Hayleys takes top spot in LMD 100 rankings

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

In the battle for supremacy of Sri Lanka’s two premier diversified holdings, Hayleys takes the No. 1 spot from John Keells Holdings (JKH) in Sri Lanka’s pioneering listed company rankings for 2016/17.

With a top line in excess of Rs. 111 billion, reflecting a revenue upside of Rs. 19 billion (21%) compared to the prior year, Hayleys nudged ahead of JKH. The latter reported a consolidated turnover surpassing Rs. 106 billion for the year.

Hayleys has occupied the top slot in the LMD 100 on three previous occasions whereas JKH has dominated Sri Lanka’s version of the Fortune 500 over the years – it has been numero uno on 13 occasions in the past, including winning the grand prize in eight of the first 10 years of LMD’s listed company rankings, which were launched back in 1994. Media Services also reveals that there have been more changes to the top order, with 

HNB taking third place followed by Commercial Bank and LOLC, which has shot up by six spots to enter the top 10. HNB also climbed six notches up the LMD 100 leader board to take its place among the movers and shakers of 2016/17.

Dialog, CT Holdings, Cargills, Lanka IOC and SLT round off the LMD 100’s top 10.

A spokesperson for Media Services says that the 100-strong corporate rankings reflect the fact that “the island’s largest conglomerates as well as banks, finance companies and insurance firms continue to be the leading lights among the leading listed entities in this country.”

Along with the nation’s premier listed company rankings, the annual LMD 100 special edition will cover the economy and performance of the top 10 in the period since the end of the 2016/17 financial year. It will also feature a series of interviews with the luminaries of this year’s LMD 100.

Media Services, the publisher of leading business magazine LMD, says the LMD 100 special edition will be released in December.