JFS Holdings records its highest ever net dollar income in FY23

 Vice President Nirmala Dasanayake and Associate Vice President Omesha Madhurangi 

• Diversified entity gearing up for over Rs. 100 m capital infusion 

Amidst the ongoing economic difficulties in Europe, JFS Holdings Ltd., said it has achieved a remarkable feat by recording its highest-ever net USD income for the fiscal year 2022/23. 

Despite the recession, the company’s impressive growth rate of 93% stands as a testament to its commitment to excellence and adaptability in the ever-changing business world.

JFS was recognised at the National Export Awards last year for its contribution to the economy with a total Export income which crossed Rs. 39 million. With a growth of 93% over the dollar income this year, total export income passed the Rs. 75 million mark, for the first time in history. 

The BPO sector of the company contributed to the economy with a net dollar income amounting to Rs. 75 million whereas the ICT sector contributed by supplying direct services to ICT exporters amounted to Rs. 125 million in the FY 2022/23. 

Established in 2012 as an HR service provider, JFS has swiftly evolved into a diverse business entity in Sri Lanka. The company’s strong presence is built on its strategic focus on four key sectors: BPO, ICT, Extreme Sports, and Agro-Food. Operating through eight distinctive brands across these sectors, JFS has expertise across these fast-growing industries.

The driving force behind JFS’s success is its dedicated workforce and forward-thinking leadership. Despite challenges over the past decade, the company has not only survived but thrived, experiencing exponential growth. The four consecutive awards that JFS received last year for its exceptional performance, including the Silver Award in the Medium Service category at the National Export Awards, serve as strong evidence of its excellence. 

During the same fiscal year, JFS was able to successfully provide ICT services through its brand; “CodeOne-X” to the European Union through a direct exporter.  With a team of over 100 skilled individuals, JFS’s journey highlights its resilience, innovation, and unwavering dedication to progress.

Aligned with its strategic vision to become Sri Lanka’s leading conglomerate, JFS is gearing up for a capital infusion of over Rs. 100 million in the near future. 

JFS Chairperson Madhushan Raigamage expressed immense pride in reaching this significant milestone. Expressing his thoughts, he said: “It’s really something special to see how we have managed to overcome the tough times and this achievement truly reflects our strong commitment and ability to adapt,” Raigamage said. 

JFS Holdings is globally recognised for its comprehensive business process outsourcing and ICT services under the brands; “SourceOne,” “JobFactory,” and “CodeOneX.” “SourceOne” has gained valuable insights over the past seven years, aiding organisations in modernising staff management, automating non-core tasks, and managing risks. 

The startup brand of JFS; “JobFactory” is now a prominent name in executive search and holds a license from the Sri Lanka Bureau of Foreign Employment for overseas executive transfers. 

In the realm of ICT, “CodeOne-X” of JFS is a noteworthy brand. As an active member of SLASSCOM, JFS is committed to constant improvement and excellence across its pursuits. Over the past four years, “CodeOne-X” has consistently expanded, attracting new installations, forming partnerships, and exploring investment opportunities. 

As a diversified company, JFS Holdings Ltd. said it has solidified its position as a pivotal player in Sri Lanka’s ICT/BPO industry. Its journey from inception up to now is remarkable and is confident in its ability to overcome challenges in the future and emerge as a leading business entity in Sri Lanka and beyond.