Susantha Ratnayake ends 4 decade-stint at JKH

Wednesday, 2 January 2019 00:05 - - {{hitsCtrl.values.hits}}

Business leader Susantha Ratnayake yesterday ended his four-decade long stint at Sri Lanka’s premier blue chip John Keells Holdings (JKH).

Susantha Ratnayake

Ratnayake was appointed to the Board in the 1992/93 Financial Year and was appointed as the Chairman and CEO in January 2006.

During his 12 year tenure as Chairman, JKH saw exponential growth. Group revenue rose from Rs. 23 billion in FY2005/6 to Rs. 121 billion in FY2017/18. Pre-tax profit grew from Rs. 3.5 billion to Rs. 27.6 billion, and net profit attributable to equity holders of parent from Rs. 3 billion to Rs. 21 billion. Revenue reserves expanded from Rs. 10 billion to Rs. 87 billion. JKH Group assets as at 30 September 2018 amounted to Rs. 341 billion.

Having joined JKH in 1978 as a trainee in Mackinnon’s Travels and becoming a Manager later on.

The first company he ran within JKH Group was Mack Air, the airline GSA company in 1986, as a Director. Thereafter, he took over some of the other Transport Sector companies handling freight forwarding, and shipping. In 1992, when John Keells restructured itself into sectors, Ratnayake headed the Transport Sector and the Domestic and International Trade Sector.

Among some of the positions Ratnayake held were Chairman, Ceylon Chamber of Commerce, the Employers Federation of Ceylon and the Sri Lanka Tea Board.