JHK posts Rs 36.55 bn revenue for 3Q | Daily News

JHK posts Rs 36.55 bn revenue for 3Q

Chairman, JKH, Krishan Balendra
Chairman, JKH, Krishan Balendra

John Keells Holdings PLC (JKH) posted revenue at Rs.36.55 billion for the third quarter of the financial year 2018/19 showing a 17% 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 is an increase of 13% over the revenue of Rs.87.66 billion recorded in the same period of the previous financial year, said Chairman, JKH, Krishan Balendra.

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% over the corresponding period of the previous financial year, whilst the first nine months performance at Rs.12.08 billion is an increase of 9% over the previous year.

The Group profit before tax (PBT) at Rs.5.63 billion in the third quarter of the financial year is a decrease of 3% over the Rs.5.83 billion recorded in the corresponding period of the previous financial year.

The Group PBT for the first nine months at Rs.13.23 billion is a decrease of 1% over the PBT of Rs.14.87 billion recorded in the same period of the previous financial year.

The Company PBT for the third quarter at Rs.3.76 billion is an increase of 59% over the Rs.2.36 billion recorded in the corresponding period.

The Company PBT for the first nine months of the financial year at Rs.8.81 billion is an increase of 11% over the previous financial year.

The transportation industry group PBT of Rs.1.10 billion in the third quarter is an increase of 16% over the third quarter of the previous financial year. The increase is on account of the performance of the Group’s Ports and Shipping business, South Asia Gateway Terminals (SAGT).

The Group’s Bunkering business, Lanka Marine Services, recorded a 9% growth.

The Consumer Foods industry group PBT of Rs.332 million in the third quarter is a decrease of 36% over the third quarter of the previous financial year. The retail industry group PBT of Rs.159 million in the third quarter.

In one of the most detailed ground surveys carried out, 44.1% concluded they prefer to invest in Real Estate; 33.9% preferred to invest in Fixed Deposits; while 22% indicated their preference towards investing in Stocks & Trusts.

As 2019 begins, there is a reaffirmation that Real Estate continues to grow in Sri Lanka, with FDI involvement, global travel & tourism increases and steady development of the nations infrastructure.

Speaking with Sales & Marketing Director, Capitol Developers (member of the Sanken Group), Rohith Dissanayake, “There is no denying that in the final quarter of 2018 there was a dip of demand.

However, with the need for rental properties arising from the knock-on effect of the Port City, continued global interest continued towards luxury apartments.”

“Backed by the strength of the Sanken Group, which has contributed to approximately 70% of Colombo’s residential, commercial and mixed-development projects, the group’s - Capitol TwinPeaks stands as a testament to this as we have sold over 50% of the 438 twin-tower project.”

Head of Sales and Marketing, Elysian Realty Pvt. Ltd, Buddhika Jayasinghe noted there is a deamnd for Southern luxury properties as well. “Our project in Mirissa has had increasing interest mainly due to its investment value of high capital gains and expected rental yields. There is a general move in trend to seek out investment properties that also offer a resort-lifestyle.”

According to the Sri Lanka Tourism Development Authority, Sri Lanka ended 2018 with 2.33 million tourists, up by 10.3% over 2017. With increasing international interest from the business markets, the demand for both residential and commercial properties are predicted to rise within the next few years with IMF’s 2018 report confirming Sri Lanka, now to be classified as a Middle Income Country. As the country continues to stabilise, there is no denying the investment potential available, particularly in real estate”.

A 2018 survey conducted in partnership by Lanka Property Web Real-estate Intelligence Unit (RIU) indicates that the majority of Sri Lankans prefer to invest in Real Estate, in comparison to the stock market or opting for bank savings.

In one of the most detailed ground surveys carried out, 44.1% concluded they prefer to invest in Real Estate; 33.9% preferred to invest in Fixed Deposits; while 22% indicated their preference towards investing in Stocks and Trusts.

As 2019 begins, there is a reaffirmation that Real Estate continues to grow in Sri Lanka, with FDI involvement, global travel & tourism increases and steady development of the nation’s infrastructure.


 

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