Financial Times

JKH sharply down 50% year-on-year to Sept. 15

Share prices of John Keells Holdings (JKH) have crashed by 50 % year-on-year (September 15, 2007 to September 15, 2008) as the group tries to recover from the reversal at subsidiary Lanka Marine Services Ltd (LMSL), figures in the Colombo Stock Exchange (CSE) website show. The stock closed on Monday at Rs 85.25, down Rs 3.75 from the last traded levels. On Thursday, the JKH traded at Rs. 81.

According to these figures, JKH fell 11 % on a weekly to September 15 basis, 17% for the month to September 15 and 30 % for the quarter to September 15, 2008. Stock analysts said that transportation – LMSL and SAGT – represent more than 60 percent of the earnings and profits in the company and the loss of the monopoly in the bunkering business would have a huge impact on the group. LMSL last week vacated the oil tank farm premises in Colombo in accordance with a Supreme Court judgment.

Top to the page  |  E-mail  |  views[1]
Other Financial Times Articles
US crisis: Lanka spared
Harry dominates DCSL annual meeting
SLIC gets top AAA rating
Hunter’s director resigns - Correction
CCC meeting on JKH on Sept. 25
Mobile tariff war hots up
PBJ continues at SriLankan Airlines
PBJ finally steps down- Comment
Food and oil hikes to continue in Asia this year-ADB
Solving office problems through Management Theatre
Kandy’s Sinhaputhra Finance to list in the CSE
Consumer says rights violated over supermarkets charging for bags
Tilak gets long service award from AMW
LMSL to appeal Rs.375 million in taxes
CT Smith: JKH shares may rebound
LMSL vacates sans Rs20 mln worth of oil
JKH sharply down 50% year-on-year to Sept. 15
Business Ethics – my foot! - Letter
Ronnie-Deva’s intimidating presence at recent CCC adjudication - Letter
Extending age of public sector retirement, welcome development


Reproduction of articles permitted when used without any alterations to contents and a link to the source page.
© Copyright 2008 | Wijeya Newspapers Ltd.Colombo, Sri Lanka. All Rights Reserved.