1. John Keells Holdings

VIEWS (3755)

John Keells Holdings (JKH) ranks at number one in the Business Today TOP 30 for the financial year 2015-2016. Having first secured this position in 1999, JKH has continued its growth momentum claiming a firm hold as the corporate leader of Sri Lanka. While the Group recorded a revenue of 93.28 billion rupees, showing an increase of two per cent, PAT was 15.79 billion rupees. JKH continues to make investments that will result in a sustainable long term future.

The leisure industry group continues to be the main contributor to the Group's revenue and PAT. Leisure recorded a revenue of 24.31 billion rupees, which was a four per cent increase from the previous year. The year saw all properties completing their rebranding. Sri Lankan resorts recorded a two per cent growth, which can be attributed to the strategies employed that included customising the product for the Chinese market. The city hotel sector recorded a four per cent growth. Maldivian resorts saw a decline of three per cent, which was mainly due to global conditions.

The transportation industry group reported PAT of 2.45 billion rupees, contributing 16 per cent to the total. While South Asia Gateway Terminals saw a decline in volume, overall the volume of the Colombo Port continued to grow, which indicates increased activity in the future, as such JKH will also look at developing the East Terminal to cater to rising demand. The property industry group recorded a revenue of 4.34 billion rupees and a PAT of 1.59 billion rupees. JKH increased its shareholding on Rajawella Holdings from 17 per cent to 51 per cent, which was a total investment commitment of 1.04 billion rupees.

By focusing on service quality, product offering and consumer awareness, the consumer foods and retail industry group was able to record a strong performance during the financial year. Other sectors including plantation services was impacted by the political and economic conditions in the key tea exporting markets.

With the Government's economic policy looking more at public-private partnerships as well as greater involvement of the private sector, JKH will be able to maximise on these opportunities. It will need to set an example to the private sector of Sri Lanka. Susantha Ratnayake completed ten years as Chairman and continues to drive the group on a steady growth trajectory.