JKH tops Business Today Top Twenty
Business Today Top Twenty recognised the best among the best in
corporate Sri Lanka for the financial year 2009-2010.
The ceremony held yesterday at the Hilton Colombo acknowledged 20
outstanding companies that have displayed exceptional performance in
corporate Sri Lanka during the year.
Economic Development Minister Basil Rajapaksa and Mrs Pushpa
Rajapaksa graced the event while Secretary to the President Lalith
Weeratunga was the guest speaker.
Business Today, this year decided to expand its top corporate
performers list to recognise the Top Twenty.
Since the launch of the Business Today TOP 10, it is the first time
that the Business Today top performers of corporate Sri Lanka were
chosen in a period falling within the post-war era.
It is the contention of Business Today that although it may be
premature to measure post-war performance of the corporate sector, the
initial signs thus far show promise, and it would be interesting to
watch how future top performers would evolve to occupy positions among
the best. Over the twelve-year period of the Business Today TOP 10
awards, the positions have been secured by the same corporates giving
little space for upcoming companies. Thus with the expansion of the top
corporate list, Business Today Top Twenty presented a clearer benchmark
of the topmost corporates in Sri Lanka further reflecting the dynamism
in the private sector.
John Keells Holdings escalated to the number one spot from number
three ranking last year this year. Transport was the main contributor to
the Group’s after tax profits, contributing 41 percent. Operation of the
South Asia Gateway Terminals at the Colombo Port was the main driving
factor for JKH.
JKH Chairman
Susantha Ratnayake |
Hatton National Bank and Bukit Darah secured the second and third
positions respectively. Overcoming both external and internal hardships
the Hatton National Bank recorded a 35 percent growth in profit after
tax and posted Rs 4.3 billion of profit after tax.
Bukit Darah’s consolidated profit after tax had increased to 158
percent.
The Ceylon Tobacco Company ranked fourth while Commercial Bank of
Ceylon secured the fifth spot. The Colombo Dockyard was placed sixth,
Sri Lanka Telecom at seven while DFCC Bank secured the eighth position.
Completing the top ten were Hayleys at ninth and Distilleries Company of
Sri Lanka at tenth positions.
The ranking continues with NDB Bank at 11, Sampath Bank -12, Aitken
Spence -13, Cargills (Ceylon)- 14, Lankem Ceylon - 15, Lanka Orix
Leasing Company - 15, Chevron Lubricants Lanka - 16, Nestle Lanka - 16,
Tokyo Cement Company (Lanka) - 17, Diesel and Motor Engineering - 18,
Seylan Bank - 19 and Lanka Walltile -20.
The Business Today TOP TWENTY companies have been selected out of
public quoted companies on the basis of their financial performance,
during the financial year ending December 31, 2009 or March 31, 2010.
Business Today, since 1998 has annually recognized the top corporate
performers in Sri Lanka. |