May 23, 2012 (LBO) - Profits at Sri Lanka's John Keells group rose 61 percent to 4.0 billion rupees in the March 2012 quarter from a year earlier, helped by a 1.4 billion rupees fair value gain on property, interim accounts showed.
The group reported earnings of 4.80 rupees per share for the quarter. The stock closed at 196.0 rupees down 6.10 rupees Wednesday.
In the year to March 2012 JKH reported earnings of 11.62 rupees per share on profits of 9.77 billion rupees, up 19 percent.
In the March quarter gross profits rose 34 percent to 5.7 billion rupees and other operating income rose 42 percent to 1.5 billion rupees. The cash rich JKH group has 24 billion rupees in short term investments.
In the March quarter profits from the transportation sector which includes a port terminal rose to 1.01 billion rupees from 932 million rupees a year earlier.
Leisure profits rose to 1.55 billion rupees from 1.22 billion rupees, property to 461 million rupees from 223 million and consumer and retail to 1.2 billion rupees from 42 million helped by fair value gains.
Financial services profits rose to 101 million rupees from 28 million and information technology returned to a 28.5 million rupee profit in the quarter from a 16.8 million loss a year earlier.
Unspecified other business lost 335 million rupees, compared to a profit of 85 million rupees.
source - www.lbo.lk
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