Sri Lanka Telecom (SLT) was ranked number one in Business Today TOP 10 for 2008-2009.
The Business Today TOP 10 Awards for the financial year 2008-2009 was held yesterday at the Hilton Colombo.
The Award ceremony recognized and honoured the Sri Lankan Companies that have shown strong performance and consistency during the past year and proven their business prowess by outshining others.
The chief guest at this occasion was President s Senior Advisor Basil Rajapaksa.
With a convincing lead in points, Sri Lanka Telecom (SLT) was ranked number one in Business Today TOP 10 for 2008-2009.
SLT has made major contributions towards the development of telecom infrastructure in the country, achieving a Group Turnover of Rs 47 billion, posting an after tax profit of Rs 7.4 billion, in the past year.
Securing second place was Commercial Bank of Ceylon.
The bank s overall strong performance in its operations in both Sri Lanka and Bangladesh was a key factor in acquiring its current ranking. John Keells Holdings, came in at number three, while Ceylon Tobacco Company returned to the list of top corporate performers at number four. Occupying the positions from number five to nine, respectively, were Associated Electrical Corporation, Distilleries Company of Sri Lanka, Hatton National Bank, Aitken Spence & Company and Cargills (Ceylon).
Tying the tenth position was Carson Cumberbatch and Sampath Bank, having obtained equal scores.
2008-2009 was a challenging year for the corporate sector.
The global financial crisis, fluctuations in oil prices and the final stages of the high intensity conflict had a significant impact on the country s economy.
Sustaining and driving performance perhaps is a trait preserved by only the best and most daring businesses. In Sri Lanka there are many examples of those who understand the art of remaining resilient, adapting and growing under trying conditions.
The survey is based on published financial information of companies listed on the Colombo Stock Exchange.
Established financial criteria used for selecting the Business Today TOP 10 are sales turnover, growth in sales turnover, profits, growth in profits, return on equity, growth in earnings per share, market capitalization, value of shares transacted and value addition.