Report
Lourdeena Kudaliyanage
EUR 4.56 For Business Accounts Only

JKSB Quarterly Highlights_John Keells Holdings PLC (JKH)_2QFY17

JKH reported an 8% YoY increase in 2QFY17 earnings, with strong performances from its leisure and consumer foods & retail businesses (54% YoY PBT growth and 55% YoY PBTgrowth respectively), offsetting a drop in profitability for the transportation and property sectors (-18% YoY and -81% YoY PBT declines respectively).

We maintain our full year earnings projection of Rs. 15.6bn for FY17 (+11% YoY). At its current price of Rs. 151.00, JKH trades at a FY17E P/E of 13.2x, in-line with the diversified sector average.

Underlying
John Keells Holdings PLC

Provider
John Keells Stock Brokers
John Keells Stock Brokers

​•JKSB is one of 15 founding members of the Colombo Stock Exchange with roots in share trading dating back to 1896, and is a subsidiary of John Keells Holdings PLC (JKH), the largest listed entity on the Colombo Stock Exchange with a market capitalization of US$ 1.3bn.

•JKSB’s core client base is Foreign Institutional Investors, Local Institutions and HNWI’s

•JKSB has a co-branded Research tie up with CIMB and a Research Referral agreement with Credit Suisse, along with trade execution relationships with several other global and regional securities firms.

•JKSB’s trade execution partners include Credit Suisse, CIMB, Merrill Lynch, Exotix, Daiwa, Convergex, Deutsche Asia Securities and Morgan Stanley

•JKSB is a research contributor to Bloomberg on ‘KEEL’ , Thomson First Call, Reuters Knowledge and FactSet

•The JKSB Research Universe covers 72 stocks across 15 sectors, with most Research efforts focused on approximately 45 of the more liquid counters.

•The JKSB Universe constitutes 67% of total market cap and approximately 80% of turnover at the CSE.

Analysts
Lourdeena Kudaliyanage

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