Strong Consumer Demand Propels JKH 4Q Profits Beyond Pre-Pandemic Levels

Reports earnings of Rs.3.60 a share or Rs.4.8bn for 4Q21 against Rs.2.83 a share or Rs.3.73bn 4Q20. Reports earnings of Rs.3.62 a share or Rs.4.8bn for FY21 against Rs.7.14 a share or Rs.9.4bn in FY20

John Keells Holdings PLC reported robust revenues and profits for the three months ended March 31, 2021 (4Q21) barring the leisure sector on a resurgent economy, as its multiple business segments reached pre-pandemic levels, while its frozen confectionary sales hit a record high in March, reflecting improved consumer demand.

The corporate heavyweight with its presence in a number of industries, reported revenues of Rs.38.8 billion for the quarter under review, up 5 percent year-on-year (YoY).

However, the top-line surged 17 percent to Rs.36.15 billion barring leisure sector, of which the Sri Lankan section is still reeling, while the Maldivian resorts have fast recovered from the pandemic-induced restrictions on travel and tourism.

Maldivian resorts have now set their eyes on a complete recovery in earnest due to, “encouraging,” forward booking as they are already looking past the pandemic.

“The group witnessed a faster than anticipated recovery momentum with the performance of most businesses reaching pre-COVID-19 levels with business activity and consumer trends being near normal by the end of the financial year,” JKH said in a statement.