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JAT records highest ever PAT amidst export revenue growth of 317%

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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.”



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Low-floor buses launched to boost accessible public transport for differently-abled

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A new low-floor bus service that gives priority to persons with disabilities and special needs was launched last Tuesday (21) from the Makumbura Multimodal Center (MMC).

The service was inaugurated under the patronage of Minister of Transport, Highways and Urban Development, Bimal Rathnayake.

Accordingly, ten specially designed low-floor buses have been introduced into the transport service today. These buses are specially designed so that wheelchair users, visually impaired passengers and also expectant women can board the bus with ease, the Transport Ministry said.

Each bus has 30 passenger seats and separate seating areas have been allocated for passengers using wheelchairs.

The pilot project operates on routes from Makumbura to Colombo Fort and from Makumbura to Kadawatha. These routes also cover major hospitals including the Colombo National Hospital and the Maharagama Apeksha Hospital.

Speaking at the event, Subject Minister Bimal Rathnayake stated that while these buses prioritize the differently-abled community, they will also provide a comfortable and reliable transport service for all passengers.

He also noted that 122 low-floor buses are planned to be introduced into service before the end of this year, and that in the future the service will be expanded to areas such as Kandy, Batticaloa, Matara and Jaffna.

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Nestlé Lanka Announces Change in Leadership

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Nestlé Lanka Limited has announced the appointment of Manav Sahni as its Chairman and Managing Director effective 01 May 2026. He will be succeeding Bernie Stefan, who will be transitioning to a new global role within the Nestlé Group. Bernie Stefan led Nestlé’s Sri Lankan operations through a particularly challenging time since 2023 – and has successfully guided the company through a strategic turnaround, positioning it on a axis for sustainable growth.

Speaking on his tenure at Nestlé Lanka, Bernie commented “Leading Nestlé Lanka has been a deeply meaningful chapter in my Nestlé journey. I am grateful to have worked alongside an amazing and resilient team that continues to make a difference for Sri Lankans across the country. On a personal note, it was an amazing opportunity to live on this beautiful island and experience firsthand the openness, warmth and kindness of its people, which has been the highlight of my Nestlé career to date. As Nestlé Lanka marks 120 years of enriching Sri Lankan lives, it is especially humbling to reflect on the role we have played in building on this legacy – positively touching individuals and families, strengthening community partnerships, and advancing our sustainability commitments. I am thankful to my colleagues, partners and stakeholders for their collaboration and trust, and to the wider business community, including through my role as a Board Member of the Ceylon Chamber of Commerce, for the opportunity to reinforce Nestlé’s commitment to responsible corporate citizenship. I leave very confident in the strength of the team and the journey that lies ahead.”

Manav Sahni brings with him over 18 years of experience in the FMCG & Telecom sector. Prior to taking on the role as Chairman and Managing Director of Nestlé Lanka Limited, he has been heading Nestlé’s Dairy business for the South Asia Region, where he expertly managed a highly diverse portfolio, driving sustainable business transformation.

“I am thrilled to take on the role of Chairman and Managing Director of Nestlé Lanka at such a pivotal moment in its journey. Nestlé has been part of Sri Lankan households for generations, and I am excited to work with the team to continue delighting consumers with tasty and nutritious products, while strengthening the positive impact we create through our brands and initiatives.”

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Majestic Cineplex Returns Bigger Better and More Immersive

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Ceylon Theatres will unveil the newly revamped Majestic Cineplex on the 29th of April 2026, beginning a new chapter for one of Sri Lanka’s best known cinema destinations. Located at Majestic City Colombo, Majestic Cineplex returns with major technology upgrades, enhanced comfort, and a range of premium viewing options, reinforcing Ceylon Theatres’ long standing reputation for raising the bar in cinema entertainment experiences in Sri Lanka. Accordingly, the upgraded Cineplex will be completely open to the public from 29th April 2026 onwards.

For generations of moviegoers, Majestic Cineplex has been a landmark venue in Colombo, and its latest transformation brings together the nostalgia of a familiar name with the excitement of a modern cinema experience. Leading the new screen line up is Majestic Platinum, which introduces Sri Lanka’s first and only digital LED cinema screen. Designed to deliver sharper visuals, deeper contrast, richer colour, and outstanding clarity, the auditorium features a 3D 4K Tricorne LED Cinema Screen together with Dolby Atmos surround sound. Majestic Platinum offers 226 seats, including 18 VIP recliner seats for those chasing a premium cinema experience.

The cineplex also features three additional theatres, each designed to offer a high quality movie experience. Majestic Superior includes Barco 2K projection, 3D capability, and 7.1 surround sound, with seating for 150 patrons. Majestic Ultra features the same advanced projection and audio systems with 149 seats. Majestic Gold offers a more private luxury setting with Barco 2K projection, 3D capability, DTSX surround sound, and 30 leather recliner seats, ideal for those looking for the most premium and exclusive experience.

Patrons can also enjoy an upgraded café experience with freshly prepared and ready to eat food available for purchase at the counter, along with convenience of being served to your seat. The new café experience, together with the upgraded theatres make for a more relaxed, enjoyable, and fulfilling experience for everyone.

Discussing the relaunch, Ganga Rathuvithana, General Manager Operations at Ceylon Theatres said, “Majestic Cineplex has always been a special part of Colombo’s cinema culture, and we are proud to welcome audiences back with an experience that reflects the future of movie entertainment. We have always believed in investing in the best available technology, from introducing Sri Lanka’s first 3D cinema to now launching the country’s first digital LED cinema screen. Our revamped Majestic Cineplex is designed to give movie lovers something truly special.”

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