Business
Nawaloka Hospitals PLC records exemplary performance amidst tough economic backdrop
Recording a year of commanding financial performance in a challenging economic backdrop, Nawaloka Hospitals PLC, a pioneering force in the private healthcare sector, posted a revenue of Rs. 8.5 billion for the fiscal year 2019/20. While performance in the first quarter of the year was severely hindered due the devastating Easter attacks, progress during the final quarter was impacted by the developing global health crisis.
Profit after tax (PAT) for the year in review was at Rs. 15.9 million, a noteworthy increase in comparison to a net loss of Rs. 587.1 million the previous year, a commendable performance amidst turbulent times. While assets grew 9% to Rs. 17,704 million, the Group recorded a substantial improvement in gross profit margin to 56% from 51% in 2018/19.
Nawaloka Hospital’s remarkable improvement in performance is largely credited to cost-saving measures that were aggressively driven across the organization, expansion of the laboratory network under the strong Nawaloka brand and growth from regional hospitals located in Negombo and Gampaha.
“As we continue to rebound from the adverse impacts brought about by two black swan incidents—the Easter attacks and the developing global health crisis, we are proud that the Group has remained resilient and recorded a commendable growth during an extremely challenging year. Our robust cost management initiatives and process re-engineering efforts backed by digital technologies have helped Nawaloka Hospitals outdo last year’s results and drive strong performance in 2020 while strengthening our position as a premier healthcare specialist in the country.” Nawaloka Hospitals Deputy Chairman Harshith Dharmadasa stated.
As the group celebrates its 35 year legacy at the pinnacle of the Sri Lankan healthcare sector, under the visionary leadership of Dr. Jayantha Dharmadasa, its highly-skilled medical talent and world class infrastructure has enabled it to deliver clinical outcomes that compare with the best institutions in the world at an affordable cost.
The state-of-the-art Nawaloka Specialty Centre, which absorbed a massive capital expenditure of Rs. 6.8 billion during the past two years, has proven to be an opportune investment during this period of contagion. The massive 400,000 square feet centre with a mega multi-storey carpark boasts a strategic combination of advanced medical technology and expert medical care.
Each medical specialty is allocated a designated channel module within the center, offering patients privacy, adequate space to practice social distancing and screening from infection by interacting with patients from other specialties. Pharmacy and laboratory facilities located on each floor restrict mobility within the hospital, further limiting the possibility of cross infection. This well thought out building plan has proven beneficial and a competitive advantage during the COVID-19 pandemic, guaranteeing patient safety in a secure environment.
Further affirming their commitment to quality healthcare and safety standards, Nawaloka Hospitals was recently awarded the Joint Commission International’s (JCI) gold seal of approval for its continued compliance to internationally-recognised healthcare standards. The Nawaloka chain of healthcare facilities continues to adhere to the stringent health guidelines imposed by the Ministry of Health, epidemiology unit and the World Health Organization.
“COVID-19 is reshaping industries including healthcare in ways that are likely to be permanent. Therefore, we will continue to adapt to create shared value for our entire spectrum of stakeholders by continuing to focus on our primary purpose of delivering advanced and sustainable patient-centric healthcare, responsibly in a secure environment. I believe the coming year will lay bare the significant potential in our investments in infrastructure, human resources and processes. Our commitment towards better healthcare in the country continues to grow from strength to strength, enriching the lives of our people as we explore ways to improve our product offering and streamline our services to cater to the evolving needs of our patients,” Dharmadasa continued to state.
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.”
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