The Group witnessed a strong recovery momentum during the year under review with the recurring performance of most of our businesses reaching pre-COVID-19 levels. Group revenue increased by 71 per cent to Rs.218.07 billion while recurring Group EBITDA increased by 152 per cent to Rs.39.26 billion. The significant growth in profits was driven by the…
By Bhathiya Bulumulla With the recent celebration of International Tea Day, producers, brands and marketers across the globe are joining together to promote sustainable production while raising awareness as to the benefits and impact of this miraculous beverage. However, the contemporary story of tea, cannot be told without speaking of the story of Pure Ceylon…
Sri Lanka’s Export Performance in April 2022 Earnings from the merchandise exports increased by 11.87% y-o-y to US$ 915.3 Mn in April 2022, the highest monthly value recorded for the month of April. This was mainly due to the increase in earnings from export of Apparel & Textiles, Coconut based products and Rubber based products….
The debt-ridden state-owned airline, which loses LKR 99 million a day, is a burden that the country can no longer afford. COLOMBO, Sri Lanka— SriLankan Airlines is one of the four largest loss making state-owned enterprises (SOEs) in the country. The financial performance of State-Owned Enterprises (SOEs) has placed a heavy burden on public finances…
A high-level delegation representing the Palm Oil Industry Association of Sri Lanka (POIASL), recently met with India’s High Commissioner to Sri Lanka, His Excellency, Gopal Baglay. The meeting took place at Indian House where a productive meeting and discussion ensued. The POIASL discussed the progress made with regard to oil palm industry in Sri Lanka,…
The Colombo Tea Traders’ Association (CTTA), which comprises all tea industry stakeholders, namely the growers, manufacturers, Plantation company estates, brokers, and exporters, views with deep concern the prevailing situation facing the nation. The recent events which took place in the aftermath of the island-wide protests have only aggravated the position with disruptions to the normal…
Analysis by Ruth Pollard | Bloomberg High school teacher S. Jeeva has spent two days in the baking sun lining up for cooking gas in the north of Sri Lanka’s capital. He’s been standing with thousands of others waiting for a delivery that, so far, hasn’t come. Meanwhile, many of his students, who will sit…
The Committee on Public Finance, chaired by Hon. Anura Priyadarshana Yapa, Member of Parliament, last week (19) decided to summon the Governor of the Central Bank, the Secretary to the Ministry of Finance and other officials to the Committee on Finance this week to discuss the current economic crisis and the solutions. Further, the Import…
Emirates and Dilmah Tea have enjoyed a longstanding partnership of brewing the finest teas on board and in Emirates’ airport lounges around the world for the past 30 years. To mark the milestone on International Tea Day, all Emirates’ customers will get a special tea box when they fly from Dubai on Saturday. In addition,…
The Chairman of the Colombo Stock Exchange (CSE) Dumith Fernando who has served in this role since July 01, 2020, has informed the Board of his intention to retire by rotation on June 23, 2022 at the conclusion of his current term as a Director. Subsequently, at its regular monthly board meeting held on May…
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