|
|
|
| Sunday, 24 July 2005 |
 |
|
 |
Business |  |
| News Business Features Editorial
|
JKH profits drop in first quarter John Keells Holdings (JKH) Group Profit Before Taxation for the first quarter at Rs 603 million was below that of the previous year of Rs 759 million by 21 per cent mainly as a result of the lower than previous year performance of the tsunami affected Leisure Group. Following the tsunami in December 2004 and a tsunami warning in March 2005, arrivals in the Leisure sector during the first quarter were significantly lower than in the same period last year. However, Food and Beverage, Financial Services and Transportation performed better than last year. Group Revenue grew by 6 per cent from Rs 6.0 billion to Rs 6.4 billion and the Profit Attributable to the Group at Rs 388 million was 27 per cent below the Rs 528 million recorded in the corresponding quarter of the previous year. This decline was a result of the lower Profit Before Tax and an increase in effective taxation from 16.8 per cent in the first quarter 2004/2005 to 26.7 per cent in the same period this year as a result of the change in accounting treatment of tax on dividends received in the consolidated accounts and the disallowing of specified expenditure in tax computations because of changes to tax legislation. |
|
| News | Business | Features
| Editorial | Security
| Produced by Lake House |
