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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Kingsbury records best ever performance with Rs.300 m PAT

Kingsbury records best ever performance with Rs.300 m PAT

Go down  Message [Page 1 of 1]

Melissa Pereira


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
The Kingsbury PLC, recorded an impressive financial performance for the FY 2014/15, within its second year of operation post-refurbishment.

The company posted a revenue of Rs.2.33 b, a 9% increase from the last year. The profit before tax was a record Rs. 300 mn, its highest ever, almost 9 times of the last year's result of Rs. 34 mn.

Apart from the healthy Gross Profit margins of around 52%, the hotel benefitted from the lower finance costs,with finance cost reducing from Rs.286 mn in FY 2013/14 to Rs. 146 mn during the current year.

The hotel's marketing strategy, positioning Kingsbury as a luxury city hotel in Colombo in many international trade fairs - London, Berlin, Paris & Rome etc. has paved the way for the 229 room hotel to enjoy good occupancy year around, yielding an average of 75% vis-...-vis 69% during the last year. During the year under review, the hotel partnered with William Angliss-Specialist Centre for Hospitality, a Tourism and Culinary Arts Training Institution based in Australia to train its staff to enhance their culinary and soft skills meeting international standards.

The Kingsbury is a recipient of the World Luxury Hotels,in the category of Best Luxury City Hotel in the Indian Ocean. 
Courtesy: Daily News 10 June 2015

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