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Former CIMA Global President Aubrey Joachim Joins Nanaska to Shape Future Leaders
Nanaska, one of Sri Lanka’s professional education institutes specializing in the Chartered Institute of Management Accountants (CIMA) qualification, is pleased to announce the appointment of Mr. Aubrey Joachim, FCMA, CGMA, MBA, to its Board as a Non-Executive Director. Aubrey brings extensive international experience across finance leadership, consulting, professional development and finance function transformation. A former Global President of CIMA, Aubrey held the position from 2009 to 2010, becoming the first person from outside the United Kingdom and Ireland to lead CIMA in its then 90-year history. Over a career spanning more than three decades, Aubrey has held senior finance roles and worked with organizations and finance professionals across multiple international markets. His experience has given him a strong understanding of how the finance function is evolving beyond traditional reporting and control to play a more strategic role in business decision-making and value creation. Through his consulting and professional development work, Aubrey has been closely involved in areas including finance transformation, strategic management accounting, business partnering, forecasting, data and analytics, and the development of future finance leaders. He has also been an active voice on the impact of technological change on the profession, addressing developments in artificial intelligence, automation, analytics and digital disruption, and the new capabilities these require from finance professionals and business leaders. His appointment further strengthens Nanaska’s Board alongside fellow Non-Executive Directors Arj Wignaraja and Niranjan Wijesekera, adding significant international finance, professional education and CIMA leadership experience to support the organisation’s future direction. As a Non-Executive Director, Aubrey will provide independent strategic guidance to Nanaska, particularly in relation to the evolving finance profession, professional education and leadership development. His expertise will also be especially relevant as Nanaska continues to develop its capabilities in AI-powered education and training, ensuring that technological innovation is combined with the commercial judgement, leadership capability and professional skills required in the future workplace. Aubrey’s appointment brings together two areas that are becoming increasingly interconnected: the transformation of the finance profession and the transformation of how future professionals are educated. His experience in CIMA leadership, finance transformation, consulting and technology-led change will provide valuable perspective as Nanaska continues to develop professionals equipped for the changing demands of finance and business. Image Caption : Nanaska Executive Director Mr. Channa Gunawardena with Former CIMA Global President Mr. Aubrey Joachim
2026-08-17 06:52:00

Dialog Consolidates 1H 2026 Performance, Contributing Rs 30.9Bn to State Revenue and Investing Rs 18.5Bn in Digital Infrastructure
1H 2026 Revenue: Rs 95.5Bn, up 9% YTD 1H 2026 EBITDA: Rs 50Bn, up 23% YTD, EBITDA Margin of 52.3% for 1H, up 6.0pp YoY 1H 2026 NPAT: Rs 19.3Bn, up >+100% YTD Taxes Paid to GoSL: Rs 30.9Bn (Rs 8.1Bn in Direct, Rs 22.8Bn Indirect) Investment in Digital Infrastructure: Rs 18.5Bn; Operating Free Cash Flow (OFCF): Rs 18.4Bn Second Interim Dividend: Rs 0.70 per share; YTD DPS of Rs. 1.40; Annualized Dividend Yield of 6.1% Dialog Axiata PLC announced its consolidated financial results for the quarter ended 30 June 2026 on Friday, 14 August 2026. Financial results included those of Dialog Axiata PLC (the “Company”) and of the Dialog Axiata Group (the “Group”). Group Performance The Group delivered revenue growth of 9% Year to Date (“YTD”) on the back of strong performances in Mobile, Fixed and Digital Pay Television businesses as Group Revenue reached Rs 95.5Bn for 1H 2026. On a Quarter-on-Quarter (“QoQ”) basis, revenue increased by 2% supported by Data Revenue growth and Home Broadband Revenue generation to reach Rs 48.2Bn for Q2 2026. The Group Earnings Before Interest, Tax, Depreciation and Amortisation (“EBITDA”) was recorded at Rs 50Bn, up 23% YTD supported by Revenue performance and Cost Rescaling Initiatives. EBITDA margin expanded by 6.0pp YoY to reach 52.3%. On a QoQ basis Group EBITDA grew 6% to record Rs 25.7Bn for Q2 2026. Group Net Profit After Tax (“NPAT”) was recorded at Rs. 19.3Bn for 1H 2026, increasing by over 100% YoY, supported by strong EBITDA growth, lower net finance costs and foreign exchange gains, primarily arising from the timely execution of forward contracts against future USD-denominated liabilities. On a QoQ basis, Group NPAT increased 10% to Rs. 10.1Bn for Q2 2026. Excluding the impact of foreign exchange gains, underlying NPAT for Q2 2026 amounted to Rs. 9.6Bn, reflecting growth of 4% QoQ and 76% YoY. Underlying NPAT for 1H 2026 reached Rs. 18.8Bn, representing an increase of 91% YoY. Reflecting strong operational performance, the Group recorded Operating Free Cash Flow (“OFCF”) of Rs 18.4Bn for 1H 2026. Delivering Sustainable Shareholder Returns Following a review of the Group’s financial performance and future investment requirements, the Board of Directors of Dialog Axiata PLC approved a second interim dividend of Rs 0.70 per share for FY 2026 at its meeting held on 14 August 2026. This brings the YTD dividend distribution to Rs 1.40 per share and represents an annualized dividend yield of 6.1%, based on the Company’s closing share price for Q2 2026, reflecting Dialog’s continued commitment to delivering sustainable returns to shareholders while supporting long-term growth investments. Company and Subsidiary Performance At an entity level, Dialog Axiata PLC (the “Company”) continued to be the primary contributor to Group Revenue (77%) and Group EBITDA (75%). Supported by YoY growth in the Data segment and effective cost-rescaling initiatives, Company revenue for 1H 2026 increased by 11% YTD to Rs 73.3Bn, while EBITDA rose 27% YTD to reach Rs 37.3Bn. On a QoQ basis, Company revenue and EBITDA grew by 3% and 4% respectively, primarily attributable to the flow-through impact of revenue growth and cost optimizations. Furthermore, NPAT for 1H 2026 was recorded at Rs 15.8Bn, up +>100% YoY. On a QoQ basis, Company NPAT grew 8% QoQ to reach Rs 8.2Bn. Dialog Television (“DTV”) maintained its leadership in the Pay-TV sector with a subscriber base of over 1.6Mn as at end June 2026. In 1H 2026, revenue grew 17% YoY to reach Rs 7.5Bn, reflecting the growth in advertising revenue. The top line growth translated to strong EBITDA performance reflecting a growth of 54% YTD to reach Rs 1.8Bn for 1H 2026. Accordingly, DTV recorded a NPAT of Rs 0.4Bn for the 1H 2026. Dialog Broadband Networks (“DBN”) featuring the Group’s Fixed Telecommunications, Broadband and International Businesses recorded Revenue of Rs 17.9Bn for 1H 2026, reflecting a growth of 3% YTD, driven by broadband and data revenue growth notwithstanding the substantial reduction in revenues from the low-margin international hubbing business. DBN’s EBITDA grew 12% YTD to reach Rs 10.8Bn for 1H 2026, with EBITDA margin maintained 60%, up 5pp YoY. NPAT was recorded at Rs 4.1Bn for 1H 2026, up 41% YTD resulting from lower depreciation and net finance cost in addition to forex gains. Continued Contribution to National Development Dialog Group remained a key contributor to state revenue, remitting a total of Rs 30.9Bn to the Government of Sri Lanka (GoSL) in 1H 2026. This comprised Rs 8.1Bn in Direct Taxes and Levies and Rs 22.8Bn in Indirect Taxes collected on behalf of the GoSL. On a YoY basis, total taxes paid increased by 9%, with Direct taxes up 14% YoY and Indirect taxes up 7% YoY. Strengthening Digital Infrastructure Through 5G Investment The Group capital expenditure for 1H 2026 amounted to Rs 18.5Bn, resulting in a Capex to Revenue ratio of 19%. Investments were primarily directed towards the accelerated rollout of next generation 5G infrastructure, expanding the network footprint to over 1,000 live sites. The investment also supports greater customer adoption of advanced technologies, strengthens Dialog’s readiness to meet rapidly growing data demand, and positions the Group to capture future digital growth opportunities. Advancing Next-Generation Broadband with Dialog Air Fibre During the quarter, Dialog launched Dialog Air Fibre, Sri Lanka’s first 5G-powered ultra-fast Wi-Fi solution, further strengthening its position in the broadband market. Built on Dialog’s advanced 5G network, Air Fibre offers a high-speed, low-latency, plug-and-play connectivity experience without the need for fixed-line infrastructure, providing a strong alternative to fibre broadband. The introduction of Air Fibre broadens Dialog’s addressable market, strengthens its broadband proposition, and supports the increasing demand for next-generation digital connectivity solutions. Dialog Pay Launch Accelerates Digital Financial Inclusion The Company announced the launch of Dialog Pay, an integrated platform within the MyDialog App that brings together connectivity, payments, and financial services. Aligned with the Government of Sri Lanka’s LankaQR Payment Promotion Programme, Dialog Pay aims to accelerate digital payment adoption and advance financial inclusion by delivering convenient, secure, and accessible financial services through Dialog’s digital ecosystem.
2026-08-16 04:23:36

WIST champions inclusive vocational education
Over 40 students with hearing and speech impairments graduate with industry-recognised optical qualifications The Wickramarachchi Institute of Science & Technology (WIST), in collaboration with the Delegation of German Industry and Commerce in Sri Lanka (AHK Sri Lanka) and Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH, recently celebrated the graduation of more than 40 students with hearing and speech impairments at a special ceremony held at the Wickramarachchi premises in Delkanda. The graduation marked a significant milestone in advancing inclusive vocational education and creating greater opportunities for persons with disabilities to pursue meaningful careers. The graduates completed the Certificate Course in Optical Technician, jointly awarded by WIST and GIZ, while also receiving the National Vocational Qualification (NVQ) Level 3 in Optician (Ophthalmic), accredited by the Tertiary and Vocational Education Commission (TVEC). The dual qualifications provide graduates with industry-recognised technical competencies and practical skills required to build successful careers within Sri Lanka’s growing optical healthcare sector, while reinforcing the importance of equal access to quality vocational education. Speaking at the ceremony, Chairman of the Wickramarachchi Institute of Science & Technology, Dr. Mihira Wickramarachchi, said the graduation reflected the institute’s long-standing commitment to ensuring that education remains accessible to all. “Every individual deserves the opportunity to learn, develop their skills and build a successful career. Today’s graduation is not only a celebration of academic achievement but also of resilience, determination, and the limitless potential of these remarkable graduates. We are proud to have played a role in their journey and remain committed to creating an inclusive learning environment where every student has the opportunity to thrive and contribute meaningfully to society.” He further noted that strong partnerships between educational institutions, industry and international organisations are essential in creating sustainable opportunities for persons with disabilities while addressing the country’s growing demand for skilled professionals. The programme represents the shared commitment of WIST, AHK Sri Lanka and GIZ to promoting inclusive education, developing industry-ready professionals and creating equal opportunities for individuals with disabilities to participate confidently in the workforce. As part of its ongoing commitment to supporting accessible education, J.M. Wickramarachchi & Co. (JMW) also awarded scholarships to all students enrolled in the programme, further easing financial barriers and encouraging them to complete their professional qualifications. The graduation ceremony brought together representatives from the partner organisations and distinguished guests, including Chairman of the Wickramarachchi Institute of Science & Technology Dr. Mihira Wickramarachchi; CEO of JMW and Honorary Academic Advisor of WIST, Liza Wickramarachchi; Director of WIST and CTO of JMW, Dr. Cole Lomas; Chief Delegate of the Delegation of German Industry and Commerce in Sri Lanka, Martin Klose; Chief Advisor of WIST, Prof. Savithri Wasundara Wimalasekara; Head of Education and Training of WIST, Kushani Nadeema Samarasekara; and Head of Project Technical of GIZ GmbH, Kumudhini Rosa. Representatives from the partner organisations reaffirmed the importance of collaborative initiatives that expand access to high-quality vocational education while equipping persons with disabilities with the technical expertise, practical experience and confidence required to secure sustainable employment. The partnership serves as a model for how academia, industry and international development organisations can work together to build a more inclusive workforce. Beyond recognising academic success, the ceremony celebrated the perseverance, determination and aspirations of the graduates, many of whom have overcome significant barriers in pursuing professional education. Their achievements stand as a powerful reminder that inclusive education has the ability to transform lives, strengthen communities and contribute to a more equitable society. From left – Head of Education and Training of WIST, Kushani Nadeema Samarasekara; Chief Executive Officer of Wickramarachchi & Honorary Academic Advisor of WIST, Liza Wickramarachchi; Director of WIST and Chief Technology Officer of Wickramarachchi, Cole Lomas; Chief Advisor of WIST Prof. Savithri Wasundara Wimalasekara; Chief Delegate of the Delegation of German Industry and Commerce in Sri Lanka (AHK Sri Lanka) Martin Klose; Head of Project Technical of GIZ GmbH, Kumudhini Rosa and Chairman of WIST & Wickramarachchi, Dr. Mihira Wickramarachchi Photo caption : Graduates of the Wickramarachchi Institute of Science & Technology Certificate Course in Optical Technician with dignitaries following the graduation ceremony
2026-08-07 06:35:16

Tokyo Cement Posts Steady FY26/27 Q1 Performance Amid Gradual Market Recovery
Quarterly Financial Review Tokyo Cement Group (Tokyo Cement) reported a turnover of Rs. 15,836 million and a Profit After Tax (PAT) of Rs. 635 million for the 1st Quarter ended 30th June 2026, compared to a turnover of Rs. 12,544 million and a PAT of Rs. 668 million, in the same period last year. The increase in turnover reflects the gradual growth in volume driven by the commencement of new construction projects. However, profitability remained under pressure due to elevated raw material, insurance, and freight costs arising from the ongoing geopolitical tensions in the Middle East. The Economic Environment The Financial Year commenced amid heightened geopolitical uncertainty, with the Iran conflict posing significant pressure on the Sri Lankan economy through elevated fuel and energy prices, supply chain disruptions, and higher freight and insurance costs. Export income remained constrained by weaker global demand and rising shipping costs, while tourism earnings declined due to higher airfares and flight disruptions. The cumulative impact raised import costs, contributing to an average depreciation of approximately 7% in the Sri Lankan Rupee against the US Dollar during the period, while exerting pressure on the progress made in economic growth, fiscal performance, and reserve accumulation. Domestic inflation edged up slightly due to higher energy and food prices but was projected to moderate toward the target in the near term. Nevertheless, steady forex inflows from merchandise exports, port and logistics services, and non-Middle East remittances helped cushion the economy against external shocks. Against this backdrop, the cement industry announced a revision to the Maximum Retail Price (MRP) of cement in mid-April, reflecting sustained increases in raw material, freight, insurance, and fuel costs. The industry had absorbed these cost escalations since the onset of the Iran conflict prior to implementing the price adjustment. In May, the Central Bank increased the Overnight Policy Rate (OPR) by 100 basis points from 7.75% to 8.75%, with the intention of managing inflation expectations and impact of surging global petroleum costs. This led to a moderation of credit growth and import demand over the period. The combination of rising inflation and continued uncertainty contributed to more cautious investment decisions by both private developers and individual investors in the real estate and construction sectors. These pressures were compounded by supply constraints arising from shortages of petrochemical-based raw materials. Cement consumption declined in April, reflecting the seasonal slowdown associated with the Sinhala and Tamil New Year holidays. However, the gradual resumption of regional infrastructure projects, particularly in the roads and highways sector, supported a recovery in demand for cement and concrete during the latter part of the quarter. Outlook Despite prevailing macroeconomic volatility, the construction sector outlook remains cautiously optimistic, supported by improving investment sentiment. Sectoral growth is expected to be driven by the commencement and continued execution of Government-funded infrastructure projects, including those carried forward from last year’s capital expenditure budget commitments. These project outlays are expected to be supplemented by allocations under the 2026 Budget. The rollout of these large-scale developments is expected to stimulate economic activity and strengthen construction demand. Further momentum is anticipated from externally funded development initiatives, including the Asian Development Bank-supported Post-Ditwah Cyclone Renovation and Livelihood Assistance Project, which encompasses the rehabilitation of transport and irrigation infrastructure, housing reconstruction, and livelihood restoration. Government of India-funded affordable housing programmes benefiting over 1,550 families across the Northern, Southern and plantation regions, together with private sector investments under the Colombo Port City development, are expected to provide additional impetus to the sector. Collectively, these initiatives are anticipated to position the construction industry for a return to double-digit growth. Nevertheless, significant downside risks remain to the country’s fiscal progress. Sustaining reform momentum and macroeconomic stability may become increasingly challenging amid geopolitical volatility linked to the Iran conflict, particularly through higher energy prices. Although higher fuel import costs and weaker tourism could widen the trade deficit, resilient workers’ remittances should support external stability. Rising fiscal pressures may constrain the Government’s ability to accelerate planned capital expenditure, potentially delaying the pace of anticipated recovery in the construction sector. Tokyo Cement maintains a conservative short- to medium-term outlook, while remaining confident in the country’s economic fundamentals. With an enhanced production capacity of 4 Mn MT, which is yet to be fully utilised, the Group is well positioned to capitalise on future industry growth. Tokyo Cement will continue to exercise strict cost discipline, safeguard stakeholder interests, and play an active role in supporting the country’s construction-led economic recovery.
2026-08-07 06:23:39

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