John Keells Holdings PLC posted a profit before tax (PBT) of Rs.6.72 billion in the third quarter of the financial year 2016/17 which is an increase of 31 per cent over the Rs.5.15 billion recorded in the corresponding period of the previous financial year.
The Group PBT for the first nine months of the financial year 2016/17 at Rs.15.48 billion is an increase of 22 per cent over the PBT of Rs.12.72 billion recorded in the same period of the previous financial year.
The profit attributable to shareholders for the third quarter at Rs.5.15 billion is an increase of 32 per cent over the previous year, whilst the first nine months performance at Rs.11.29 billion is an increase of 18 per cent over the corresponding period of the previous financial year.
The revenue at Rs.27.94 billion for the quarter under review is a 12 per cent increase over the Rs.24.86 billion recorded in the previous financial year. The cumulative revenue for the first nine months of the financial year 2016/17 at Rs.76.43 billion is an increase of 11 per cent over the revenue of Rs.68.72 billion recorded in the same period of the previous financial year. The Company PBT for the third quarter of 2016/17 at Rs.2.83 billion is an increase of 6 per cent over the Rs.2.67 billion recorded in the corresponding period of 2015/16.
The Company PBT for the first nine months of the financial year 2016/17 at Rs.7.42 billion is a decrease of 32 per cent over the previous financial year, which included a capital gain of Rs.3.10 billion arising from the share repurchase of Union Assurance PLC, recorded in the same period of the previous financial year. The Transportation industry group PBT of Rs.845 million in the third quarter of 2016/17 is an increase of 100 per cent over the third quarter of the previous financial year.
The significant increase in profitability is mainly attributable to the Group’s Ports and Shipping, and Bunkering businesses. During the calendar year 2016, the Port of Colombo witnessed a year on year growth of 11 per cent whilst South Asia Gateway Terminals (SAGT) recorded growth in throughput of 19 per cent. Profitability of the Group’s Bunkering business increased as a result of double digit growth in volumes and improved margins.
The Leisure industry group PBT of Rs.1.36 billion in the third quarter of 2016/17 is an increase of 12 per cent over the third quarter of the previous financial year.
Profitability in the City Hotel sector and Sri Lankan Resorts segment increased as a result of improved occupancy coupled with operational efficiencies and resulting cost savings.
Profitability in the Maldivian Resorts segment recorded an increase driven by higher occupancy as a result of focused volume driven strategies in the European markets. The Property industry group PBT of Rs.196 million in the third quarter of 2016/17 is a decrease of 65 per cent over the third quarter of the previous financial year [2015/16 Q3: Rs.558 million]. The Consumer Foods and Retail industry group PBT of Rs.1.29 billion in the third quarter of 2016/17 is an increase of 19 per cent over the third quarter of the previous financial year.
The Financial Services industry group PBT of Rs.1.14 billion in the third quarter of 2016/17 is an increase of 17 per cent over the third quarter of the previous financial year.
The Information Technology industry group PBT of Rs.195 million in the third quarter of 2016/17 is a significant increase over the third quarter of the previous financial year recorded an improvement in profitability due to improved tea prices and other operational efficiencies. The Group reported an increase of 4.7 per cent in its carbon footprint to 20,088 MT and a 0.4 per cent increase in water withdrawal to 497,023 cubic meters, mainly due to increased operational activity in the Consumer Foods and Retail industry group. The Company paid a first interim dividend for the financial year 2016/17 in October 2016, amounting to Rs.2.00 per share.
0 comments: