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Aitken Spence achieves 44% growth in 3Q PBT from non-tourism sectors

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Aitken Spence PLC non-tourism multi-industry sectors reported a Profit-Before-Tax (PBT) of Rs. 1.3 Bn in 3Q, a growth of 44% compared to the previous year in the midst of challenging economic conditions. These sectors also reported an EBITDA (Earnings Before Interest Expense, Tax, Depreciation and Amortisation) of Rs. 1.7 Bn compared to Rs. 1.4 Bn of EBITDA recorded during the third quarter of previous year.

An Aitken Spence press release said: ‘The overall contribution from the non-tourism sectors was notable during the second lockdown period of the country. Companies in the maritime and freight logistics, power, money transfer, elevator agency, printing and packaging, and plantation sectors performed exceptionally well compared to last year with an increase in PBT for the quarter while maintaining positive performance during the nine months ending 31st December 2020.

‘The Group’s latest iconic venture, Sri Lanka’s first waste-to-energy project with an investment of approximately Rs. 15 Bn will be formally launched this month by the Prime Minister. This project will provide a sustainable solution to the Colombo city’s waste management problem while adding renewable energy to the country’s energy profile.

‘Outstanding performance was seen from the strategic investments sector that recorded a profit before tax growth of 248%. The Group’s plantations segment recorded an excellent performance during the quarter with a substantial profit growth. During the quarter Elpitiya Plantations PLC clinched the award for Best Integrated Report – Plantations sector at the CMA Excellence in Integrated Reporting Awards 2020. The company was also presented with a certificate of Merit.

‘The printing and packaging segment recorded a significant improvement in its performance generating healthy profits during the quarter compared to the negative returns generated in the third quarter of the previous financial year. Furthermore, the maritime and freight logistics sector also performed remarkably to record a 10% increase in profits before tax for the period.

‘The Group’s tourism sector EBITDA for 3Q was a loss of Rs. 447.2 mn. However, subsequent to the reopening of Maldives, the hotels segment is gradually recovering alongside the local tourists handled by the Sri Lankan tourism sector. Amidst many challenges, Aitken Spence Hotels were awarded at the prestigious Luxury Lifestyle Awards – Heritance Aarah (Maldives) named the winner in the category of the Best All-Inclusive Resort in Asia and Desert Nights Camp (Oman) winner of the Best Luxury Hotel in Oman.

‘The destination management arm of the Group Aitken Spence Travels recently facilitated the first of many weekly charter flights from Kazakhstan an arrangement that will continue until April and which is expected to generate significant foreign exchange earnings to the country.

‘The Group recorded a loss from operations of Rs. 0.2 bn for the third quarter compared to the profit from operations of Rs. 1.8 bn recorded in the same quarter of the previous year. The Profit-Before-Tax (PBT) for the third quarter was a loss of Rs. 0.5 bn compared to a profit of Rs. 1.2 bn in the previous year, which was due to the pandemic weighing on the tourism sector.

‘Aitken Spence was the only Group that had two companies – Aitken Spence PLC and Aitken Spence Hotel Holdings PLC in the top 10 ranking in LMD’s Most Awarded. Aitken Spence PLC was recognised among the 10 Best Integrated Reports at the CMA Excellence in Integrated Awards 2020.

“Amidst the challenges faced this year and especially during the third quarter of 2020-2021, the innovative and pragmatic thinking that we had introduced during the initial months of the pandemic came to fruition whilst seeing a remarkable growth in the non-tourism sections. We expect a stronger resilience in the next quarter and financial year,” said Dr. Parakrama Dissanayake, Deputy Chairman and Managing Director of Aitken Spence PLC.

‘Listed in the Colombo Stock Exchange since 1983, Aitken Spence is a blue-chip conglomerate anchored to a heritage of excellence spanning over 150 years. Driven by over 13,000 employees and has a strong regional presence across 9 countries, in hotels, travels, maritime, freight and logistics solutions, plantations, power generation, insurance, printing, apparel and other services.’



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BOC secures ‘SLIM Kantar People’s Banking Services Brand of the Year 2025’

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BOC officials receiving the award at the SLIM Kantar People's Awards 2025

Reinforcing its position as a leader in Sri Lanka’s banking sector, Bank of Ceylon (BOC) has been once again named the ‘SLIM Kantar People’s Banking Services Brand of the Year’ at the SLIM Kantar People’s Awards 2025. This recognition, based on consumer preferences, highlights the bank’s role in Sri Lanka’s financial sector and its strong relationship with customers.

The SLIM Kantar People’s Awards, one of the most anticipated corporate events in Sri Lanka, is an accolade that directly reflects the voice of the people. Organised by the Sri Lanka Institute of Marketing (SLIM) and backed by an independent survey conducted by Kantar, the awards recognise brands and personalities that have established strong connections with Sri Lankan consumers. BOC’s repeated success in securing this award shows its continued trust and significance in the lives of millions.

As a financial institution that has played a key role in the country’s economic stability and growth , BOC continues to focus on digital banking, good governance, financial inclusion, and sustainability. Its efforts to improve financial literacy, promote savings and entrepreneurship, and support the SME sector have strengthened its position as a trusted financial partner.

Commenting on the achievement, the Chief Marketing Officer of Bank of Ceylon Sameera D Liyanage stated, “Winning the ˜People’s Banking Services Brand of the Year at the SLIM Kantar People’s Awards once again is a testament to the unwavering trust our customers place in Bank of Ceylon. This recognition reinforces our commitment to delivering innovative, accessible, and customer-centric banking solutions that empower individuals, businesses, and communities across Sri Lanka. As we continue this journey of excellence, we remain dedicated to shaping the future of banking with trust, resilience, and service at our core”

The bank attributes this latest recognition to the support of its customers and stakeholders. Expressing gratitude, BOC reaffirmed its vow to deliver banking solutions while maintaining a customer-focused approach. As it continues to adapt to technological advancements and market changes, BOC is focused on economic stability and financial well-being for all Sri Lankans.

For over 85 years, Bank of Ceylon has been a cornerstone of Sri Lanka’s financial landscape, connecting individuals and businesses to global opportunities. BOC’s extensive network with over 2,300 touch points spread across the nation, ensures that bank’s customers have convenient access to a wide range of financial services. Moreover BOC was ranked as the only Sri Lankan Bank among the Top 1000 World Banks 2024 and the Banker of the Year 2021,2023 and 2024 by The Banker Magazine UK, The Number 1 Banking Brand in Sri Lanka by Brand Finance Lanka. Internationally, Bank of Ceylon has established a strong presence in key locations such as a Subsidiary in London, UK; branches in Male and Hulhumalé in the Maldives; Chennai, India; and the Seychelles.(BOC)

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Sysco LABS concludes first edition of ‘Mentor Mash’ mentorship program

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Mentees Menusha Prithiviraj and Senuri Hettiarachchi sharing their experiences, highlighting the benefits of structured mentorship and knowledge sharing.

Sysco LABS recently concluded the first edition of ‘Mentor Mash’, an internal mentorship initiative designed to foster learning and professional development among colleagues. Over the course of six months, 26 mentor-mentee pairs engaged in structured mentorship, focusing on knowledge-sharing, career guidance and professional growth.

Speaking on the initiative, Rehan Anthonis, Senior Director – People Operations said: “At Sysco LABS, we recognize that the foundation of a strong workforce lies in continuous learning and development. The ‘Mentor Mash’ program was designed to provide colleagues with structured opportunities to gain insights, refine their skills and receive guidance from experienced professionals within the company. By fostering an environment where knowledge-sharing is prioritized, we are equipping our teams to drive innovation and excel as technology leaders.”

Sysco LABS remains committed to creating opportunities for internal learning, mentorship, and professional development, ensuring that colleagues are well-equipped to contribute meaningfully to company growth.

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Aitken Spence Institute of Hotel Management strengthens hospitality workforce with latest graduates

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The graduates with the Aitken Spence Hotels management team

Aitken Spence Institute of Hotel Management, a key initiative of Aitken Spence Hotels’ Learning and Development arm, held its latest graduation ceremony at Heritance Ahungalla, marking another milestone in its mission to develop skilled professionals for the hospitality industry. Established in 2007 as part of the company’s strategic Corporate Social Responsibility (CSR) initiative, the institute operates with the support of the TUI Care Foundation, ensuring students receive world-class training and career opportunities.

With Hotel Schools in Ahungalla and Dambulla, the institute offers training in Food & Beverage, Housekeeping, and Professional Cookery through a five-month program that integrates classroom learning with practical industry experience. Since its inception, over 800 students have graduated, many securing employment within Aitken Spence Hotels or furthering their studies.

The 2025 graduating class comprised 90 students, with those from Ahungalla specialising in Food & Beverage and Housekeeping, while Kandalama graduates focused on Food & Beverage and Professional Cookery. The event was attended by graduates, their families, and senior representatives from Aitken Spence Hotels, including Susith Jayawickrama, Joint Managing Director of Aitken Spence Hotel Managements (Pvt) Ltd, Suresh Muttiah, Group Chief Human Resources Officer, and Maheesha Ratnayaka, COO of the Sri Lanka Hotel Sector.

Speaking at the event, Susith Jayawickrama emphasised the programme’s role in shaping the industry’s future workforce. “By equipping young professionals with the necessary skills and real-world exposure, we are not only enhancing their career prospects but also strengthening Sri Lanka’s hospitality sector,” he stated.

A notable highlight of the ceremony was the presence of Ms. Dagmar Wöhrl, Member of the Board of Trustees at the TUI Care Foundation, an organisation that has played a pivotal role in supporting the initiative. With assistance from the TUI Academy in collaboration with the Sustainable Hospitality Alliance, students receive comprehensive support, including accommodation, meals, uniforms, and a stipend during their training. The TUI Care Foundation is an independent charitable organization founded by TUI, one of the world’s leading tourism businesses and is dedicated to harnessing the positive impact of tourism to protect the natural environment and empower communities in travel destinations

More than 75% of graduates are expected to transition into roles within Aitken Spence Hotels, reinforcing the institute’s commitment to bridging the skills gap in the hospitality industry. This year’s ceremony once again highlighted the institute’s dedication to providing structured career pathways for aspiring hospitality professionals in Sri Lanka.

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