JKH first half profits up

Profit attributable to equity holders of JKH up by 45 per cent to Rs. 1.85 billion in the first half of FY 2007-08.

Group revenue for the six months ended September 30, 2007 increased by 16 per cent to Rs. 18.14 billion.

Profit before tax for the six months ended September 30, 2007 increased by 34 per cent to Rs. 2.37 billion.

After discussions and agreement between John Keells Hotels PLC (KHL) and the Confifi Group, KHL announced voluntary offers to acquire 100 per cent of the issued shares of each of the three listed hotel companies operated under the Confifi Group, namely, Riverina Hotels PLC (Riverina), Eden Hotel Lanka PLC (Eden) and Confifi Hotel Holdings PLC (Confifi - owning company of Palm Gardens Hotel).

“The Monarch” development is nearing completion and handover to owners is expected in December 2007. The BPO business recently concluded a contract leading to 500 seats, a press release said.