Business
‘Hemas Holdings boosts profitability through efficiency in a challenging market’
Hemas Holdings PLC reported a cumulative revenue of Rs. 54.4 billion, with operating profits of Rs. 5.0 billion and earnings of Rs. 2.5 billion. The decrease in revenue compared to same period last year was a result of cautious consumer spending accompanied by several strategic downward price adjustments, particularly in the Consumer Brands segment.
However, the Group’s ongoing commitment to efficiency improvements alongside favourable foreign exchange movements, contributed to enhanced profitability margins. Additionally, the initiatives aimed at optimising working capital combined with the advantages of a declining interest rate environment, led to a further reduction in finance costs thereby boosting earnings.
The country’s GDP recorded a growth of 4.7 per cent while the local currency demonstrated resilience, appreciating against the United States Dollar to 299.36. Furthermore, the Average Weighted Prime Lending Rate (AWPLR) closed at 9.3 per cent. The Colombo Consumer Price Index experienced a deflation of 0.5 per cent, primarily due to easing of food inflation. However, despite these positive indicators, people faced considerable pressure on purchasing power due to high direct and indirect taxes, resulting in ongoing affordability challenges.
Consumer Brands
During the quarter, the strengthening of the domestic currency and declining global commodity prices have led to aggressive pricing and promotion strategies among industry players, intensifying competition in key categories. A strong focus on value-for-money (VFM) options continues, reflecting the current constraints on purchasing power.
The stationery market experienced heightened competition as new brands continue to emerge. This influx has prompted some players to reduce prices, often at the cost of compromising quality. As consumers navigate this landscape, their focus remains firmly on affordability, leading to a gradual shift in their purchasing habits. More specifically, there is a notable trend toward VFM offerings, as consumers seek products that deliver both quality and cost-effectiveness.
The Consumer Brands Sector reported a cumulative revenue of Rs. 19.9 billion while the operating profit and earnings Rs. 2.5 billion and Rs. 1.8 billion for the year respectively.
The Sector reported a revenue of Rs. 11.0 billion for the quarter, while the operating profits and earnings increased to Rs. 1.7 billion and Rs, 1.2 billion respectively due to the improved profitability margins compared to the last year. Despite the decline in revenue compared to the same period last year, a combination of margin improvement and cost rationalization initiatives led to overall growth for the businesses.
Home and Personal Care
Although overall industry demand declined, company witnessed improvements in overall market share, consumer reach and product availability this quarter. Increased emphasis on personal and beauty care, along with efficiency enhancements and supply chain optimisations resulted in increased profitability margins.
While competitive pricing and promotions were introduced in key categories, new product launches gained positive momentum, enhancing brand visibility and consumer engagement. This quarter marked the successful re-launch of Vivya, strengthening the brand’s presence in the market.
Business
Charting a worker-centered AI future: Colombo hosts landmark ITF conference
By Sanath Nanayakkare
Artificial intelligence and automation present serious challenges for workers – such as job consequences seen in docks and rail systems – and emphasises that workers cannot simply stop technological progress. By gathering young trade unionists in Sri Lanka, the ITF aims to establish key principles for engaging with technology, ensuring workers have a strong voice at the bargaining table, and encouraging constructive social dialogue with corporations and governments.
These compelling words from ITF General Secretary Stephen Cotton underscored the urgent reality facing modern labor as rapid technological advancements sweep across global industries.
Confronting this shifting landscape head-on, the International Transport Workers’ Federation (ITF), in partnership with the National Union of Seafarers of Sri Lanka (NUSS), convened a ground-breaking conference on artificial intelligence in Colombo from September 15–17.
As the ITF’s first-ever AI-focused global conference and the first of its kind hosted in Sri Lanka, the landmark event marked a critical milestone in balancing technological innovation with worker-centered safeguards.
Representing over 16.6 million transport workers worldwide, the ITF designed the gathering to tackle the multifaceted impacts of AI on safety, operations, workforce development, and governance. Rather than resisting progress, the conference focused on proactive engagement, establishing guiding principles to protect workers’ rights and privacy both at sea and on land.
Key discussions centred on sharing best practices for upskilling and reskilling transport personnel, ensuring that human oversight remains central to AI-driven logistics, routing, and maintenance.
Reflecting on the historic nature of the event, Boa Athu, CEO of National Union of Seafarers Asia Pacific, noted that the conference represented a monumental moment as AI emerges as a permanent fixture of contemporary life.
Highlighting NUSS’s pride in hosting the event in Colombo, Athu emphasised that AI offers transformative potential when guided by strong social dialogue, equitable access to training, and robust governance safeguards.
Ultimately, the Colombo conference demonstrated that the future of transport must be shaped by those who keep the world moving. By uniting international labour leaders, affiliates, port operators, and regulators, the event laid a vital foundation for inclusive policy frameworks that champion fair labour standards, securing a powerful voice for workers in an automated tomorrow.
Business
Bridging the digital divide: Sri Lanka’s airport licence challenge
By Sanath Nanayakkare
As Sri Lanka experiences a surge in visitors from its largest tourist market, India, a modern administrative hurdle has emerged at Bandaranaike International Airport (BIA).
While nations like India and Pakistan have successfully transitioned to fully digital driving licences and cashless ecosystems, Sri Lanka’s Department of Motor Traffic counter still requires a physical card to issue temporary local permits, The Island Financial Review learns.
This mismatch creates significant friction for independent travelers who rely entirely on smartphones and cloud-stored credentials. Tourists turned away at the airport – and sometimes redirected to the Werahera office in vain – find themselves unable to legally rent and drive vehicles. Consequently, this policy gap harms local car rental operators, causes tourist frustration, and deprives the government of valuable permit revenue.
The situation highlights a distinct irony: Sri Lankan motorists easily travel abroad using International Driving Permits that are readily accepted in India and Pakistan, yet local infrastructure cannot reciprocate due to outdated verification systems.
Recognizing the problem, Department of Motor Traffic officials have noted that upgrades and new equipment are currently in the works to integrate foreign digital platforms.
For a nation aggressively pursuing a national digitalisation drive, rapidly modernising these transport protocols is essential to keeping pace with global travelers and unlocking the full potential of its tourism economy.
Business
International Afro-Latin Dance Festival in Colombo to grow into a larger regional tourism draw
ALIF-SL, Sri Lanka’s first-ever international Afro-Latin dance festival, returns for its 4th edition from 25 to 27 September 2026 at the Galle Face Hotel, Colombo. The festival will bring together over 30 international and national artists and 175–200 participants from more than 20 countries, reaffirming its place as the region’s leading platform for Salsa, Bachata and Kizomba.
This year’s edition is headlined by Tropical Gem, the world’s No. 1 salsa team, travelling from Italy to perform and teach alongside a stellar international line-up. Attendees can also look forward to the ALIF Cup Sri Lanka Open, a keenly contested competition judged by an international panel, giving local dancers a rare opportunity to compete and connect with world-class talent.
“Every year, ALIF connects Sri Lanka to the world. With this year’s artist line-up and the ALIF Cup competition, we’re not just hosting a festival, we’re putting Sri Lanka on the map as a top destination for dance,” said JD Ruban, Founder and Director of ALIF-SL
Beyond the dance floor, ALIF-SL continues to support Sri Lanka’s tourism sector, drawing dancers, judges and enthusiasts from across the globe to Colombo and positioning the capital as an emerging regional hub for social dance. Organizers plan to grow the festival into a larger regional tourism draw, introduce new competition categories, and bring in even bigger headline acts in future editions.
-
News4 days agoUS embassy won’t comment on IGP’s probe into joint drug raid
-
News3 days agoBid for Basil’s extradition nears final stage: Police
-
Features6 days agoThe emptying university: why are academics leaving?
-
Business4 days agoAll-new Bolero MaXX unveiled in Sri Lanka
-
News2 days agoShanakiyan urges urgent action over reported death sentence for Lankan in Saudi Arabia
-
Opinion6 days agoWho committed genocide and created mass graves in Sri Lanka?
-
Opinion4 days agoA journalist who wrote across the divide
-
Weather6 days agoShowers above 100 mm expected at times in the Western, Sabaragamuwa, Central, Uva and Southern provinces, and in Ampara and Batticaloa districts

