JKH posts good results in FY16

John Keells Group has recorded an increase in Profit Before Tax by 3% to Rs. 19.20 billion for the financial year 2015/16, while recurring Profit Before Tax increased by 10% to Rs.18.94 billion. Meanwhile, Group revenue increased by 2% to Rs. 93.28 billion.

Profit attributable to equity holders of the parent decreased 2% to Rs. 14.07 billion, while recurring profit attributable to equity holders of the parent increased by 5% to Rs. 13.85 billion.

Net cash flow from operating activities was Rs. 20.51 billion and cash earnings per share increased by 8% to Rs. 16.14.

Group revenue increased marginally by 2% to Rs. 93.28 billion and 1% to Rs. 25.36 billion for the 12 months and quarter ending 31 March 2016, respectively. Revenue growth was impacted by the substantial decrease in oil prices affecting revenues in the Bunkering business and from the divestment of the General Insurance business in 2014/15.

The Group recurring Profit Before Tax (PBT), which excludes the impact of fair value gains on investment property and the capital gain on the disposal of General Insurance business, increased by 10% to Rs.18.94 billion for the financial year 2015/16 while the recurring PBT for the quarter ended 31 March 2016 increased by 9% to Rs.6.22 billion, demonstrating a robust underlying business performance.

JKH said the Group’s Integrated Annual Report will be released next week.