Sri Lanka Trans Asia Hotels December quarter net down 53-pct
ECONOMYNEXT – Trans Asia Hotels, a unit of Sri Lanka’s John Keells Holdings, which operates the five-star Cinnamon Lakeside Hotel, said December 2015 quarter net profit fell 53 percent to 82 million rupees from a year ago.
Sales fell 11 percent to 703 million rupees, the company said in a stock exchange filing.
Distribution and operating expenses rose while tax costs fell.
In the nine months ending 31 December 2015, et profit fell 97 percent to 12 million rupees with sales down 30 percent to 1.7 billion rupees.