Business
Positive turn at CSE following ‘IMF-Govt. staff level agreement’
By Hiran H.Senewiratne
CSE trading became positive yesterday following the IMF staff and the Sri Lankan authorities reaching a staff-level agreement on the first review under an economic reform program supported by the 48-month US$ 3 billion Extended Fund Facility (EFF) arrangement.
Accordingly, Sri Lanka will have access to about US$330 million in financing once the review is approved by the IMF management and IMF Executive Board, the IMF said in a release yesterday.
The IMF said macroeconomic policy reforms are starting to bear fruit and the economy is showing tentative signs of stabilization. “Sustaining the reform momentum and addressing governance weaknesses and corruption vulnerabilities are critical to put the economy on a path towards lasting recovery and stable and inclusive growth, it said.
Amid those developments both indices moved up. The All- Share Price Index went up by 280 points and S and P SL20 rose by 106.9 points. Turnover stood at Rs 909 million with one crossing. The crossing was reported in LB Finance, which crossed 500,000 shares to the tune of Rs 30.7 million; its shares traded at Rs 1.50.
In the retail market, top seven companies that mainly contributed to the turnover were; JKH Rs 97.1 million (508,000 shares traded), First Capital Treasuries Rs 71.7 million (2.2 million shares traded), First Capital Holdings Rs 62 million (1.19 million shares traded), Sampath Bank Rs 43.7 million (680,000 shares traded), Browns Investments Rs 34.9 million (6.4 million shares traded), Capital Alliance Rs 32.9 million (549,000 shares traded and SLT Rs 23.5 million (247,000 shares traded). During the day 36.6 million share volumes changed hands in 13800 transactions.
It is said that high net worth and institutional investor participation was noted in R I L Property and Nations Trust Bank. Mixed interest was observed in JKH, Lanka IOC and LB Finance, while retail interest was noted in Browns Investments, First Capital Holdings and First Capital Treasuries.
The Diversified Financials sector was the top contributor to the market turnover (due to First Capital Holdings and First Capital Treasuries), while the sector index gained 0.76%. The share price of First Capital Holdings decreased by 80 cents to settle at Rs 50.90. The share price of First Capital Treasuries moved up by 40 cents to reach Rs 41.10.
The Retailing sector was the second highest contributor to the market turnover, while the sector index decreased by 0.24 percent.
JKH, First Capital Treasuries and First Capital Holdings were also included among the top turnover contributors. The share price of R I L Property gained 10 cents to reach Rs 5.80. The share price of John Keells Holdings recorded a gain of 75 cents to reach Rs 191. The share price of Lanka IOC edged down Rs 10 cents to settle at Rs 99.Yesterday the US dollar buying rate was Rs 319.64 and the selling rate Rs 330.41.
Business
Dialog delivers strong growth, stronger national contribution in FY 2025
Dialog Axiata PLC announced, Friday 6th February 2026, its consolidated financial results (Reviewed) for the year ended 31st December 2025. Financial results included those of Dialog Axiata PLC (the “Company”) and of the Dialog Axiata Group (the “Group”).
Group Performance
The Group delivered a strong performance across Mobile, Fixed Line and Digital Pay Television businesses recording a positive Core Revenue growth of 16% Year to Date (“YTD”). Group Headline Revenue reached Rs179.6Bn, up 5% YTD, despite the continued strategic scaling down of low-margin international wholesale business. In Q4 2025, Revenue was recorded at Rs46.5Bn up 2% Quarter-on-Quarter (“QoQ”) and 2% Year-on-Year (“YoY”).
The Group Earnings Before Interest, Tax, Depreciation and Amortisation (“EBITDA”) reached Rs86.0Bn up 30% YTD supported by Core Revenue performance and Cost Rescaling Initiatives. On a QoQ basis Group EBITDA demonstrated a modest growth to record at Rs23.0Bn up 2% QoQ with an EBITDA margin of 49.5% in line with the Revenue performance. Group EBITDA margin reached 47.9% for FY 2025, up 9.2pp.
Group Net Profit After Tax (“NPAT”) reached Rs20.8Bn for FY 2025, up 67% YTD mainly resulting from robust EBITDA growth, despite higher tax and net finance costs. Normalized for forex impact, NPAT growth was recorded at +>100% YTD to reach Rs22.1Bn. On a QoQ basis NPAT grew 3% to reach Rs5.9Bn resulting from strong EBITDA performance.
On the back of strong operational performance, the Group recorded Operating Free Cash Flow (“OFCF”)
of Rs49.3Bn for FY 2025 up >100% YTD.
Dividend Payment to Shareholders
In line with the dividend policy and financial performance of the Group and taking into account the forward investment requirements to serve the nation’s demand for Broadband and Digital services, the Board of Directors of Dialog Axiata PLC at its meeting held on 6th February 2026, resolved to propose for consideration by the Shareholders of the Company, a dividend to ordinary shareholders amounting to Rs1.50 per share. The said dividend, if approved by shareholders, would translate to a Dividend Yield of 5.0% based on share closing price for FY 2025. The dividend so proposed will be considered for approval by the shareholders at the Annual General Meeting (AGM) of the Company, the date pertaining to which would be notified in due course.
Company and Subsidiary Performance
At an entity level, Dialog Axiata PLC (the “Company”) continued to be the primary contributor to Group Revenue (76%) and Group EBITDA (74%). Aided by sustained growth in the Data segment and cost-rescaling initiatives, Company revenue was recorded at Rs135.8Bn for FY 2025, up 18% YTD, EBITDA rose 32% YTD to reach Rs63.6Bn. On a QoQ basis, Q4 2025 Revenue was recorded at Rs34.8Bn, down 1% QoQ due to a reclassification of Hubbing Revenue, while EBITDA decline 1% QoQ to record Rs17.0Bn, largely attributable to network restoration costs and donations made in relation to the Cyclone Ditwah relief efforts. Furthermore, NPAT was recorded at Rs15.6Bn for FY 2025, up 41% YTD. Normalised for forex impacts, the company NPAT was up +>100% YTD to reach Rs17.0Bn. On a QoQ basis, Company NPAT was recorded at Rs4.5Bn, down 6% QoQ.
Business
Ceylinco Life’s Pranama Scholarships reach 25-year milestone
Ceylinco Life has announced the launch of the 25th consecutive edition of its flagship Pranama Scholarships programme, marking a significant milestone in the company’s long-standing commitment to recognising and rewarding excellence among the children of its policyholders.
Under the 2026 programme, the life insurance market leader will present scholarships with a total cumulative value of Rs. 22.7 million, continuing a rewards initiative that has now been conducted without interruption for a quarter of a century. Since its inception, the Ceylinco Life Pranama Scholarships programme has benefitted 3,466 students across the country, representing a total investment of Rs. 240 million in nurturing academic achievement and outstanding performance in sports, arts and other extracurricular pursuits.
Business
Sri Lankans’ artistic genius glowingly manifests at Kala Pola ‘26
The artistic genius of Sri Lankans was amply manifest all over again at ‘Kala Pola ‘26’ which was held on February 8th at Ananda Coomaraswamy Mawatha Colombo 7; the usual, teeming and colourful venue for this annual grand exhibition and celebration of the work of local visual artists.
If there is one thing that has flourished memorably and resplendently in Sri Lanka over the centuries it is the artistic capability or genius of its people. It is something that all Sri Lankans could feel a sense of elation over because from the viewpoint of the arts, Sri Lanka is second to no other nation. With regard to the visual arts a veritable dazzling radiance of this inborn and persisting capability is seen at the annual open air ‘Kala Pola’.

A bird of Sri Lanka created from scraps of iron waste.
All capable visual artists, wherever they hail from in Sri Lanka, enjoy the opportunity of exhibiting their work at the ‘Kala Pola’ and this is a distinctive ‘positive’ of this annual event that draws numberless artists and viewers. There was an abundance of paintings, sketches and sculptures, for instance, and one work was as good as the other. Ample and equal space was afforded each artist. Its widely participatory and open nature enables one to describe the exhibition as exuding a profoundly democratic ethos.
Accordingly, this time around at ‘Kala Pola ‘26’ too Sri Lankans’ creative efforts were there to be viewed, studied and enjoyed in the customary carnival atmosphere where connoisseurs, local and foreign, met in a sprit of camaraderie and good cheer. Many thanks are owed once again to the George Keyt Foundation for the presentation of the event in association with the John Keells Group and the John Keells Foundation, not forgetting the Nations Trust Bank, which was the event’s Official Banking Partner. The exhibition was officially declared open by Chief Guest Marc-Andre Franche, UN Resident Coordinator in Sri Lanka.
By Lynn Ockersz
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