CT Holdings reaffirms long-term confidence in Group and Sri Lankan economy

CT Holdings PLC and its key subsidiary, Cargills (Ceylon) PLC, recently reported a strong performance for the second quarter of FY2026/27, driven in large part by growth across the Group’s key operating sectors of Retail, FMCG and Restaurants. Alongside this performance, the Group announced a series of senior executive appointments, effective from January 2027, as part of its long-term succession planning and continued commitment to developing leadership from within the organisation.

Commenting on the results and appointments, CT Holdings PLC and Cargills (Ceylon) PLC Chairman Louis Page said: “Cargills, which is a key subsidiary of CT Holdings, has always been built with a long-term perspective. Through different generations and different periods in our country’s history, we have continued to invest, grow and evolve. That commitment has not changed.”

Strengthening professional leadership

The new appointments encompass leadership positions across Retail, Dairy and Food & Beverage, as well as Group Finance. They bring together a team of experienced executives who have grown within the Group and played important roles in developing and expanding its businesses over many years. Collectively, the strengthened leadership team brings deep institutional knowledge, extensive operating experience and a strong understanding of the values and culture that have shaped the Group for decades.

Reflecting on the appointments, Page went on to say, “The appointments we are announcing are an important part of that journey. One of the greatest strengths of Cargills has been its people and our ability to develop leaders from within. These are individuals who have grown with the Group, understand our businesses and our values, and have demonstrated their ability to lead.”

As the Group has expanded in scale and complexity, strengthening professional management and empowering individual business leaders with greater responsibility and accountability have become increasingly important. The new leadership structure is intended to provide experienced executives with clear accountability and the responsibility to take their respective businesses forward, while preserving the institutional knowledge, values and long-term perspective that have shaped the Group over generations.

“As the CT Holdings Group becomes larger and more complex, it is important that our businesses continue to be led by strong professional management, with clear accountability and the freedom and responsibility to take the Group forward,” Page said.

Committed ownership with a wider social purpose

Alongside this evolution in management, the Group’s controlling ownership is intended to remain stable and committed through Odeon Holdings, the parent company of CT Holdings. This long-term approach to ownership is also being shaped by a broader philosophy of stewardship and social responsibility.

The Chairman further commented, “At the same time, I want there to be equal clarity about the committed ownership of the Group. I believe that long-term committed ownership carries responsibilities that extend beyond the company itself.”

Through the trust arrangements associated with Odeon Holdings, a significant part of the economic benefit derived from the Group is intended ultimately to support charitable causes in Sri Lanka. Elaborating on this commitment, Page said, “It is intended that the ownership held through Odeon Holdings will, through trusts, increasingly serve a wider social purpose. I am committed to contributing 50% of the economic interests in the capital and profits of Odeon Holdings, derived through its investments in CT Holdings PLC, towards charitable initiatives in Sri Lanka, with particular emphasis on education, supporting and advancing women’s causes, and the development of art and theatre.”

Based on the current market capitalisation of the CT Holdings Group, Odeon Holdings’ underlying net asset value is estimated at over Rs. 60 billion. This places a baseline value of at least Rs. 30 billion on the economic interest intended for charitable initiatives focused on Sri Lanka. This valuation excludes the voting control premium inherent in Odeon Holdings’ position as the ultimate parent of entities with an aggregate market capitalisation of approximately Rs. 300 billion. Annual charitable contributions arising from Odeon Holdings are expected to amount to approximately Rs. 330 million over the coming years and are expected to increase substantially after five years. Effectively, Odeon Holdings has committed 50% of its distributions to charitable causes in Sri Lanka.

Speaking of his longer-term vision for the Group, he added, “We want Cargills to remain a strong and growing Sri Lankan institution. We want it to be led by capable professional managers who are empowered to take the business forward. We want its ownership to remain stable and committed for the long term. And we want a meaningful part of the wealth generated through that ownership ultimately to serve the country and communities that have supported Cargills over generations.”

Taken together, these developments reflect a clear long-term direction for CT Holdings and Cargills: stable and committed ownership, increasingly strong professional management, continued investment and growth, and a wider social purpose. “Stable, committed ownership and professional management are not alternatives. Together, they provide the foundation for CT Holdings and Cargills to continue growing, creating opportunity and contributing to Sri Lanka for generations to come,” Page said.

Confidence in Sri Lanka’s long-term prospects

The Group remains optimistic about Sri Lanka’s medium- to long-term growth potential, supported by the progress of economic reforms, the resilience of the Sri Lankan people and the country’s strategic position as a hub in the Indian Ocean. The Group has demonstrated its confidence in the economy through continued investment and the expansion of its portfolio across Retail, FMCG, Restaurants, Real Estate, Entertainment and Financial Services. These investments reflect its commitment to building enduring Sri Lankan businesses, creating opportunities and contributing to the country’s long-term economic and social development.