches. Similar initiatives were conducted by the bank’s regional offices at locations including Kalutara, Negombo, Trincomalee, Batticaloa, Puttalam, Jaffna, Galle, Dondra, Tangalle and along the Mahaweli River.

Employees, management, Future Force volunteers, customers and their families participated alongside the Marine Environment Protection Authority (MEPA), United Nations Global Compact Network Sri Lanka, government and local authorities, environmental organisations and community members.

The bank said the initiative reflected its commitment to water stewardship after adopting Sustainable Development Goal 6 — Clean Water and Sanitation — as a priority goal in 2025.

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