JKH posts Rs 1.53 b profit in Q1

John Keells Holdings PLC recorded a profit before tax (PBT) of Rs 1.53 billion for the first quarter ended June 30, 2010. This reflects an increase of 60 percent compared to the Rs 959 million in the corresponding period in the previous year.

The profits attributable to equity holders for the first quarter, ended June 30, 2010 of Rs 1.01 billion, reflects an increase of 55 percent compared to the corresponding period in the previous year.

John Keells Holdings Chairman Susantha Ratnayake said revenue for the first quarter ended June 30, 2010 was Rs 12.92 billion,an increase of 28 percent over the corresponding period in the previous year. Transportation profit before tax (PBT) for the first quarter increased by 52 percent to Rs 802 million compared to the same period last year (2009/10Q1:Rs 529 million). All the businesses in this segment showed an improved performance.

Despite the full complement to four hotel rooms not being available due to refurbishment and upgrades the Leisure sector recorded a significant improvement compared to the same period last year [Loss of Rs 14 million versus a Loss of Rs 47 million in Q1 last year] on the back of better performance by the Sri Lankan segment.

Consumer Foods and Retail profit before tax for the quarter showed an increase of 313 percent to Rs 169 million compared to the first quarter last year (2009/10 Q1 Rs 41 million).

Financial Services profit before tax of Rs 377 million for the first quarter is a 74 percent increase compared to the same period last year (2009/10Q1:Rs 217 million).

The Information Technology Group recorded a profit before tax of Rs 0.8 million for the first quarter (2009/10 Q1 Loss Rs 32 million) on the back of an improved performance by the Office Automation segment.