The performance of the Group during the year was resilient despite the numerous challenges encountered and it was the positive attitude of all people that enabled the Group to navigate through this unprecedented and volatile period.
Ranked 9th, John Keells Holdings witnessed a faster than anticipated recovery momentum with the performance of most businesses reaching pre-COVID-19 levels where business activity and consumer trends were near normal by the end of the financial year.
For the financial year 2020/21, Group revenue decreased by 8 percent to Rs.127.68 billion while recurring Group earnings before interest expense, tax, depreciation, and amortization (EBITDA) decreased by 22 percent to Rs.15.57 billion.
Excluding the Leisure industry group, Group revenue increased by 1 percent to Rs.122.32 billion while, encouragingly, Group recurring EBITDA increased by 8 percent to Rs.19.16 billion, displaying the positive recovery momentum the businesses, where most have reached levels of near normalcy since December 2020 onwards.
The recurring Group profit before tax (PBT) decreased by 56 percent to Rs.5.41 billion. In comparison, the recurring profit attributable to equity holders of the parent decreased by 49 percent to Rs.4.74 billion for the financial year ended 31 March 2021.
Excluding the Leisure industry group, recurring PBT increased by 1 percent to Rs.13.95 billion. In comparison, the recurring profit attributable to equity holders of the parent increased by 3 percent to Rs.10.96 billion.
Investing into a lucrative future
Over the previous few years, the Group has been on an investment heavy cycle, where significant capital has been deployed in Group businesses, which pave the way for transformative growth into the future.
These investments have continued steadfastly, demonstrating the Group’s ‘resilience in investing’.
While the investments had short-term impacts on performance over the last couple of years on account of related expenses, disruptions, and gestation periods, the longer-term benefits are now translating to significant performance impacts in the relevant businesses.
Board of Directors
K N J Balendra
J G A Cooray
Deputy Chairman/Group Finance Director
D A Cabraal
A N Fonseka
M A Omar
M P Perera
S S H Wijayasuriya