Friday, July 31 2026
Friday, July 31 2026
MONETABRIEF – Sri Lanka's John Keells Holding, which has interests in port terminals, hotels, retail and financial services has reported profits of 62 million rupees for the June 2026 quarter, with the group hit by a 2.8 billion rupee forex loss as the central bank busted the rupee.
The bottom line improved from a loss of 803 million, a year ago, but gains in container operations, retail, property and financial services were offset by the exchange loss and lower profits in retail amid falling margins.
Transportation reported gross profits of 4.2 billion rupees in March 2026, up from 1.2 billion rupees last year. Some of the port profits go to outside shareholders.
Profits from property improved to 745 million rupees from 165 million. JKH said margins of its BYD electric vehicles declined.
Group revenues grew 24 percent to 141.1 billion rupees, cost of sales rose 25 percent to 117 billion rupees and gross profits rose 22 percent to 24.5 billion rupees.
The rupee fell from 296 to the US dollar in March 2025 to 315 by March 2026 and fell further to 336 levels in the June quarter as the central bank built up excess liquidity through dollar purchases, swaps and profit transfers and denied convertibility to the new rupees.
JKH has dollar revenues in overseas operations and ports.
Finance costs rose 42 percent to 8.1 billion rupees, with a 2.8 billion rupee exchange loss.
Waterfront Properties, the owners of the JKH's City of Dreams project was hit by a 3.72 billion rupee exchange loss on its dollar loans, as the rupee collapsed.
It was partly offset by exchange gains of 974 million rupees on a dollar balance at the parent.
Admin expenses rose from 9.6 billion rupees to 11.4 billion rupees. (Colombo/July29/2026)
| US Dollar | 340.98 | Sell - |
| Euro | 391.44 | Sell - |
| Japan Yen | 2.114 | Sell - |
| Sterling | 458.31 | Sell - |
| AED | 91.58 | Indi - |
| 3 month bill | 9.95 | 0.18 ▼ |
| 12-m bill | 10.20% | 0 - |
| Gold | $4035 | - - |
| ASPI | 21,229.14 | 41.9 ▲ |
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