Expolanka, Hayleys and LOLC retain top billing in LMD 100 rankings

In an exclusive pre-publication release to the Daily FT, the publisher of leading business magazine LMD, Media Services, announced its top 20 line-up in the forthcoming LMD 100 special annual edition.

Expolanka takes the top spot in the 30th edition of Sri Lanka’s pioneering listed company rankings for financial year 2022/23. With a consolidated revenue in excess of Rs. 546 billion, the conglomerate secures the top spot in Sri Lanka’s version of the Fortune 500 for the second time in a row.

Hayleys – which helmed the rankings back in 2020/21, occupies second place on the podium with a top line of Rs. 487 billion while LOLC Holdings retains third place with a consolidated revenue of Rs. 333 billion.

Lanka IOC takes top billing in the profitability rankings with a profit after tax of nearly Rs. 38 billion, followed by Expolanka (Rs. 31 billion). Hayleys’ bottom line of almost 28 billion rupees sees it retain the No. 5 spot in the most profitable listed companies in 2022/23.

A spokesperson for Media Services says the 100-strong rankings “affirm that Sri Lanka’s largest conglomerates, along with the banking sector, remain at the forefront of listed entities.”

“If the results of the top 20 are anything to go by, 2022/23 has been a year of resilience for Sri Lanka’s highly diversified listed entities and a quartet of banks – ComBank, HNB, Sampath and NDB – despite the impact of the economic crisis, which followed the pandemic,” she adds.

In addition to the listed company rankings, the annual LMD 100 special edition will cover the national economy and performance of Sri Lanka’s leading listed companies in financial year 2022/23. It will also feature a series of interviews with a collection of the LMD 100’s high achievers.

Media Services says the LMD 100 special edition will be released in December.

Table

LMD 100 (THE TOP 20) 

1 EXPOLANKA HOLDINGS

2 HAYLEYS

3 LOLC HOLDINGS

4 CARSON CUMBERBATCH

5 BUKIT DARAH

6 LANKA IOC

7 COMMERCIAL BANK 

8 JOHN KEELLS HOLDINGS

9 HNB

10 SAMPATH BANK

11 CT HOLDINGS

12 CARGILLS (CEYLON)

13 DIALOG AXIATA

14 MELSTACORP

15 CEYLON COLD STORES

16 VALLIBEL ONE

17 HEMAS HOLDINGS

18 NDB

19 SRI LANKA TELECOM

20 AITKEN SPENCE