Vallibel One gets new CEO

Diversified blue chip Vallibel One Plc has announced the appointment of Yogadinusha Bhaskaran as its Chief Executive Officer.

The company also announced that Nimal Perera has relinquished the office of Executive Deputy Chairman but will continue as the Deputy Chairman.

Bhaskaran is a qualified financial and accounting professional and presently serves on the Boards of Delmege Group, which comes under Vallibel One, controlling shareholder of which is business leader Dhammika Perera.

She has previously worked as the financial controller of several Australian companies for a number of years. She has in the past served as the Assistant General Manager (Finance and Planning) at the Pan Asia Banking Corporation Plc. She is a Fellow of the Chartered Institute of Management Accountants UK (FCMA), Fellow of CPA Australia (FCPA) and an Associate Member of the Institute of Bankers Sri Lanka.

Vallibel Group has assets worth Rs. 143 billion as at 31 December 2015 up from Rs. 129.5 billion as at 31 March 2015.

In the first nine months of FY2016, Vallibel Group revenue grew by 10% to Rs. 35 billion whilst Gross Profit rose by 21% to Rs. 15.3 billion. Results from operating activities grew by 47% to Rs. 7.8 billion. Profit before tax rose by 61% to Rs. 7.8 billion and after tax profit was Rs. 5.37 billion, up by 60%. Net profit attributable to equity holders of the parent was Rs. 2.92 billion, up by 56% from the first nine months of 2015 financial year.

The Board of Directors of Vallibel One Plc comprises Dhammika Perera (Chairman and Managing Director), Nimal Perera (Deputy Chairman), Harsha Amarasekera, Sumith Adhihetty, Kimarli Fernando and Rajan Asirwatham.