Business
Richard Pieris Group celebrates excellence highlighting achievements and unveils future roadmap
The Richard Pieris Group, led by visionary leader Dr. Sena Yaddehige, has evolved into one of the largest and most diversified conglomerates in Sri Lanka. With a 91-year legacy, the Group operates across multiple sectors. Today, the Group is an integral part of Sri Lankan lives and a catalyst for economic progress.
From a modest beginning of a filling station in 1932, Richard Pieris Group has experienced phenomenal success, growing into one of the top diversified business conglomerates in the country with interests in Retail, Plantations, Rubber, Furniture, Tyres, Plastics, Insurance, Stock brokering, Financial services, and Logistics. It is one of the largest listed entities on the Colombo Stock Exchange. The Group is known for its acclaimed brand identity, Arpico.
Dr. Sena Yaddehige, the Visionary leader driving the Group’s strong foundations, is a prominent businessman, entrepreneur, and Chairman, Managing Director, and CEO of the Group. He is an ingenious scientist, engineer, inventor, and Swiss-based entrepreneur with a remarkable track record. Dr. Yaddehige’s expertise and leadership have been instrumental in the development of the largest automotive sensor business in the UK, leveraging innovative technology and numerous patents. He has also pioneered radiation processing innovations.
Under Dr. Yaddehige’s strategic direction, despite a volatile domestic and global economy in FY2022/23, the Group delivered a resilient financial performance. The Group recorded revenues of LKR 79.1 billion, representing 17% growth, an increase from LKR 67.6 billion in the previous year. Operating profit grew by 9% to LKR 11.7 billion from LKR 10.7 billion.
The Group also maintained a strong financial position, with total assets growing by 3% to LKR 87.5 billion and Shareholder Funds growing by 7.4% to LKR 24.5 billion. In addition, Market Capitalisation was LKR 42.1 billion, up 55.3% from LKR 27.1 billion the previous year. Dividend pay-out ratio increased to 0.29 from 0.18, and dividend per share.
To further acknowledge its exceptional performance and demonstrate its commitment to growth, the Group hosted an exclusive gathering with over 500 attendees, including business leaders and diplomats. The Group also unveiled its strategic roadmap, including its vision for 2024 and beyond.
The Group’s Chairman, Managing Director, and CEO, Dr. Sena Yaddehige, expressed delight, acknowledging the company’s continued growth and resilience. Through the perseverance and passion of the Group’s people, it has emerged stronger during macro-economic storms.
The Delegation of German Industry and Commerce in Sri Lanka (AHK Sri Lanka) proudly facilitated the first-ever Sri Lankan delegation’s participation at Drupa 2024, the world’s largest trade fair for the printing industry and technology. Held after an eight-year hiatus, Drupa 2024 was a landmark event, marking significant advancements and opportunities in the global printing industry.
AHK Sri Lanka played a pivotal role in organising and supporting the delegation, which comprised 17 members from the Sri Lanka Association for Printers (SLAP), representing eight companies from the commercial, newspaper, stationery printing, and packaging industries. This pioneering effort by AHK Sri Lanka not only showcased the diverse capabilities of Sri Lanka’s printing sector but also facilitated vital bilateral discussions with key stakeholders from the German printing industry.
Business
Unveiling Ayugiri: Browns Hotels & Resorts sets the stage for a new era in luxury Ayurveda Wellness
In a captivating reimagining of luxury wellness tourism, Browns Hotels & Resorts proudly unveiled the exquisite Ayugiri Ayurveda Wellness Resort Sigiriya. This momentous occasion, celebrated amidst a vibrant and serene grand opening on the 6th of June, heralds a new chapter in the Ayurveda wellness tourism landscape in Sri Lanka. Nestled amidst 54 acres of unspoiled natural splendour, Ayugiri features 22 exclusive suites and stands out as the only luxury Ayurveda wellness resort in the country offering plunge pools in every room, rendering it truly one-of-a-kind.
The grand opening of Ayugiri Ayurveda Wellness Resort was an enchanting event, where guests were captivated by the melodies of flutists and violinists resonating through Sigiriya’s lush landscapes. As traditional drummers and dancers infused the air with vibrant energy, Browns Hotels & Resorts’ CEO, Eksath Wijeratne, Kotaro Katsuki, Acting Ambassador for the Embassy of Japan and General Manager, Buwaneka Bandara, unveiled the resort’s new logo, marking a significant moment witnessed by distinguished guests from the French Embassy, Ayurveda and wellness enthusiasts along with officials from the Sigiriya area, LOLC Holdings and Browns Group.
“Our strategic expansion into wellness tourism with Ayugiri Ayurveda Wellness Resort Sigiriya symbolises a significant milestone for Browns Hotels & Resorts. Wellness tourism has consistently outperformed the overall tourism industry for over a decade, reflecting a growing global interest in travel that goes beyond leisure to offer rejuvenation and holistic well-being. By integrating the timeless wisdom of Ayurveda with modern luxury, we aim to set a new standard in luxury wellness tourism in Sri Lanka. Whether your goal is prevention, healing, or a deeper connection to inner harmony, Ayugiri offers a sanctuary for holistic well-being” stated Eksath Wijeratne.
Ayugiri encapsulates the essence of life, inspired by the lotus flower held by the graceful queens of the infamous Sigiriya frescoes. Just as the lotus emerges from the murky depths, untainted and serene,
Ayugiri invites guests on a journey of purity and rejuvenation, harmonised with a balance of mind, body and spirit, the essence of nature, echoes of culture and the wisdom of ancient Ayurvedic healing.
HNB General Insurance, one of Sri Lanka’s leading general insurance providers, has been honored as the Best General Bancassurance Provider in Sri Lanka 2024 by the prestigious Global Banking and Finance Review – UK.
The esteemed accolade underscores HNB General Insurance’s unwavering commitment to excellence and its outstanding performance in the field of bancassurance. Through dedication and hard work, the HNB General Insurance team has continuously endeavored to deliver innovative insurance solutions, cultivate strong relationships with banking partners, and provide unparalleled service to customers nationwide. This recognition is a testament to the team’s dedication and relentless pursuit of excellence in the bancassurance business.
“We are honored to receive this prestigious award, which reflects our team’s tireless efforts and dedication to delivering value-added insurance solutions and exceptional service through our bancassurance partnerships,” said Sithumina Jayasundara, CEO of HNB General Insurance. “This recognition reaffirms our position as a trusted insurance provider in Sri Lanka and motivates us to continue striving for excellence in serving our customers and communities.”
US sports envoys to Lanka to champion youth development
Rahuman questions sudden cancellation of leave of CEB employees
