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JKH Group revenue up 7% to Rs 31.1b in nine months

John Keells Holdings PLC(JKH) Profit Before Tax (PBT) for the quarter and nine months ended December 31, 2008, was at Rs. 918 million and Rs. 3.9 billion, being 46 per cent and 4 per cent below the PBT of Rs. 1.7 billion and Rs. 4.1 billion in the corresponding periods of the previous year.

The profits attributable to Equity Holders for the quarter, and nine months, ended December 31, 2008 of Rs. 765 million and Rs. 2.6 billion were decreases of 44 per cent and 19 per cent over the corresponding periods in the previous year. The decrease in group performance is mainly due to the one-off charges in additional taxes and write offs arising out of Lanka Marine Services (LMS) and a decrease in profitability of LMS relative to the previous year, as a result of adopting a different mode of operations.

Despite the revenue of Rs. 9.3 billion in the third quarter being 16 percent lower than the Rs. 11.1 billion reported in the corresponding period in the previous year, the revenue of Rs. 31.1 billion for the first nine months of 2008/09, was 7 per cent above the Rs. 29.2 billion recorded in the corresponding period in the previous year.

At a Company level, the net profits for the quarter, and nine months, ended December 31, 2008 were Rs. 1.1 billion and Rs. 4.0 billion, these being increases of 34 per cent compared to Rs. 813 million and 132 per cent compared to Rs. 1.7 billion over the corresponding periods in the previous year.

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