JKH and Hayleys helm the LMD 100

Friday, 16 December 2016 00:00 - - {{hitsCtrl.values.hits}}

Sri Lanka’s version of the Fortune 500, the LMD 100, has John Keells Holdings (JKH) and Hayleys grabbing the honours at the top of the pioneering rankings, with the former taking the No. 1 slot by virtue of its Rs. 93.3 billion top line.

The annual special edition notes that JKH was also the most profitable listed company in financial year 2015/16, with its consolidated profit after tax edging ever closer to the Rs. 16 billion mark – which would set a record in the 23-year history of Sri Lanka’s premier listed company rankings.

JKH has taken the No. 1 spot on 12 occasions in the past, and this includes the grand prize in eight of the first 10 years of LMD’s listed company rankings.

Meanwhile, Hayleys has occupied the top slot on three previous occasions.

In third place in the 2015/16 pecking order is Bukit Darah, which is followed by Commercial Bank and Dialog Axiata.

A spokesperson for LMD says that the 100-strong rankings reflect the fact that “the island’s largest conglomerates as well as banks, finance companies and insurance firms are the leading lights among the top listed corporations in this country.”

“Twelve of the top 50 listed corporations reported lower earnings in financial year 2015/16 – that’s two less than the last year. However, in the latest rankings, there were four loss-makers among the 50 leaders, versus the previous year’s count of just two, although a whopping 60 companies (versus 33 in 2014/15) reported double-digit or higher profit upside, the magazine observes.”

In addition to the listed company rankings, the all-encompassing annual edition covers the economy and the performance of the top 10 in the period since the end of the 2015/16 financial year. It also features a series of interviews with the leading lights of this year’s LMD 100.

Media Services, the publisher of leading business magazine LMD, says it has released the LMD 100 special edition.