JKH ends 'pivotal' FY25 setting stage for higher growth

LEADING blue chip John Keells Holdings PLC (JKH) yesterday announced the conclusion of what it described as a “pivotal” financial year 2024/25 with performance in line with its expectations but more importantly, setting the stage for higher growth.

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"The year under review has been a pivotal one for the Group, marked by bold investments coming to fruition with the successful launch of two of the Group’s most ambitious and largest investments to date — City of Dreams Sri Lanka and the West Container Terminal (WCT-1) at the Port of Colombo. These landmark developments represent transformative opportunities, poised to serve as catalysts for economic growth, reinforcing Sri Lanka’s position as a logistics and leisure hub in the region," said JKH Chairperson Krishan Balendra in his review accompanying JKH’s FY25 Annual Report.

"I am confident these investments will redefine the Group, and its performance, while contributing meaningfully to the country’s economy," Balendra emphasised.

He said that the Group’s financial performance remained in line with “our expectations, driven by the strength of our consumer-focused businesses which gained momentum quarter after quarter."

As anticipated, JKH's overall Group EBITDA was affected by the substantial pre-opening, ramp-up, and operating expenses at the City of Dreams Sri Lanka integrated resort.

Recurring EBITDA, excluding City of Dreams Sri Lanka (CODSL), saw an increase of 12% to Rs. 50.43 billion in FY25 demonstrating the steady growth in the underlying businesses.

Group recurring PBT, excluding City of Dreams Sri Lanka, stood at Rs. 22.93 billion, a 60% increase from FY24.