Integrated Annual Report 2022/23

GRI: 2-3 GRI: 2-4

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Expolanka Holdings PLC (Expolanka) presents its Annual Report for the financial year – 1 April 2022 to 31 March 2023. The Annual Report follows the Group’s standard 12-month (financial year) reporting cycle and includes consideration for material events up until the Board approval date of 30 June 2023.

The Our Group section presents an integrated strategic perspective of Expolanka’s position and performance during the year.

The business line reviews in the chapter on Our Businesses explore the operational performance and prospects of the Group’s three business sectors: Logistics, Leisure, and Investment.

In the section on Corporate Governance make up the Corporate Governance report: including reports of Board Committees and the Annual Report of the Board of Directors. The Risk Management report is presented in the section on Risk Management.

The Board of Directors of Expolanka Holdings PLC acknowledges a responsibility to ensure the integrity of this annual report. The Board assures that the report addresses all material matters significant for the Group’s ability to create value in the long-term, and presents a balanced account of the Group’s consolidated performance.

This report was approved by the board of directors on 30 June 2023.

GRI: 2-2

Reporting boundary

This annual report covers the global operations of Expolanka Holdings PLC (the Group) and its subsidiaries. The report presents the consolidated performance and results for the Group, unless otherwise stated. The report does not cover entities not operationally controlled by the Group.

There are no material changes to the scope of the report nor restatements of information provided in the annual report of the previous year. There were no significant changes in the Group’s size, structure, or ownership.

Guidelines and frameworks considered

This Annual Report follows local regulatory standards and global best practices for corporate disclosure, aligned with the following reporting guidelines and frameworks:


  • International Integrated Reporting <IR> framework 2021, IFRS Foundation.
  • Integrated Thinking principles, IFRS Foundation.
  • GRI Sustainability Reporting Standards – GRI Standards 2022
  • UN Global Compact (UNGC) Principles
  • Science Based Targets initiative (SBTi)


  • Company’s Act No. 07 of 2007
  • International Financial Reporting Standards, IFRS Foundation
  • Sri Lanka Accounting Standards (SLFRS / LKAS), Institute of Chartered Accountants of Sri Lanka

Corporate Governance

  • Code of Best Practice on Corporate Governance 2017 – Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) and the Securities and Exchange Commission (SEC) of Sri Lanka
  • Continuous Listing Rules of the Colombo Stock Exchange (CSE)

Reliability and completeness

The report attempts to present a balanced account of the Group’s performance during the reporting period, with regard to its ability to create value for stakeholders. For completeness, the report considers the needs of our stakeholders and the principle of ‘materiality’ when discussing financial and non-financial performance.

We take all efforts to continually improve our reporting and corporate disclosure processes through robust internal controls, continual engagement with stakeholders, and independent external assurance.

The report’s consolidated financial statements and notes, and sustainability reporting disclosures in line with the Global Reporting Initiative’s (GRI) Sustainability Reporting Guidelines, are assured by our external auditors – Ernst & Young.

Forward-looking statements

The Annual Report contains forward-looking statements and information, where pertinent to the Group’s direct operations or the context in which the Group operates. By nature, such future-oriented information is uncertain and liable to change, thereby potentially affecting the Group’s plans, prospects, forecasts, and future outlook.

Shareholders and other stakeholders are advised to be cautious when placing emphasis on such statements as the reality may materially differ from projected and anticipated information. The Group does not undertake to publicly update these forward-looking statements to reflect changes after the date of this report, except, in compliance with the applicable rules and regulations set by relevant statutory and regulatory bodies.

Any queries, clarifications and feedback on this annual report are to be directed to:

Director – Group Finance
Expolanka Holdings PLC
15A, Clifford Avenue,
Colombo 3