Sri Lanka’s John Keells Holdings net up 32-pct

ECONOMYNEXT – Profits at Sri Lanka’s John Keells Holdings rose 32 percent to 5,149 million rupees in the December 2016 quarter from a year earlier, the firm said with bunkering sales growing.

The group reported earnings of 3.73 rupees per share for the quarter. In the nine months to December the group reported earnings of 8.24 rupees per share on total profits of 11.2 billion rupees, which grew 18 percent.

Profits at transportation almost doubled to 817 million rupees from 418 million helped by bunkering and container transhipment.

Tourism sector profits rose slightly from 1,088 million to 1,197 million. Occupancy was up in both Maldives and Sri Lanka, Chairman Susantha Ratnayake told shareholders.

Profits from property fell to 190 million from 541 million.

Profits from consumer foods rose to 908 million from 759, profits in financial services rose to 1,143 million from 972 million and information technology from 69 million to 152 million.

There was also steep rise in ‘other’ sector to 1,247 million from 544 with helped by an unspecified ‘adjustment’ of 1,131 million. (Colombo/Nov26/2017)

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