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» අනං මනං! #/+?.<>
JOHN KEELLS HOLDINGS (JKH.N : LKR179.0; JKH.W0023 : LKR35.70)------Softlogic Equity Research EmptyYesterday at 8:18 pm by ruwan326

» Dividend Announcement
JOHN KEELLS HOLDINGS (JKH.N : LKR179.0; JKH.W0023 : LKR35.70)------Softlogic Equity Research EmptyYesterday at 6:04 pm by Ethical Trader

» Browns Investments update
JOHN KEELLS HOLDINGS (JKH.N : LKR179.0; JKH.W0023 : LKR35.70)------Softlogic Equity Research EmptyYesterday at 1:46 pm by The Invisible

» What Would You Do?
JOHN KEELLS HOLDINGS (JKH.N : LKR179.0; JKH.W0023 : LKR35.70)------Softlogic Equity Research EmptyMon Aug 19, 2019 1:02 pm by කිත්සිරි ද සිල්වා

» Back of the Legends
JOHN KEELLS HOLDINGS (JKH.N : LKR179.0; JKH.W0023 : LKR35.70)------Softlogic Equity Research EmptyMon Aug 19, 2019 10:13 am by Topcat

» Thread for News on Local and Foreign Politics
JOHN KEELLS HOLDINGS (JKH.N : LKR179.0; JKH.W0023 : LKR35.70)------Softlogic Equity Research EmptyMon Aug 19, 2019 6:32 am by ruwan326

» NTB.N0000 (NATIONS TRUST BANK PLC)
JOHN KEELLS HOLDINGS (JKH.N : LKR179.0; JKH.W0023 : LKR35.70)------Softlogic Equity Research EmptySun Aug 18, 2019 10:33 pm by lanka

» Melstacorp (MELS)
JOHN KEELLS HOLDINGS (JKH.N : LKR179.0; JKH.W0023 : LKR35.70)------Softlogic Equity Research EmptySun Aug 18, 2019 8:33 pm by The Invisible

» Cargills (CARG)
JOHN KEELLS HOLDINGS (JKH.N : LKR179.0; JKH.W0023 : LKR35.70)------Softlogic Equity Research EmptySun Aug 18, 2019 8:26 pm by The Invisible

» DOCK.N0000 (COLOMBO DOCKYARD PLC)
JOHN KEELLS HOLDINGS (JKH.N : LKR179.0; JKH.W0023 : LKR35.70)------Softlogic Equity Research EmptySun Aug 18, 2019 8:18 pm by The Invisible

» SHL.N0000 (Softlogic Holdings PLC)
JOHN KEELLS HOLDINGS (JKH.N : LKR179.0; JKH.W0023 : LKR35.70)------Softlogic Equity Research EmptySun Aug 18, 2019 8:14 pm by The Invisible

» SAMP.N0000 (SAMPATH BANK PLC)
JOHN KEELLS HOLDINGS (JKH.N : LKR179.0; JKH.W0023 : LKR35.70)------Softlogic Equity Research EmptySat Aug 17, 2019 12:44 pm by nuwanmja

» Hayleys MGT
JOHN KEELLS HOLDINGS (JKH.N : LKR179.0; JKH.W0023 : LKR35.70)------Softlogic Equity Research EmptyFri Aug 16, 2019 8:55 pm by ruwan326

» CFVF - First Capital
JOHN KEELLS HOLDINGS (JKH.N : LKR179.0; JKH.W0023 : LKR35.70)------Softlogic Equity Research EmptyFri Aug 16, 2019 9:58 am by CK

» JINS.N0000 ( Janashakthi Insurance PLC)
JOHN KEELLS HOLDINGS (JKH.N : LKR179.0; JKH.W0023 : LKR35.70)------Softlogic Equity Research EmptyWed Aug 14, 2019 4:57 pm by The Invisible

» Thread for News on CSE and SL Economy
JOHN KEELLS HOLDINGS (JKH.N : LKR179.0; JKH.W0023 : LKR35.70)------Softlogic Equity Research EmptyWed Aug 14, 2019 9:22 am by The Invisible

» Ceylinco Insurance CINS
JOHN KEELLS HOLDINGS (JKH.N : LKR179.0; JKH.W0023 : LKR35.70)------Softlogic Equity Research EmptyWed Aug 14, 2019 9:18 am by The Invisible

» HNB.N0000 ( Hatton National Bank PLC)
JOHN KEELLS HOLDINGS (JKH.N : LKR179.0; JKH.W0023 : LKR35.70)------Softlogic Equity Research EmptyWed Aug 14, 2019 9:15 am by The Invisible

» NDB.N0000 (NATIONAL DEVELOPMENT BANK PLC)
JOHN KEELLS HOLDINGS (JKH.N : LKR179.0; JKH.W0023 : LKR35.70)------Softlogic Equity Research EmptyWed Aug 14, 2019 9:11 am by The Invisible

» Tourism Sector
JOHN KEELLS HOLDINGS (JKH.N : LKR179.0; JKH.W0023 : LKR35.70)------Softlogic Equity Research EmptyWed Aug 14, 2019 4:55 am by NIRMALSG

» LIOC.N0000 (Lanka IOC PLC)
JOHN KEELLS HOLDINGS (JKH.N : LKR179.0; JKH.W0023 : LKR35.70)------Softlogic Equity Research EmptyMon Aug 12, 2019 2:55 pm by xmart

» HAYL.N0000 Hayleys PLC
JOHN KEELLS HOLDINGS (JKH.N : LKR179.0; JKH.W0023 : LKR35.70)------Softlogic Equity Research EmptyMon Aug 12, 2019 1:43 pm by CK

» PABC.N0000 (Pan Asia Banking Corporation PLC)
JOHN KEELLS HOLDINGS (JKH.N : LKR179.0; JKH.W0023 : LKR35.70)------Softlogic Equity Research EmptyMon Aug 12, 2019 1:33 pm by The Invisible

» Grain Elevators
JOHN KEELLS HOLDINGS (JKH.N : LKR179.0; JKH.W0023 : LKR35.70)------Softlogic Equity Research EmptyMon Aug 12, 2019 1:31 pm by The Invisible

» Sri Lanka sets US$3.5bn tea export target for 2030
JOHN KEELLS HOLDINGS (JKH.N : LKR179.0; JKH.W0023 : LKR35.70)------Softlogic Equity Research EmptyMon Aug 12, 2019 1:27 pm by The Invisible

» Tea: July 2019 national average shows gains month on month
JOHN KEELLS HOLDINGS (JKH.N : LKR179.0; JKH.W0023 : LKR35.70)------Softlogic Equity Research EmptySun Aug 11, 2019 9:19 pm by Topcat

» OSEA .N
JOHN KEELLS HOLDINGS (JKH.N : LKR179.0; JKH.W0023 : LKR35.70)------Softlogic Equity Research EmptySat Aug 10, 2019 6:40 pm by The Invisible

» Sri Lanka mulls reforms to punish 'errant' plantation companies
JOHN KEELLS HOLDINGS (JKH.N : LKR179.0; JKH.W0023 : LKR35.70)------Softlogic Equity Research EmptySat Aug 10, 2019 6:33 pm by The Invisible

» JKH.N0000
JOHN KEELLS HOLDINGS (JKH.N : LKR179.0; JKH.W0023 : LKR35.70)------Softlogic Equity Research EmptySat Aug 10, 2019 11:38 am by The Invisible

» HHL.N0000 ( Hemas Holdings PLC)
JOHN KEELLS HOLDINGS (JKH.N : LKR179.0; JKH.W0023 : LKR35.70)------Softlogic Equity Research EmptySat Aug 10, 2019 10:42 am by The Invisible

» Nestle NEST
JOHN KEELLS HOLDINGS (JKH.N : LKR179.0; JKH.W0023 : LKR35.70)------Softlogic Equity Research EmptySat Aug 10, 2019 10:28 am by The Invisible

» Ceylon Tobacco CTC
JOHN KEELLS HOLDINGS (JKH.N : LKR179.0; JKH.W0023 : LKR35.70)------Softlogic Equity Research EmptySat Aug 10, 2019 10:26 am by The Invisible

» Volkswagen කතාවේ ඇත්ත තත්ත්වය මෙහෙමයි.
JOHN KEELLS HOLDINGS (JKH.N : LKR179.0; JKH.W0023 : LKR35.70)------Softlogic Equity Research EmptyFri Aug 09, 2019 5:37 pm by කිත්සිරි ද සිල්වා

» LLUB.N0000 (CHEVRON LUBRICANTS LANKA PLC)
JOHN KEELLS HOLDINGS (JKH.N : LKR179.0; JKH.W0023 : LKR35.70)------Softlogic Equity Research EmptyFri Aug 09, 2019 5:07 pm by Ethical Trader

» VFIN - where the journey leads it?
JOHN KEELLS HOLDINGS (JKH.N : LKR179.0; JKH.W0023 : LKR35.70)------Softlogic Equity Research EmptyFri Aug 09, 2019 9:21 am by ruwan326

» UAL.N0000 ( UNION ASSURANCE PLC )
JOHN KEELLS HOLDINGS (JKH.N : LKR179.0; JKH.W0023 : LKR35.70)------Softlogic Equity Research EmptyFri Aug 09, 2019 9:20 am by ruwan326

» SPEN.N0000
JOHN KEELLS HOLDINGS (JKH.N : LKR179.0; JKH.W0023 : LKR35.70)------Softlogic Equity Research EmptyThu Aug 08, 2019 10:20 pm by The Invisible

» Lanka Tiles
JOHN KEELLS HOLDINGS (JKH.N : LKR179.0; JKH.W0023 : LKR35.70)------Softlogic Equity Research EmptyThu Aug 08, 2019 10:15 pm by The Invisible

» Expolanka
JOHN KEELLS HOLDINGS (JKH.N : LKR179.0; JKH.W0023 : LKR35.70)------Softlogic Equity Research EmptyThu Aug 08, 2019 8:28 pm by ruwan326

» Tile - Snapshot
JOHN KEELLS HOLDINGS (JKH.N : LKR179.0; JKH.W0023 : LKR35.70)------Softlogic Equity Research EmptyThu Aug 08, 2019 11:37 am by mymoney

» DPL.N0000 (Dankotuwa Porcelain PLC)
JOHN KEELLS HOLDINGS (JKH.N : LKR179.0; JKH.W0023 : LKR35.70)------Softlogic Equity Research EmptyThu Aug 08, 2019 11:31 am by mymoney

» නිරුවත
JOHN KEELLS HOLDINGS (JKH.N : LKR179.0; JKH.W0023 : LKR35.70)------Softlogic Equity Research EmptyThu Aug 08, 2019 9:36 am by කිත්සිරි ද සිල්වා

» HAYC - Haycarb
JOHN KEELLS HOLDINGS (JKH.N : LKR179.0; JKH.W0023 : LKR35.70)------Softlogic Equity Research EmptyThu Aug 08, 2019 7:32 am by Beta

» WATA - Watawala
JOHN KEELLS HOLDINGS (JKH.N : LKR179.0; JKH.W0023 : LKR35.70)------Softlogic Equity Research EmptyWed Aug 07, 2019 12:03 pm by lanka

» Chemanex
JOHN KEELLS HOLDINGS (JKH.N : LKR179.0; JKH.W0023 : LKR35.70)------Softlogic Equity Research EmptyWed Aug 07, 2019 6:40 am by The Invisible

» East West properties
JOHN KEELLS HOLDINGS (JKH.N : LKR179.0; JKH.W0023 : LKR35.70)------Softlogic Equity Research EmptyTue Aug 06, 2019 8:17 am by slstock

» CSE Market Wrap - 02.08.2019
JOHN KEELLS HOLDINGS (JKH.N : LKR179.0; JKH.W0023 : LKR35.70)------Softlogic Equity Research EmptyTue Aug 06, 2019 6:59 am by pjrngroup

» Kandy Hotels
JOHN KEELLS HOLDINGS (JKH.N : LKR179.0; JKH.W0023 : LKR35.70)------Softlogic Equity Research EmptyTue Aug 06, 2019 6:55 am by pjrngroup

» GLAS.N0000 (PIRAMAL GLASS CEYLON PLC)
JOHN KEELLS HOLDINGS (JKH.N : LKR179.0; JKH.W0023 : LKR35.70)------Softlogic Equity Research EmptyMon Aug 05, 2019 10:07 pm by The Invisible

» 1000 Post Club | Celebration of a Great Milestone
JOHN KEELLS HOLDINGS (JKH.N : LKR179.0; JKH.W0023 : LKR35.70)------Softlogic Equity Research EmptyMon Aug 05, 2019 6:25 pm by pathfinder

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JOHN KEELLS HOLDINGS (JKH.N : LKR179.0; JKH.W0023 : LKR35.70)------Softlogic Equity Research

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JOHN KEELLS HOLDINGS (JKH.N : LKR179.0; JKH.W0023 : LKR35.70)------Softlogic Equity Research Empty JOHN KEELLS HOLDINGS (JKH.N : LKR179.0; JKH.W0023 : LKR35.70)------Softlogic Equity Research

Post by CSE.SAS on Fri Nov 06, 2015 10:56 am

Click the below link to download the Report of JOHN KEELLS HOLDINGS (JKH.N : LKR179.0; JKH.W0023 : LKR35.70)------Softlogic Equity Research

[You must be registered and logged in to see this link.]

Net earnings rose 31.1% YoY to c.LKR3.5 bn in 2QFY16 which is broadly in line with our forecasts. The profitability was backed by the healthy performance in Consumer Foods & retail (+111.9% YoY) and Transportation (+48.9% YoY) sectors. Moreover 2QFY16 revenue grew 5.4% YoY to LKR22.7 bn driven by Consumer Foods & retail (+23.8% YoY), Transportation (+14.6%), Information Technology (+12.5% YoY) and Leisure (+4.3% YoY) sectors.

Consumer, Leisure and Transportation sectors have been the largest contributors to the group’s net earnings whilst the Consumer foods & retail sector is continuing its growth trajectory. Thus acting as the main growth driver in the group given the expected rise in disposable incomes. Meanwhile the “Waterfront Project” in the heart of Colombo, which commenced construction and due to be completed within 4-5 years (phase I by FY19) would further strengthen JKH’s presence as a leading property developer. Ceylon Cold Stores (CCS:LKR397.0), John Keells PLC (JKL:LKR179.5), John Keells Properties and Waterfront Properties at a total estimated investment of USD820 mn. JKH together with CCS, JKL and JKP would hold 96% ownership in the project, which would add 800 hotel rooms, residential, commercial, convention and entertainment facilities. Transportation segment growth would be challenged by margin pressure on the bunkering business and SAGT losing business volumes to the new CICT terminal. The local resorts segment would face stiff competition in the future from informal mid to lower grade establishments (especially in the southern coast) through online bookings whilst city properties would be challenged due to increased room inventory. Nevertheless, we believe the Maldivian resorts would continue to strengthen JKH’s leisure segment.

The interim budget of the new government was presented to parliament on 29th January 2015 and as a revenue collection measure, all companies who earned profits in excess of LKR2.0 bn in 2013/14 were ordered to make a one off tax payment amounting to 25% of their FY14 earnings. Therefore according to the latest legislation on 30th of October 2015, JKH would see c.LKR1.34 bn been paid in FY16E as an additional one off tax payment in three equal installments. Also during the latter weeks of October 2015, the Sri Lankan parliament passed six bills including the one off special levy of LKR1.0 bn on existing casino operators, where we believe it implied a green light for JKH’s waterfront project to operate a casino inside their premises by allowing an existing casino operator to function. Thus, it would positively impact the project’s earnings streams in the future. However, on a recurring basis, we maintain our forecasts for FY16E with net profits at LKR13,581.0 mn (+11.3% YoY) taking into account the lagging Leisure sector with marginally growing City hotel arm, divestment of the General insurance sub-segment and the absence of revenues from “OnThree20”. Meanwhile we forecast FY17E earnings at LKR15,911.1 mn (up 17.2% YoY on a recurrent basis). Further considered for FY16/7E is the possible utilization of the rights issue cash reserves which would lead to lower interest income and the current low interest rate regime. Given the recent slide in the share, the stock currently trades on a valuation plane of 15.7x estimated FY16E recurrent net profit and 13.9x forecast FY17E recurrent net profit and derives PBV multiples of 1.4x and 1.2x for FY16E and FY17E. Therefore given the 7.5% upside potential on the stock to the SOTP value of LKR192.5, we maintain our recommendation on the stock as a Trading BUY.

CSE.SAS

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JOHN KEELLS HOLDINGS (JKH.N : LKR179.0; JKH.W0023 : LKR35.70)------Softlogic Equity Research Empty Re: JOHN KEELLS HOLDINGS (JKH.N : LKR179.0; JKH.W0023 : LKR35.70)------Softlogic Equity Research

Post by Leon on Fri Nov 06, 2015 6:27 pm

Thanks mate.+
Leon
Leon
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