Business Today Top Twenty recognised the best among the best in corporate Sri Lanka for the financial year 2009-2010.
The ceremony held yesterday at the Hilton Colombo acknowledged 20 outstanding companies that have displayed exceptional performance in corporate Sri Lanka during the year.
Economic Development Minister Basil Rajapaksa and Mrs Pushpa Rajapaksa graced the event while Secretary to the President Lalith Weeratunga was the guest speaker.
Business Today, this year decided to expand its top corporate performers list to recognise the Top Twenty.
Since the launch of the Business Today TOP 10, it is the first time that the Business Today top performers of corporate Sri Lanka were chosen in a period falling within the post-war era.
It is the contention of Business Today that although it may be premature to measure post-war performance of the corporate sector, the initial signs thus far show promise, and it would be interesting to watch how future top performers would evolve to occupy positions among the best. Over the twelve-year period of the Business Today TOP 10 awards, the positions have been secured by the same corporates giving little space for upcoming companies. Thus with the expansion of the top corporate list, Business Today Top Twenty presented a clearer benchmark of the topmost corporates in Sri Lanka further reflecting the dynamism in the private sector.
John Keells Holdings escalated to the number one spot from number three ranking last year this year. Transport was the main contributor to the Group’s after tax profits, contributing 41 percent. Operation of the South Asia Gateway Terminals at the Colombo Port was the main driving factor for JKH.
Hatton National Bank and Bukit Darah secured the second and third positions respectively. Overcoming both external and internal hardships the Hatton National Bank recorded a 35 percent growth in profit after tax and posted Rs 4.3 billion of profit after tax.
Bukit Darah’s consolidated profit after tax had increased to 158 percent.
The Ceylon Tobacco Company ranked fourth while Commercial Bank of Ceylon secured the fifth spot. The Colombo Dockyard was placed sixth, Sri Lanka Telecom at seven while DFCC Bank secured the eighth position. Completing the top ten were Hayleys at ninth and Distilleries Company of Sri Lanka at tenth positions.
The ranking continues with NDB Bank at 11, Sampath Bank -12, Aitken Spence -13, Cargills (Ceylon)- 14, Lankem Ceylon - 15, Lanka Orix Leasing Company - 15, Chevron Lubricants Lanka - 16, Nestle Lanka - 16, Tokyo Cement Company (Lanka) - 17, Diesel and Motor Engineering - 18, Seylan Bank - 19 and Lanka Walltile -20.
The Business Today TOP TWENTY companies have been selected out of public quoted companies on the basis of their financial performance, during the financial year ending December 31, 2009 or March 31, 2010.
Business Today, since 1998 has annually recognized the top corporate performers in Sri Lanka.
source - www.dailynews.lk
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