JKH net profits up 13% in 1 H 2006/07

Group Revenue of John Keells Holdings (JKH) for the six months ended September 30, 2006 increased by 11 per cent to Rs. 15.76 billion. The Profit Attributable to Equity Holders of the Parent for the first half increased by 13 per cent to Rs.1.27 billion.

The Board of Directors of JKH resolved to pay an interim dividend of 10% for the financial year ending March 31, 2007. JKH said that it increased its stake in South Asia Gateway Terminals Limited (SAGT) to 33.75% by acquiring the stake owned by CDC Investment Holdings Limited for a consideration of Rs.3.6 billion. SAGT owns and operates the Queen Elizabeth Quay of the Port of Colombo.

The Group invested $ 12.5 million in Ellaidhoo Tourist Resort, its fifth resort in the Maldives.

In October 2006, JKH placed debentures for a total value of Rs.2.0 billion.