28 May, 2013 16:00:37
May 28, 2013 (LBO) - Sri Lanka's John Keells Holdings, which has interests in ports, leisure, finance and consumer goods said profits rose 23 percent to 5.2 billion rupees in the March 2013 quarter partly helped by 2.0 billion rupees in revaluations.
The group reported earnings of 6.08 rupees per share for the quarter. For the year to March the group reported earnings of 14.33 rupees on total profits of 5.2 billion rupees, n accounts filed with the Colombo Stock Exchange.
John Keells Holdings revenues rose 3 percent to 23.3 billion rupees, cost of sales rose 4.0 percent to 17.5 billion rupees and gross profit was flat at 5.8 billion rupees in the quarter from a year earlier.
Results from operating activities fell 20 percent to 2.6 billion rupees.
The group finance income rose 314 percent to 1.39 billion rupees, helped by its insurance business, and there were fair value gains in property of 2.0 billion rupees up 42 percent.
Separately the group reported revaluation gains of 10.4 billion rupees outside the profit and loss account as other comprehensive income.
John Keells transport division which includes a container terminal reported pre after-tax profits of 752 million rupees for the quarter, down from 1,099 a year earlier and leisure reported profits of 2.2 billion rupees up from 2.1 (288 million rupees in fair value gains).
The property segment reported after tax profits of 1.2 billion rupees up from 584 million rupees with 440 million rupees in fair value gains.
Consumer goods and retail reported profits of 1.49 billion rupees including 1.2 billion in fair value gains, slightly down from 1.5 billion rupees a year earlier, financial services 330 million in after tax profits up from 299 million rupees and information technology
Information technology reported profits of 114 million rupees sharply up from 30 million rupees a year earlier.