State‑owned dairy company Milco (Pvt) Ltd achieved a historic financial turnaround last year, recording its highest‑ever net profit of Rs.1.49 billion by late 2025, according to Agriculture and Livestock Deputy Minister Namal Karunaratne.

Deputy Minister Karunaratne told Parliament last week that the recovery enabled the company to halt privatization plans, clear debts, and extend unprecedented financial benefits. 

On December 31, 2025, Milco disbursed a performance bonus of Rs.75,000 each to all 1,228 employees. In addition, Rs.180 million in profit‑sharing incentives was distributed among 22,000 dairy farmers, marking the first such payout in 21 years.

He further said that Milco had previously accumulated Rs.3.5 billion in bank loans and Rs.1.7 billion in outstanding payments owed to milk‑supplying farmers, but all debts have now been settled.

He further announced that the long‑delayed Badalgama milk factory project will recommence, with capacity to process up to 200,000 liters of milk daily. 

Plans are also underway to upgrade the National Livestock Development Board’s farm in Nikaweratiya, with an additional Rs.1 billion budget allocated to supply high‑yield dairy heifers and male stock to local farmers.

Hela Apparel Holdings PLC has announced that it has filed an application before the Commercial High Court seeking a court-ordered winding up of the company after its Board concluded that it is unable to pay its debts due to continuing liquidity constraints.

In a filing to the Colombo Stock Exchange, the company said its Board reviewed the financial position of the group, including its realisable assets, liabilities, liquidity levels, indebtedness, expected cash flows and creditor obligations before determining that Hela Apparel Holdings PLC and its subsidiaries, Hela Clothing (Private) Limited and Foundation Garments (Private) Limited, were unable to continue their businesses.

The Board resolved on August 4 to seek a court-ordered winding up under the Companies Act No. 7 of 2007, with applications filed before the Commercial High Court on August 5. The two subsidiaries have also submitted separate winding-up applications.

John Keells Holdings (JKH) has planned a significant expansion of its Consumer Foods portfolio by entering Sri Lanka’s Quick Service Restaurant (QSR) segment. This strategic move will be marked by the rollout of Wendy’s, a globally recognized restaurant brand.

The conglomerate confirmed that all relevant franchise agreements and necessary preliminary work have been concluded. This diversification signals JKH’s intent to capture a share of the fast-food market through an internationally established brand.

While the rollout is in its early stages, the company has set a clear timeline for its market entry. The first Wendy’s outlet is expected to open by December 2026. This move is part of a broader effort by JKH to diversify its interests and strengthen its presence within the consumer goods and services landscape in Sri Lanka.