From left: Sunil Liyanage, Director - Richard Pieris & Company, Kapila Jayawardena, Managing Director/CEO - LOLC, Susantha Ratnayake, Chairman/CEO – John Keells Holdings, Dr. Rohan Fernando, Director – Aitken Spence, Hanif Yusoof, Director/Group CEO - Expolanka Holdings, Ravi Dias, Managing Director – Commercial Bank of Ceylon, Mangala P B Yapa, Managing Director/CEO – Colombo Dockyard, A. R. Pandithage, Chairman/Managing Director – Diesel and Motor Engineering, Kishu Gomes, Managing Director/CEO – Caltex Lubricants Lanka, Arjun Fernando, Deputy Chief Executive – DFCC Bank, Dhammika Perera, Chairman – Sampath Bank and Chairman/Managing Director – Vallibel One, Sanjay Niles, CT Holdings, Harry Jayawardena, Chairman/Managing Director – DCSL and Chairman – Aitken Spence, Basil Rajapaksa, Minister of Economic Development, Ranil Wickremesinghe, Leader of the Opposition, Hari Selvanathan, Chairman – Bukit Darah, Rajendra Theagarajah, Managing Director/CEO – Hatton National Bank, Alois Hofbauer, Managing Director – Nestle Lanka, A.M. Pandithage, Chairman – Hayleys, Roshan Rassool, Director – Softlogic Holdings, Indrajit Wickramasinghe, Chief Operating Officer – NDB Bank, Chanaka Yatawara, CEO – United Motors, Supun Weerasinghe, Group Chief Operating Officer – Dialog Axiata, James Yamanaka, Managing Director/CEO – Ceylon Tobacco Company, R. Renganathan, Managing Director/CEO, Ceylinco Insurance - Life, Nimal Welgama, Chairman – SLT and Ajith Gunawardena, Managing Director/CEO, Ceylinco Insurance - General
Business Today TOP TWENTY FIVE recognised and commended the top corporate performers of Sri Lanka for the financial year 2011-2012. The award ceremony was held on October 22, 2012 at the Hilton Colombo acknowledging 25 outstanding companies that have displayed exceptional performance in corporate Sri Lanka during the year.
This year Business Today expanded the ranking to twenty five companies in order to acknowledge and encourage new entrants while appreciating the strong and established blue chips of the country.
The Chief Guest was Basil Rajapaksa, Minister of Economic Development while the Guest of Honour was Ranil Wickremesinghe, Leader of the Opposition. The event was graced by many other distinguished guests and invitees that included leading personalities from the business fraternity, diplomats, foreign dignitaries, military, politicians and policy makers of Sri Lanka. Pavithra Wanniarachchi, Minister of Technology and Research and Ranil Wickremesinghe addressed the gathering on this occasion.
John Keells Holdings once again ranked at number one in the Business Today TOP TWENTY FIVE, thereby substantiating its place as the giant in the corporate sector of Sri Lanka. The Group’s 27 percent increase in revenue from last year to 76.70 billion rupees was attributed to the increase not only in transportation but also leisure and consumer foods and retail.
Bukit Darah and Commercial Bank of Ceylon secured the second and third positions respectively. Recording a growth of seven percent the profit after tax (PAT) of Bukit Darah was 10.7 billion rupees. Commercial Bank of Ceylon’s PAT grew by 45.71 percent to record a value of 8.048 billion rupees for the first time in the history of the Bank.
The Distilleries Company of Sri Lanka ranked fourth while Lanka Orix Leasing Company secured the fifth place. Hatton National Bank was positioned sixth, Ceylon Tobacco Company at seven while Dialog Axiata secured the eighth position. Hayleys was at ninth position and Sri Lanka Telecom was at tenth position completing the top ten.
The ranking continues with Aitken Spence at 11, Sampath Bank - 12, Diesel & Motor Engineering - 13, Nestlé Lanka - 14, Vallibel One - 15, CT Holdings - 16, Richard Pieris & Company - 17, NDB Bank - 18, DFCC Bank - 19, United Motors - 20, Softlogic Holdings - 21, Expolanka Holdings - 22, Ceylinco Insurance - 23, Chevron Lubricants Lanka - 24 and Colombo Dockyard at number 25.
The Business Today TOP TWENTY FIVE companies have been selected on the basis of their financial performance during the financial year ending December 31, 2011 and March 31, 2012.
Turnover itself is not a clear indicator of the performance of a company. As such, some of the established financial criteria considered for selecting the top twenty five companies included share turnover, revenue, profit after tax, growth in sales turnover, growth in profit, return on equity, growth in earnings per share, market capitalisation, value of shares transacted and value addition.
Business Today has annually recognised and awarded top corporate performers in the country since 1998 acknowledging them for their invaluable contribution towards reinforcing the country’s economy.