Company filings and market news from across Sri Lanka's stock market.
Speakers at a Sri Lanka–Italy forum recommended targeting mid-to-high-range Italian tourists (age 40–69) as the key demographic to grow arrivals from Italy, which contributed just 39,000 visitors to Sri Lanka in 2024; digital marketing and combined Sri Lanka–Maldives itineraries were highlighted.
Cinnamon Hotels & Resorts has appointed AVIAREPS India to lead its PR and brand positioning in India to attract luxury and experiential travellers, while expanding its portfolio (including Cinnamon Life and new Kandy Myst) amid Sri Lanka's tourism recovery.
Sri Lanka Tourism launched the 'Sri Lanka, A Story for Every Season' influencer-driven campaign to boost summer travel, targeting 2.2 million travel enthusiasts and over LKR 32 million in media coverage. The campaign follows a strong winter peak with 665,295 arrivals by March 23, 2025.
Sri Lanka Agripreneurs Forum hosted a workshop on carbon footprint and climate reporting as SLFRS S1 and S2 have become mandatory for listed companies in Sri Lanka; the event covered emissions measurement, reporting practices and trends in climate finance.
The Lanka India Business Association (LIBA) was launched in Sri Lanka to strengthen business links with India, aiming to boost trade, tourism, tech/start‑ups and exports (including tea and garments). The governing council comprises senior Sri Lankan business leaders from multiple industries.
Sri Lanka Agripreneurs Forum held a workshop on carbon footprint and climate reporting, highlighting that SLFRS S1 and S2 are now mandatory for listed Sri Lankan companies. Experts shared practical guidance on emissions calculations, climate finance and sustainability reporting, and SLAF will expand the series.
Conservation International CEO Dr. M. Sanjayan said Sri Lanka has huge potential to offer the world due to its biodiversity and can align development with conservation. His remarks were made at a 'Create the Future' event co-hosted by Academics Group and JKH Group.
Aloe Blacc arrived in Colombo for a two-day visit and said he is prepared to invest in Sri Lanka, including the tourism sector. He will meet government officials, entrepreneurs in cashew, coconut, organic goods, energy drinks and Ceylon cinnamon, and engage with biotechnology and investment stakeholders.
Colombo market opened March down with ASPI -1.9% and S&P SL20 -2.1%, turnover Rs.1.5bn; profit-taking in banks (led by HNB, COMB, NDB) drove the fall while CTC, SPEN and AHUN were among top positive contributors; foreigners net sold Rs.127.4m.
The ASPI rose 0.5% to 16,431 on low turnover of Rs.1.6 billion as bargain buying and month‑end flows supported a symbolic rebound; CINS, LOLC and COMB were top positive contributors while MELS and CFVF were among the main detractors.
ACCA Sustainability Reporting Awards 2024 named Hayleys PLC overall winner and Commercial Bank of Ceylon PLC overall runner-up. Listed firms recognised in sector categories included Talawakelle Tea Estates, Horana Plantations, Ceylon Cold Stores, Commercial Bank, Sampath Bank, Citizens Development Business Finance, Resus Energy, Hayleys Fabric, Haycarb, Diesel & Motor Engineering, JAT Holdings and Aitken Spence Hotels.
Aitken Spence PLC held its first flagship Disaster Risk Reduction programme and launched a public Disaster Impact Map on its website to boost resilience to landslides, floods, tsunamis, droughts and earthquakes. The event featured government and World Bank guests and aimed to integrate DRR into business strategy.
President Dissanayake said Budget 2025 aims to raise government revenue to 15.1% of GDP and use a three-year debt moratorium under the IMF program to restore debt repayment capacity by 2028. The budget highlights tourism promotion, a port‑centric transshipment hub and rural SME development, measures likely to benefit listed hotels.
Aitken Spence PLC reported PBT of Rs.4.3bn for the nine months to 31 Dec 2024, up 124%. PBT excluding forex was Rs.4.9bn; tourism, maritime & freight (PBT Rs.3.3bn) and renewable/waste-to-energy performance were key drivers while a lower exchange rate materially affected results.
Aitken Spence PLC reported PBT of Rs. 4.3 Bn, a 124% increase for the nine months ended 31 Dec 2024. Group revenue rose 3% to Rs. 76.3 Bn and EBITDA (ex-forex) was Rs. 16 Bn, with tourism, maritime/logistics and renewable energy driving gains amid weaker exchange rates.
Cinnamon Hotels & Resorts has opened Kandy Myst by Cinnamon on Feb 12, 2025 — a USD 40 million, 215-room hotel, the largest room inventory in Kandy. The property features a 500-seat buffet restaurant, Kosmos Skybar with infinity pool and Terra Lounge.
Hasitha Jayawardena has been appointed Chairman of Melstacorp PLC, Distilleries Company of Sri Lanka PLC and Madulsima Plantations; Stasshani Jayawardena was appointed Chairperson of Aitken Spence Hotel Holdings PLC and named Deputy Chairperson of Lanka Milk Foods (CWE) PLC. Both continue to hold or assume directorships across the group.
Colombo Stock Exchange closed higher: ASPI +1.38% to 16,734 and S&P SL20 +1.48% to 4,996, with turnover Rs2bn and net foreign outflow Rs75mn. Top contributors included Ceylinco Holdings, Melstacorp and Commercial Bank; several chairperson appointments were made following Harry Jayawardena's death.
Aitken Spence PLC appointed D S T (Stasshani) Jayawardena as Chairperson and M R Mihular as Senior Independent Director. Jayawardena is an executive director with leadership roles across the group and holds positions at Aitken Spence Hotel Holdings, Melstacorp, Distilleries and Lanka Milk Foods.
Stasshani Jayawardena has been appointed chairperson of Aitken Spence and will chair group companies including Aitken Spence Hotel Holdings, the company said in a stock exchange filing. She is also a director of Melstacorp, Distilleries Company of Sri Lanka and Lanka Milk Foods.
Aitken Spence Hotels (Heritance) hosted the opening night of the 12th Galle Literary Festival, which is expected to attract over 5,000 visitors to Galle Fort. The company says the partnership is aimed at brand alignment and heritage promotion rather than direct hotel bookings.
Aitken Spence Hotel Holdings' Heritance Hotels and Resorts will be the exclusive sponsor of the Galle Literary Festival 2025 opening night on 5 February. The partnership, announced by AHUN, highlights its cultural-promotion focus and will feature a curated culinary experience by Heritance Ahungalla.
Aitken Spence Hotel Holdings PLC won seven awards at the Sri Lanka Tourism Awards 2024, the highest number by any company; Aitken Spence companies won ten awards in total.
A session at the Sri Lanka Economic Summit on 29 Jan will focus on 'Maximising Tourism Potential', targeting USD 8.5 billion in tourist earnings by 2030. Panelists include executives from Cinnamon Hotels and Aitken Spence, with Dialog Axiata among event partners.
Aitken Spence PLC's annual report won the Silver award (Diversified Holdings) at the 59th TAGS Awards 2024; Aitken Spence Hotel Holdings PLC won Gold (Hotels) and Elpitiya Plantations PLC won Bronze (Plantations). The companies also received certificate recognitions for governance, sustainability and reporting.