Monday July 23, 2018

Sri Lanka's JKH net up 19-pct in March on finance income

Jul 27, 2017 17:33 PM GMT+0530 | 0 Comment(s)

ECONOMYNEXT - Sri Lanka's John Keells Holdings Plc, which has interests in logistics, leisure, property and financial services said net profits for the June 2017 quarter rose 19 percent to 2.8 billion rupees helped by finance income, amid narrowing profits from several segments.

The group reported earnings of 2.04 rupees per share.

Revenues rose 18 percent to 26 billion rupees and cost of sales rose at a faster 25 percent to 20.1 billion rupees and gross operating profits rose barely increased by 1 percent to 6.7 billion rupees.

Group finance income rose 65 percent to 3.4 billion rupees while finance cost fell to 144 million rupees from 271 million.

Profits in transport rose to 774 million rupees from 694 million in the quarter, financial services rose to 235 million rupees from 195 million, information technology rose to 51.6 million from a loss of 2.1 million a year earlier and property maintained profits with 49.3 million profit up from 48.8 million.

Profits in leisure fell to 106 million rupees from 475 million a year earlier amid a closure of some hotels, retail fell to 755 million rupees from 924 million.

There was a sharp increase in 'other' segment which usually contain items such as finance income to 1.0 billion rupees from 310 million.


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