DIMO crowned for annual report excellence

Monday, 7 December 2015 00:40 - - {{hitsCtrl.values.hits}}

Haul of six awards including Golds for overall excellence, sector, integrated reporting and sustainability reporting

Bucket-DIMO-Chairman DIMO PLC Chairman Ranjit Pandithage receives the Award from Chief Guest President Maithripala Sirisena at the 51st Annual Report Awards 2015 organised by the CA Sri Lanka held at Waters Edge - Pic by Indraratne Balasuriya

Diesel and Motor Engineering (DIMO) Plc swept the boards at the CA Sri Lanka Annual Report Awards 2015, winning the overall Gold Award for the best annual report in the competition as well as Gold awards for Integrated Reporting, Sustainability Reporting and for the sector Diversified Holding Companies (up to five subsidiaries).

The annual report was also recognised for the Best Disclosure on Capital Management and with the Bronze award for Management Commentary. The strong performance from among a field of 144 strong competitors stands testament to DIMO’s longstanding corporate commitment to transparency and accountability to its stakeholders. DIMO has been a pioneer of integrated reporting in Sri Lanka and is the only Sri Lankan entity to have been a part of the International Integrated Reporting Committee’s pilot program leading to the establishment of the Integrated Reporting Framework.

DIMO first published an integrated annual report for the year ended 2010/11 and has since consistently received commendation from international experts for conveying a complex value creation story in a compellingly readable, clear and concise presentation. This year’s winning report was the company’s fifth integrated report.

The DIMO annual report for 2014/15 was presented under the theme ‘Magnet of Trust’, alluding to the impeccable trust that forms the basis of the 75-year-old company’s enduring relationships with its stakeholders.

DIMO Chairman Ranjith Pandithage, speaking on behalf of his DIMO Tribe, after accepting the overall award from President Maithripala Sirisena said: “We are humbled by this extraordinary performance and thank CA Sri Lanka and the organising committee for affording us the opportunity of being recognised for our efforts to publish an annual report of quality and simplicity.

“This winning performance is a wonderful achievement for our team, which has instilled strong reporting practices purely in order to deliver results of holistic value, and never in pursuit of awards. We are driven solely by the desire to create better value for stakeholders by improving our social, economic and environmental performance; we are thrilled that telling that story has won us so many accolades.”

Pandithage added: “One of the most ardent supporters of our reporting journey has been our dear colleague the late Prof. Uditha Liyanage; this award would have made him very happy. All of us remember his contribution to DIMO with much gratitude.”