Sri Lanka’s John Keells Holdings March quarter profits up 11-pct

May 26, 2015 (LBO) – Profits at Sri Lanka’s John Keells Holdings, up 11.55 percent from a year earlier to 5.2 billion rupees in the March 2015 quarter, interim results showed.

The group reported earnings of 5.13 rupees per share. In the year to March it reported earnings of 14.15 rupees per share.

Group revenues rose 0.74 percent to 22.66 billion rupees and cost of sales rose 0.75 percent to 15.9 billion rupees. The group grew gross profit 0.70 percent to 6.74 billion rupees.

Other operating income rose to 1.81 billion rupees, from 1.32 billion rupees a year earlier. Fair value gains from investment property fell to 48.66 million rupees from 470.29 million rupees a year earlier.

Administrative expenses fell 17.85 percent to 1.91 billion rupees.

“Since the Bill (Super Gains Tax) had not been approved by the parliament as at the reporting date, being 31 March 2015, the Group has not provided for the potential liability in the Financial Statements for the year ended 31 March 2015.” the company said.