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Aitken Spence begins Q1 FY2025/26 on a strong note, reporting an EBITDA of Rs. 4.1 Bn

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Aitken Spence PLC, a leading conglomerate with a diverse regional presence, recorded a strong EBITDA of Rs. 4.1 billion for the first quarter ended 30 June 2025. EBITDA reflects the Group’s earnings prior to interest expenses, taxation, depreciation, amortisation, and foreign exchange gains or losses, but incorporates the share of profits from equity-accounted investees. This reflects a 7% year-on-year increase, underscoring the Group’s strong operational performance despite challenging external conditions.

The Group’s Maritime & Freight Logistics sector led a strong performance, recording a PBT of Rs. 1.05 billion. While the Group’s freight companies were impacted by reduced volumes and margins, the sector’s integrated logistics operations witnessed strong momentum, supported by increased utilisation of the newly commissioned warehouse facility. The Group’s maritime companies also posted steady improvements, contributing to the sector’s overall resilience and growth.

The Group’s Tourism sector demonstrated continued progress, narrowing losses to Rs. 0.22 billion. This growth was supported by stronger performance in the Group’s destination management segment, driven by increased passenger volumes, improved performance in local hotels, and steady gains from increased occupancy across overseas hotel operations in the Maldives, India, and Oman, together with restructuring of the hotel segment debt.

The Group’s Strategic Investments sector continued to demonstrate its long-term value creation potential, with Western Power Company—Sri Lanka’s pioneering waste-to-energy power plant—delivering higher generation and making a notable positive contribution to the sector’s performance. While the sector reported a slight dip in Profit Before Tax to Rs. 0.10 billion mainly due to the challenges faced in the Garment’s business, this was offset in part by the strong operational performance of Western Power, reinforcing the Group’s commitment to sustainable and innovative energy solutions. Additionally, the Group’s Printing and Plantations segments contributed positively to the sector’s overall results.

The Group’s Services sector achieved a PBT of Rs. 0.27 billion, reflecting a notable turnaround. The was primarily driven by increased revenue from elevator repair services and the operational efficiencies gained following the timely completion of commercial projects in the previous year, which helped streamline costs and enhance margins. Moreover, the recently commenced Port City BPO operation made a substantial contribution as well.

The Group also recorded a significant improvement in Profit Before Tax (PBT) for the quarter, which rose by 74.0% to Rs. 1.0 billion. Profit After Tax (PAT) increased sharply by 339.6% to Rs. 405.37 million.

The quarter was marked by notable achievements across the Group’s companies, including:

Turyaa Chennai celebrated 10 years of redefining five-star hospitality in South India.

Aitken Spence Apparels segment won two awards (Top 20 and category award) at the CPM Best Management Practices Awards by the Chartered Professional Management Institute of Sri Lanka.

Aitken Spence Travels won an award at the CPM Best Management Practices Awards under the Hospitality and Tourism Services category.

Heritance Aarah won Tripadvisor’s Travelers’ Choice “Best of the Best” Award.

ACE Apparel Koggala became Sri Lanka’s first company to receive OEKO-TEX Organic Cotton certification, marking a major step in sustainable manufacturing.

Aitken Spence Travels was recertified with the prestigious Travelife Certified sustainability certification.

Aitken Spence Hotels – Trainees from Heritance Rise Programme were among the top graduates at the SLITHM 2024/25 Graduation Ceremony.

Listed in the Colombo Stock Exchange since 1983, Aitken Spence is anchored to a heritage of excellence spanning over 150 years and driven by a team of more than 16,500 across 17 industries in 12 countries: Sri Lanka, Maldives, Fiji, India, Oman, Bangladesh, British Virgin Islands, Myanmar, Cambodia, Mozambique, Singapore and UAE.



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Ogilvy Group tops award tally at Dragons of Sri Lanka 2026

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The Ogilvy team with the Gold and Silver awards at the Dragons of Sri Lanka 2026

Nine awards, including two Golds, across disciplines recognise business-driven creativity

Ogilvy Group Sri Lanka delivered a standout performance at the recently concluded Dragons of Sri Lanka 2026 Awards, securing a total of nine awards comprising two Gold Dragons, one Silver Dragon and six Black Dragons, among the festival’s highest overall award tallies, a company news release said.

Gold Dragon wins for Phoenix Ogilvy and Ogilvy Digital, together with the seven additional recognitions across multiple categories, highlighted Ogilvy’s ability to combine creativity, strategic thinking and commercial effectiveness to deliver business results.

Organised by the 4As Sri Lanka, the third edition of Dragons of Sri Lanka shortlisted more than 50 agencies and corporates, making it one of the country’s most competitive marketing communications awards. These local awards, along with the chapters in Malaysia and Pakistan are part of the Dragons of Asia platform, one of the region’s leading programmes for marketing communications effectiveness, with entries being judged on strategy, originality, execution and measurable results.

Ogilvy Digital accounted for eight awards in total, including a Gold Dragon in the Business & Trade Marketing category, and a Silver Dragon in the Innovative Idea or Concept category. The Agency additionally received six Black Dragons across the categories of Innovative Idea or Concept, Business & Trade Marketing, Content Creation, Small Budget, Event or Experiential, and Brand Trial or Sales Generation.

Commenting on the achievement, Sajith Weerasinghe, Chief Operating Officer of Ogilvy Digital, said, “These recognitions reflect the breadth of capabilities we’ve built across strategy, creative, content, experience design, technology and performance marketing. The fact that the work was recognised across so many different disciplines demonstrates our ability to apply creativity to a wide range of business challenges and objectives. We’re proud that this achievement spans multiple clients, categories and types of work, reflecting both the versatility of our people and our commitment to delivering results.”

The Ogilvy Group’s second Gold Dragon win was Phoenix Ogilvy’s recognition in the Product Launch or Re-Launch category for the relaunch of American Premium Water. It was a multi-dimensional campaign which refreshed the identity and rejuvenated the positioning of one of Sri Lanka’s pioneering bottled drinking water brands, bolstering its 30-year heritage while connecting with a new generation of consumers.

Commenting on the win, Siddhartha Roy, Chief Operating Officer at Phoenix Ogilvy, said, “There’s always something special about reimagining a brand with a rich heritage. American Premium Water has been a trusted name in Sri Lanka for more than three decades, but the challenge was to make it relevant and compelling for a new generation of consumers. We created a new blueprint for growth for the brand’s positioning, proposition and visual identity, and manifested it through design, packaging and storytelling. To see that transformation recognised with a Gold Dragon, and more importantly reflected in the brand’s renewed momentum in the market, makes this a particularly rewarding achievement.”

The Ogilvy Group Sri Lanka operates across multiple marketing communication disciplines and comprises over 290 staff in creative, strategy, digital, media, public relations and integrated communications. As part of the global Ogilvy network, the Group partners with leading local and international brands to create integrated campaigns that build brands, influence behaviour and drive business growth.

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Musical tribute to Fr. Marcelline Jayakody held in California

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Rev. Fr. Rashmi M. Fernando with the performers at the event

A musical tribute celebrating the life and legacy of Rev. Fr. Marcelline Jayakody, OMI, renowned for his contribution to Sri Lankan arts, music, culture and religious harmony, was held in California with the participation of a large gathering of Sri Lankans.

Titled “Sri Lanka Rani Maniye,” the event was organised by the Sri Lankan Catholic Community in California (SLCCC) under the guidance of Rev. Fr. Rashmi M. Fernando, S.J.

Shalika Perera singing at the event

The programme honoured Fr. Jayakody, affectionately known as “Pansale Piyathuma” (The Priest of the Temple), for his efforts to promote Buddhist-Catholic understanding, interfaith dialogue and a shared Sri Lankan identity.

The event brought together members of the Maha Sangha, the Consul General of Sri Lanka in Los Angeles, musicians, singers, donors, parents, children and members of the Sri Lankan community from Los Angeles and other parts of Southern California.

Music, song and Sri Lankan cultural traditions featured prominently, with organisers placing particular emphasis on introducing the country’s artistic and cultural heritage to younger generations of Sri Lankans growing up overseas.

The programme also highlighted the importance of community unity, religious harmony and mutual respect among Sri Lankans living abroad.

Rev. Fr. Fernando told the gathering that the event marked only the beginning of efforts that could achieve more through unity “for the pride and greater good of our motherland, Sri Lanka.”

The organisers thanked the performers, volunteers, donors and well-wishers who contributed to the event, which concluded as a celebration of Fr. Jayakody’s enduring cultural legacy and the Sri Lankan diaspora’s continuing connection with its homeland.

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Hayleys Fentons completes Rs. 1 bn manufacturing facility in Wathupitiwala

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Hayleys Fentons Limited has completed construction of a state-of-the-art manufacturing facility for Shield Restraint Systems (Pvt) Ltd at the Wathupitiwala Export Processing Zone, with the project completed on schedule within approximately 14 months.

The project, valued at more than Rs. 1 billion, commenced with the laying of the foundation stone on January 7, 2025. It was undertaken by the project arm of Hayleys Fentons, with Design Consortium International (Pvt) Ltd serving as the principal design consultant.

The facility has been designed to meet international industry standards and incorporates advanced safety and energy-efficiency features. A pre-engineered building structural system was used to facilitate faster construction and optimise project costs.

The new facility will manufacture safety restraint systems for the international automotive industry through Shield Restraint Systems.

Hayleys Fentons Deputy Managing Director – Projects Sujith De Alwis said the timely completion of the project demonstrated the company’s engineering and project management capabilities and the ability of Sri Lankan construction expertise to meet stringent international standards.

Hayleys Mobility Executive Director Roshani Dharmaratne said the project required detailed planning, quality management and coordination across multiple disciplines.

Sujith De Alwis, Deputy Managing Director – Projects of Hayleys Fentons Limited and Roshani Dharmaratne, Executive Director of Hayleys Mobility Limited

Chairman Design Consortium Migara Alwis said the project further strengthens its portfolio in specialised industrial construction and supports investment linked to Sri Lanka’s participation in the global automotive supply chain.

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