May 30, Colombo: Sri Lanka's largest hotel operator, John Keells Hotels reported an increase of 48 percent in its profit-before-tax (PBT) for the fourth quarter of 2013 and the financial year ending 31st March 2014.
The hotel group under the umbrella of John Keells Holdings (JKH) recorded that PBT increased to Rs. 1.89 billion from the Rs. 1.28 billion in the previous year, the company disclosed in a stock market release today.
For the financial year 2013/2014 the company posted revenues of Rs.10.97 billion, an increase of 17% over the Rs. 9.34 billion recorded in the previous financial year.
The profit attributable to the equity holders of the parent JKH was Rs. 1.57 billion, a 40 percent increase over the Rs. 1.12 billion reported in the previous financial year.
The company's Sri Lankan resorts center reported revenue of Rs. 4.88 billion, representing a growth of 27 percent over the Rs. 3.83 billion in 2012/13. The Maldivian Resorts sector of the company reported an income of Rs. 6.09 billion representing a growth of 10 percent over 2012/13 year.
John Keells Hotels owns two city hotels in Colombo and 11 resort hotels at prime locations in Sri Lanka and the Maldives.