News & market updates

The Sri Lanka–Indonesia Business Council held its 1st AGM where the Indonesian Ambassador noted a 12.76% rise in bilateral trade (Jan–Sep 2024 vs same period 2023). The new council committee includes representatives from Aitken Spence, Amana Bank and hSenid Business Solutions.

Elpitiya Plantations PLC won Bronze in the Plantations sector at the TAGS Awards 2024 and was 2nd Runner-Up at the Best Corporate Citizen Sustainability Awards 2024. It also received recognition for its “Grow to Grow” bamboo biomass project and is managed by Aitken Spence Plantation Managements.

Colombo Stock Exchange closed higher — ASPI +0.11% at 14,516.46 and S&P SL20 +0.80% at 4,384.75, with turnover of 6.35 billion. Top contributors included John Keells, Commercial Bank, NDB, Cargills and Lanka IOC; net foreign inflow was Rs 336 million and there was notable activity in banking, consumer and hotel stocks.

Colombo Stock Exchange closed higher: ASPI rose 2.08% to 14,500 and S&P SL20 rose 2.48% to 4,349 on Dec 16, 2024, with turnover of 8.2 billion. Top turnover generators included Ceylinco, John Keells, Sampath, HNB and Pan Asia; banking stocks rose after the ISB announcement and net foreign inflow was Rs 100 million.

Aitken Spence Shipping Ltd (part of Aitken Spence PLC) hosted the maiden call of cruise M.V. AIDAstella at the Port of Colombo on 11 Dec 2024, arriving with 2,139 passengers and 640 crew. The company said it will continue offering services to cruise operators to boost tourism.

Aitken Spence PLC won the Grand Slam Award as Best Corporate Citizen at the BCCSA 2024, its fifth Grand Slam and 19th consecutive year in the Top 10 Corporate Citizens. The group also received multiple category awards including Diversified Holdings, Supplier Relations and Community Relations.

Elpitiya Plantations PLC appointed Dr. Ravi A. Fernando as an Independent Non-Executive Director effective 1 January 2025. Fernando is a sustainability and consumer-goods executive who also serves on boards including Dilmah Ceylon Tea Company, LOLC Holdings and Aitken Spence.

Aitken Spence PLC won the Grand Slam Award as Best Corporate Citizen 2024 at the Ceylon Chamber of Commerce BCCSA, marking its fifth Grand Slam and 19th consecutive year in the Top 10. The group was recognised across multiple categories including Diversified Holdings, Supplier Relations and Community Relations.

Reyaz Mihular has joined the Board of Aitken Spence PLC as an Independent Non-Executive Director. He was Managing Partner of KPMG Sri Lanka & Maldives (2012–2022) and currently holds board roles at Watawala Plantations, Bairaha Farms, Sunshine and Melstacorp.

Aitken Spence Printing (Aitken Spence PLC) won two Bronze awards in the Digital Printing category at the Asian Packaging Excellence Awards in Ho Chi Minh and the Asian Print Awards in Jakarta, recognising its print quality and innovation.

Asitha Martis of Aitken Spence (SPEN.N0000) was re-elected President at the Sri Lanka–Korea Business Council's 29th AGM, which emphasised strengthening Korea–Sri Lanka trade, tourism and investment ties. The council discussed delegations, start-up collaboration, panel forecasts and a Port City visit to foster joint projects.

Commercial Bank of Ceylon has been named the Official Banking Partner for the 38th Colombo Shopping Festival, running Dec 13–22, 2024 at BMICH. The event is organized by Aitken Spence Conventions & Exhibitions and the partnership will provide on-site banking services and special shopper promotions.

Aitken Spence PLC won the Grand Slam Award at the 21st Best Corporate Citizen Sustainability Awards 2024 after claiming the Best Corporate Citizen Sustainability Award 2024. Multiple other listed firms (including Sampath Bank, Talawakelle, Kelani Valley, Dilmah, Haycarb and others) were also recognised across categories.

Colombo market opened higher as the ASPI rose 0.30% to 13,229 and the S&P SL20 gained 0.12% on turnover of Rs. 2.3bn; top contributors included HAYL, SPEN, AEL, JKH and CFIN, with Lion Brewery closing up at Rs. 1,114.75.

Colombo Stock Exchange ASPI rose 0.30% to 13,228 on turnover of Rs2.3bn, led by retail buying in food, beverage & tobacco and renewed interest in construction. Notable movers included gains in Lion Brewery, Ceylon Cold Stores, Distilleries, Access Engineering and Central Finance, while Sierra Cables fell; net foreign outflow was Rs379mn.

Asitha Martis of Aitken Spence was re-elected President of the Sri Lanka-Korea Business Council as the body pushed initiatives to boost trade, tourism, services, startups and Port City collaboration with Korean partners.

Seven listed corporates (John Keells, Carson Cumberbatch, Aitken Spence, LOLC, Commercial Bank, Sunshine and Elpitiya Plantations) supported the Daily FT-CICRA 10th Annual Cyber Security Summit, which provided cyber security training to over 100 state university students. The full-day event covered fraud detection, data breaches and AI-related cyber risks and included a night hack and CEO Forum.

Colombo Stock Exchange closed mixed: ASPI up 0.19% at 13,188 while the S&P SL20 fell 0.32% to 3,905; turnover was Rs3.7bn. Hotels drew investor interest after tourist arrivals topped 1.7 million, with Aitken Spence Hotel Holdings, Aitken Spence, Sampath Bank and Browns Investments among top contributors.

Aitken Spence Travels (part of Aitken Spence PLC) won the 'most sustainable Tour Operator/DMC' award at the Sustainability Awards 2024 organized by AHK Sri Lanka, marking the company's second time receiving this recognition.

Colombo Stock Exchange closed down: ASPI fell 1.00% to 12,982 and S&P SL20 fell 1.49% to 3,860, with turnover Rs7bn led by banks and a net foreign outflow of Rs211mn. Top negative contributors included John Keells, Commercial Bank, Sampath and Browns, while DFCC and CDB were top turnover generators.

Colombo Stock Exchange closed up: ASPI +0.06% to 13,113 and S&P SL20 +0.13% to 3,919 on turnover Rs2.7bn. Top contributors included John Keells, Commercial Bank, Lion Brewery and Access Engineering; banking stocks were mixed and there was a net foreign outflow of Rs366mn.

Colombo market showed a muted response to the NPP landslide, with the ASPI up 0.2% and the S&P SL20 up 0.08% on turnover of Rs.5.5bn; the banking sector led turnover while foreign investors were net sellers of Rs.761.2m.

Aitken Spence PLC reported EBITDA of Rs. 8.9bn for the six months to 30 Sep 2024, up 10.4%, and PBT (ex-forex) turned to a Rs. 1.5bn profit from a Rs. 1.2bn loss a year earlier. Maritime volumes and FX pressures weighed on logistics, while hydro renewables and stronger hotel occupancy boosted results; VAT and Red Sea disruptions hit destination management.

Aitken Spence PLC reported EBITDA (ex-forex) of Rs. 8.9 billion for the six months to 30 Sep 2024, up 10.4%, and group PBT (ex-forex) turned to Rs. 1.5 billion from a loss of Rs. 1.2 billion a year earlier. Tourism losses narrowed, strategic investments PBT rose >100%, while maritime was hit by lower volumes and forex swings.

Colombo Stock Exchange rose, with the ASPI up 0.24% to 13,231 on Nov 18 and turnover of Rs5.5bn led by banks (Rs1.8bn) and capital goods (Rs1.1bn). Distilleries Company announced a first interim dividend of Rs1 and its share closed at Rs32.90.

Aitken Spence Cargo (Aitken Spence Freight Sector) won the Gold Award in the “Freight Forwarders – Large Category” at the National Logistics Awards 2024 on 23 October 2024, recognising excellence across operations, sustainability and service offerings in freight logistics.

Aitken Spence PLC's logistics arm won five awards at the SLFFA National Logistics Awards 2024, including Golds for Warehousing & Distribution (Large), Transport and Project Logistics and a Silver in Container Depot.

The Travel Agents Association of Sri Lanka elected Shanaka Fernando of Yenesha Travels as president for 2024/25 at its 49th AGM; Aitken Spence Travels is listed on the TAASL Executive Council among other travel firms.

The Sri Lanka Convention Bureau held a MICE Tourism training on 15 Oct at Habarana Village by Cinnamon to position the Cultural Triangle as a MICE hub, with 30+ hoteliers from 18 hotels attending. Speakers included Aitken Spence representatives and digital marketing experts (Meta, Google) and participants developed MICE event concepts.