Sri Lankaâ€™s John Keells PLC June net up 30-pct
ECONOMYNEXT – Sri Lanka’s John Keells PLC said June 2017 quarter net profit rose 30% to Rs60 million from a year ago, with its stock broking business turning profitable largely helped by finance income.
Quarterly sales of the broking unit of John Keells group rose 46% to Rs215 million over the period, according to interim results filed with the stock exchange.
Earnings per share for the June quarter were 98 cents, up from 76 cents the previous year. The share last traded at Rs60.
John Keells PLC has three operating segments, produce broking which includes tea and rubber broking, warehousing, which includes tea and rubber pre-auction produce warehousing, and stock broking.
Produce broking earned the biggest profit, of Rs70 million, in the June 2017 quarter, up from Rs54 million a year ago.
The warehousing business made a profit of Rs7 million compared with earnings of Rs5.6 million the previous year.
The share broking business of John Keells PLC made a profit of Rs7.9 million in the June 2017 quarter compared with a loss of Rs1 million the year before.
The stock broking unit earned finance income of Rs6.2 million in the quarter with Rs1.9 million profit coming from operating activities.
(COLOMBO, July 27, 2017)