JKH result out

Harry82 · 1 JKH result out Fri Jul 26, 2013 4:59 pm

Harry82

Senior Vice President - Equity Analytics

Posts : 2365
Equity Stars : 8970
Reputation : 54
Join date : 2012-01-18
Age : 42
Location : Colombo

JKH result out.

Then what about NTB???

sriranga · 2 Sri Lanka's JKH net down 4-pct in June quarter Fri Jul 26, 2013 5:13 pm

sriranga

Co-Admin

Posts : 6822
Equity Stars : 23227
Reputation : 2855
Join date : 2011-02-01
Location : London

July 26, 2013 (LBO) - Sri Lanka's John Keells Holdings, a diversified group said profits fell 4.0 Percent to 1.58 billion rupees in the June 2013 quarter from a year earlier on weaker leisure and transport profits despite stronger interest income.

The group reported earnings of 1.85 rupees per share in the quarter in interim accounts filed with the Colombo Stock Exchange.

Revenue was flat at 20 billion rupees, cost of sales edged up slightly and gross profits fell 1 percent to 5.0 billion rupees. Operating expenses also edged up trimming operating profits 14 percent to 1.47 billion rupees.

Group net finance income doubled to 953 million rupees.

But profits from leisure fell to 394 million rupees from 603 million rupees a year earlier.

Chairman Susantha Ratnayake told shareholders said there was a forex loss on borrowings and Cinnamon Bey, a new resort was yet to be established in the market.

"Whilst overall tourism arrivals to the country continue to demonstrate growth, they have not translated into room nights in the star category hotels," he said.

"This, we believe, is the result of a combination of the economic issues in Europe and the lack of a focused destination marketing and branding strategy.

"However, occupancy continued to be strong in the City Hotels where we increased our market share, while the Maldivian Resorts sector performed well benefitting from higher average room rates and increased occupancies."

The company was going ahead with an 650 million dollar plus 'integrated resort' with a luxury hotel, apartments, entertainment and gaming.
Transport, which included a container terminal and bunkering fell to 703 million rupees from 885 million rupees.

Ratnayake said bunkering volumes fell, margins and margins were trimmed. In ports, logistics and airlines, revenues and volumes were lower.

Consumer foods and retail profits fell to 184 million rupees from 264 million. Ratnayake said bad weather and lower spending power reduced soft drink and ice cream sales.

Most of the retail outlets had seen a growth in the quarter, Ratnayake said.

Property profits rose to 125 million rupees from 42.0 million rupees, with 80 percent of the 37-storey OnThree20 apartment complex being sold. Construction of '7th Sense' on Gregory's road has started with 50 percent of the units sold.

Information technology posted a strong 52 million rupees in profits up from barely breakeven a year earlier.

Update II
http://www.lankabusinessonline.com/news/sri-lankas-jkh-net-down-4-pct-in-june-quarter/1325584285