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CIC Holdings delivers resilient FY25 results with 9% topline growth

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Agriculture-rich diversified conglomerate CIC Holdings PLC (CSE: CIC) recorded steady revenue growth during the year ended 31 March 2025 (FY25), navigating macroeconomic headwinds and intense competition. The Group posted consolidated revenue of Rs. 83.3 billion, reflecting a 9.0% year-on-year (YoY) growth, driven by broad-based momentum across its core businesses.

Group gross profit rose to Rs. 22.2 billion, a 7.3% increase YoY, with gross margins holding steady at 26.7%. Group EBITDA remained resilient at Rs. 12.4 billion, reflecting the continued strength of CIC’s operating model. The Group recorded a PAT of Rs. 6.6 billion, which appears lower in comparison to the previous year due to a one-off gain of Rs. 5.3 billion recognised in FY24 from a bargain purchase related to the JKH investment. Adjusting for this exceptional item, CIC’s underlying performance remained stable.

CIC’s Crop Solutions segment remained the Group’s largest contributor, accounting for 41% of revenue, with continued leadership in Sri Lanka’s agriculture supply chain. Health & Personal Care and Livestock Solutions contributed 22% and 21% respectively, underscoring strong consumer engagement and demand across essential sectors. Notably, Agri Produce posted an increase of Rs. 583 Mn in segmental profit, signalling a revival in local cultivation and processing.

Group EBIT stood at Rs. 10.4 billion, marginally lower than the previous year, reflecting disciplined cost management amidst inflationary distribution and impairment expenses. Net Finance costs improved significantly, declining by 38% YoY to Rs. 1.6billion, supported by better debt structuring and favourable interest rate movements.

While Group EBITDA performance remained robust, reported net earnings were affected by a non-cash loss of Rs. 946 million from dilution in an associate investment, and a 23% decline in equity-accounted investee contributions.

During the period in review, key Group businesses under the five industry sectors, which are Crop Solutions, Agri Produce, Livestock Solutions, Industrial Solutions and Health/Personal Care, performed resiliently. Crop Solutions revenue grew from Rs. 31.2 billion to Rs. 33.2 billion, Livestock Solutions revenue grew from Rs. 16.1 billion to Rs. 17.7 billion and Health and Personal care revenue grew from Rs. 16.2 billion to Rs. 18.4 billion. Additionally, Industrial Solutions revenue increased from Rs. 7.5 billion to Rs. 8 billion.

“Commenting on the results, CIC Holdings Group CEO P.A. Seresinhe stated, “FY25 was a year of recalibration. We recorded strong topline growth across all five of our core business segments, reaffirming the Group’s fundamental market strength and integrated value chain. While macroeconomic pressures and accounting impacts from associate movements have affected bottom-line growth, our operational core remains strong.”



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Arpico NextGen Mattress gains recognition for innovation

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(From Left – Right) Arpitech (Pvt) Ltd, Richard Pieris & Company PLC, represented by Lalith Wijeyesinghe, Managing Director, and Jayanatha Alwis, Deputy General Manager - Manufacturing, accept the award and certificate for the Innovative Product of the Year Award

Arpico, the longstanding frontrunner in Sri Lanka’s mattress industry, recently received the award for 2nd Runner-Up in the category of Innovative Product of the Year at the 2025 PRISL Industry Awards. Hosted by the Plastic and Rubber Institute of Sri Lanka (PRISL), the awards honour outstanding industry contributions to the plastics, rubber, latex, and recycling sectors.

Awarded for Arpico’s NextGen mattress, the recognition reaffirmed the company’s commitment to crafting state-of-the-art sleep solutions and providing its customers with seamless retail experiences.

The Arpico NextGen mattress stands as a distinctive example of Arpico’s vision. With its inclusion of profile-cut air-cooling pocket technology, the NextGen mattress is the product of intensive research and development, designed to align with Arpico’s mission to innovate products that enrich everyday living. Built using cutting-edge German Computer Numerical Control (CNC) foam-cutting technology, the NextGen’s design aims to amplify cooling, essentially enhancing sleep quality through its superior comfort, adaptive support, and long-lasting performance, allowing sleepers to wake rejuvenated.

Discussing the award, Lalith Wijeyesinghe, Managing Director of Arpitech (Pvt) Ltd, Richard Pieris & Company PLC, said, “The award is a testament to the efforts and ingenuity of our team, led under the visionary guidance of our Group Chairman, CEO, and Managing Director of Richard Pieris & Company PLC, Dr Sena Yaddehige. It reaffirms our endeavours to design products that integrate emerging technologies for the benefit of our customers. Furthermore, we recognise the award as an incentive to continue pushing the boundaries of our achievements and pursue ever greater heights of success.”

 Arpitech (Pvt) Ltd is a leading trailblazer in polyurethane foam and spring mattresses, sheets, cushions, and siliconised fibre pillows, backed by a corporate legacy spanning over four decades of manufacturing excellence. The company upholds the highest quality standards, having secured the prestigious ISO 9001:2015 certification. Furthermore, Arpico adheres to the SLS standard for its acclaimed Arpifoam. Renowned as a trusted brand, Arpitech (Pvt) Ltd draws from the 90-year legacy of its parent company, the Richard Pieris & Company PLC. From a modest beginning as a filling station in 1932, Richard Pieris & Company has grown into one of Sri Lanka’s most diversified business conglomerates with interests in retail, plantations, rubber, furniture, tyres, plastics, insurance, stockbroking, financial services, and logistics. It is one of the largest listed entities on the Colombo Stock Exchange, with a remarkable annual turnover.

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Advice Lab unveils new 13,000+ sqft office, marking major expansion in financial services BPO to Australia

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Advice Lab, a leading provider of financial services BPO solutions to the Australian market, announced the opening of its new 13,000+ square‑foot office in Colombo, one of the most modern and dynamic workspaces in Sri Lanka. The move marks a significant milestone in the company’s rapid growth as a BPO and highlights its ongoing commitment to creating valuable job opportunities across Sri Lanka’s professional workforce.

The state‑of‑the‑art facility has been thoughtfully designed to support the company’s expanding operations and its growing portfolio of Australian financial advisers, accountants, and mortgage professionals. Purpose‑built for scale and efficiency, the workspace accommodates larger teams and advanced technology infrastructure while prioritizing employee well‑being and productivity. This emphasis on a people‑first culture is reflected in the inspiring, comfortable, and energizing environment created throughout the new office.

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Seylan Bank welcomes 2026 with Thai Pongal celebrations in Colombo

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Seylan Bank recently celebrated Thai Pongal with a vibrant and delightful ceremony. The event, hosted at Seylan Tower, honoured the diversity and inclusivity that embody the values of the Bank with a Heart. With customers and families from across the branches in attendance, the event celebrated the festival with a cultural show, including traditional dances and musical performances.

In addition to the main celebration, regional festivities reflecting the spirit of Thai Pongal were also marked across the Bank’s branch network in areas such as Kandy, Batticaloa and Jaffna, reinforcing Seylan’s commitment to inclusive workplace and brand-level celebrations.

Attended by Chairman, Justice Buwaneka Aluwihare, Director/CEO, Ramesh Jayasekara, staff, and customers, the event marked the beginning of a new year with well wishes for the multicultural financial entity and its endeavours to provide the best services for its customers. The Thai Pongal celebration greeted the New Year with hope for continued excellence in unlocking potential and empowering customers.

Dedicated to the Sun God, Thai Pongal is a Tamil Hindu harvest festival. Invoking blessings for the present and future, the festivities were accompanied by splashes of vibrant colour and equally delicious sweetmeats.

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