Business Today TOP 25 2014–2015 recognizes top corporate performers
Business Today TOP 25 commended the top corporate performers of Sri Lanka for the financial year 2014-2015. The award ceremony was held on November 17, 2015 at the Hilton Colombo acknowledging 25 outstanding companies for their exceptional performance in corporate Sri Lanka during the year.
Chief Guest for the occasion Hon. Prime Minister Ranil Wickremesinghe attended the event with Prof Maithree Wickramasinghe and distinguished guests from the business fraternity, diplomats, politicians and policy makers of Sri Lanka.
Ven Galaboda Gnanissara Thero, Chief Incumbent of the Gangaramaya Temple stated during his address at the occasion, “Lord Buddha preached to man “Vishwa Paramanathi”; meaning trust is the most valuable relationship. Ethnicity, religion, cast and creed or political ideologies are insignificant if one trusts another. From his teachings, this example is applicable to everyone despite their different belief systems.”
During his address at the occasion, Hon Ranil Wickremesinghe, Prime Minister stated that “While Sri Lanka’s business sector and the corporates have become more competitive all our resources are insufficient for a rapid economic development. If we are to look at Sri Lanka as becoming a platform, as I have mentioned many times before for competitive value addition and logistic centre, we do require foreign investment. And it is available. We have to ensure that we carry out our next generation economic reforms and that we can attract that investment to Sri Lanka. It is certainly going to be a challenge which we cannot runaway from.”
John Keells Holdings once again ranked at number one in the Business Today TOP 25, reiterating the Group’s remarkable standing in the corporate sector of Sri Lanka. The Group saw a 22 percent increase in profit after tax from last year to 15.75 billion rupees with the leisure sector making the largest contribution of 31 percent. Addressing the gathering at the ceremony, Ronnie Peiris, Director – John Keells said, “John Keells Holdings is humbled by the recognition as the numero uno of the Corporate World in 2014/2015 by Business Today. We owe our success to our stakeholders, particularly our employees, customers, suppliers the society we operate in and the government. We will leave no stone unturned in our efforts to contribute to the economic development of our glorious country.”
Commercial Bank of Ceylon retained its position at number two while Hatton National Bank moved up the ranking to secure the third position. Recording an asset growth of 31 percent to 797 billion rupees, for the third consecutive year Commercial Bank achieved a profit after tax of over ten billion rupees to reach 11.24 billion rupees. “This is the eighth year we have been ranked in the Top 25. Our success is due to the dedication and passion of employees of all levels and the unwavering support of our customers,” commented Dharma Dheerasinghe, Chairman – Commercial Bank on their recognition.
Hatton National Bank recorded assets of over 600 billion rupees while profit after tax exceeded 10 billion rupees. Jonathan Alles, Managing Director/CEO – HNB stated, “HNB is especially thrilled to be amongst the Top Three. We are grateful for the recognition bestowed on HNB which we believe is an acknowledgement of the tremendous work that has been done over the past few years in re-engineering the business models, processes and structures.”
Ceylon Tobacco Company ranked fourth while the Distilleries Company of Sri Lanka secured the fifth place. Speaking at the event, Dinesh Dharmadasa, Director – Ceylon Tobacco Corporation remarked, “We are extremely proud to be placed fourth, especially as we and DCSL are the only organisations that represent the Manufacturing Sector in this list.”
“We are extremely proud to receive this Award once again. In a challenging year we are happy to state that the company increased it’s turnover and PAT in comparison to the previous year. Amitha Gooneratne, Director – Distilleries Company of Sri Lanka on being placed fifth on the list.
Dialog Axiata was positioned sixth, Lanka Orix Leasing Company at seven while Bukit Darah secured the eighth position. Completing the top ten positions Sri Lanka Telecom and Sampath Bank were ranked ninth and tenth positions respectively.
Speaking at the event, Dr. Hans Wijayasuriya, Group Chief Executive – Dialog Axiata said, “I’d like to dedicate this Award to our 10 million customers who come from across all provinces and the fatrthest corners of Sri Lanka, the 3000 strong Dialog Team who has put heart and soul towards the achievements of this company and also our enterprise partners.”
“We have been promoted to the top ten this year and this is a great honour for all of us. I would like to thank out customers who contribute to 85% of our income”, stated Kapila Jayawardena, Managing Director / CEO – LOLC.
“This award reflects the dedicated hard work that resulted in achieving all our goals through our people and is a tribute to those who are in the corporate battlefield,” commented Chandima Gunawardena, Director – Bukit Darah.
Entering the top ten, P G Kumarasinghe Sirisena, Chairman – SLT meanwhile said, “Sri Lanka Telecom has been recognised continuously at these Awards for many years. As the national telecommunication service and premier IT Solution provider in Sri Lanka Telecom is really proud to support the country with our IT capabilities and next generation IT solutions which will support Sri Lanka in attaining its position as an IT hub in the region.”
Dhammika Perera, Chairman – Sampath Bank stated, “Behind every successful business are stakeholders, customers and employees who are the pillars of their achievements. Tonight I dedicate this award to the human capital that made this recognition for Sampath Bank and Valibal One a reality.”
The ranking continued with Hayleys at 11, Aitken Spence – 12, Nestlé Lanka – 13, Vallibel One – 14, National Development Bank – 15, DFCC Bank – 16, People’s Leasing and Finance – 17, Central Finance – 18, Chevron Lubricants Lanka – 19, Seylan Bank – 20, Ceylinco Insurance – 21, Nations Trust Bank entered the Business Today TOP 25 for the first time at 22, Hemas Holdings – 23, Access Engineering 24 and Lanka IOC – 25.
Commenting on entering the Business Today TOP 25 for the first time, Renuka Fernando, CEO – Nations Trust Bank said, “I wish to dedicate this accolade to the dynamic team at Nations Trust whose passion for excellence, unrelenting drive and winning mindset has been the key success factor for this achievement.”
The Business Today TOP 25 companies have been selected on the basis of their financial performance during the financial year ending December 31, 2014 and March 31, 2015.
The Business Today TOP 25 is strictly based on the published information of companies listed in the Colombo Stock Exchange. Turnover alone is not a true indicator of the performance of a company. Financial criteria considered include Share Turnover, Revenue, Profit after Tax, Return on Equity, Earnings per Share, Market Capitalisation and Value Addition. Weights are assigned to the criteria without any prejudice.
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.