Hayleys retains prime position in 25th edition of LMD 100 | Sunday Observer

Hayleys retains prime position in 25th edition of LMD 100

Mohan Pandithage
Mohan Pandithage

For the third consecutive year, Hayleys PLC was ranked number one on the LMD Top 100.

The prime position in the rankings was again awarded to Hayleys in recognition of the unprecedented top-line growth, and the group’s resilient performance during the financial year 2017/18 (FY18). Notably, this was also the sixth instant in which Hayleys PLC topped the LMD 100 ranking since its inception.

Considered among the country’s most innovative producers of value-added exports, the group continues to serve as a lynchpin of the national economy. In FY18, this legacy culminated in Hayleys becoming the first Sri Lankan listed corporate entity to cross turnover in excess of US$ 1 billion coinciding with its 140th-anniversary celebrations.

“Despite major challenges – particularly post-Easter attacks – Hayleys PLC has shown exemplary leadership by investing over Rs.2.3 billion over the last year across the group in the expansion of its operational and manufacturing capacities, with several of our subsidiaries serving as champions of value-added exports across the globe,” Hayleys PLC Chairman and Chief Executive, Mohan Pandithage said.

“The Hayleys Group with a well-established reputation for innovation and value addition has helped it’s businesses to overcome many different challenges, and carve out a space for Sri Lankan products and services in global markets.

“Moving forward, the group will now leverage our strong presence in all regions of the country to help drive all of our businesses, and the Sri Lankan economy as a whole into a new era of growth, facilitated by strategic investments into technology and digitisation,” he said.

This marks the sixth occasion that Hayleys has occupied the prime position in Sri Lanka’s version of the Fortune 500.