Premier blue chip John Keells Holdings Plc yesterday reported a Group profit before tax (PBT) of Rs. 5.17 billion in the in the second quarter of the financial year 2016/17, up by 14% from an year earlier. 

The cumulative PBT for the first half was Rs.8.75 billion, up by 16%.

JKH’s bottom line grew by 8% to Rs. Rs.3.77 billion in 2Q and by 9% to Rs. 6.14 billion for the first half.

Group revenue was Rs.25.76 billion in 2Q reflecting a 13% growth whilst in the first half it grew by 11% to Rs. 43.86 billion.

At Company level PBT for 2Q was down by 65% to Rs. 1.74 billion and lower by 44% in first half to Rs. 

Rs.4.59 billion. Last year JKH benefited from a capital gain of Rs.3.10 billion arising from the share repurchase of Union Assurance PLC.

The Transportation industry group PBT of Rs.668 million in 2Q was down 18% whilst the Leisure industry group PBT grew by 54% to Rs.1.36 billion. The Property industry group PBT was down by 81% to Rs. Rs.52 million.

The Consumer Foods and Retail industry group PBT of Rs.1.60 billion was a 55% growth with both sectors contributing to the improved performance.

The Financial Services industry group PBT grew by 18% to Rs. Rs.244 million and that of the Information Technology industry shot up to Rs. 162 million from Rs. 23 million a year earlier.

Other, comprising of the Holding Company and other investments, and the Plantation Services sector recorded a PBT of Rs.1.08 billion down by 16%.

Krishan, Gihan appointed to JKH Board

John Keells Holdings (JKH) yesterday announced the appointments of Krishan Balendra and Gihan Cooray as Directors of the Company with effect from 5 November.

Chairman Susantha Ratnayake said the appointments are in line with the plans of succession of the current Executive Directors who will be retiring shortly. 

Deputy Chairman Ajit Gunewardene and Group Finance Director Ronnie Peiris will be retiring at the end of December 2017 and Ratnayake will be retiring at the end of December 2018.

The Chairman said that the Group has, over the years, developed a substantial pool of young, talented individuals and that the depth of leadership augurs well for the Group’s future.

Balendra is currently the President of the Leisure Industry Group and is also the Chairman of Nations Trust Bank PLC.

Cooray is currently the President of the Retail Sector. He is also responsible for the Corporate Finance/Strategy and Group Treasury functions, John Keells Capital – the investment banking arm of the Group and John Keells Research. He is also a Non-Executive Director of Nations Trust Bank PLC.