jkh interim sep 2013

8/14/2019 JKH Interim Sep 2013

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I N T E R I M C O N D E N S E D F I N A N C I A L S T A T E M E N T S S I X M O N T H S E N D E D 3 0 T H S E P T E M B E R 2 0 1 3

JOHN KEELLS

HOLDINGS PLC

Ke e p ing ou r e ye on th e n ex t l e v e l


2/28

Ke e p ing our e ye on t he nex t l e v e l

Chairmans Message 1

Consolidated Income Statement 3

Consolidated Statement of

Comprehensive Income 4

Consolidated Statement ofFinancial Position 5


Cash Flow 6


Changes in Equity 8

Company Income Statement 9

Company Statement of

Comprehensive Income 10Company Statement of Financial

Position 11

Company Statement of Cash Flow 12

Company Statement of

Changes in Equity 13

Operating Segment Information 14

Notes to the Interim Condensed

Financial Statements 18


3/28Interim Financial Statements l 1

Chairmans Message Financial Information

CHAIRMANS MESSAGE

Dear Stakeholder,

The revenues at Rs.21.08 billion and Rs.41.09 billion

in the second quarter and the first half of the financial

year 2013/2014 were 2 per cent and 1 per cent above

the Rs. 20.68 billion and Rs. 40.70 billion recorded in

the corresponding periods in the previous year.

The Group profit before tax (PBT) at Rs.2.65 billion in

the second quarter of the financial year 2013/14 was a

decrease of 12 per cent on the Rs.2.99 billion recorded

in the corresponding period in the previous year. The

cumulative PBT for the first half of the financial year

2013/14 at Rs.4.85 billion was a decrease of 10 per

cent on the PBT of Rs.5.39 billion recorded in the sameperiod in the previous year.

The profit attributable to equity holders for the second

quarter at Rs.2.06 billion reflects a decrease of 15

per cent on the previous year while the first half

performance at Rs. 3.65 billion reflects a decrease of

10 per cent on the corresponding period in the previous

year.

The Group incurred a non-cash charge of Rs.72 million

during the quarter for Employee Share Option Plans(ESOPs) under the Sri Lanka Accounting Standards;

SLFRS 2 on Share Based Payments and a non-

recurring impairment charge of approximately Rs.141

million for the quarter on account of the demolition of

buildings at Glennie Street and Justice Akbar Mawatha.

The Waterfront Project, an integrated resort which I

referred to in my previous message, is still to receive

all its approvals. The Project which had received

Cabinet approval under the Strategic Development

Projects Act was presented to Parliament and wassubsequently withdrawn by the Government. However,

we are confident that the requisite approvals will be

forthcoming shortly.

Your Company received shareholder approval for

investment in the Waterfront Project as a Major

Transaction under the Companies Act No 7 of 2007.

The Company also announced a Rights Issue of 2

shares for every 13 shares held at Rs.175/- per share

with attached warrants. I am pleased to advise you that

the issue was oversubscribed, affirming the supportand trust you have placed in your Company. The

Rs. 23.10 billion raised via the Rights will be utilised

to fund the Companys equity contribution into the

Waterfront Project Company.

From a macroeconomic perspective, in spite of the

reduction in interest rates and continued stable

inflation, we are yet to see the full impact of these

benefits flow through to the real economy. As a result,we continue to witness relatively dampened consumer

sentiment and challenging macroeconomic conditions.

The uncertainty created through the events in the

global economy has compounded the volatility faced

by emerging markets. We however remain confident

of the future considering the strong fundamentals of

the Group which will enable us to weather periods of

uncertainty.

TransportationThe Transportation industry group PBT of Rs.745 million

in the second quarter of 2013/14 was a decrease of 27

per cent compared to the corresponding quarter of the

previous financial year [2012/13 Q2: Rs.1.02 billion].

The decline in PBT is mainly attributable to the lower

contribution from the ports and bunkering businesses

on the back of lower volumes and margins although

container throughput over Colombo has remained flat

as against the previous year. Although the drop in the

ports business was the result of a recent re-alignment

of some services, the overall outlook remains stablewith volumes over Colombo expected to grow strongly

in the medium term.

LeisureThe Leisure industry group PBT of Rs.1.14 billion in the

second quarter of 2013/14 was an increase of 20 per

cent compared to the second quarter of the previous

financial year [2012/13 Q2: Rs.945 million] due to both

the Sri Lankan and Maldivian Resorts performing better

than the previous year. The performance of City hotelsand Destination Management remained in line with

expectations.

PropertyThe Property industry group recorded a loss before tax

of Rs. 45 million for the second quarter compared to a

loss of Rs. 258 million recorded in the corresponding

period of the previous year. Results for the second

quarter of 2013/14 include a non-recurring charge

of Rs.152 million on account of the demolition of

property, plant and equipment located at the Glennie

Street site which will be used for the development

of the Waterfront Project. Revenue recognition on

7th Sense, of which 50 per cent has been sold off


4/28

PROGRESSIVE

2 l JOHN KEELLS HOLDINGS PLC l www.keells.com

CHAIRMANS MESSAGE

plan, commenced during the quarter and contributed

towards the growth in revenue. Both 7th Sense and

OnThree20 are progressing as per schedule.

Consumer Foods and RetailThe Consumer Foods and Retail industry group PBT of

Rs.253 million in the second quarter of 2013/14 was

a decrease of 12 per cent over the second quarter

of the previous financial year [2012/13 Q2: Rs.288

million]. The soft drinks volumes fell during the quarter

under review on the back of an overall reduction in

market volumes. However, the frozen confectionary

segment registered a year on year increase in profits

during the quarter. An enhanced market share andimproving margins at Keells Food Products resulted in

an improved performance. The retail business improved

its financial performance on the back of same store

sales growth.

Financial ServicesThe Financial Services industry group PBT of Rs.305

million in the second quarter of 2013/14 was a

decrease of 6 per cent over the second quarter of the

previous financial year [2012/13 Q2: Rs.323 million].

The reduction in PBT recorded by the banking andstockbroking businesses was partially compensated

for by the higher PBT generated by the insurance

business. The primary reason for the reduction in the

performance of the banking business was due to the

continued slow loan growth rates coupled with the non-

recurring costs in relation to the implementation of its

positioning strategy.

Information Technology

The Information Technology industry group PBT ofRs.43 million in the second quarter of 2013/14 was

a decrease of 24 per cent over the second quarter

of the previous financial year [2012/13 Q2: Rs.56

million], mainly on account of the decrease in profits

of the office automation business due to increased

costs arising from exchange rate fluctuations, despite

the increase in overall revenue. The Business Process

Outsourcing operation in India witnessed growth in

revenue and as a result bettered its profitability.

Other, including Plantation ServicesOther, comprising of Plantation Services and the

Corporate Centre, recorded a PBT of Rs.209 million

for the second quarter of the financial year 2013/14

[2012/13 Q2: Rs. 620 million]. The higher PBT in the

previous financial year was on account of one-off gains

from the disposal of Quattro FPO Solutions and the

partial divestment of the freight forwarding business.

Sustainability InitiativesThe Groups environmental sustainability indicators

recorded quarter on quarter increases on the back of

increased activity in the Resorts sector compared to

the corresponding period in the previous year, with

the overall carbon footprint increasing by 9 per cent

to approximately 18,855 MT and water withdrawal

increasing by 7 per cent to an estimated 431,600

cubic meters. The Group maintained the proportionof waste that is recycled, reused and recovered at

approximately 42 per cent though the total volume of

waste generated increased. The Groups labour related

sustainability indicators witnessed an improvement

with occupational injuries falling to 47 this quarter,

compared to 52 occupational injuries recorded in the

second quarter of 2012/13 and training hours being

maintained at approximately 14 hours per employee for

the quarter.

Corporate Social ResponsibilityThe pre-intermediate level course of the English

Language Scholarship Programme commenced

during the period under review covering 200 children

in 16 locations across 15 Districts. The John Keells

Foundation successfully conducted the English Day

2013, enabling the participants of the scholarship

programme to showcase their learning.

Under the John Keells HIV and AIDS Awareness

Campaign, a total of 1,249 persons were educated via

14 sessions, including corporate staff and members of

the armed forces.

The John Keells Vision Project conducted 3 eye camps

during the quarter covering 575 registered patients of

whom 130 patients underwent cataract operations.

Susantha Ratnayake

Chairman

7 November 2013


5/28


Interim Financial Statements l 3

CONSOLIDATED INCOME STATEMENT

Quarter ended 30th September Six months ended 30th September

Note 2013 2012 Change % 2013 2012 Change %

Continuing operations

Sale of goods 11,100,200 11,494,974 (3) 22,421,932 23,168,715 (3)

Rendering of services 9,980,136 9,187,679 9 18,670,444 17,526,820 7

Revenue 21,080,336 20,682,653 2 41,092,376 40,695,535 1

Cost of sales (15,235,787) (15,264,951) - (30,191,541) (30,152,179) -

Gross profit 5,844,549 5,417,702 8 10,900,835 10,543,356 3

Other operating income 193,248 455,331 (58) 533,470 863,839 (38)

Distribution expenses (736,678) (713,787) 3 (1,574,436) (1,449,095) 9Administrative expenses (2,808,241) (2,830,583) (1) (5,162,468) (5,297,927) (3)

Other operating expenses (715,778) (581,608) 23 (1,449,424) (1,193,038) 21

Results from operating activities 1,777,100 1,747,055 2 3,247,977 3,467,135 (6)

Finance cost (304,243) (17,912) 1,599 (673,554) (483,397) 39

Finance income 1,175,295 1,127,833 4 2,498,252 2,058,733 21

Net finance income 871,052 1,109,921 (22) 1,824,698 1,575,336 16

Change in insurance contract liabilities 7 (770,326) (898,867) (14) (1,696,697) (1,480,694) 15

Share of results of equity accounted investees 768,703 1,036,455 (26) 1,470,273 1,829,372 (20)

Profit before tax 2,646,529 2,994,564 (12) 4,846,251 5,391,149 (10)

Tax expense 8 (344,084) (341,222) 1 (798,557) (881,247) (9)

Profit for the period 2,302,445 2,653,342 (13) 4,047,694 4,509,902 (10)

Attributable to :

Equity holders of the parent 2,059,208 2,411,728 (15) 3,645,605 4,070,446 (10)

Non-controlling interest 243,237 241,614 1 402,089 439,456 (9)

2,302,445 2,653,342 (13) 4,047,694 4,509,902 (10)

Earnings per share Rs. Rs. Rs. Rs.

Basic 2.32 2.74 4.11 4.63

Diluted 2.31 2.72 4.09 4.60

Dividend per share 1.50 1.50

Note : All values are in Rupees 000s, unless otherwise stated.

Figures in brackets indicate deductions.

The above figures are not audited.


6/28

PROGRESSIVE


CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

Quarter ended Six months ended

30th September 30th September

Note 2013 2012 2013 2012

Profit for the period 2,302,445 2,653,342 4,047,694 4,509,902

Other comprehensive income

Currency translation of foreign operations 86,743 (268,823) 342,658 11,287

Revaluation of land and buildings (40,535) - (42,400) -

Share of other comprehensive income of

equity-accounted investees 91,548 (214,644) 286,181 101,462

Net (loss) / gain on available-for-sale financial assets 4,943 249,470 43,400 (122,088)

Transfers to revenue reserves - (14,082) - (14,082)

Tax on other comprehensive income 8 - - - -

Other comprehensive income for the period, net of tax 142,699 (248,079) 629,839 (23,421)

Total comprehensive income for the period, net of tax 2,445,144 2,405,263 4,677,533 4,486,481

Attributable to :

Equity holders of the parent 2,183,562 2,219,718 4,213,266 4,047,418

Non-controlling interest 261,582 185,545 464,267 439,063

2,445,144 2,405,263 4,677,533 4,486,481





7/28



CONSOLIDATED STATEMENT OF FINANCIAL POSITION

As at 30.09.2013 31.03.2013

ASSETSNon-current assets

Property, plant and equipment 49,295,798 49,272,979Lease rentals paid in advance 9,525,525 9,513,671Investment property 9,330,755 9,294,936Intangible assets 2,593,685 2,689,514Investments in associates 17,312,963 15,724,361Other non current financial assets 17,792,640 18,816,693Deferred tax assets 234,322 212,227Other non current assets 4,786,394 3,575,749

110,872,082 109,100,130Current assetsInventories 4,336,245 3,998,900Trade and other receivables 11,356,556 12,775,046Amounts due from related parties 78,166 207,455Other current assets 3,581,528 2,895,900Short term investments 29,957,268 26,586,054

Cash in hand and at bank 3,582,961 3,554,80452,892,724 50,018,159Total assets 163,764,806 159,118,289

EQUITY AND LIABILITIESEquity attributable to equity holders of the parentStated capital 26,588,794 26,480,396Revenue reserves 45,272,359 42,704,203Other components of equity 21,272,501 20,634,571

93,133,654 89,819,170Non-controlling interest 11,095,717 11,366,240Total equity 104,229,371 101,185,410

Non-current liabilitiesInsurance contract liabilities 19,041,956 17,388,494

Borrowings 10,662,365 11,857,764Deferred tax liabilities 1,182,200 1,222,210Employee benefit liabilities 1,465,811 1,385,072Other deferred liabilities 71,138 50,228Other non-current liabilities 547,623 530,075

32,971,093 32,433,843Current liabilitiesTrade and other payables 12,892,688 14,608,263Amounts due to related part ies 25,443 15,280Income tax payable 1,018,221 981,013Short term borrowings 3,519,900 1,853,767Current portion of borrowings 3,570,777 3,048,936Other current liabilities 2,223,402 1,635,534Bank overdrafts 3,313,911 3,356,243

26,564,342 25,499,036

Total equity and l iabilities 163,764,806 159,118,289

Rs. Rs.Net assets per share 108.42 104.78

Note : All values are in Rupees 000s, unless otherwise stated. The above figures are not audited.

I certify that the financial statements comply with the requirements of the Companies Act No.7 of 2007.

M J S RajakariarGroup Financial Controller

The Board of Directors is responsible for the preparation and presentation of these financial statements.

S C Ratnayake J R F PeirisChairman Group Finance Director7 November 2013


8/28

PROGRESSIVE


CONSOLIDATED STATEMENT OF CASH FLOW

For the six months ended 30th September Note 2013 2012

CASH FLOWS FROM OPERATING ACTIVITIES

Profit before working capital changes A 3,777,539 3,968,722

(Increase) / Decrease in inventories (337,345) 1,175,650(Increase) / Decrease in trade and other receivables 1,631,270 (2,040,271)(Increase) / Decrease in other current assets (529,272) 137,318(Increase) / Decrease in other non-current assets (1,210,645) (1,045,235)Increase / (Decrease) in trade and other payables (1,687,864) 1,111,761Increase / (Decrease) in other current liabilities 565,619 (15,347)Increase / (Decrease) in other current financial liabilities - (74,593)Increase / (Decrease) in insurance contract liabilities 1,653,462 1,737,774Cash generated from operations 3,862,764 4,955,779

Finance income received 2,536,492 1,907,233Finance costs paid (666,740) (444,956)

Dividend received - 271,589Tax paid (789,412) (687,612)Gratuity paid (65,313) (73,611)Net cash flow from operating activities 4,877,791 5,928,422

CASH FLOWS FROM/(USED IN) INVESTING ACTIVITIESPurchase and construction of property, plant and equipment (1,614,933) (2,440,282)Purchase of intangible assets (26,875) (8,589)Addition to investment property (35,819) (204,228)Acquisi tion of associates - (168,955)Increase in interest in associates (10,558) (58,130)Proceeds from sale of property, plant and equipment and intangible assets 151,877 41,149Proceeds from demolition on property, plant & equipment 37,613 -Proceeds from sale of interest in associates - 585,675

proceeds from sales of non-current investments - 137,808Proceeds from sale of financial instruments - fair valued through profit or loss 227,470 115,552Purchase of financial instruments - fair valued through profit or loss (300,197) (410,782)(Purchase) / disposal of short term investments (net) 1,962,840 1,474,788(Purchase) / disposal of other non current financial assets (net) 1,067,453 (515,536)Net cash flow from / (used in) investing activities 1,458,871 (1,451,530)

CASH FLOWS FROM/(USED IN) FINANCING ACTIVITIESProceeds from issue of shares 108,398 769,493Proceeds from non-controlling interests on issue of rights in subsidiaries 425 49,903Direct cost on issue of shares (6,534) (6,547)Acquisi tion of non-controlling interest - (516)Dividend paid to equity holders of parent (1,286,460) (1,275,977)Dividend paid to shareholders with non-controlling interest (521,276) (627,775)

Proceeds from long term borrowings 2,156,640 623,274Repayment of long term borrowings (3,083,932) (1,432,124)Proceeds from/(repayment of) other financial liabilities (net) 1,666,133 (81,467)Net cash flow from / (used in) financing activities (966,606) (1,981,736)

NET INCREASE / (DECREASE) IN CASH AND CASH EQUIVALENTS 5,370,056 2,495,156

CASH AND CASH EQUIVALENTS AT THE BEGINNING 16,860,241 19,810,729

CASH AND CASH EQUIVALENTS AT THE END 22,230,297 22,305,885

ANALYSIS OF CASH AND CASH EQUIVALENTSFavorable balancesShort term investments 21,961,247 22,495,221Cash in hand and at bank 3,582,961 3,531,739

Unfavorable balancesBank overdrafts (3,313,911) (3,721,075)TOTAL CASH AND CASH EQUIVALENTS 22,230,297 22,305,885

Note : All values are in Rupees 000s, unless otherwise stated. Figures in brackets indicate deductions. The above figures are not audited.


9/28

PROGRESSIVE


CONSOLIDATED STATEMENT OF CASH FLOW



Profit before working capital changes A 3,777,539 3,968,722

(Increase) / Decrease in inventories (337,345) 1,175,650(Increase) / Decrease in trade and other receivables 1,631,270 (2,040,271)(Increase) / Decrease in other current assets (529,272) 137,318(Increase) / Decrease in other non-current assets (1,210,645) (1,045,235)Increase / (Decrease) in trade and other payables (1,687,864) 1,111,761Increase / (Decrease) in other current liabilities 565,619 (15,347)Increase / (Decrease) in other current financial liabilities - (74,593)Increase / (Decrease) in insurance contract liabilities 1,653,462 1,737,774Cash generated from operations 3,862,764 4,955,779

Finance income received 2,536,492 1,907,233Finance costs paid (666,740) (444,956)

Dividend received - 271,589Tax paid (789,412) (687,612)Gratuity paid (65,313) (73,611)Net cash flow from operating activities 4,877,791 5,928,422

CASH FLOWS FROM/(USED IN) INVESTING ACTIVITIESPurchase and construction of property, plant and equipment (1,614,933) (2,440,282)Purchase of intangible assets (26,875) (8,589)Addition to investment property (35,819) (204,228)Acquisi tion of associates - (168,955)Increase in interest in associates (10,558) (58,130)Proceeds from sale of property, plant and equipment and intangible assets 151,877 41,149Proceeds from demolition on property, plant & equipment 37,613 -Proceeds from sale of interest in associates - 585,675

proceeds from sales of non-current investments - 137,808Proceeds from sale of financial instruments - fair valued through profit or loss 227,470 115,552Purchase of financial instruments - fair valued through profit or loss (300,197) (410,782)(Purchase) / disposal of short term investments (net) 1,962,840 1,474,788(Purchase) / disposal of other non current financial assets (net) 1,067,453 (515,536)Net cash flow from / (used in) investing activities 1,458,871 (1,451,530)

CASH FLOWS FROM/(USED IN) FINANCING ACTIVITIESProceeds from issue of shares 108,398 769,493Proceeds from non-controlling interests on issue of rights in subsidiaries 425 49,903Direct cost on issue of shares (6,534) (6,547)Acquisi tion of non-controlling interest - (516)Dividend paid to equity holders of parent (1,286,460) (1,275,977)Dividend paid to shareholders with non-controlling interest (521,276) (627,775)

Proceeds from long term borrowings 2,156,640 623,274Repayment of long term borrowings (3,083,932) (1,432,124)Proceeds from/(repayment of) other financial liabilities (net) 1,666,133 (81,467)Net cash flow from / (used in) financing activities (966,606) (1,981,736)

NET INCREASE / (DECREASE) IN CASH AND CASH EQUIVALENTS 5,370,056 2,495,156



ANALYSIS OF CASH AND CASH EQUIVALENTSFavorable balancesShort term investments 21,961,247 22,495,221Cash in hand and at bank 3,582,961 3,531,739

Unfavorable balancesBank overdrafts (3,313,911) (3,721,075)TOTAL CASH AND CASH EQUIVALENTS 22,230,297 22,305,885





A Profit before working capital changes

Profit before tax 4,846,251 5,391,149

Adjustments for:

Finance income (2,498,252) (1,911,624)

Finance cost 673,554 483,397

Share of results of equity accounted investees (1,470,273) (1,829,372)

(Profit)/loss on sale of non-current investments 11,461 (172,980)

Profit on sale of non-current investments in associates - (129,939)

Share based payment expense 9 71,875 -

Depreciation of property, plant and equipment 1,269,377 1,064,217

Provision for impairment losses 141,281 450,000

(Profit) / loss on sale of property, plant and equipment and intangible assets 13,137 (7,988)

Amortisation of lease rentals paid in advance 337,860 344,341Amortisation of intangible assets 126,329 129,586

Amortisation of other deferred liabilities (256) (256)

Gratuity provision and related costs 146,995 146,773

Unrealised (gain) / loss on foreign exchange (net) 108,200 11,418

3,777,539 3,968,722



10/28


11/28



COMPANY INCOME STATEMENT

Quarter ended 30th September Six months ended 30th September

Note 2013 2012 Change % 2013 2012 Change %

Continuing operations

Rendering of services 200,991 236,281 (15) 382,678 371,186 3

Revenue 200,991 236,281 (15) 382,678 371,186 3

Cost of sales (99,238) (96,494) 3 (198,246) (181,872) 9

Gross profit 101,753 139,787 (27) 184,432 189,314 (3)

Dividend income 96,452 76,903 25 2,288,050 2,436,949 (6)

Other operating income 10,609 26,319 (60) 12,959 31,247 (59)

Administrative expenses (301,236) (534,931) (44) (596,489) (827,107) (28)Other operating expenses (7,664) (8,080) (5) (17,238) (17,172) 0

Results from operating activities (100,086) (300,002) (67) 1,871,714 1,813,231 3

Finance cost (39,053) (9,448) 313 (130,012) (161,385) (19)

Finance income 327,285 285,662 15 712,007 567,394 25

Net finance income 288,232 276,214 4 581,995 406,009 43

Profit before tax 188,146 (23,788) 891 2,453,709 2,219,240 11

Tax expense 8 (101,324) - - (133,856) (4,752) 2,717

Profit for the period 86,822 (23,788) 465 2,319,853 2,214,488 5

Rs. Rs. Rs. Rs.

Dividend per share - - 1.50 1.50





12/28

PROGRESSIVE


COMPANY STATEMENT OF COMPREHENSIVE INCOME

Quarter ended Six months ended

30th September 30th September

Note 2013 2012 2013 2012

Profit for the period 86,822 (23,788) 2,319,853 2,214,488

Other comprehensive income

Net (loss)/gain on available-for-sale financial assets 8,357 266,672 51,838 (48,009)

Tax on other comprehensive income 8 - - - -

Other comprehensive income for the period, net of tax 8,357 266,672 51,838 (48,009)

Total comprehensive income for the period, net of tax 95,179 242,884 2,371,691 2,166,479





13/28



COMPANY STATEMENT OF FINANCIAL POSITION

As at 30.09.2013 31.03.2013

ASSETS

Non-current assets

Property, plant and equipment 108,079 75,309Intangible assets 75,780 74,004

Investments in subsidiaries and joint ventures 26,815,718 26,641,307

Investments in associates 9,831,925 9,821,364

Other non current financial assets 1,789,642 1,710,653

Other non current assets 10,310 10,310

38,631,454 38,332,947

Current assets

Trade and other receivables 72,662 994,862

Amounts due from related parties 1,222,448 518,084

Other current assets 296,375 384,966

Short term investments 12,677,477 12,551,540Cash in hand and at bank 174,680 63,159

14,443,642 14,512,611

Total assets 53,075,096 52,845,558

EQUITY AND LIABILITIES

Stated capital 26,588,794 26,480,396

Revenue reserves 21,255,149 20,221,756

Other components of equity 207,170 83,457

Total equity 48,051,113 46,785,609

Non-current liabilities

Borrowings 3,271,815 3,752,621

Employee benefit liabilities 140,157 134,0753,411,972 3,886,696

Current liabilities

Trade and other payables 195,889 229,990

Amounts due to related part ies 1,138 13,156

Current portion of borrowings 1,348,851 1,314,424

Other current liabilities 18,535 105,478

Bank overdrafts 47,598 510,205

1,612,011 2,173,253

Total equity and liabilities 53,075,096 52,845,558

Rs. Rs.

Net assets per share 55.94 54.58



I certify that the financial statements comply with the requirements of the Companies Act No.7 of 2007.

M J S Rajakariar

Group Financial Controller

The Board of Directors is responsible for the preparation and presentation of these financial statements.

S C Ratnayake J R F Peiris

Chairman Group Finance Director

7 November 2013


14/28

PROGRESSIVE


COMPANY STATEMENT OF CASH FLOW

For the six months ended 30th September 2013 2012


Profit before tax 2,453,709 2,219,240Adjustments for: Finance income (712,007) (567,394) Dividend income (2,288,050) (2,436,949) Finance cost 130,012 161,385

Share based payment expense 22,185 -Depreciation of property, plant and equipment 11,004 12,909Profit on sale of property, plant and equipment (4) (2,697)

Amortisation of intangible assets 12,324 7,915Provision for impairment losses 182,703 450,000Gratuity provision and related costs 12,346 11,284Profit on sale of other investments - (11,624)

Profit before working capital changes (175,778) (155,931)

(Increase)/Decrease in trade and other receivables 384,906 63,141(Increase)/Decrease in other current assets 12,776 43,033Increase/(Decrease) in trade and other payables (46,118) (53,178)Increase/(Decrease) in other current liabilities (86,943) -Cash generated from operations 88,843 (102,935)Finance income received 712,007 534,201Finance expenses paid (123,198) (122,945)Dividend received 2,308,255 2,468,660Tax paid (58,040) (28,071)Gratuity paid (6,263) (9,727)Net cash flow from operating activities 2,921,604 2,739,183

CASH FLOWS FROM/ (USED IN) INVESTING ACTIVITIES

Purchase and construction of property, plant and equipment (43,774) (2,033)Purchase of intangible assets (14,099) (8,312)Increase in interest in subsidiaries (307,423) (790,381)Increase in interest in associates (10,560) (227,085)Purchase of non current investment (30,353) -Proceeds from sale of Property, plant and equipment 4 6,696Proceeds from sale of non-current investments - 46,563(Purchase) / disposal of short term investments (net) 6,671,151 (1,099,804)(Purchase) / disposal of other non current financial assets (net) 5,028 -Net cash flow from/(used in) investing activities 6,269,974 (2,074,356)

CASH FLOWS FROM / (USED IN) FINANCING ACTIVITIESProceeds from issue of shares 108,398 769,493Dividend paid (1,286,460) (1,275,977)Repayment of long term borrowings (640,474) (664,176)Net cash flow from / (used in) financing activities (1,818,536) (1,170,660)

NET (DECREASE) / INCREASE IN CASH AND CASH EQUIVALENTS 7,373,042 (505,833)



ANALYSIS OF CASH & CASH EQUIVALENTSFavorable balancesShort term investments 12,679,302 8,868,202Cash in hand and at bank 174,680 41,701

12,853,982 8,909,903Unfavorable balances

Bank overdrafts (47,598) (496,637)TOTAL CASH AND CASH EQUIVALENTS 12,806,384 8,413,266



15/28



COMPANY STATEMENT OF CHANGES IN EQUITY

Stated Other Available for Revenue Total

capital capital sale reserve reserves Equity

reserves

As at 1 April 2013 26,480,396 - 83,457 20,221,756 46,785,609

Profit for the period - - - 2,319,853 2,319,853

Other comprehensive income - - 51,838 - 51,838

Total comprehensive income - - 51,838 2,319,853 2,371,691

Exercise of share option 108,398 - - - 108,398

Share based payments - 71,875 - - 71,875

Final dividend paid - 2012/13 - - - (1,286,460) (1,286,460)

As at 30 September 2013 26,588,794 71,875 135,295 21,255,149 48,051,113

As at 1 April 2012 25,110,528 - 229,595 15,841,968 41,182,091

Profit for the period - - - 2,214,488 2,214,488

Other comprehensive income - - (48,009) - (48,009)

Total comprehensive income - - (48,009) 2,214,488 2,166,479

Exercise of share option 769,493 - - - 769,493

Final dividend paid - 2010/11 - - - (1,275,977) (1,275,977)

As at 30 September 2012 25,880,021 - 181,586 16,780,479 42,842,086





16/28

PROGRESSIVE


OPERATING SEGMENT INFORMATION

BUSINESS SEGMENTS

The following tables present revenue and profit information regarding the Groups business segments.

Transportation Leisure Property Consumer Foods & RetailFor the Quarter ended

30th September 2013 2012 2013 2012 2013 2012 2013 2012

External revenue 4,198,035 5,326,710 5,268,197 4,650,872 547,908 439,710 6,065,166 5,985,284

Inter segment revenue 102,948 91,290 2,964 13,238 63,707 68,741 75,152 10,745

Total segment revenue 4,300,983 5,418,000 5,271,161 4,664,110 611,615 508,451 6,140,318 5,996,029

Eliminations of inter

segment revenue

Net revenue

Segment results 200,103 230,096 1,161,960 966,637 (55,996) (276,702) 280,834 309,441

Finance cost (18,904) (12,497) (127,332) (88,080) (20,202) (2,094) (45,371) (32,561)

Finance income 48,376 51,905 103,770 62,389 17,468 22,949 20,533 13,625

Change in fair value of

investment property - - - - - - - -

Share of results of equity

accounted investees 515,536 753,287 - - - - - -

Eliminations / adjustments (603) (588) (1,101) 3,832 14,019 (2,430) (3,000) (3,000)

Profit / (loss) before tax 744,508 1,022,203 1,137,297 944,778 (44,711) (258,277) 252,996 287,505

Tax expense (48,386) (62,252) (105,587) (21,302) 53,154 (10,611) (77,252) (107,108)

Profit / (loss) for the period 696,122 959,951 1,031,710 923,476 8,443 (268,888) 175,744 180,397

Purchase and construction

of PPE 106,865 813 467,382 918,222 2,449 2,107 326,431 366,416

Addition to IA - - - - - - 1,903 832

Depreciation of PPE 26,100 16,657 315,402 255,290 2,153 2,546 205,379 166,213

Amortisation /

impairment of IA - 1,205 - - - - 3,960 3,077

Amortisation of LRPA - - 174,678 173,194 - - - -

Gratuity provision and

related costs 4,190 5,771 21,081 20,706 330 2,170 24,826 16,985




PPE (Property, plant and equipment), IA (Intangible assets), LRPA (Lease rentals paid in advance)


17/28



Financial Services Informat ion Technology Others Group Total

2013 2012 2013 2012 2013 2012 2013 2012

2,336,533 2,137,951 1,771,156 1,427,177 893,341 714,949 21,080,336 20,682,653

25,776 24,977 78,256 72,845 137,309 140,315 486,112 422,151

2,362,309 2,162,928 1,849,412 1,500,022 1,030,650 855,264 21,566,448 21,104,804

(486,112) (422,151)

21,080,336 20,682,653

52,334 (100,892) 137,760 67,020 (63,831) 25,307 1,713,164 1,220,907

(1) 145,332 (25,568) (19,266) (66,865) (8,746) (304,243) (17,912)

13,864 18,023 3,288 3,013 333,111 266,684 540,410 438,588

- - - - - - - -

238,751 260,360 - 5,070 14,416 17,738 768,703 1,036,455

- - (72,820) - (8,000) 318,712 (71,505) 316,526

304,948 322,823 42,660 55,837 208,831 619,695 2,646,529 2,994,564

(88,742) (104,181) (11,509) (11,800) (65,762) (23,968) (344,084) (341,222)

216,206 218,642 31,151 44,037 143,069 595,727 2,302,445 2,653,342

109,275 31,122 31,244 37,185 78,396 26,917 1,122,042 1,382,782

- - 5,300 4,519 - - 7,203 5,351

39,759 36,582 41,969 34,360 27,393 29,477 658,155 541,125

46,995 46,854 7,065 5,801 6,363 10,356 64,383 67,293

- - - - (2,653) 321 172,025 173,515

8,286 6,550 6,012 5,230 10,238 23,593 74,963 81,005


18/28

PROGRESSIVE


OPERATING SEGMENT INFORMATION

BUSINESS SEGMENTS

The following tables present revenue, profit information and segment assets regarding the Groups business segments.

Transportation Leisure Property Consumer Foods & RetailFor the six months ended

30th September 2013 2012 2013 2012 2013 2012 2013 2012

External revenue 8,326,538 10,634,160 9,384,827 8,563,783 1,220,660 1,051,251 12,219,684 11,972,127

Inter segment revenue 205,936 183,484 38,402 24,887 142,941 137,269 166,812 25,742

Total segment revenue 8,532,474 10,817,644 9,423,229 8,588,670 1,363,601 1,188,520 12,386,496 11,997,869

Eliminations of inter

segment revenueNet revenue

Segment result 429,812 568,061 1,635,605 1,650,168 71,380 (245,893) 532,798 717,605

Finance cost (31,864) (36,403) (280,769) (191,650) (37,378) (4,768) (88,105) (53,006)

Finance income 89,580 104,322 245,659 130,490 53,248 61,927 63,637 21,440

Share of results of equity

accounted investees 1,005,860 1,344,236 - - - - - -

Eliminations / adjustments (1,207) (1,176) (2,201) 3,832 10,501 (4,857) (6,000) (6,000)

Profit / (loss) before tax 1,492,181 1,979,040 1,598,294 1,592,840 97,751 (193,591) 502,330 680,039

Tax expense (92,408) (133,441) (172,434) (66,308) 36,004 (33,228) (141,931) (235,280)

Profit / (loss) for the period 1,399,773 1,845,599 1,425,860 1,526,532 133,755 (226,819) 360,399 444,759

Segment assets 7,563,747 7,901,875 58,714,709 50,010,878 16,126,701 10,925,343 15,778,283 13,914,679

Investments in associates

Deferred tax assets

Goodwill

Other current assets

Eliminations / adjustments

Total assets

Purchase and construction

of PPE 113,445 7,406 716,746 1,621,930 15,859 3,665 452,655 622,921Addition to IA - - - - - - 4,171 1,455

Depreciation of PPE 45,507 40,061 636,135 507,789 7,986 5,081 373,450 312,604

Amortisation /

impairment of IA 1,207 4,155 - - - - 7,934 6,123

Amortisation of LRPA - - 337,301 343,835 - - - -

Gratuity provision and

related costs 8,251 10,981 42,902 37,607 630 2,470 48,997 39,532




PPE (Property, plant and equipment), IA (Intangible assets), LRPA (Lease rentals paid in advance)


19/28



Financial Services Information Technology Others Group Total

2013 2012 2013 2012 2013 2012 2013 2012

4,566,056 4,135,343 3,650,431 2,859,123 1,724,180 1,479,748 41,092,376 40,695,535

52,774 49,426 153,373 145,581 278,819 285,028 1,039,057 851,417

4,618,830 4,184,769 3,803,804 3,004,704 2,002,999 1,764,776 42,131,433 41,546,952

(1,039,057) (851,417) 41,092,376 40,695,535

83,913 73,517 146,274 96,601 (172,068) 1,140 2,727,714 2,861,199

(2) (6) (45,815) (34,758) (189,621) (162,806) (673,554) (483,397)

41,299 30,842 6,784 4,550 722,308 535,684 1,222,515 889,255

439,231 475,698 - (4,909) 25,182 14,347 1,470,273 1,829,372

- - - - 98,210 302,921 99,303 294,720

564,441 580,051 107,243 61,484 484,011 691,286 4,846,251 5,391,149

(154,675) (189,208) (23,094) (17,185) (250,019) (206,597) (798,557) (881,247)

409,766 390,843 84,149 44,299 233,992 484,689 4,047,694 4,509,902

28,795,651 25,257,283 4,959,224 4,020,518 22,373,694 19,709,758 154,312,009 131,740,334

17,312,963 16,847,813

234,322 182,476

950,884 758,115

3,581,528 3,892,559

(12,626,900) (14,617,227)

163,764,806 138,804,070

153,681 86,898 56,696 51,960 105,851 45,502 1,614,933 2,440,282- - 8,605 7,134 14,099 - 26,875 8,589

77,600 72,601 71,171 66,995 57,528 59,086 1,269,377 1,064,217

94,061 93,708 10,803 10,868 12,324 14,732 126,329 129,586

- - - - 559 506 337,860 344,341

16,418 14,356 9,583 8,460 20,214 33,367 146,995 146,773


20/28

PROGRESSIVE


NOTES TO THE INTERIM CONDENSED FINANCIAL STATEMENTS

1 CORPORATE INFORMATION

John Keells Holdings PLC. is a public limited company incorporated and domiciled in Sri Lanka and listed on the Colombo Stock

Exchange. Ordinary shares of the company are lis ted on the Colombo Stock Exchange and Global Depository Receipts (GDRs) are

listed on the Luxembourg Stock Exchange.

2 INTERIM CONDENSED FINANCIAL STATEMENTS

The financial statements for the period ended 30 September 2013, includes the Company referring to John Keells Holdings PLC.,

as the holding company and the Group referring to the companies whose accounts have been consolidated therein.

3 APPROVAL OF FINANCIAL STATEMENTS

The interim condensed financial statements of the Group and the Company for the 6 months ended 30 September 2013 were

authorised for issue by the Board of Directors on 7 November 2013.

4 BASIS OF PREPARATION

The interim condensed financial statements have been prepared in compliance with Sri Lanka Accounting Standard (SLAS) LKAS 34

- Interim Financial Reporting. These interim condensed financial statements should be read in conjunction with the annual financial

statements for the year ended 31 March 2013, and changes to the accounting policies as given in Note 5 to these financial

statements.

The presentation and classification of the financial statements of the previous year have been amended, where relevant, for better

presentation and to be comparable with those of the current year.

The interim condensed financial statements are presented in Sri Lankan Rupees and all values are rounded to the nearest thousand

except when otherwise indicated.

5 CHANGES IN ACCOUNTING POLICIES

Employee Share option Plan

Accounting for employee remuneration in the form of shares, SLFRS 2- Share Based Payments, is effective for the Group, from the

financial year beginning 2013/14.

Employees of the Group receive remuneration in the form of share-based payment transactions, whereby employees render services

as consideration for equity instruments (equity-settled transactions). The cost of the employee services received in respect of the

share options granted is recognised in the income statement over the period employees provide services, from the time when the

award is granted up to the vesting date of the options. The overall cost of the award is calculated using the number of share options

expected to vest and the fair value of the options at the date of grant.

The fair value of options granted is determined by using an option pricing model to estimate the number of shares likely to vest.

This takes into account the exercise price of the option, the current share price, the risk-free interest rate, the expected volatility of

the share price over the life of the option and other relevant factors.


21/28



6 OPERATING SEGMENTS

For management purposes, the Group is organised into business units based on their products and services and has seven

reportable operating segments as follows:

Transportation

Leisure

Property

Consumer Foods & Retail

Financial Services

Information Technology

Others

7 CHANGE IN LIFE INSURANCE CONTRACT LIABILITIES

The results of Union Assurance PLCs life business segment is consolidated line by line into the Groups consolidated incomestatement.

The change in life insurance contract liabilities represents the transfer to the Life Fund, the difference between all income and

expenditure attributable to life policy holders during the period.

7 TAX EXPENSE

Group Company

For the six months ended 30th September 2013 2012 2013 2012

Income statement

Current income tax 801,804 870,979 133,856 4,752

Deferred tax (3,247) 10,268 - -

Other comprehensive Income

Deferred tax - - - -

798,557 881,247 133,856 4,752

9 SHARE BASED PAYMENT

At an extra ordinar y general meeting held on 28th June 2013, the shareholders of the company approved the employee share

option plan number 8. The share options arising from this plan has now been accounted for based on SLFRS 2 share based

payments and accordingly Rs 72mn has been charged as an expense in the consolidated income statement during the quarter

ended 30th September 2013.


22/28

PROGRESSIVE



10 RELATED PARTY TRANSACTIONS

Group Company

For the six months ended 30th September 2013 2012 2013 2012

Transactions with related parties

Subsidiaries

(Purchases) / sales of goods - - (2,373) (1,446)

(Receiving) / rendering of services - - 306,760 293,923

(Purchases) / sale of property plant & equipment - - - -

Loans given - - - 485,000

Interest received / (paid) - - - 36,723

Rent received / (paid) - - (46,246) (26,454)

Guarantees received / (paid) - - - -

Joint Ventures

(Receiving) / rendering of services 44,733 17,582 - -

Associates

(Purchases) / sales of goods 2,365 3,208 - -

(Receiving) / rendering of services 11,766 8,926 1,856 2,111

Interest received / (paid) 160,800 227,863 49,721 121,210

Loans taken - (10) - -

Leases taken - - - -

Key management personnel

(Receiving) / rendering of services - - - -

Close family members of KMP

(Receiving) / rendering of services - - - -

Companies controlled / jointly controlled / significantly

Influenced by KMP and their close family members

(Purchases) / sales of goods - - - -

Post employment benefit plan

Contributions to the provident fund 104,086 100,378 22,909 21,185


23/28



11 SHARE INFORMATION

11.1 Public share holdings

The percentage of shares held by the public as at 30 September 2013 was 88.17 % (30 June 2013 - 98.45 %).

11.2 Directors share holdings

The number of shares held by the Board of Directors are as follows:

As at 30-09-2013 30-06-2013

S C Ratnayake Chairman/CEO 5,299,066 5,299,066

A D Gunewardene Deputy Chairman 6,481,720 6,481,720

J R F Peiris 1,371,392 1,371,392

E F G Amerasinghe 5,514 5,514

I Coomaraswamy Nil Nil

T Das Nil Nil

A R Gunasekara 107,866 107,866

M A Omar Nil Nil

S S Tiruchelvam (resigned on w.e.f 09-09-2013) N/A Nil

11.3 Twenty largest shareholders of the company are as follows:

As at 30-09-2013 30-06-2013

Number of Number of

shares % shares %

1 Mr S E Captain 88,230,172 10.3% 84,774,813 9.9%

2 Broga Hill Investments Limited 85,098,555 9.9% 84,681,555 9.9%

3 Janus Overseas Fund 74,878,133 8.7% 75,942,233 8.9%

4 Paints & General Industries Limited 51,744,193 6.0% 50,007,835 5.8%

5 Aberdeen Global-Asian Smaller Companies Fund 31,530,435 3.7% 32,930,435 3.8%

6 Deutsche Bank AG London 31,510,732 3.7% 33,628,953 3.9%

7 Melstacorp (Private) Limited 31,499,883 3.7% 31,499,883 3.7%

8 Aberdeen Global-Emerging Markets Smaller companies fund 22,620,207 2.6% 22,990,207 2.7%

9 Estate of Mr A A N De Fonseka 19,952,358 2.3% 19,952,358 2.3%

10 Aberdeen Global Asia Pacific Equity Fund 19,047,737 2.2% 19,047,737 2.2%

11 Janus Aspen series Overseas Portfolio Fund 18,303,333 2.1% 18,303,333 2.1%

12 Schroder International Selection Fund 15,976,971 1.9% 13,531,656 1.6%

13 Mr K Balendra 13,141,807 1.5% 13,141,807 1.5%

14 J P Morgan Clearing Corporation 11,361,466 1.3% 11,365,142 1.3%

15 London- Edinburgh Dragon Trust PLC 10,936,664 1.3% 10,936,664 1.3%

16 Rubber Investment Trust Limited A/C no.1 10,193,944 1.2% 10,991,944 1.3%

17 BBH-Matthews International Funds 9,556,504 1.1% 9,556,504 1.1%

18 Aberdeen Asia Pacific Fund 9,074,229 1.1% 9,074,229 1.1%19 Aberdeen Institutional Commingled Funds, LLC 8,460,938 1.0% 7,830,938 0.9%

20 Aberdeen Global Frontier Marketing Equity Fund 7,311,766 0.9% 4,581,766 0.9%


24/28

PROGRESSIVE



11.4 Stated capital

Stated capital is represented by number of shares in issue as given below:

As at 30-09-2013 30-06-2013

Ordinary shares 857,921,888 856,112,828

Global depository receipts 1,122,069 1,129,677

11.5 Net assets per share

Net assets per share have been calculated, for all periods, based on the number of shares in issue as at 30 September 2013.

11.6 Market price per share

For the Quarter ended 30th September 2013 2012

Rs. Rs.

Highest 273.20 229.90

Lowest 204.00 176.00

Last traded 218.00 229.10

12 DIVIDENDS PAID

A final dividend of Rs. 1.50 per share for the financial year ended 31 March 2013 was paid on 17 June 2013.

13 DISPOSAL OF ASSOCIATE

In June 2013, as per sales and purchase agreement the Group disposed of its interest in one of its associates, namely NDO India

(Pvt) Ltd. The resultant loss of Rs. 11mn has been reflected in the Consolidated Income Statement.

14 INVESTMENT INTO WATERFRONT PROPERTIES (PRIVATE) LIMITED (THE PROJECT COMPANY)

John Keells holdings PLC. (JKH) had proposed to the Government of Sri Lanka a Project, valued in excess of USD 650mn, involving

the developing, owning, managing, operating, selling, leasing and renting a luxury multi/mixed use Integrated Resort (the Project)

on the land owned and occupied by its subsidiaries Ceylon Cold Stores PLC (CCS), John Keells PLC (JKL), John Keells Properties

(Pvt) Ltd (JKP) and Waterfront Properties (Pvt) Ltd (WPL) in Colombo 2. John Keells Holdings PLC together with its subsidiaries

CCS, JKL and JKP will be majority shareholders in the Project Company, WPL. The Project Company had already entered into an

agreement with the Board of Investment of Sri Lanka to facilitate the requisite approvals and a Gazette published on 18 July 2013

under the Strategic Development Projects Act had made ava ilable tax, duty and other concessions to the Project.

At an Extraordinary General Meeting held in August 2013, the shareholders of JKH granted approval for the Investment in the

Project Company as a Major Transaction under the Companies Act of 2007.

A second gazette published under the Strategic Development Projects Act on the 23 September 2013 further confirmed the

available tax, duty and other concessions to the Project (Please also refer Note 16 ).


25/28



15 CONTINGENCIES, CAPITAL AND OTHER COMMITMENTS

There has been no significant change in the nature of the contingencies and other commitments, which were disclosed in the

annual report for the year ended 31 March 2013.

16 EVENTS AFTER THE REPORTING PERIOD

Waterfront Project

In October 2013, the shareholders of JKH approved to issue 131,987,983 Ordinary Shares in the proportion of two (2) Ordinary

Shares for every thirteen (13) Ordinary Shares in the capital of the Company by way of a Rights Issue, at a price of Rupees One

Hundred and Seventy Five (Rs.175/-) per share and two warrants attached thereto; 2015 warrants 43,995,994 warrants in the

ratio of one (1) warrant for every three (3) shares subscribed to in the Rights issue at an exercise price of Rupees One Hundred and

Eighty Five (Rs.185) per share exercisable 24 months from the issue of the warrant and 2016 warrants 43,995,994 warrants in

the ratio of one (1) warrant for every three (3) shares subscribed to in the Rights issue at an exercise price of Rupees One Hundred

and Ninety Five (Rs.195) per share exercisable 36 months f rom the issue of the warrant. The proceeds from the Rights is to be

utilized towards JKHs investment in the Project Company. The Rights Issue was substantially oversubscribed.

The two Gazettes published under the Strategic Development Projects Act mentioned in Note 14 above, have since been withdrawn

and a new Gazette, under the Strategic Development Projects Act is awaited.

Interim Dividend

The Board of Directors of the company has declared an interim dividend of Rs.1.00 per share for the financial year 2013/14. As

required by section 56 (2) of the Companies Act no 07 of 2007, the Board of Directors has confirmed that the company satisfies the

solvency test in accordance with section 57 of the companies Act No.07 of 2007, and has obtained a certificate from auditors, prior

to declaring an interim dividend which is to be paid on the 27 November 2013.


26/28

PROGRESSIVE


NOTES


27/28

Corporate Information

Name of Company

John Keells Holdings PLC

Legal Form

Public Limited Liability Company

Incorporated in Sri Lanka in 1979

Ordinary Shares listed on the

Colombo Stock Exchange

GDRs listed on the Luxembourg

Stock Exchange

Company Registration No.

PQ 14

Directors

S C Ratnayake Chairman

A D Gunewardene Deputy Chairman

J R F Peiris

E F G Amerasinghe

I Coomaraswamy

T Das

A R Gunasekara

M A Omar

Senior Independent Director

E F G Amerasinghe

Audit Committee

A R Gunasekara Chairman

E F G Amerasinghe

I Coomaraswamy

Human Resources and

Compensation Committee

E F G Amerasinghe Chairman

I Coomaraswamy

A R Gunasekara

M A Omar

Nominations Committee

T Das Chairman

M A OmarS C Ratnayake

Bankers

Bank of Ceylon

Citibank N.A

Commercial Bank

Deutsche Bank A.G

DFCC Bank

DFCC Vardhana Bank

Hatton National Bank

Hongkong & Shanghai Banking

Corporation

Muslim Commercial Bank

Nations Trust Bank

National Savings Bank

Pan Asia Banking Corporation

Peoples Bank

Sampath Bank

Seylan Bank

Standard Chartered Bank

Depository for GDRs

Citibank N.A

New York

Registered office of the Company

117, Chittampalam A Gardiner

Mawatha, Colombo 2, Sri Lanka

Internet: www.keells.com

Email: [email protected]

Secretaries and Registrars

Keells Consultants (Pvt) Limited

117,Chittampalam A Gardiner

Mawatha,Colombo 2, Sri Lanka

Telephone: +94 11 230 6245

Facsimile: +94 11 243 9037

Investor Relations


117, Chittampalam A GardinerMawatha, Colombo 2, Sri Lanka

Telephone: +94 11 230 6165

+94 11 230 6000

Facsimile: +94 11 230 6160


Group Sustainability and

Enterprise Risk Management




Telephone: +94 11 230 6182

Facsimile: +94 11 230 6249


Contact for Media

Corporate Communications Division




Telephone: +94 11 230 6191


Auditors

Ernst & Young

Chartered Accountants

P.O. Box 101

Colombo, Sri Lanka


28/28

jkh interim sep 2013

Documents