Sri Lanka’s John Keells Hotels December net down 13-pct

ECONOMYNEXT – Sri Lanka’s John Keells Hotels said net profit fell 13 percent to 365 million rupees in the December 2015 quarter from a year ago.
Sales of the company, a unit of the John Keells Holdings group, were virtually stagnant at 2.8 billion rupees, interim results filed with the stock exchange showed.
Sales were stagnant at both Sri Lankan and Maldivian hotels but profits were up slightly in the Sri Lankan hotels and down in the Maldivian resorts.

Earnings per share for the December quarter were 25 cents.

EPS for the nine months ending December 2015 fell to 58 cents from 61 cents with net profit down five percent to 846 million rupees and sales virtually stagnant at eight billion rupees from a year ago.

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