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Hayleys delivers record PBT of Rs. 19.23 billion; Foreign currency earnings exceed USD 600 million

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The Hayleys Group delivered the highest revenue and profit in its 143-year history during FY 2020/21with revenue increasing to Rs 241.28 billion whilst net profit stood at Rs. 14.05 billion – six percent of revenue, a company news release issued last week said.

“Profit attributable to shareholders recorded a healthy growth to Rs. 7.64 billion, compared to Rs. 372.42 million the previous year with the performance underpinned by significant growth in the core performance of the Group’s export-oriented businesses, ongoing focus on resource optimisation and cost management through the ‘Haysmart’ program and the Group’s strategic agility in navigating the numerous complexities presented by the outbreak of the COVID-19 pandemic during the year” it said.

“The Group’s revenue increased to Rs.241.28 billion reflecting strong growth in export-oriented business including Hand Protection, Purification and Textiles. With foreign currency earnings exceeding USD 600 million, Hayleys emerged as the largest value-added-exporter among public listed entities.”

The release said gross profit increased by 22% supported by improvements in core profitability-primarily in export-oriented businesses. Concerted efforts at driving organisation-wide cost rationalisation have generated significant savings, with the increase in Administrative and Distribution expenses contained at five percent and two percent respectively, despite a considerable increase in activity levels.

Meanwhile, earnings before interest, tax, depreciation, and amortisation (EBITDA) recorded a strong growth of 42% to Rs. 33.21 billion and the Group’s Consolidated Earnings before Interest and Tax (EBIT) increased by 58% to Rs.25.95 billion during the year. Net finance cost declined by 38% reflecting the Group’s efforts to rationalise borrowings and the continued decline in market interest rates during the year, the release said.

“The Hand Protection, Purification and Textile sectors delivered remarkable growth supported by robust demand, proactive efforts to increase capacity utilisation, effective supply chain management and increased contributions from value-added products.

“The Agriculture and Construction Materials Sectors also recorded good profit growth, demonstrating strong resilience amidst the innumerable challenges that prevailed. The Transportation sector recorded strong rebound in the second half of the year delivering commendable earnings growth.

“Meanwhile, the Consumer & Retail Sector delivered its highest ever profitability, reflecting robust demand for IT products and the Singer Group’s strategic focus on optimising distribution channels to increase customer penetration.

“Understandably the Leisure Sector continued to generate losses” the release said.

“Despite the resurgence of COVID-19 infections in recent weeks, we remain optimistic regarding a medium-term economic revival, given the conducive policy environment and Government efforts to ensure continued business activity” said Mr. Mohan Pandithage, Chairman of Hayleys PLC. “Our team has embraced the realities of a post-pandemic world, through adapting to new ways of working. I have a special word of thanks to Mr Dhammika Perera, the Board of Directors and the Group Management Committee who steered the Group to deliver this exceptional results.

“I would like to extend my appreciation and gratitude to Hayleys Team, who have once again proven that they are the Group’s most valuable asset. We expect our export-oriented businesses to maintain their growth momentum while the strong rebound of our domestic businesses seen in the second half of the year is expected to continue in 2021/22.

“Our optimism is demonstrated by continued investments in expanding our operations and driving increased economic value, as evidenced by the Group’s recent acquisition of South Asia Textiles Limited which is expected to further strengthen our proposition in the textiles sector.”

The Board of Directors of Hayleys PLC comprises Messrs. Mohan Pandithage (Chairman and Chief Executive), Dhammika Perera (Co-Chairman), Sarath Ganegoda, Rajitha Kariyawasan, Dr. Harsha Cabral PC, Ruwan Waidyaratne, Hisham Jamaldeen, Aravinda Perera, Jayanthi Dharmasena, Rohan Karr, Gamini Gunaratne and Kawshi Amarasinghe (Alternate to Dhammika Perera).

 

 



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Asia-Pacific business leaders to accelerate sustainable business action

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More than 200 senior business leaders, policymakers, investors, sustainability practitioners and United Nations representatives convened in Colombo on 11–12 August for Forward Faster Now | APAC 2026: Driving Business Leadership for Sustainable and Inclusive Growth—the United Nations Global Compact’s flagship regional forum in Asia-Pacific.

Hosted by UN Global Compact Network Sri Lanka and organized by the UN Global Compact APAC Hub in collaboration with 14 Global Compact Country Networks, the forum strengthened regional collaboration and demonstrated the growing role of business leadership in advancing sustainable and inclusive growth across Asia-Pacific.

More than 80 high-level speakers from across the region contributed to the two-day programme, bringing together expertise from business, finance, government, the United Nations and civil society. The forum also convened an exceptional audience of CEOs, C-Suite, Board Directors, Heads of UN agencies and senior decision-makers, creating one of the region’s most significant platforms for cross-sector dialogue on sustainable business.

Across plenary dialogues, leadership panels and action-oriented workshops, participants explored the issues shaping the future of business in Asia-Pacific, including climate action, sustainable finance, gender equality, resilient supply chains, water stewardship, governance and integrity, digital innovation, human rights due diligence, circular economy solutions and ESG data for decision-making. Rather than focusing solely on ambition, Forward Faster Now challenged businesses to move from broad sustainability goals to target setting, practical decisions, stronger systems and action that can deliver progress at scale.

A defining milestone of the forum was the visit of Sanda Ojiambo, Assistant Secretary-General, CEO and Executive Director of the UN Global Compact. Her presence in Sri Lanka underscored the country’s growing role within the regional sustainability agenda and reinforced the importance of private sector leadership in delivering the Sustainable Development Goals.

Beyond the public programme, her visit included a series of bilateral engagements and strategic convenings with business and institutional leaders, deepening relationships and opening new avenues for engagement between the UN Global Compact and stakeholders in Sri Lanka.

The event also marked the launch of three significant initiatives by UN Global Compact Network Sri Lanka that will extend the impact of the convening well beyond the event itself. The Responsible Business Coalition was introduced as a new partnership to embed sustainability, and strengthen governance by bringing together Sri Lanka’s leading professional and industry associations to embed the Ten Principles of the UN Global Compact into their existing convening, training and thought-leadership channels, moving responsible business from a standalone function to a shared C-Suite and Board responsibility.

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Sri Lanka Insurance Corporation General celebrates ‘One Team, One Vision’ sales excellence at Annual Awards 2025

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The Sri Lanka Insurance Corporation General Ltd. (SLICGL) team gathered to honour its top-performing sales professionals at the Annual Sales Awards 2025, held under the theme ‘One Team, One Vision’ on 20th August at the Monarch Imperial.

The evening convened sales leaders and high achievers throughout the island to celebrate a year of sustained performance, customer trust, and commitment which has kept SLICGL at the forefront of Sri Lanka’s general insurance sector.

Affirming SLICGL’s appreciation for the people driving success on the ground, the Sales Awards 2025 recognised those who went beyond targets, deepened client relationships, and contributed directly to the company’s continued expansion.

The event drew an unprecedented audience of over 700 participants. This year’s celebrations recognised a record number of winners, more than double the achievements honoured last year covering a diverse range of award categories reflecting excellence at every level of the business.

Nusith Kumaratunga, Chairman, Sri Lanka Insurance Corporation graced the event as the Chief Guest together with the Board of Directors and senior management of SLICGL also present as invited guests, encouraging and commending the winners for their outstanding achievements.

The award winners at this year’s ceremony included Insurance Advisors, Marketing Executives, Branch Managers, Regional Managers, and members of the Head Office Sales Channels, who were recognised and celebrated for their outstanding achievements in multiple categories.

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Sri Lanka to host SEARIC Summit 2026 for the first time, welcoming over 500 youth leaders from across South East Asia

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(Left to Right: District Rotaract Representative of Sri Lanka and Maldives - PHF Rtn. Rtr. PP Dr. Jude Lucian, Chief Executive Officer of Destination Management Sector at John Keells Holdings PLC – Nalaka Amaratunga, SEARIC Summit Sri Lanka 2026 Chair – PDRR Akhila Wijetunga, Rotary District 3220 Governor of Sri Lanka and Maldives - Rtn. Kumar Sundararaj)

Sri Lanka is set to host the SEARIC Summit 2026 from 11 to 13 September 2026 at the Pegasus Reef Hotel, marking the first time the country will host the flagship regional gathering of the South East Asia Rotaract Information Centre (SEARIC).

Hosted by Rotaract in Rotary International District 3220 (RID 3220) – Sri Lanka & Maldives, the three-day summit is expected to bring together more than 500 delegates from six countries, creating a regional platform for leadership development, knowledge exchange, cultural understanding and collaboration among young leaders. The South-East Asia Rotaract Information Centre (SEARIC) serves as a regional platform connecting Rotaract districts across South East Asia. It facilitates collaboration, information exchange, cultural understanding and joint initiatives among Rotaractors across the region. The annual SEARIC Summit serves as the network’s flagship gathering, bringing together Rotaractors and Rotarians from participating countries for shared learning, fellowship, cultural exchange and collective growth.

Under the theme “The Role of Technology in the Future of Careers and Services,” SEARIC Summit Sri Lanka 2026 will explore the rapidly changing relationship between technology, careers, leadership and community service. As emerging technologies continue to transform industries and the way people work, the summit will provide a platform for young leaders to examine how technology can be used not only to prepare for the future of work, but also to strengthen the way communities are served. Across three days, delegates will participate in leadership and professional development sessions, discussions, cultural experiences, networking opportunities and community-focused programming, with the central theme reflected throughout the summit programme.

Beyond the Rotaract movement, the event also contributes to Sri Lanka’s broader positioning as a destination for international conferences, youth leadership programmes and regional collaboration. With hundreds of international delegates travelling to the country, the summit provides an opportunity to showcase Sri Lanka’s hospitality, culture and potential as a host destination for future international gatherings. The event further creates a platform for young leaders from across South East Asia to connect with Sri Lankan counterparts, exchange ideas and explore opportunities for cross-border collaboration.

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