Business
Trinity College Kandy OBA signs exclusive partnership with HNB
HNB announced another landmark partnership with the Trinity College Kandy Old Boy’s Association (OBA).
HNB launched the Affinity Card of the Trinity College Kandy Main OBA which is a customized Credit Card that will offer OBA members a host of exclusive benefits and discounts.
Additionally, HNB will also be serving as the banking partner for the 150th anniversary of the Trinity College Kandy, and participating in a series of fundraisers organized by the OBA for the Trinity 150 (T150) campaign to improve key infrastructure and facilities at the prestigious private school.
“Trinity College Kandy is known the world over as a hallowed institution providing excellence in all facets of education, and the best evidence of this can be seen in the remarkable individuals which this prestigious school has produced.
“We therefore consider it a distinct honour to partner with the OBA in order to support their efforts in enhancing the legacy of Trinity College Kandy, so their alma mater can continue its vital work of building the capabilities of Sri Lanka’s next generation of leaders,” HNB Deputy General Manager- Retail & SME Banking, Sanjay Wijemanne stated.
Business
‘Hemas Holdings boosts profitability through efficiency in a challenging market’
Hemas Holdings PLC reported a cumulative revenue of Rs. 54.4 billion, with operating profits of Rs. 5.0 billion and earnings of Rs. 2.5 billion. The decrease in revenue compared to same period last year was a result of cautious consumer spending accompanied by several strategic downward price adjustments, particularly in the Consumer Brands segment.
However, the Group’s ongoing commitment to efficiency improvements alongside favourable foreign exchange movements, contributed to enhanced profitability margins. Additionally, the initiatives aimed at optimising working capital combined with the advantages of a declining interest rate environment, led to a further reduction in finance costs thereby boosting earnings.
The country’s GDP recorded a growth of 4.7 per cent while the local currency demonstrated resilience, appreciating against the United States Dollar to 299.36. Furthermore, the Average Weighted Prime Lending Rate (AWPLR) closed at 9.3 per cent. The Colombo Consumer Price Index experienced a deflation of 0.5 per cent, primarily due to easing of food inflation. However, despite these positive indicators, people faced considerable pressure on purchasing power due to high direct and indirect taxes, resulting in ongoing affordability challenges.
Consumer Brands
During the quarter, the strengthening of the domestic currency and declining global commodity prices have led to aggressive pricing and promotion strategies among industry players, intensifying competition in key categories. A strong focus on value-for-money (VFM) options continues, reflecting the current constraints on purchasing power.
The stationery market experienced heightened competition as new brands continue to emerge. This influx has prompted some players to reduce prices, often at the cost of compromising quality. As consumers navigate this landscape, their focus remains firmly on affordability, leading to a gradual shift in their purchasing habits. More specifically, there is a notable trend toward VFM offerings, as consumers seek products that deliver both quality and cost-effectiveness.
The Consumer Brands Sector reported a cumulative revenue of Rs. 19.9 billion while the operating profit and earnings Rs. 2.5 billion and Rs. 1.8 billion for the year respectively.
The Sector reported a revenue of Rs. 11.0 billion for the quarter, while the operating profits and earnings increased to Rs. 1.7 billion and Rs, 1.2 billion respectively due to the improved profitability margins compared to the last year. Despite the decline in revenue compared to the same period last year, a combination of margin improvement and cost rationalization initiatives led to overall growth for the businesses.
Home and Personal Care
Although overall industry demand declined, company witnessed improvements in overall market share, consumer reach and product availability this quarter. Increased emphasis on personal and beauty care, along with efficiency enhancements and supply chain optimisations resulted in increased profitability margins.
While competitive pricing and promotions were introduced in key categories, new product launches gained positive momentum, enhancing brand visibility and consumer engagement. This quarter marked the successful re-launch of Vivya, strengthening the brand’s presence in the market.
Business
ComBank and Hayleys Solar donate solar power system
The Commercial Bank of Ceylon and Hayleys Solar recently donated a photovoltaic solar panel power supply system for the use of the Sri Kavantissa Vocational Training Centre in Tissamaharama and the Tissamaharama Raja Maha Vihara.
The 40kW on-grid solar power system benefits the students receiving vocational training at the centre as well as devotees from all around the island that visit the temple, and helps the two institutions to reduce their electricity costs.
The donation by the two companies flows from a strategic collaboration between Commercial Bank and Hayleys Solar to provide concessionary terms under the Bank’s ‘Diribala Green Development Loan’ scheme for businesses to purchase solar power systems from Hayleys Solar with a number of exclusive benefits.
Business
Browns Hotels & Resorts rings in a Tropical Christmas with festive cake mixing ceremony
Browns Hotels & Resorts welcomed the holiday season with a vibrant Christmas cake mixing ceremony at Occidental Eden Beruwala, embracing the theme of ‘Christmas Made Tropical for You’. Known for its diverse portfolio featuring beachfront retreats, scenic highland hideaways and cultural destinations throughout Sri Lanka, Browns Hotels & Resorts (BHR) welcomed the season in style by promising an array of holiday events that will blend effortlessly with the island’s paradisal charm.
The annual cake mixing ceremony featured a delightful combination of exotic fruits, aromatic spices and a selection of spirits, all combined with festive flair. Hosted by Channa Ekanayake, General Manager of Occidental Eden, the ceremony brought together General Managers from BHR properties across the island, in-house guests and team members, each contributing to the lively celebration.
Guests enjoyed Santa’s arrival and dynamic dance performances that set the tone for the vibrant season ahead, along with festive cocktails crafted to enhance the holiday atmosphere. The cake mixing ceremony was a symbol of warmth and goodwill, reflecting Browns Hotels & Resorts’ commitment to creating joyful moments for all guests.
Speaking on the occasion, CEO Eksath Wijeratne remarked, “At Browns Hotels & Resorts, we are dedicated to customising your Christmas experience to suit your needs, all while infusing it with our unique tropical charm. We’re ready with a fantastic seasonal line-up and new food and beverage offerings that will make this holiday season truly memorable.”
This year, Browns Hotels & Resorts has planned a bespoke ‘Tropical Christmas’ celebration at each of its stunning destinations, including Dickwella Resort, Hotel Sigiriya, The Calm Resort Pasikuda, Thaala Bentota, Club Hotel Dolphin Waikkal, Occidental Eden Beruwala and Occidental Paradise Dambulla, ensuring that guests can experience the festive spirit infused with the warmth of the tropics wherever they choose to celebrate.
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