Smooth Sailing

Sri Lanka’s John Keells Holdings posted a 12 percent rise in second quarter profits, buoyed by revenues from its transportation unit. Sri Lanka’s John Keells Holdings posted a 12 percent rise in second quarter profits, buoyed by revenues from its transportation unit. Post tax profits for the three months to Sept. 30 rose to Rs. 730 million over a 30 percent rise in revenues of Rs. 7.8 billion, the island’s second largest quoted company said in a statement to the Colombo Stock Exchange on Thursday.

The group has diversified interest in transportation, leisure, financial services, plantations, property development, IT and food and beverages.

The transportation unit brought in a billion rupees in net profits, but the group barely mentions a word about its deed in the Chairman’s review.

Leisure – another lucrative money spinner – posted a Rs. 41 million loss after last year’s tsunami left the group with a US$ 10 million repair bill.

“There are, however, early signs of a revival in the industry with evidence of a gradual increase in occupancies at our resort hotels,” Chairman Vivendra Lintotawela told shareholders.