JKH posts Rs 4.98 b profit in first six months

John Keells Group has recorded Profit Before Tax (PBT) Rs 4.98 billion for the first six months upto September 2010. John Keells Holdings Chairman Susantha Ratnayake said group PBT of Rs 3.45 billion for the quarter and Rs 4.98 billion for the first six months of the financial year 2010/2011 reflect increases of 281 percent and 167 percent over the PBT of Rs 905 million and Rs 1.86 billion in the corresponding periods in the previous year.

Recurring PBT, excluding the gains from the sale of stakes in Asian Hotels and Properties PLC (AHPL) and John Keells Hotels PLC (KHL), grew by 83 percent for the quarter and 71 percent for the first six months, he stated in the interim report.

The profits attributable to Equity Holders for the quarter and first six months, ended September 30, 2010, of Rs 2.93 billion and Rs 3.94 billion reflect an increase of 409 percent and 221 percent over the corresponding periods in the previous year.

The revenues at Rs 13.97 billion and Rs 26.89 billion in the second quarter and the first half of 2010/2011 were 24 percent and 26 percent above the Rs 11.23 billion and Rs 21.30 billion recorded in the corresponding periods in the previous year.

The company PBT of Rs 2.31 billion for the quarter and Rs 3.33 billion for the first six months of 2010/2011 reflect an increase of 1,330 percent and 70 percent above the PBT of Rs 162 million and Rs 1.96 billion in the corresponding periods in the previous year. This PBT includes the gain on the sale of shares of John Keells Hotels PLC (KHL) and Asian Hotels and Properties PLC (AHPL), during the quarter.