JKH Group revenue increases 17% | Sunday Observer

JKH Group revenue increases 17%

Chairman Krishan Balendra
Chairman Krishan Balendra

John Keells Holdings in a media release last week stated that the revenue at Rs.36.55 billion for the third quarter of the financial year 2018/19 was a 17 percent increase over the Rs.31.22 billion recorded in the previous financial year.

The cumulative revenue for the first nine months of the financial year 2018/19 at Rs.99.28 billion was an increase of 13 per cent over the revenue of Rs. 87.66 billion recorded in the same period of the previous financial year.

The profit attributable to equity holders in the third quarter of the financial year 2018/19 at Rs. 4.80 billion is an increase of 7 per cent over the corresponding period of the previous financial year, while the first nine months performance at Rs. 12.08 billion was an increase of 9 per cent over the previous year. The Group earnings before interest, tax, depreciation and amortisation (EBITDA) at Rs. 5.85 billion in the third quarter of the financial year 2018/19 is an increase of 2 per cent over the Rs. 5.74 billion recorded in the corresponding period of the previous financial year. The Group EBITDA for the first nine months of the financial year 2018/19 at Rs. 14.68 billion was a decrease of 2 per cent over the EBITDA of Rs. 15.04 billion recorded in the same period of the previous financial year.

Group profit before tax (PBT) at Rs. 5.63 billion in the third quarter of the financial year 2018/19 was a decrease of 3 per cent over the Rs. 5.83 billion recorded in the corresponding period of the previous financial year. The Group PBT for the first nine months of the financial year 2018/19 at Rs.13.23 billion was a decrease of 11 per cent over the PBT of Rs. 14.87 billion recorded in the corresponding period of the previous financial year.

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• Performance of the port and shipping business, South Asia Gateway Terminals (SAGT), boosts Transportation profitability

• Frozen Confectionery business seeing growth driven by impulse volumes and Beverage business showing early signs of recovery

• Supermarkets business gaining momentum post re-branding with recurring EBITDA growth

• While City Hotels performance was impacted by a sharp increase in room supply and political volatility during the quarter, Sri Lanka and Maldives Resorts show improvement in recurring profitability

• Launch of Tri-Zen project in January 2019 will positively impact Property performance from June 2019 quarter

• Financial Services impacted by marked to market losses at Union Assurance PLC due to decline in stock market

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