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Thursday, January 27, 2011

Sri Lanka JKH says net profits rose 54-pct in Dec

Jan 28, 2011 (LBO) - Sri Lanka's John Keells group said net profits for the December 2010 quarter rose 54 percent to 1.75 billion rupees with revenues growing 22 percent to 15.6 billion from a year earlier, driven by gains across sectors.

Gross margins were up 30 percent to 4.1 billion rupees and finance costs fell 46 percent to 176 million rupees as interest rates in the country eased.

Earnings per share were reported at 2.77 rupees for the quarter and 8.98 for the nine months to December. The nine month profit was 5.6 billion rupees up 141 percent, including non-recurring gains on share sales.

Chairman Susantha Ratnayake told shareholder that non-recurring gains were up 65 percent for the nine months.

In the quarter, transport, which includes the Colombo port terminal South Asia Gateway Terminals reported pre tax profits up 21 percent to 611 million rupees.

Hotels gave a pre-tax return of 632 million rupees up 90 percent, property returned 222 million rupees up 224 percent, consumer foods and retail returned 156 million rupees up 103 percent and financial services 528 million rupees up 49 percent.

Information technology returned 14 million rupees up from 4 million rupees a year earlier.

source - www.lbo.lk