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LOLC Group reports Rs. 41 billion profit and surpasses Rs. 2 trillion in total assets, driven by global growth momentum
The Island
|June 06, 2025
LOLC Group has reported a profit after tax of Rs. 41 billion for the financial year 2024/25, reflecting an 89% increase over the previous year, supported by an operating profit of Rs. 48 billion. The robust performance was fueled by steady expansion in financial services, a series of strategic international acquisitions, and improving economic conditions in Sri Lanka.
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Now operating in over 25 countries, LOLC continues to solidify its status as Sri Lanka's most internationally diversified corporate group operating in financial services, agriculture, plantation, automotive, manufacturing, construction, marine, power generation, pharmaceuticals and leisure.
The Group's total assets climbed 17% to Rs. 2.03 trillion, while shareholder equity advanced to Rs. 343 billion, marking a 15% gain. Its total debt-to-equity ratio improved to 1.05 times from 1.2 times, signaling greater balance sheet strength despite an active investment pipeline.
LOLC's investment strategy over the past year has prominently featured acquisitions in Africa's tea sector. Following its 2023 acquisition of Finlays' Kenyan operations, the Group acquired Lipton's plantations in Kenya, Rwanda, and Tanzania. These transactions represent LOLC's deepening interest in real economy sectors and its intention to become a key player in the global tea supply chain.
This story is from the June 06, 2025 edition of The Island.
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