Business

Lanka Hospitals posts Rs. 4Bn PBT

Published

4 years ago

2023/03/20

Sri Lanka’s premier private sector healthcare provider, The Lanka Hospitals Corporation PLC, in an announcement to the Colombo Stock Exchange stated that it posted a profit before tax of Rs. 4 billion for the Financial Year ended 31st December 2022 compared to the Rs. 2.2 billion PBT reported in the corresponding period of the prior year.

The Group’s financials indicated that it had also reported a profit after tax of Rs. 3.2 billion in contrast to Rs. 2.23 billion reported in the prior year with a 47% growth in its EPS. The growth in profits attributable to a healthy operating profit and a high investment income as reflected in the Group financial statements.

Commenting on the performance, Group Chairman Vidya Jyothi Dr. Bandula Wijesiriwardena stated that the consistent performance of Lanka Hospitals has brought a greater sense of financial stability to the Group and is reflective of increased levels of customer confidence and the perseverance of all stakeholders involved in the business. He went on to state that the Board of Directors is very optimistic that the two companies in the Group will continue to thrive towards reaching excellence while adding meaningful value to all stakeholders in the business.

The Group Chief Executive Officer Deepthi Lokuarachchi stated “that he is very pleased to share his thoughts on the Group performance which presents the dynamism displayed by The Lanka Hospitals Group in creating a positively differentiated approach towards maintaining high standards of care in patient safety, accountability and the provision of medical services during one of the most difficult periods in the Group’s history. He went on to state that the value additions made to Lanka Hospitals customers, shareholders, staff and other business partners remained noteworthy and immense

The hospital group serves over 300,000 patients annually with the capacity of 300 beds, six dedicated ICUs, 10 General Operating Theatres, two Cardiac Theatres, and a state-of-the-art Cath Lab. In its network, the hospital works along with 950 registered medical consultants and highly trained and skilled medical and support staff. The hospital’s reference laboratory effectively functions with a large network of regional laboratories, 35 fully owned sample collection centres, and over 1,100 third-party affiliated sample collection centres.

Lanka Hospitals is the first hospital in Sri Lanka to be awarded the most prestigious accreditations in the world for its healthcare service standards including the Joint Commission International (JCI) accreditation seventh edition. Furthermore, Lanka Hospitals Diagnostics (LHD) is the only Sri Lankan laboratory to be accredited by the prestigious laboratory accreditation body, The College of American Pathologists (CAP).

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Business

ADB approves $100 million loan to boost skills development and jobs for youth in Sri Lanka

Published

11 hours ago

2026/10/2

Thilina Walpola

The Asian Development Bank (ADB) has approved a $100 million results-based loan to help Sri Lanka transform its technical and vocational education and training (TVET) system, equip more young people with industry-relevant skills, and strengthen the country’s competitiveness and inclusive growth.

The Skills Development System Transformation Program will support the Government of Sri Lanka’s efforts in improving the quality and relevance of skills training, strengthening links between training providers and industries, and expanding employment opportunities for youth. The program will increase women’s employment opportunities in nontraditional jobs in fields including automotive technology, engineering, information and communications technology, construction, and renewable energy.

“A skilled workforce is essential to Sri Lanka’s long-term economic transformation and competitiveness,” said ADB Country Director for Sri Lanka Shannon Cowlin. “This program will help create stronger pathways from education to employment by making training more responsive to industry needs, expanding opportunities for young people and women, and ensuring that graduates have the skills required by a modern and evolving economy.”

Though Sri Lanka’s economy is recovering, it faces skills shortages in priority sectors, high youth unemployment, and low female labor force participation. Many employers report difficulty finding workers with the skills needed in a changing economy.

Aligned with the Government of Sri Lanka’s Technical and Vocational Education and Training Sector Strategic Framework 2026–2035, the nationwide program will be implemented from 2027 to 2031 and is expected to directly benefit more than 100,000 young people through improved access to quality, employment-oriented training.

Business

USD 40.84m pipeline to secure aviation fuel supplies to BIA

Published

12 hours ago

2026/10/2

Thilina Walpola

By Ifham Nizam

The government has cleared a USD 40.84 million and Rs. 8,548.75 million contract to build a dedicated aviation fuel pipeline from Muthurajawela to Bandaranaike International Airport (BIA), alongside a massive new fuel storage facility with a capacity of 92,000 cubic metres.

Energy Minister Anura Karunatilaka said the project represented a major investment in strengthening the infrastructure underpinning Sri Lanka’s aviation fuel supply and ensuring more reliable fuel availability at the country’s main international airport.

‘This project will provide the infrastructure required to strengthen the reliability and continuity of aviation fuel supplies to Bandaranaike International Airport, Karunatilaka said.

The contract has been awarded to China Petroleum Pipeline Engineering Company Limited, following an international competitive procurement process in which three bids were received.

The project will see a new aviation fuel storage tank complex constructed at Muthurajawela, together with the associated infrastructure required for handling and transferring aviation fuel.

Business

CSE activity up, turnover weak at Rs. 1.4 billion

Published

12 hours ago

2026/10/2

Thilina Walpola

By Hiran H Senewiratne

Trading activity on the Colombo Stock Exchange (CSE) gathered pace yesterday as global fuel prices began to show signs of easing, according to market analysts.In this context, both indices moved upwards. All Share Price Index up by 67.97 points while S and P SL20 up by 8.30 points.

Turnover stood at Rs 1.4 billion with seven crossings. Those crossings were reported in Sampath Bank 1.7 million shares crossed to the tune of Rs 238 million and its share price traded at Rs 140, Access Engineering two million shares crossed to the tune of Rs 159 million and its share price traded at Rs 79.50, LOLC one million shares crossed to the tune of Rs 129 million and its share price traded at Rs 129, HNB 100,000 shares crossed to the tune of Rs 38.4 million and its share price traded at Rs 384, JKH 1.9 million shares crossed to the tune of Rs 35 million and its share price traded at Rs 18.60, Hayleys 100,000 shares crossed to the tune of Rs 22.50 million and its share price traded at Rs 225 and Richard Pieris 847,000 shares crossed to the tune of Rs 22 million and its share price traded at Rs 25.50.

In the retail market top seven companies that have mainly contributed to the turnover were Sampath Bank Rs 114 million (813,000 shares traded), JKH Rs 100 million (5.3 million shares traded) LB Finance Rs 49 million (325,000 shares traded), HNB Finance Rs 30 million (27 million shares traded), HNB Rs 27 million (70000 shares traded), NTB Rs 25 million (82000 shares traded ) and Lanka IOC Rs 21 million (666,000 shares traded). During the day 65 million shares volumes changed hands in 10433 transactions.

The Banking and manufacturing sector counters performed well. In the banking sector Sampath Bank let the market while manufacturing sector especially JKH also significantly performed well. With the fuel revision Land IOC also a significant stock at the floor.

Meanwhile, First Capital Treasuries said that Ramesh Schaffter resigned as a Non-Independent Non-Executive Director with effect from October 1, to facilitate the restructuring of the company’s board.

Yesterday the Central Bank announced the US Dollar rate as against rupee. The rupee was quoted flat at Rs 330.65/80 to the US dollar in the spot market , while bond yields dropped, dealers said.