Acquisition of Kenya’s Twiga Stationers strengthens Consumer Brands portfolio and creates platform for regional growth Hemas Holdings PLC, one of Sri Lanka’s leading diversified conglomerates, announces its entry into East Africa through the acquisition of a majority stake in Twiga Stationers & Printers Limited, one of Kenya’s leading stationery manufacturers and the owner of well-known…
Janashakthi PLC (JXG) reported its maiden first quarter financial year 2026/27 (Q1 FY27) results, marking its first reporting period since a successful IPO on the Colombo Stock Exchange (CSE) that was oversubscribed by 3 times. Consolidated revenue stood at LKR 6.4Bn, compared to LKR 7.2Bn in the corresponding period of the previous year, a decline…
Financial Performance Net Interest Income – 7.07 billion (+13%) Net Fee and Commission Income – 1.50 billion (+28%) Operating Profit before Taxes on Financial Services – 3.91 billion (+ 2%) Earnings per Share – 5.65 (+16%) Profitability Ratios: NIM-4.29%, ROA (Before Tax)- 78%, ROE-16.23% Balance Sheet Growth Total Assets increased by 46.02 billion (+15%) to…
The Federation of Information Technology Industry Sri Lanka (FITIS) has officially launched the Digital Excellence Awards 2026 under the forward-looking theme, “Embracing the AI Revolution.” The flagship initiative is designed to recognize and celebrate organizations driving digital innovation, while strategically steering the nation toward a globally competitive digital economy. The launch event brought together key…
The Teejay Group recorded revenue of LKR 15.64 billion in the quarter ended 30th June 2026 of FY2026/27, representing a marginal 1% year-on-year decline. The muted performance was primarily driven by lower sales volumes, continued pricing pressure from key customers and subdued demand across key markets. In addition, geopolitical disruptions, including the Strait of Hormuz…
Tilko Blue Ocean Holdings (Pvt) Ltd. marks a significant investment milestone with the signing of an Agreement with the Board of Investment of Sri Lanka (BOI) for Yarl Royal Palace, Jaffna — a landmark development envisioned to become the tallest residential landmark in Northern Sri Lanka and establish a new benchmark for premium urban living…
Government approval moderates as economic outlook weakens: Mood of the Nation poll In the latest July 2026 round of the Gallup-style ‘Mood of the Nation’ poll conducted by Verité Research, the government’s approval rating moderated to 50%, following a post-election high of 65% in the previous February 2026 round. The polling partner was Vanguard Survey…
1H 2026 Revenue: Rs 95.5Bn, up 9% YTD 1H 2026 EBITDA: Rs 50Bn, up 23% YTD, EBITDA Margin of 52.3% for 1H, up 6.0pp YoY 1H 2026 NPAT: Rs 19.3Bn, up >+100% YTD Taxes Paid to GoSL: Rs 30.9Bn (Rs 8.1Bn in Direct, Rs 22.8Bn Indirect) Investment in Digital Infrastructure: Rs 18.5Bn; Operating Free Cash…
With the objective of further strengthening the cooperation between Sri Lanka and Japan in the fields of digital transformation and artificial intelligence (AI), a special discussion was held today (14) at the Ministry of Digital Economy between Eng. Eranga Weeraratne, Deputy Minister of Digital Economy, and a delegation led by Mr. Hara Shohei, Senior Vice…
The Commissioner General of Inland Revenue has officially announced a delay in the mandatory implementation of the revised Value Added Tax (VAT) invoice format, according to a newly released government notification. By virtue of the powers vested under Section 20 of the Value Added Tax Act, No. 14 of 2002, Commissioner General Rukdevi Perpetua Himali…
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