Business Today Top 25 recognises high performers of private sector
Thursday, 7 November 2013 00:45
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Four years have elapsed since the conclusion of the conflict and Sri Lanka is making steady progress with the private sector playing a crucial role in the economic growth of the country.
The Business Today Top 25 on Tuesday recognised and commended the top corporate performers of Sri Lanka for the financial year 2012-2013, where differentiation and consolidation underlined the growth strategies of many companies.
The Chief Guest at the occasion was Nimal Siripala de Silva, Leader of the House and Minister of Irrigation and Water Resource Management while the Guest of Honour was Ranil Wickremesinghe, Leader of the Opposition.
The event was attended by many distinguished guests and invitees including prominent politicians, corporate leaders, foreign dignitaries, diplomats, military and policymakers of Sri Lanka.
Nimal Siripala de Silva, Ranil Wickremesinghe and Governor of Central Bank of Sri Lanka Ajith Nivard Cabraal addressed the gathering during the award ceremony.
The number one position of Business Today Top 25 was yet again claimed by John Keells Holdings, thus establishing its place as the leader of the corporate sector of Sri Lanka. The company recorded total revenue of Rs. 85.56 billion, a growth of 10% from the previous year, which was attributed to a combination of increased performance in the transportation, leisure and consumer foods and retail sectors.
The second and third positions of the rankings were obtained by Commercial Bank of Ceylon and Bukit Darah respectively. Becoming the first bank in Sri Lanka to cross the Rs. 500 billion mark, Commercial Bank recorded total assets of Rs. 512 billion while PAT grew by 28% to record an all-time high of Rs. 10.098 billion. Bukit Darah recorded a 15% increase in total revenue recording Rs. 76.1 billion while PAT reduced by 28% to record Rs. 9.6 billion.
Ceylon Tobacco Company came next in the rankings taking the number four position while Hatton National Bank, Dialog Axiata, Sampath Bank, National Development Bank, Distilleries Company of Sri Lanka and Sri Lanka Telecom rounded up the top 10 companies of Business Today Top 25 respectively.
The ranking continues with Aitken Spence at 11, Hayleys – 12, Nestlé Lanka – 13, DFCC Bank – 14, CT Holdings – 15, Central Finance Company – 16, LOLC – 17, People’s Leasing & Finance – 18, Lanka IOC – 19, Vallibel One – 20, Chevron Lubricants Lanka – 21, Richard Pieris & Company – 22, Ceylinco Insurance – 23, Seylan Bank – 24 and United Motors Lanka at number 25.
The Business Today Top 25 companies were selected on the basis of their financial performance during the financial year ending 31 December 2012 and 31 March 2013. The Business Today Top 25 is strictly based on the published information of companies listed on the Colombo Stock Exchange.
As revenue alone does not give a clear indication of the performance of a company, several established financial criteria were considered. These criteria were share turnover, revenue, profit after tax, growth in sales turnover, growth in profit, return on equity, growth in earnings per share, market capitalisation, value of shares transacted and value addition.
Since 1998, Business Today has recognised and awarded top corporate performers annually, acknowledging their role in furthering the economic development of Sri Lanka.
