Business
JAT records highest ever PAT amidst export revenue growth of 317%
Group PAT up by 232% to LKR 717 million
TTM PAT LKR 1,102 million
Total revenue up by 72%
Multinational conglomerate and Sri Lanka’s and Bangladesh’s market leader in wood coatings, JAT Holdings PLC, has delivered impressive results during the 3rd Quarter of FY 2021/22, despite subdued market conditions. Group Profit After Tax (PAT) rose 232%, against the same period in the year prior, to LKR 717 million for the quarter, while PAT for the trailing 12-months (TTM) stood at LKR 1,102 million.
The 9 months under review also witnessed revenues rise 72%, while gross profit margins of the Company remained steady at over 30%. Export revenue share also rose to 22% of total revenue, against 9% achieved during the year prior. Investors will also be pleased to note that EPS (of trailing 12 months) stood at LKR 2.16. This resilient financial performance comes as the Company begins Q4, which has demonstrated to be the best quarter for JAT Holdings and the total Coatings Industry and accounts for as much as 45% of PAT historically due to seasonal factors.
Discussing the financial performance of the Company, Nishal Ferdinando – Director / CEO said, “It is with great pleasure that we present investors with the solid results we’ve achieved over the last quarter, just six months since our IPO. These metrics were achieved amidst a subdued market environment and other challenges, volatile exchange rates and a scarcity of materials in the global market. However, we adapted to the market conditions and remained agile, maintaining our gross profit margins. We also leveraged on our strong supplier relations and continuous improvements to our production processes through the implementation of lean and six sigma principles to maintain our gross profit targets.”
Resilient performance was also recorded across all of JAT Holdings business sectors. The WHITE by JAT product range recorded sales 62% above budget for the 1st nine months of FY 2021/22, while sales in the brush and wood coatings segments increased by 57% and 33%, respectively, against the same period in the year prior. JAT Holdings’ Bangladesh operations also witnessed a 379% increase in revenue, which will be further boosted as a result of manufacturing commencing in Q4 of FY22 which is ahead of schedule. The Company has also secured a pipeline of projects worth in excess of LKR 1 billion, through luxury kitchen and wardrobe projects for premier developments such as Prime Grand Residencies and 606 The Address.
Commenting on the Company’s immediate future plans, Aelian Gunawardene – Founder and Managing Director added, “At this rate, we’re on track to meet our 1.2-billion-rupee PAT target for the current financial year. As a result of our strong financial performance, we have also been able to secure stocks of raw materials and other items for at least the next 5 months, which gives us flexibility amidst the current challenges facing imports. Furthermore, we are very enthusiastic about Q4 as we know it to historically be the most profitable quarter for us due to seasonality. Thus, backed by the resilient performance we have delivered over a challenging Q3, investors can look forward to an even more robust and rewarding performance during Q4. The Company expects to end FY 2021/22 having met all targets and exceeding expectations in every way. Furthermore, our R&D plant, which is scheduled to be fully functional by Q2 of FY23, will help to further boost our gross profit margins, enabling us to deliver exceptional value to our investors well into the future.”
Business
SLT-MOBITEL driving Sri Lanka’s economic resilience through digital infrastructure
Corporate accolades underscore the alignment between its operational excellence and national development
In an era where national competitiveness is intrinsically tied to digital connectivity, strengthening the country’s digital backbone has become an urgent priority. Within this context, the evolving role of Sri Lanka’s leading telecommunications provider, SLT-MOBITEL, offers valuable insight into how technological infrastructure can underpin broader economic resilience.
Telecommunications and digital networks are foundational to economic transformation. By expanding high-speed broadband access, upgrading enterprise cloud capabilities, and bridging the urban-rural connectivity divide, SLT-MOBITEL helps reduce business transaction costs, streamline supply chains, and enable micro, small, and medium enterprises to reach global markets.
Recent corporate accolades further underscore this alignment between operational excellence and national development. SLT-MOBITEL’s triple triumph at the National Business Excellence Awards 2026 – winning in the Infrastructure and Utilities sector, Performance Management, and ICT Services categories – highlights its growing impact. Notably, the recognition of eChannelling’s contributions to digital healthcare reflects a broader strategic pivot toward integrated technology solutions.
“Institutional efficiency of this nature is critical for attracting foreign direct investment, as global partners increasingly assess a country’s digital maturity and systemic stability before committing capital,” noted industry observers.
Moreover, the company’s transition from a conventional telecom utility to a comprehensive digital solutions provider aligns seamlessly with Sri Lanka’s national digitalisation agenda. As the country pursues public sector modernisation, enhanced e-governance, and a competitive knowledge economy, the private sector must step up to deliver secure, scalable, and future-ready networks. Investments in data centres, cybersecurity frameworks, and advanced ICT infrastructure act as strategic buffers, ensuring that Sri Lanka’s economic apparatus remains agile and resilient amid future global uncertainties.
However, industry experts caution that while these achievements are commendable, SLT-MOBITEL still has a considerable distance to cover in fully enabling a truly digital economy.
Business
Port City Colombo strengthens Gulf investment ties at Dubai diplomatic engagement
Port City Colombo (PCC) took a prominent role as Platinum Sponsor at the second edition of Sri Lanka Beyond Your Dreams, a high-level diplomatic and investment engagement hosted by the Consulate General of Sri Lanka in Dubai and the Northern Emirates. The event, held on 2nd September 2026 at the Hilton Dubai Al Habtoor City, brought together over 400 senior UAE-based business leaders, investors, diplomats, and institutional stakeholders, alongside Sri Lanka’s most senior government representatives.
The gathering was graced by Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of Foreign Trade, as Guest of Honour, and Vijitha Herath, Sri Lanka’s Minister of Foreign Affairs, Foreign Employment and Tourism. A high-level Sri Lankan delegation – including the Secretary to the Prime Minister, the Chairman of the Board of Investment, the Chairman of the Export Development Board, and the Director General of Commerce – underscored the government’s strong commitment to deepening economic diplomacy with the UAE.
In his keynote address, Minister Herath reaffirmed the centuries-old ties between Sri Lanka and the Arab region, emphasising the UAE’s vital role as a key economic partner. He stressed the urgency of finalising a Comprehensive Economic Partnership Agreement (CEPA) with the UAE, which would establish a robust framework to elevate trade, investment, and bilateral cooperation. Declaring Sri Lanka “open and ready for business,” he positioned Port City Colombo as the physical embodiment of this economic mission – a modern Special Economic Zone (SEZ) with a dedicated legal framework and competitive incentives, offering UAE investors a natural gateway to South Asia while maintaining strong Gulf connectivity.
Business
American Premium Water strikes Gold at Dragons of Sri Lanka 2026
American Premium Water has secured four wins at Dragons of Sri Lanka Awards 2026, including three Gold Dragons and one Black Dragon, marking a significant milestone for the brand following its relaunch last year.
Part of the prestigious Dragons of Asia awards, Dragons of Sri Lanka brings the program’s regional platform to the local market, celebrating creative and effective marketing communications, with entries evaluated on strategic thinking, creativity, execution and impact. Established in 2000, Dragons of Asia is one of Asia’s premier results-driven marketing awards programs.
For American Premium Water, the achievements are particularly significant given that the company’s debut at the Dragons awards has resulted in four Dragons across four categories. In the distinction of Gold Dragons, American Premium Water was recognized across three categories including Product Launch or Re Launch, Cause, Environment or Sustainability and Creative Excellence while the Black Dragon was awarded in recognition of Small Budget.
Competing alongside leading brands and agencies in Sri Lanka, American Premium Water’s four wins demonstrate the strength and effectiveness of its recent work. Winning three Gold Dragons across three distinct categories highlights the breadth of the brand’s achievements, while the Black Dragon for Small Budget further emphasizes its ability to create meaningful impact through focused and efficient investment.
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