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JKH net profit dips by 13% in q3

2018-Feb-01 by  News Admin  

John Keells Holdings said group net profit has fallen 13% to Rs 4.49 billion in the December 2017 quarter from the previous year.

The Group profit before tax (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 Chairman, Susantha Ratnayake 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. The Company 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. The transportation industry group PBT of Rs.945 million in the third quarter of 2017/18 is an increase of 12 per cent over the third quarter of the previous financial year [2016/17 Q3: Rs 845 million].

The leisure industry group PBT of Rs 901 million in the third quarter of 2017/18 is a decrease of 34 per cent over the third quarter of the previous financial year [2016/17 Q3: Rs 1.36 billion].

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.

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 Consumer Foods and Retail industry group PBT of Rs 947 million in the third quarter of 2017/18 is a decrease of 26 per cent over the third quarter of the previous financial year [2016/17 Q3: Rs 1.29 billion]. The Financial Services industry group PBT of Rs 1.54 billion in the third quarter of 2017/18 is an increase of 35 per cent over the third quarter of the previous financial year [2016/17 Q3: Rs 1.14 billion].

Sources : dailynews 

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