News & market updates

Sri Lanka's All Share Price Index rose 0.31% to 22,163.23 while the S&P SL20 gained 0.07% to 6,191.54. Top contributors were Lion Brewery, Aitken Spence, Melstacorp, Ceylon Beverage and Sampath Bank; L B Finance filed to raise up to Rs20bn via senior and subordinated debentures.

Aitken Spence Logistics (part of Aitken Spence PLC) won the Sustainability Award and was Runner-up in Market Segment Customer Service at the CILT Awards 2025. The wins recognize its green-growth initiative and customer-service ‘One-Stop-Shop’ solutions driven by technology.

Aitken Spence PLC's travel arm won South Asia's Best Inbound Travel Agent and Best Cruise Travel Agent at the 9th South Asian Travel Awards, its third consecutive win in those categories.

The late Deshamanya Harry Jayawardena was posthumously awarded the 'Faces of South Asia' recognition at the South Asian Travel Awards 2025; his daughter Stasshani Jayawardena, Chairperson of Aitken Spence PLC and Aitken Spence Hotel Holdings PLC, accepted the honour on his behalf.

Colombo market ended the week at a new high as the ASPI rose 2.29% to 21,085.09 (SL20 up 2.09% to 5,996.16); JKH, Hayleys, Sierra Cables, Melstacorp and Aitken Spence were the top positive contributors to the rally.

Colombo Stock Exchange rose as the ASPI gained 0.57% to 21,085, led by Sierra Cables and diversified conglomerates; market turnover was Rs 6.5bn with Sierra Cables contributing Rs 1.2bn. Top index contributors included John Keells, Hayleys, Sierra Cables, Melstacorp and Aitken Spence; net foreign inflow was Rs 58.21m.

Ten corporates, including SPEN.N0000, LOLC.N0000, CARS.N0000, SUN.N0000, PKME.N0000 and DIMO.N0000, sponsored the Daily FT-CICRA 11th Annual Cyber Security Summit to provide cybersecurity training to over 100 state university students.

The Sri Lanka–Singapore Business Council elected Janaka Gunasekera (A. Baur & Co.) as President for 2025–26 at its 28th AGM and confirmed a new executive committee. Overseas Realty GM Nirupa Peiris was elected Vice President, Aitken Spence's Jerome Brohier Treasurer, and the committee includes CIC Holdings and Ceylon Grain Elevators.

Colombo market rebounded as the ASPI rose 264 points (1.3%) and the S&P SL20 gained 1.2% on turnover of Rs.6.2bn. Banks and hotel counters led gains (COMB, SAMP, HNB, SPEN, DFCC), capital goods and utilities drove turnover, while foreigners were net sellers of Rs.270.8m.

Colombo Stock Exchange closed higher as the ASPI rose 1.30% to 20,619 with turnover of Rs 6.21bn, led by gains in banks and capital goods. Key risers included Commercial Bank, Sampath Bank, HNB, Aitken Spence, DFCC and active trading in Sierra Cables.

Aitken Spence Hotel Holdings PLC's Heritance Kandalama won Gold in the Climate Adaptation and Resilience category at the ICRT Indian Subcontinent Responsible Tourism Awards 2025. The award recognises the resort's sustainability initiatives and makes it eligible for the Global Responsible Tourism Awards.

Sri Lanka's planned nation-branding global tourism marketing campaign has been delayed and is unlikely to materialise this year, with officials saying approvals and fresh tenders will push the campaign at least a year out; industry leaders warn the delay risks losing arrivals and revenue.

Aitken Spence Travels MD Nalin Jayasundera urged a strong, consistent global marketing campaign to reach 5 million arrivals and $10 billion in tourism revenue by 2030. The German-Sri Lanka forum highlighted Germany as a key source market and promoted year-round tourism and wellness as growth opportunities.

The Colombo market closed with the ASPI at 20,992, up 16 points, on turnover of Rs.5.6 billion; weekly ASPI and S&P SL20 fell 0.03% and 1.19% respectively. Property, capital-goods and consumer services stocks led turnover while select hotels and developers saw mixed flows and sizable corporate stake transactions were reported.

The Sri Lanka–Japan Business Council held its 46th AGM and elected Athulla R F Edirisinghe as President for 2025/26, with Japan's Ambassador urging restored investor confidence and steady implementation of Japan-assisted mega projects including the BIA expansion.

Aitken Spence PLC's elevator arm signed an MoU with Rush Housing to supply nine OTIS Gen2 machine-room-less elevators for five residential projects in Colombo District. The units will be manufactured at OTIS's Hangzhou facility and follow prior collaborations (15+ units sold).

Aitken Spence PLC's elevator unit signed an MoU with Rush Housing to supply nine OTIS Gen2 machine room-less elevators for five residential projects in Colombo. The units will be manufactured at OTIS's Hangzhou facility and build on prior collaborations (15+ units sold).

Aitken Spence PLC and Aitken Spence Hotel Holdings (Heritance Hotels) are partnering with the CCC Foundation on the 1333 Bikeathon to raise mental health awareness and promote the 1333 helpline, providing accommodation at Heritance properties along the route.

The Sri Lanka–Maldives Business Council held its 17th AGM and Maldives Business Forum, generating about $60–70m in potential investments including several hotel projects; Aitken Spence and John Keells executives took council leadership roles and Kelani Cables is on the new committee.

The Sri Lanka–Indonesia Business Council held its 2nd AGM; Sunshine Holdings' Vish Govindasamy stepped down and Ceylon Biscuits' Shea Wickramasingha was appointed president for 2025/26. The council highlighted trade ties and upcoming Trade Expo Indonesia 2025, with committee representation from Dilmah, hSenid, Aitken Spence and Amana Bank.

The Sri Lanka–Maldives Business Council concluded its 17th AGM and led a Maldives Business Forum that secured about $60–70m in potential investments, including three new hotel projects and a 100-room luxury mountain hotel. Sanjeewa Perera was appointed Council President and Aitken Spence’s Suranga Ratnayake was named Senior Vice President.

The Sri Lanka-Australia-New Zealand Business Council held its 30th AGM on 7 July, electing Chandana Amaradasa as President and hosting a panel on “Accelerating Sri Lanka’s Digital Economy,” highlighting SME market access, tourism investment and export diversification.

The SLANZBC held its 30th AGM on 7 July 2025; Chandana Amaradasa was elected President and a panel discussed accelerating Sri Lanka's digital economy, emphasising tourism, SME market access, export diversification and digitalisation.

Aitken Spence PLC recorded EBITDA of Rs. 4.1 billion for Q1 ended 30 June 2025, up 7% YoY. Group PBT rose 74% to Rs. 1.0 billion and PAT climbed 339.6% to Rs. 405.37 million, led by maritime & freight logistics and tourism while Western Power boosted strategic investments.

Aitken Spence PLC reported Q1 EBITDA of Rs. 4.1 billion (up 7% YoY), PBT of Rs. 1.0 billion (up 74%) and PAT of Rs. 405.37 million (up 339.6%). Maritime & Freight Logistics and Tourism led results, while Western Power boosted strategic investments.

Mohamad Hameez was elected President of the Sri Lanka–Canada Business Council for 2025/26. Aitken Spence (via Aitken Spence Travels) and DFCC Bank are among the listed companies represented on the council’s executive committee and subcommittees, which will prioritize tourism, renewable energy and technology collaboration.

The Sri Lanka–Pakistan Business Council held its 33rd AGM and elected Wasantha de Silva as president for 2025/26, with a committee that includes representatives from John Keells Holdings (JKH) and Aitken Spence (SPEN). The council urged boosting tea exports to Pakistan and expanding trade and tourism under the FTA.

Wasantha de Silva of DMW Ventures was elected president of the Sri Lanka–Pakistan Business Council. The new committee includes Malithi Rajapaksha from John Keells Holdings and Chandana Jirasinha from Aitken Spence, and Pakistan's High Commissioner urged increased Sri Lankan tea exports and investment/tourism ties.

Colombo market closed a healthy week: ASPI +2.3%, S&P SL20 +3.1%, average daily turnover Rs.9.88bn and net foreign inflow Rs.373.9m. Key contributors included Central Finance, Hayleys, John Keells, Sampath and Singer; John Keells rose to Rs.25.50 while HNB fell to Rs.358.50 and Seylan (non-voting) rose to Rs.66.30.

Aitken Spence PLC's conventions unit inaugurated the Colombo Shopping Festival – Summer Fair at BMICH on 18 July; the three-day event (18–20 July) drew significant opening-day footfall. The fair offers heavy discounts, 'Happy Hour' deals and daily raffles across fashion, electronics and homeware brands.