Hayleys retains top spot in LMD 100 rankings

• LOLC and Commercial Bank follow in second and third places respectively

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

Hayleys retains the No. 1 spot in the 26th edition of Sri Lanka’s pioneering listed company rankings for financial year 2018/19. With its consolidated revenue only marginally below Rs. 220 billion, the conglomerate secured top spot for the third consecutive year on the back of a 34% hike in turnover compared to 2017/18.

This marks the sixth occasion that Hayleys has occupied the prime position in Sri Lanka’s version of the Fortune 500.

LOLC holds on to its second place on the podium with a top line of Rs. 178 billion while last year’s second runner-up John Keells Holdings drops to fifth place despite an increase in revenue of 12% – the highly-regarded blue chip has occupied the No. 1 spot on 13 previous occasions over the years.

The other listed entities in the top five are Commercial Bank and Hatton National Bank, which are placed third and fourth respectively. Sampath Bank retains the No. 6 slot, followed by Dialog Axiata, Melstacorp, Carson Cumberbatch and Bukit Darah to round off the LMD 100’s top 10.

A spokesperson for Media Services says the 100-strong rankings “reaffirm that Sri Lanka’s largest conglomerates and leading banks continue to lead the way for listed entities in this country.”

In addition to the listed company rankings, the annual LMD 100 special edition will carry commentaries on the economy and performance of the top 10 for financial year 2018/19. It will also feature a series of interviews with some of the LMD 100’s high achievers.

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