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| Monday, 28 February 2005 |
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JKH increases group revenue John Keells Holdings Limited recorded an increase in Group revenues from Rs 14.92 billion to Rs 17.67 billion, for the nine months to December 31, 2004 reflecting an 18 per cent growth. The profits before exceptional items increased from Rs 1.99 billion to Rs 2.64 billion which is a 33 percent increase. The group also recorded a 74 per cent increase in Profit Attributable to Shareholders from Rs 1.03 billion to Rs 1.79 billion despite effective tax rates increasing from 13.67 per cent to 18.35 per cent mainly as a result of limitations in tax set offs and imposition of the Economic Service Charge. However, the profitability in the quarter ended on December 31 last year was lower than anticipated as a result of the tsunami, and accounting for tsunami impacts, in the Leisure, Financial Services and Food and Beverage Sectors. The Company, John Keells Holdings Limited (JKH), posted a Profit after t taxation of Rs 0.67 billion for the quarter, and a Profit after Taxation of Rs 2.26 billion for the nine month period, ended on December 31, 2004, being increases of 180 per cent and 256 per cent over the corresponding periods in the previous year. This was mainly as the result of a Rs 1.53 billion accounting profit that arose out of the acquisition by John Keells Hotels Limited of Resort Hotel shares owned by JKH.
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