Sri Lanka’s foremost conglomerate, John Keells Holdings (JKH), showed resilient performance in the second quarter as Group EBITDA excluding Leisure grew by 15% and businesses displayed strong recovery momentum.

Company’s Chairman, Krishan Balendra said in his review, Group EBITDA excluding the Leisure industry group was Rs.4.50 billion during the second quarter of the year under review, which is a 15% increase against the previous year [2019/20 Q2: Rs.3.91 billion] and as a result JKH described second quarter performance as resilient.

JKH Group revenue at Rs.32.39 billion for the quarter under review is a decrease of 4% against the comparative period of last year [2019/20 Q2: Rs.33.70 billion]. Cumulative Group revenue for the first half of the year under review at Rs.53.99 billion is a decrease of 17% against the revenue of Rs.65.44 billion recorded in the corresponding period of financial year 2019/20.

Group earnings before interest expense, tax, depreciation and amortisation (EBITDA) at Rs.3.32 billion in the second quarter of the financial year 2020/21 is an 18% decrease against Group EBITDA of Rs.4.02 billion recorded in the previous financial year.

Cumulative Group EBITDA for the first half of the financial year 2020/21 at Rs.4.12 billion is a 46% decrease against the EBITDA of Rs.7.59 billion recorded in the same period of financial year 2019/20.

Group profit before tax (PBT) at Rs.636 million in the quarter under review is a 76% decrease against the Rs. 2.60 billion recorded in the second quarter of 2019/20.

Cumulative PBT for the first half of the financial year 2020/21 at a negative Rs.1.79 billion is a 145% decrease against the PBT of Rs. 3.96 billion recorded in the comparative period of the previous financial year. Profit attributable to equity holders of the parent at Rs.680 million in the quarter under review is a 70% decrease against the comparative quarter [2019/20 Q2: Rs.2.29 billion].

On a cumulative basis, profit attributable to equity holders of the parent is a negative Rs.978 million, a 130% decrease against the comparative period.

Company PBT for the second quarter of 2020/21 at Rs.1.40 billion is a 22% increase against the Rs.1.15 billion recorded in the corresponding period of 2019/20.

Company PBT for the first half of the financial year 2020/21 at Rs.2.31 billion is a 20% decrease against the corresponding period of 2019/20.