C T Holdings

C T Holdings PLC, formerly known as Ceylon Theatres Limited, is one of the largest conglomerate companies in Sri Lanka. The company was incorporated in 1928 by Chittampalam A. Gardiner and quoted on the Colombo Stock Exchange ever since. In 2019, Brand Finance ranked C T Holdings eighth amongst the most valuable conglomerates in Sri Lanka with a brand value of LKR18,981 million.[2] C T Holdings also ranked eighth in the LMD 100, a list of leading listed companies in Sri Lanka by the business magazine, LMD.[3]

C T Holdings PLC
TypePublic
CSE: CTHR.N0000
ISINLK0041N00000
Industry
Founded1928 (1928)
FounderChittampalam A. Gardiner
Headquarters
Colombo
,
Sri Lanka
Key people
RevenueIncrease LKR196.266 billion (2023)
Increase LKR13.734 billion (2023)
Increase LKR5.110 billion (2023)
Total assetsIncrease LKR127.235 billion (2023)
Total equityIncrease LKR35.363 billion (2023)
Owners
  • Odeon Holdings (Ceylon) (42.09%)
  • Ranjit Page (8.83%)
  • Anthony Page (8.69%)
ParentOdeon Holdings (Ceylon)
Subsidiaries
Footnotes / references
[1]

History
Empire Residencies building is completed in 2009

Ceylon Theatres Limited was founded by Chittampalam A. Gardiner and Alfred Thambiayah in 1928. It is the first Ceylonese company to enter the film screening business.[4] Four years later the company was floated. The Regal Cinema in Colombo and another in Nuwara Eliya made up the assets of the company.[5] By 1950, Ceylon Theatres was the largest film circuit in the country. The company controlled 69 permanent cinemas of which 14 were located in Colombo.[6]

In 1981, under the leadership of Albert A. Page, the company acquired Millers and Cargills venturing into retailing and distribution. In 1991 the company built the Majestic City shopping complex and cineplex. When the Government of Sri Lanka divested its stake in Lanka Ceramics Limited, Ceylon Theatres acquired 65% of the shares.[7] Empire Residencies, a 37 and 33-storeyed residential apartment twin-tower completed in 2009. In 2010, the company name was changed from Ceylon Theatres to C T Holdings. Kotmale Holdings, a dairy products manufacturing company was acquired in 2011. The company acquired a license to operate a commercial bank, and Cargills Bank was launched in 2014. In the same year, Cargills Square was established in Jaffna. In 2015, Empire Cineplex was established in Arcade Independence Square.[1]

Operations

The company operates cinemas such as Regal Colombo, Empire, and Majestic cinemas. The company has been described as one of the most traditionally managed family-held businesses in the country.[8] C T Holdings operates KFC and TGI Fridays franchises in Sri Lanka.[9] C T Holdings entered into a partnership with BookMyShow, an India-based online ticketing platform. The partnership allowed access to the Vista ERP system, a customisable ERP System.[10] C T Holdings announced a share repurchase plan in 2020. In the board of directors' view, the share price then did not reflect the growth prospects of the company and, therefore, was conducive to repurchasing shares.[11] Millers, a subsidiary of C T Holdings gained control of the Bandarawela Hotel in 2022.[12]

See also

References
  1. "Annual Report 2022/23" (PDF). cse.lk. C T Holdings PLC. Retrieved 10 September 2023.
  2. "Sri Lanka 100 2019" (PDF). brandfinance.com. Brand Finance. Retrieved 14 September 2021.
  3. "LMD 100". lmd100.lk. LMD. Retrieved 14 September 2021.
  4. The Parliament of Sri Lanka (1965). Ceylon Sessional Papers. Government Press. p. 15. Retrieved 12 February 2023.
  5. "Ceylon Theatres". Far Eastern Economic Review. No. 31–32. Review Publishing Company Limited. 1961. p. 481. Retrieved 13 February 2023.
  6. Report of the Commission on Technical Needs in Press, Radio, Film Following the Survey in Twelve War Devastated Countries. UNESCO. 1950. p. 352. Retrieved 13 February 2023.
  7. Ganesh, Gopal (2008). Privatisation and Labour Restructuring. New Delhi: Academic Foundation. p. 92. ISBN 978-81-7188-634-0. Retrieved 12 February 2023.
  8. "16. CT Holdings". businesstoday.lk. Business Today Online. Retrieved 26 February 2021.
  9. "Corporate Insights". LMD. Media Services Pvt Ltd. 19 January 2022. Retrieved 26 July 2022.
  10. "Ceylon Theatres forms landmark partnership with BookMyShow". Daily FT. Wijeya Newspapers. 17 April 2018. Retrieved 26 July 2022.
  11. "Cargills and CT Holdings go for share buyback". Daily FT. Wijeya Newspapers. 25 July 2020. Retrieved 26 July 2022.
  12. Weerasuriya, Sanath (11 March 2022). "Bandarawela Hotel A walk into the Colonial era". Daily Mirror. Wijeya Newspapers. Retrieved 26 July 2022 – via PressReader.
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