Sri Lanka Equity Forum
Dear Reader,

Registration with the Sri Lanka Equity Forum would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
Sri Lanka Equity Forum

Discussion Forum for Stock Market Investors in Sri Lanka

සිංහල පරිවර්තනය
Submit Post
Submit Post

Latest topics

» SFL, where will it end by March
by prabath Today at 9:27 am

» CSE halts trading of MTD Walkers’ shares
by Miss-Sangeetha Today at 7:52 am

» Amibroker database
by Sonny Bill Yesterday at 10:18 am

» KAPI -MTD WALKERS - MALAYASIAN FIRM TO TAKE CONTROL @40 A SHARE
by Miss-Sangeetha Yesterday at 9:42 am

» Financial Reports Q-4 2018
by sikka89 Yesterday at 7:13 am

» Weekly Stock Market Roundup
by Insights Equity Yesterday at 6:07 am

» SFL.P Going to hit 10 Dr.Sentavil Also Bought above 12
by NP Yesterday at 12:51 am

» CROSSINGS TODAY
by sikka89 Fri Feb 15, 2019 10:10 pm

» DIVIDEND ANNOUNCEMENTS- JAN/MARCH 2019
by sikka89 Fri Feb 15, 2019 10:07 pm

» Collect AAIC to win within six months
by wisdom79 Fri Feb 15, 2019 9:27 pm

» ANILANA HOTEL
by wisdom79 Fri Feb 15, 2019 9:21 pm

» Four more banks obtain enjoining orders against KAPI (MTD Walkers)
by Miss-Sangeetha Fri Feb 15, 2019 8:00 pm

» MTD Walkers (KAPI) face liquidation as Hayleys Group firm files winding up petition
by Miss-Sangeetha Fri Feb 15, 2019 7:57 pm

» Daily Stock Market Update
by Insights Equity Fri Feb 15, 2019 5:33 pm

» INSURANCE bubble finally bursting!
by nosf766 Fri Feb 15, 2019 12:46 pm

» CASH RICH REXP
by nishjaya Fri Feb 15, 2019 9:57 am

» Deal Waligama Property to be sell EAST Interesting
by soileconomy Fri Feb 15, 2019 8:13 am

» ACL PERFORMANCE
by Yahapalanaya Fri Feb 15, 2019 7:42 am

» CDB PERFORMANCE
by Yahapalanaya Fri Feb 15, 2019 7:29 am

» LGL LGL LGL LGL
by dmtmadusanka Fri Feb 15, 2019 6:22 am

» MTD WALKERS PLC
by sikka89 Thu Feb 14, 2019 11:15 pm

» Daily Foreign Transactions
by sikka89 Thu Feb 14, 2019 10:31 pm

» CTCE CTCE CTCE CTCE
by roshan1039 Thu Feb 14, 2019 5:31 pm

» Exit KAPI today
by karuna2 Thu Feb 14, 2019 11:17 am

» Sleeping giants-
by anges Wed Feb 13, 2019 11:52 pm

» HEXP hidden gem share
by anges Wed Feb 13, 2019 11:49 pm

» EAST INTERESTING DAYS AHEAD 25+
by NCC Wed Feb 13, 2019 12:30 pm

» why MFL is collecting ?
by suku502 Wed Feb 13, 2019 12:24 pm

» Whats going on with KAPI
by NP Wed Feb 13, 2019 9:43 am

» __________Bank Instrument & Investment Lease And Sales for Global Investments & Financing____
by sakchai Wed Feb 13, 2019 2:27 am

» DIAL is it best to buy
by TuTanKaman Tue Feb 12, 2019 2:34 pm

» Brokers බොරු කියන්නේ
by karuna2 Tue Feb 12, 2019 9:20 am

» BFN 15.60 - 16 - 16.5 මිලට වැටෙන්නේ ඇයි
by karuna2 Tue Feb 12, 2019 9:19 am

» NP HOW ABOUT MBSL CHART
by sanjulanka Tue Feb 12, 2019 7:17 am

» GENUINE BANK GUARANTEE (BG) AND STANDBY LETTER OF CREDIT (SBLC) FOR LEASE AT THE LOWEST RATES AVAILABLE.OTHER FINANCIAL INSTRUMENTS SUCH AS MTN, CD, DLC, PB ARE ALSO AVAILABLE..............
by sakchai Tue Feb 12, 2019 4:21 am

» Financial bank instruments for Lease and sale for trade and project funding
by sakchai Tue Feb 12, 2019 4:20 am

» CTCE ලාභාංශ පුරොකතනය.
by dmtmadusanka Tue Feb 12, 2019 12:01 am

» undervalued stock
by worthiness Mon Feb 11, 2019 2:13 pm

» Malwatte Valley Plantations PLC
by Rookantha Mon Feb 11, 2019 12:56 pm

» Malwatte Plantation
by Rookantha Mon Feb 11, 2019 12:09 pm

You are not connected. Please login or register

Sri Lanka Equity Forum » Stock Market Talk » JKH profits hit by leisure sector slump

JKH profits hit by leisure sector slump

Go down  Message [Page 1 of 1]

1 JKH profits hit by leisure sector slump on Sun Feb 04, 2018 7:23 am

Avinash

Avinash
Senior Equity Analytic
Senior Equity Analytic
John Keells Holdings’ (JKH) profits were hit by its leisure sector decline which saw a profit before tax (PBT) of Rs. 901 million in the third quarter of 2017/18 which is a decrease of 34 per cent over the third quarter of the previous financial year (2016/17 Q3: Rs. 1.36 billion).

The decline in profitability was attributed by the group chairman, Susantha Ratnayake to the hotel sector in his statement. This sector witnessed a decline in occupancies primarily as a result of the increase in room inventory within Colombo. “However, it is encouraging that the total number of rooms occupied in the city witnessed a double-digit growth in the quarter under review. Whilst the Sri Lankan resorts segment recorded an improvement in room rates and maintained occupancies, profit for the quarter under review was lower when compared to the corresponding period of the previous financial year which included the operations of ‘Bentota Beach by Cinnamon’ which is now closed for the construction of a new hotel,” Mr. Ratnayake has said.

The Maldivian resorts segment recorded an improvement in average room rates, although profitability was impacted by lower occupancies and the partial closure of ‘Ellaidhoo Maldives by Cinnamon’ for refurbishments in October 2017. “However, occupancies at our hotels remained above the industry average during the quarter under review,” Mr. Ratnayake has said.

The property industry group PBT of Rs. 34 million in the third quarter of 2017/18 is a decrease of 83 per cent over the third quarter of the previous financial year (2016/17 Q3: Rs. 196 million). “The decline in profitability is on account of the third quarter of the previous year which included recognition of revenue on the ‘7th Sense’ on Gregory’s Road residential development. The construction of Cinnamon Life is progressing well with the super structure approximately 50 per cent complete.”

Parallel to the ongoing construction work of the super structure, the installation of the façade of the hotel will commence shortly, the statement said. Construction work on the main access point via a six lane bridge is nearing completion. The pre-sales of both the residential and commercial space continue to be encouraging, Mr. Ratnayake has added. The concept design for the new 800-apartment joint venture residential development project, ‘Tri-Zen’, in Union Place, Colombo, has been finalised whilst the schematic designs are currently underway. This unique development will target a broader section of the market with apartments offered at attractive price points. Pre-sales have commenced and initial bookings are very encouraging, Mr. Ratnayake has noted.

The group PBT for the first nine months of the financial year 2017/18 at Rs. 14.87 billion is a decrease of 4 per cent over the PBT of Rs. 15.48 billion recorded in the same period of the previous financial year he has said. The group PBT at Rs. 5.83 billion in the third quarter of the financial year 2017/18 is a decrease of 13 per cent over the Rs. 6.72 billion recorded in the corresponding period of the previous financial year.

“The profit attributable to shareholders in the first nine months at Rs. 11.06 billion is a decrease of 2 per cent over the corresponding period of the previous financial year while the Rs. 4.49 billion recorded in the third quarter is a decrease of 13 per cent over the previous year,” Mr. Ratnayake has said.

The cumulative revenue for the first nine months of the financial year 2017/18 in the group at Rs. 87.66 billion is an increase of 15 per cent over the revenue of Rs. 76.43 billion recorded in the same period of the previous financial year he has said. The revenue at Rs. 31.22 billion for the quarter under review is a 12 per cent increase over the Rs. 27.94 billion recorded in the previous financial year.

The company’s PBT for the first nine months of the financial year 2017/18 at Rs. 7.90 billion is an increase of 7 per cent over the previous financial year. The company PBT for the third quarter of 2017/18 at Rs. 2.36 billion is a decrease of 16 per cent over the Rs. 2.83 billion recorded in the corresponding period of 2016/17.

Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum