Business
JKH records EBITDA growth of 45% to Rs.9.29 billion in Q2
Summarised below are some of the key operational and financial highlights of JKH performance during the quarter under review:Group EBITDA recorded a notable improvement to Rs.9.29 billion during the quarter under review, which is an increase of 45 per cent against the comparative period of last year [2021/22 Q2: Rs.6.41 billion], demonstrating the strong underlying cash operational performance of the Group.
While the second quarter of the previous year was partially disrupted on account of the lockdowns due to the pandemic, the overall operating indicators in most businesses demonstrated activity at pre-pandemic levels.With the exception of the Property industry group, the Group’s businesses recorded strong growth in EBITDA, compared to the second quarter of the previous year, on the back of a continued recovery momentum.
Group PBT recorded a decline of 10 per cent to Rs.2.56 billion in the quarter under review, mainly on account of the second quarter of the previous year including revenue and profit recognition from the handover of the residential apartment units at ‘Cinnamon Life’, and the higher finance expenses due to the significant increase in interest rates on working capital facilities, particularly in the Leisure and Retail industry groups. Further, the PBT of the Holding Company was impacted by the translation impact of the IFC loan interest payment and the notional non-cash interest charged on the convertible debentures issued to HWIC Asia Fund (HWIC) in August 2022, in line with the accounting treatment, due to significant difference between the market interest rates and the three per cent interest accrued on the instrument.
In August 2022, the Government gazetted regulations under the Casino Business (Regulation) Act of 2010 to formalise the process of issuing of licences and monitoring of operations for casinos in Sri Lanka. With the regularising of Gaming, the Group will proceed with finalising arrangements with prospective gaming operators to operate at ‘Cinnamon Life’. Similar to the experience with Integrated Resorts in other Asian countries, ‘Cinnamon Life’ has the potential to transform Colombo as a destination for leisure and entertainment and lead to significant foreign exchange earnings for the country.
The profitability of the Transportation industry group recorded an increase driven by the Group’s Bunkering business, which recorded higher margins, and the Group’s Ports and Shipping business, where both businesses benefitted from the translation impact due to the depreciation of the Rupee against the previous year.
The Leisure industry group recorded a continued turnaround in performance primarily driven by the Maldivian Resorts segment, supported by higher occupancy.The Consumer Foods industry group continued its recovery momentum with the Beverages and Frozen Confectionery businesses recording growth in volumes.The performance of the Supermarket business was driven by growth in same store sales through a combination of higher basket values on account of inflation and an increase in customer footfall.
The Property industry group recorded a decline in profitability as the second quarter of the previous year included revenue and profit recognition from the handover of the residential apartment units at ‘Cinnamon Life’.
Business
ADB-funded Thalaiyadi plant serves as blueprint for vulnerable dry zones in Sri Lanka
Sri Lanka should adopt a diversified water-security strategy, says chief engineer
By Sanath Nanayakkare
For generations, the Jaffna Peninsula has relied almost entirely on an underground freshwater lens. With no major perennial rivers to lean on, the region has long walked a tightrope between water scarcity, seasonal droughts, and a creeping groundwater salinity that has challenged communities across the North. Today, however, a monumental shift is underway along the windswept Vadamaradchi coast.
To understand how Sri Lanka is rewriting its water security playbook, one need only look to the Thalaiyadi Seawater Reverse Osmosis (SWRO) Plant.
V. Vijayakanth, Chief Engineer of the Jaffna Kilinochchi Water Supply and Sanitation Project (JKWSSP), recently explained the engineering marvels, environmental safeguards, and long-term vision driving this landmark infrastructure project.
“Building a multi-million-gallon desalination plant on an open, deep-sea coastline facing the Indian Ocean was no small feat,” he said.
Vijayakanth noted that the project required extensive marine, geotechnical, and ecological investigations before a single pipe was laid.
“The scale of the marine installation was striking: an intake and outfall system featuring roughly 1,300 metres of large-diameter pipeline, buried two metres beneath the seabed in water depths reaching up to 12 metres. Because ocean work is strictly dictated by nature, the team had to mobilise an excavator-mounted barge from India and execute a complex offshore operation within a very tight window before the onset of the monsoon.”
“One of the greatest historical hurdles of reverse osmosis technology has been its heavy appetite for electricity. To keep operational costs in check, the Thalaiyady plant integrates state-of-the-art isobaric pressure-exchanger energy recovery systems. These devices capture hydraulic energy from the high-pressure brine reject stream and transfer it directly back to the incoming seawater feed – recovering roughly 95% of available energy and slashing power requirements.”
“Environmental stewardship was equally central to the design. To prevent high-salinity discharge from harming the marine ecosystem, the plant utilizes an offshore outfall equipped with specialized diffusers positioned more than 500 metres from the shore. This ensures rapid mixing within a tightly monitored zone, safeguarding local marine life,” he said.
The impact of the plant is already tangible on the ground. Producing water that meets rigorous national quality standards (SLS 614:2013), the facility feeds into a vast transmission network linked to elevated service reservoirs. These tanks regulate hydraulic pressure across sprawling distribution routes, bringing relief to areas historically plagued by hard, brackish water.
Currently, about 1,600 households in the Karaveddi Zone are actively connected to the desalinated supply, with water flowing across a regional network stretching from Kodikamam and Jaffna City down to distant island communities like Delft, Kayts and Punguduthivu.
The peninsula’s total daily drinking water demand hovers around 50,000 cubic metres for a population of roughly 600,000. Operating at full capacity, the Thalaiyadi plant yields 24,000 cubic metres per day – meeting nearly half of the region’s current needs.
Yet, planners are already looking decades ahead. Driven by economic development, tourism, and proposed industrial zones like Kankesanthurai, projected potable water requirements for domestic, commercial, and industrial needs are expected to climb from 95,000 cubic metres per day in 2025 to 135,000 by 2045, and 175,000 by 2065. Meeting this future trajectory will require a diversified national strategy combining desalination with surface-water preservation and rainwater harvesting.
When asked whether Sri Lanka should lean exclusively on seawater conversion amid intensifying climate volatility, Vijayakanth emphasised the need for a balanced approach: “Sri Lanka should adopt a diversified water-security strategy, prioritising sustainable surface-water development, groundwater protection, rainwater harvesting, water conservation, treated wastewater reuse and catchment protection. Desalination can complement these sources as a valuable climate-resilient and drought-proof option where appropriate.”
Backed by financial and technical collaboration from the Asian Development Bank (ADB), the project has given the National Water Supply and Drainage Board (NWSDB) invaluable expertise in advanced desalination management. Crucially, a two-year hands-on training program is ensuring that local technical staff master everything from membrane upkeep to preventive maintenance.
As climate variability accelerates, Thalaiyadi serves as a vital proof-of-concept. While energy-intensive desalination cannot replace conventional freshwater sources everywhere, Vijayakanth emphasises that it stands as an indispensable, drought-proof shield for Sri Lanka’s vulnerable dry zones – turning the ocean itself into a secure foundation for the nation’s future.
Business
Tropic Of Linen takes new form at The Shoppes at City of Dreams
Sri Lankan fashion label Tropic Of Linen recently opened the doors to its second boutique, located at The Shoppes at City of Dreams.
For over a decade, linen has formed the core of the brand’s inspiration and business ethos. Its textures, movement, and natural irregularities carry through the striking interior of Tropic Of Linen’s newly opened second store. Large sculptural forms in wind-worn sandstone sit against softer curves, while a grand olive tree anchors the heart of the store, reaching up toward a skylight and giving life to the entire space.
Drawing on her background in fine art and design, co-founder Minha Akram envisioned a layered, sensory interior intended to draw people into the world of Tropic Of Linen and invite them to linger.
Business
ANC Education celebrates ‘Class of 2026’ at graduation ceremony in Colombo
ANC Education held its 2026 graduation ceremony at BMICH, Colombo, celebrating graduates across multiple programmes. The cohort included 53 BBA graduates from Northwood University, 22 Psychological Sciences graduates from Northern Arizona University, 320 Pearson BTEC HND graduates, and 29 BTEC Level 7 graduates, alongside foundation, diploma, and transfer pathway students. Senior representatives from partner institutions attended.
Best Performer Awards recognised outstanding academic achievement. The event honoured years of hard work and support from families and educators. Since 2002, ANC has provided local and international pathways. Graduates now pursue careers, further studies, or international opportunities.
-
News7 days agoMissing doctor’s body found in Mahiyanganaya
-
News7 days agoAustralia declines to release Finance Secy Suriyapperuma’s citizenship details
-
News4 days agoEight politicians in drug kingpin probe
-
News7 days ago22A: BASL suggests CJ recuse himself from hearing petitions
-
Features2 days ago“Wrap Me Up in My Blazer”— A Gentlemanly Bradby Reminiscence
-
Business4 days agoSri Lanka opens up: A new season of direct connectivity
-
Features6 days agoInsights from Chieftains of Uva: Genealogy of two Kandyan Families – Part II
-
Features4 days agoRedefining ageing in Sri Lanka


