CorporateCraftsmanship - John Keells Holdings PLC · 5 Consolidated Statement of Financial Position...

John Keells Holdings PLC Interim Condensed Financial Statements

Three months ended 30th June 2017

CorporateCraftsmanship

1

Chairman's Review

Dear Stakeholder,

The Group profit before tax (PBT) at Rs.4.09 billion in the first quarter of the financial year 2017/18 is an increase of 14 per cent over the Rs.3.58 billion recorded in the previous financial year. The profit attributable to equity holders at Rs.2.83 billion is an increase of 19 per cent over the Rs.2.37 billion in the corresponding period of the previous financial year.

The revenue at Rs.26.82 billion for the period under review is an increase of 18 per cent over the Rs.22.73 billion recorded in the previous financial year.

The Company PBT for the first quarter of 2017/18 at Rs.3.36 billion is an increase of 18 per cent over the Rs.2.85 billion recorded in the corresponding period of 2016/17.

Transportation The Transportation industry group PBT of Rs.807 million in the first quarter of 2017/18 is an increase of 14 per cent over the first quarter of the previous financial year [2016/17 Q1: Rs.711 million]. The increase in profitability is mainly attributable to the performance of the Group’s Ports, Shipping and Logistics businesses which recorded improved performances as a result of increases in volumes and throughput. Whilst the Group’s Bunkering business improved market share and recorded a notable growth in volumes, a contraction in margins arising out of the competitive operating environment impacted profitability during the quarter.

Leisure The Leisure industry group PBT of Rs.179 million in the first quarter of 2017/18 is a decrease of 68 per cent over the first quarter of the

previous financial year [2016/17 Q1: Rs.558 million].

As noted in my message in the 2016/17 Annual Report, the decline was anticipated and arises from a non-cash impact of Rs.203 million on account of the acceleration of depreciation on assets from the closure of “Bentota Beach by Cinnamon”, and the partial closures of “Cinnamon Dhonveli Maldives” and “Ellaidhoo Maldives by Cinnamon” for on-going refurbishments.

During the quarter under review, overall arrivals to Sri Lanka witnessed a moderation in growth as a result of the negative publicity and travel warnings following the flooding and landslides in May. Despite this, both the City Hotels sector and Sri Lankan Resorts segment recorded an improvement in occupancies which partially off-set the impact of the decline in average room rates. The occupancies in the Maldivian Resorts segment were also impacted due to a lower than expected growth in arrivals because of adverse weather conditions. However, it is noteworthy that occupancies at Cinnamon hotels remained above the industry average during the quarter under review. The improved performance of the Chinese and UK markets contributed towards a notable growth in profitability for the Destination Management business.

PropertyThe Property industry group PBT of Rs.62 million in the first quarter of 2017/18 is an increase of 7 per cent over the first quarter of the previous financial year [2016/17 Q1: Rs.57 million]. The increase in profitability is mainly attributable to the higher rental income received from the property management businesses.

The feasibility evaluation of the prospective property development project in central Colombo is ongoing, where the finalisation of design concepts and obtaining the requisite approvals are underway. The construction of Cinnamon Life is progressing with encouraging momentum.

Consumer Foods and RetailThe Consumer Foods and Retail industry group PBT of Rs.1.07 billion in the first quarter of 2017/18 is a decrease of 18 per cent over the first quarter of the previous financial year [2016/17 Q1: Rs.1.30 billion]. The decline in profitability is mainly on account of the lower volumes in the Frozen Confectionery and Beverage businesses, where a tapering of demand continued to be witnessed in the quarter under review as a result of subdued consumer discretionary spending, as alluded to in my message in the 2016/17 Annual Report. Volume reductions were further exacerbated by the impacts of the flooding and landslides in May. The decline in profitability was partially mitigated by the Retail sector which recorded a strong performance. This was aided by growth in footfall which also contributed towards a year-on-year growth in same store sales. The overall profitability was enhanced as a result of notable contributions from the newly opened outlets. The planned outlet expansion is on track, with a number of sites identified.

Financial ServicesThe Financial Services industry group PBT of Rs.239 million in the first quarter of 2017/18 is an increase of 22 per cent over the first quarter of the previous financial year [2016/17 Q1: Rs.196 million]. The increase in profitability was primarily due to Union Assurance PLC which recorded encouraging

2 John Keells Holdings PLC | Interim Condensed Financial Statements Three months ended 30 June 2017

double-digit growth in gross written premiums and John Keells Stock Brokers which recorded a better performance when compared to the previous year. Nations Trust Bank recorded encouraging loan growth and an improvement in net interest income.

Information Technology The Information Technology industry group PBT of Rs.71 million in the first quarter of 2017/18 is an increase over the first quarter of the previous financial year [2016/17 Q1: Rs.25 million]. This was due to a significant one-off charge in the BPO business in the corresponding quarter of 2016/17.

Other, Including Plantation ServicesOther, including the Plantation Services sector and the Holding Company, PBT of Rs.1.66 billion in the first quarter of 2017/18 is a significant increase over the first quarter of the previous financial year [2016/17 Q1: Rs.735 million]. The increase in PBT is mainly attributable to the increases in finance income due to higher interest rates and a higher value under investment, and exchange gains recorded at the Company on its foreign currency denominated cash holdings compared to the exchange loss recorded in the corresponding quarter of the previous financial year. The Plantations Services sector recorded an improvement in profitability due to improved tea prices.

Sustainability Initiatives The carbon footprint per million rupees of revenue and water withdrawn per million rupees of revenue decreased by 10 per cent and 17 per cent respectively, to 0.89 MT and 18.11 cubic meters, demonstrating the positive

outcomes of the Group’s concerted efforts in these areas. Whilst the Group water withdrawal decreased by 2 per cent to 490,160 cubic meters, primarily due to decreased operational activities in the Consumer Foods sector, the Group reported an increase of 6 per cent in its carbon footprint to 23,996 MT mainly due to increased operational activities in the Retail sector and the inclusion of Cinnamon Air to the Group’s sustainability reporting scope. The Group’s employees were provided with approximately 9 hours of training per employee, whilst 49 occupational injuries were reported during the quarter under review.

Corporate Social Responsibility Following are some of the highlights of the John Keells Foundation’s (JKF) work during the quarter under review.

• JKF, along with Group businesses, mobilised staff and other resources towards the provision of immediate relief and resettlement support for flood affected victims. Collection points were set up at Keells Super outlets for the public to donate dry rations and sanitary items with contributions being matched on a “One to One” basis. JKF, in collaboration with Sri Lanka Red Cross Society (SLRCS), also initiated a well cleaning programme in Galle and Kalutara whereby 780 wells were cleaned, benefitting a total of 7,479 persons. JKF and SLRCS also distributed school requirements including books, stationery items and school bags, to an estimated 1,000 school children in Galle, Kalutara and Matara.

• Under the English Language Scholarship Programme, regional English Days were

successfully held across the island in 5 provinces. This is the first time regional English Days were held, giving all students the opportunity to showcase their English language skills and build confidence through a recital or performance.

• JKF was awarded the “SLT Zero One Digital Excellence Award” under the Health and Personal Care Services Category for the Best Community Empowerment Programme for the HIV and AIDS e-learning platform.

• Under the John Keells Vision Project a total of 773 cataract patients were identified and 719 cataract surgeries completed in the first quarter. More than 4,000 school children from 11 schools were screened and 328 spectacles donated under the School Screening Programme.

• At the Volunteer Recognition Day 2017, a total of 1,008 Group staff were recognised for their volunteerism in the Foundation’s initiatives during 2016/17.

Susantha RatnayakeChairman

27 July 2017

3

Consolidated Income Statement

For the three months ended 30 June Note 2017 2016 Change %

Continuing operations

Sale of goods 18,588,699 15,185,094 22

Rendering of services 8,233,316 7,546,895 9

Revenue 26,822,015 22,731,989 18

Cost of sales (20,115,987) (16,097,386) 25

Gross profit 6,706,028 6,634,603 1

Other operating income 482,960 278,146 74

Selling and distribution expenses (1,004,519) (958,705) 5

Administrative expenses (3,259,489) (2,741,686) 19

Other operating expenses (780,200) (794,312) (2)

Results from operating activities 2,144,780 2,418,046 (11)

Finance cost (144,364) (271,218) (47)

Finance income 3,469,780 2,107,097 65

Change in insurance contract liabilities 6 (2,217,048) (1,412,507) 57

Share of results of equity accounted investees 834,710 742,504 12

Profit before tax 4,087,858 3,583,922 14

Tax expense 7 (1,072,023) (936,487) 14

Profit for the period 3,015,835 2,647,435 14

Attributable to:

Equity holders of the parent 2,832,756 2,371,051 19

Non-controlling interest 183,079 276,384 (34)

3,015,835 2,647,435 14

LKR. LKR.

Earnings per share

Basic 2.04 1.74

Diluted 2.04 1.74

Dividend per share 2.00 1.50

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


Consolidated Statement of Comprehensive Income

For the three months ended 30 June Note 2017 2016

Profit for the period 3,015,835 2,647,435

Other comprehensive income

Other comprehensive income to be reclassified to income statement in subsequent periods

Currency translation of foreign operations 391,859 (344,473)

Net (loss)/gain on cash flow hedges (24,208) (215,575)

Share of other comprehensive income of equity-accounted investees 58,842 (6,804)

Net gain/(loss) on available-for-sale financial assets 444,532 72,908

Net other comprehensive income to be reclassified to income statement in subsequent periods

871,025 (493,944)

Other comprehensive income not to be reclassified to income statement in subsequent periods

Remeasurement gain / (loss) on defined benefit plans (9,600) -

Net other comprehensive income not to be reclassified to income statement in subsequent periods

(9,600) -

Tax on other comprehensive income 7 (836) (1,185)

Other comprehensive income for the period, net of tax 860,589 (495,129)

Total comprehensive income for the period, net of tax 3,876,424 2,152,306

Attributable to:

Equity holders of the parent 3,632,485 1,928,114

Non-controlling interest 243,939 224,192

3,876,424 2,152,306


5

Consolidated Statement of Financial Position

As at 30.06.2017 31.03.2017

ASSETSNon-current assetsProperty, plant and equipment 64,816,495 64,396,373 Lease rentals paid in advance 13,178,152 13,206,058 Investment property 5,366,180 5,366,180 Intangible assets 2,053,398 2,118,160 Investments in equity accounted investees 18,612,440 17,718,887 Non-current financial assets 29,043,864 27,666,621 Deferred tax assets 158,354 143,548 Other non-current assets 43,065,998 41,692,316

176,294,881 172,308,143

Current assetsInventories 5,699,336 5,605,712 Trade and other receivables 8,778,731 11,687,429 Amounts due from related parties 182,975 111,639 Other current assets 4,530,242 3,265,327 Short term investments 82,213,123 79,174,327 Cash in hand and at bank 3,784,529 5,119,185

105,188,936 104,963,619 Total assets 281,483,817 277,271,762

EQUITY AND LIABILITIESEquity attributable to equity holders of the parentStated capital 62,790,080 62,790,080 Revenue reserves 77,605,272 77,193,184 Other components of equity 39,537,252 38,651,568

179,932,604 178,634,832 Non-controlling interest 15,206,965 15,695,543

Total equity 195,139,569 194,330,375

Non-current liabilitiesInsurance contract liabilities 33,814,859 31,700,278 Interest bearing loans and borrowings 16,901,896 14,202,636 Deferred tax liabilities 2,340,869 2,336,241 Employee benefit liabilities 1,948,557 1,880,287 Other deferred liabilities 844,768 838,891 Other non-current liabilities 4,212,988 3,933,882

60,063,937 54,892,215

Current liabilitiesTrade and other payables 12,050,078 14,136,040 Amounts due to related parties 2,420 10,434 Income tax liabilities 3,329,366 2,395,379 Short term borrowings 1,561,037 1,380,238 Interest bearing loans and borrowings 1,417,259 2,918,854 Other current liabilities 2,620,977 2,944,118 Bank overdrafts 5,299,174 4,264,109

26,280,311 28,049,172 Total equity and liabilities 281,483,817 277,271,762

LKR LKR Net assets per share 129.68 128.75

Note : All values are in LKR '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 Director

27 July 2017


Consolidated Statement of Cash Flows


CASH FLOWS FROM OPERATING ACTIVITIESProfit before working capital changes A 1,239,107 2,132,006

(Increase) / Decrease in inventories (93,624) 132,877 (Increase) / Decrease in trade and other receivables 2,970,290 1,772,255 (Increase) / Decrease in other current assets (1,069,113) (298,106)(Increase) / Decrease in other non-current assets (961,816) (541,718)Increase / (Decrease) in trade, other payables and other non-current liabilities (1,879,458) (1,658,905)Increase / (Decrease) in other current liabilities (274,909) 95,951 Increase / (Decrease) in insurance contract liabilities 2,114,581 1,385,749 Cash generated from operations 2,045,058 3,020,109

Finance income received 2,933,189 2,023,100 Finance costs paid (144,364) (209,342)Tax paid (353,738) (944,740)Gratuity paid (41,190) (32,809)Net cash flow from operating activities 4,438,955 3,856,318

CASH FLOWS FROM/(USED IN) INVESTING ACTIVITIESPurchase and construction of property, plant and equipment (1,353,672) (737,904)Purchase of intangible assets (18,198) (26,131)Addition to investment property - (97)Acquisition of subsidiaries (net of cash acquired) B (78,584) - Proceeds from sale of property, plant and equipment and intangible assets 31,904 33,646 Proceeds from sale of financial instruments - fair valued through profit or loss 293,030 21,376 Purchase of financial instruments - fair valued through profit or loss (348,791) (183,683)(Purchase) / disposal of short term investments (net) (30,373,726) (177,811)(Purchase) / disposal of non current financial assets (net) (914,816) (5,310,384)Grants received for investing activities 6,123 37,364 Net cash flow from / (used in) investing activities (32,756,730) (6,343,624)

CASH FLOWS FROM/(USED IN) FINANCING ACTIVITIESChanges in non controling interest 10,598 - Dividend paid to equity holders of parent (2,774,934) (1,784,105)Dividend paid to shareholders with non-controlling interest (417,248) (423,412)Proceeds from long term borrowings 2,852,392 1,370 Repayment of long term borrowings (1,830,835) (1,105,928)Proceeds from/(repayment of) other financial liabilities (net) 180,799 668,880 Net cash flow from / (used in) financing activities (1,979,228) (2,643,195)

NET INCREASE / (DECREASE) IN CASH AND CASH EQUIVALENTS (30,297,003) (5,130,501)

CASH AND CASH EQUIVALENTS AT THE BEGINNING 47,643,605 48,398,696

CASH AND CASH EQUIVALENTS AT THE END 17,346,602 43,268,195

ANALYSIS OF CASH AND CASH EQUIVALENTSFavorable balancesShort term investments 18,861,247 42,113,702 Cash in hand and at bank 3,784,529 4,737,791 Unfavorable balancesBank overdrafts (5,299,174) (3,583,298)Total Cash and cash equivalents 17,346,602 43,268,195


7


A. Profit before working capital changes Profit before tax 4,087,858 3,583,922 Adjustments for: Finance income (3,469,780) (2,107,097) Finance cost 144,364 271,218 Share-based payment expense 114,354 101,284 Share of results of equity accounted investees (834,710) (742,504) Depreciation of property, plant and equipment 934,386 684,165 (Profit)/loss on sale of property, plant and equipment and intangible assets (18,532) 7,918 Amortisation of lease rentals paid in advance 108,680 163,093 Amortisation of intangible assets 82,960 81,639 Amortisation of other deferred liabilities (1,474) (4,719) Gratuity provision and related costs 92,204 78,234 Goodwill Impairment B 23,445 - Accumulated unrecognised (gain)/ loss net (31,392) - Unrealised (gain) / loss on foreign exchange (net) 6,744 14,853

1,239,107 2,132,006

B. Obtaining control of a subsidiaryIn June 2017, Mack International Freight (Pvt) limited (formerly known as NDO Lanka (Pvt) Limited). became a fully owned subsidiary of the Group, arising from the buyout of 40% stake from the other venture partner, for a nominal value by John Keells Holdings PLC.

The fair value of assets acquired and liabilities assumed were as follows:

ASSETSCash 3,211 Trade and other receivables 125,200 Other current assets 26,425 Non-current financial assets 23,335 Non-current assets 524 Property, plant and equipment 1,445

LIABILITIESBank overdrafts (153,795)Income tax liabilities (12,040)Other current liabilities (795)Trade and other payables (64,588)Employee benefit liabilities (7,535)Total identifiable net assets at fair value (58,613)Share of net assets acquired (23,445)Goodwill 23,445 Purchase consideration - Bank overdraft settled by other venture partner 72,000 Cash and cash equivalent acquired (150,584)Net cash outflow (78,584)



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9

Company Income Statement

For the three months ended 30 June Note 2017 2016 Change %

Continuing operations

Rendering of services 322,533 254,131 27

Revenue 322,533 254,131 27

Cost of sales (172,751) (145,990) 18

Gross profit 149,782 108,141 39

Dividend income 1,751,801 2,117,430 (17)

Other operating income 3,714 6,764 (45)

Administrative expenses (316,347) (267,487) 18

Other operating expenses (8,614) (12,426) (31)

Results from operating activities 1,580,336 1,952,422 (19)

Finance cost (27,605) (187,942) (85)

Finance income 1,805,885 1,088,896 66

Profit before tax 3,358,616 2,853,376 18

Tax expense 7 (352,317) (232,115) 52

Profit for the period 3,006,299 2,621,261 15

LKR. LKR.

Dividend per share 2.00 1.50



Company Statement of Comprehensive Income


Profit for the period 3,006,299 2,621,261

Other comprehensive income

Other comprehensive income to be reclassified to income statement in subsequent periods

Net gain/(loss) on available-for-sale financial assets 5,619 5,015

Net other comprehensive income to be reclassified to income statement in subsequent periods

5,619 5,015

Tax on other comprehensive income 7 - -

Other comprehensive income for the period, net of tax 5,619 5,015

Total comprehensive income for the period, net of tax 3,011,918 2,626,276


11

Company Statement of Financial Position

As at 30.06.2017 31.03.2017

ASSETSNon-current assetsProperty, plant and equipment 91,031 93,913 Intangible assets 36,366 30,801 Investments in subsidiaries 43,607,413 42,987,395 Investments in equity accounted investees 8,910,800 8,910,800 Non current financial assets 2,860,803 2,789,980 Other non current assets 16,254 16,254

55,522,667 54,829,143

Current assetsTrade and other receivables 150,621 118,076 Amounts due from related parties 267,711 286,735 Other current assets 124,970 99,442 Short term investments 61,755,735 60,243,280 Cash in hand and at bank 92,976 304,265

62,392,013 61,051,798 Total assets 117,914,680 115,880,941

EQUITY AND LIABILITIESStated capital 62,790,080 62,790,080 Revenue reserves 50,219,860 49,988,495 Other components of equity 1,624,849 1,504,876 Total equity 114,634,789 114,283,451

Non-current liabilitiesEmployee benefit liabilities 225,927 217,910 Other deferred liabilities 105,050 103,218

330,977 321,128

Current liabilitiesTrade and other payables 445,610 330,078 Amounts due to related parties 207,246 210,029 Income tax liabilities 784,765 635,532 Other current liabilities 23,844 16,441 Bank overdrafts 1,487,449 84,282

2,948,914 1,276,362 Total equity and liabilities 117,914,680 115,880,941

LKR. LKR.Net assets per share 82.62 82.37

Note : All values are in LKR '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 Director

27 July 2017


Company Statement of Cash Flows


CASH FLOWS FROM OPERATING ACTIVITIESProfit before tax 3,358,616 2,853,376 Adjustments for:Finance income (1,805,885) (1,088,896)Dividend income (1,751,801) (2,117,430)Finance cost 27,605 187,942 Depreciation of property, plant and equipment 6,989 9,079 Amortisation of intangible assets 4,558 5,214 Share based payment expenses 29,313 31,884 Gratuity provision and related costs 9,573 7,055 Profit before working capital changes (121,032) (111,776)

(Increase) / Decrease in trade and other receivables (138,044) 1,544 (Increase) / Decrease in other current assets (25,528) 18,653 Increase / (Decrease) in trade and other payables 107,174 61,291 Increase / (Decrease) in other current liabilities 7,402 (3,590)Cash generated from operations (170,028) (33,878)

Finance income received 2,591,574 1,107,703 Finance costs paid (20,209) (139,901)Dividend received 1,876,334 2,562,704 Tax paid (203,084) (275,641)Gratuity paid (1,555) (5,835)Net cash flow from operating activities 4,073,032 3,215,152

CASH FLOWS FROM/ (USED IN) INVESTING ACTIVITIESPurchase and construction of property, plant and equipment (4,107) (963)Purchase of intangible assets (10,125) - Increase in interest in subsidiaries (534,975) (2,365,343)(Purchase) / disposal of short term investments (net) (31,660,583) (21,254,798)(Purchase) / disposal of non current financial assets (net) (10,711) 14,503 Net cash flow from/(used in) investing activities (32,220,501) (23,606,601)

CASH FLOWS FROM / (USED IN) FINANCING ACTIVITIESDividend paid (2,774,934) (1,784,105)Repayment of long term borrowings - (725,295)Net cash flow from / (used in) financing activities (2,774,934) (2,509,400)

NET INCREASE / (DECREASE) IN CASH AND CASH EQUIVALENTS (30,922,403) (22,900,849)

CASH AND CASH EQUIVALENTS AT THE BEGINNING 39,989,189 37,135,335

CASH AND CASH EQUIVALENTS AT THE END 9,066,786 14,234,486

ANALYSIS OF CASH & CASH EQUIVALENTSFavorable balancesShort term investments 10,461,259 14,305,043 Cash in hand and at bank 92,976 236,290 Unfavorable balancesBank overdrafts (1,487,449) (306,847)Total cash and cash equivalents 9,066,786 14,234,486


13

Company Statement of Changes in Equity

Note Statedcapital

Other capital

reserves

Available for

sale reserve

Revenue reserves

Total Equity

As at 1 April 2016 58,701,977 958,310 126,307 41,121,860 100,908,454

Profit for the period - - - 2,621,261 2,621,261

Other comprehensive income - - 5,015 - 5,015

Total comprehensive income - - 5,015 2,621,261 2,626,276

Share based payments - 101,284 - - 101,284

Final dividend paid - 2015/16 10 - - - (1,784,105) (1,784,105)

As at 30 June 2016 58,701,977 1,059,594 131,322 41,959,016 101,851,909

As at 1 April 2017 62,790,080 1,402,656 102,220 49,988,495 114,283,451

Profit for the period - - - 3,006,299 3,006,299

Other comprehensive income - - 5,619 - 5,619

Total comprehensive income - - 5,619 3,006,299 3,011,918

Share based payments - 114,354 - - 114,354

Final dividend paid - 2016/17 10 - - - (2,774,934) (2,774,934)

As at 30 June 2017 62,790,080 1,517,010 107,839 50,219,860 114,634,789



Notes to the Interim Condensed Financial Statements

Operating segment information Business segments The following tables present revenue, profit information and other disclosures regarding Group's business segments.

Transportation Leisure Property Consumer Foods & Retail

Financial Services Financial Services Others Group Total

For the three months ended 30 June 2017 2016 2017 2016 2017 2016 2017 2016 2017 2016 2017 2016 2017 2016 2017 2016

External revenue 3,552,712 2,237,948 4,898,323 4,828,871 169,788 231,438 12,871,965 10,837,730 2,243,794 1,861,007 2,252,834 2,110,474 832,599 624,521 26,822,015 22,731,989

Inter segment revenue 111,875 83,848 1,062 995 54,029 50,363 21,708 92,482 - 4 63,410 49,414 217,903 182,571 469,987 459,677

Total segment revenue 3,664,587 2,321,796 4,899,385 4,829,866 223,817 281,801 12,893,673 10,930,212 2,243,794 1,861,011 2,316,244 2,159,888 1,050,502 807,092 27,292,002 23,191,666

Eliminations of inter segment revenue (469,987) (459,677)

Net revenue 26,822,015 22,731,989

Segment result 189,446 151,973 112,735 536,802 52,261 54,412 1,037,257 1,246,722 (26,663) (143,982) 66,816 22,195 (96,638) 21,768 1,335,214 1,889,890

Finance cost (11,876) (3,976) (64,180) (41,427) (7,445) (10,334) (4,649) (5,462) (179) - (5,179) (5,378) (50,857) (204,641) (144,365) (271,218)

Finance income 27,220 26,229 125,455 70,833 24,717 21,061 37,161 63,588 34,725 130,163 9,149 8,239 1,811,960 918,318 2,070,387 1,238,431

Share of results of equity accounted investees

594,742 537,085 9,246 (4,498) - - - - 230,722 209,917 - - - - 834,710 742,504

Eliminations / adjustments 7,053 (759) (4,258) (4,206) (7,887) (7,719) (3,000) (3,000) - - 4 (1) - - (8,088) (15,685)

Profit / (loss) before tax 806,585 710,552 178,998 557,504 61,646 57,420 1,066,769 1,301,848 238,605 196,098 70,790 25,055 1,664,465 735,445 4,087,858 3,583,922

Tax expense (33,501) (16,096) (72,933) (82,431) (12,270) (8,550) (310,930) (377,076) (3,250) (497) (19,107) (27,204) (620,032) (424,633) (1,072,023) (936,487)

Profit / (loss) for the period 773,084 694,456 106,065 475,073 49,376 48,870 755,839 924,772 235,355 195,601 51,683 (2,149) 1,044,433 310,812 3,015,835 2,647,435

Purchase and construction of PPE* 47,440 11,748 397,292 256,249 126 11,370 783,467 414,370 9,383 10,217 77,090 28,485 38,874 5,465 1,353,672 737,904

Addition to IA* - - - - - - - - 5,538 23,516 2,535 2,615 10,125 - 18,198 26,131

Depreciation of PPE* 24,752 24,430 582,502 381,991 5,995 3,474 237,071 184,545 18,381 20,468 34,022 35,367 31,663 33,890 934,386 684,165

Amortisation / impairment of IA* 769 420 16,773 16,773 193 - 3,316 3,000 55,464 53,836 1,887 2,267 4,558 5,343 82,960 81,639

Amortisation of LRPA* - - 102,897 158,407 5,076 4,392 413 - - - - - 294 294 108,680 163,093

Gratuity provision and related costs 4,051 3,410 31,587 26,509 870 535 31,763 26,705 5,994 5,503 5,076 4,630 12,863 10,942 92,204 78,234


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

15

Operating segment information Business segments The following tables present revenue, profit information and other disclosures regarding Group's business segments.

Transportation Leisure Property Consumer Foods & Retail

Financial Services Information Technology Others Group Total

For the three months ended 30 June 2017 2016 2017 2016 2017 2016 2017 2016 2017 2016 2017 2016 2017 2016 2017 2016

External revenue 3,552,712 2,237,948 4,898,323 4,828,871 169,788 231,438 12,871,965 10,837,730 2,243,794 1,861,007 2,252,834 2,110,474 832,599 624,521 26,822,015 22,731,989

Inter segment revenue 111,875 83,848 1,062 995 54,029 50,363 21,708 92,482 - 4 63,410 49,414 217,903 182,571 469,987 459,677

Total segment revenue 3,664,587 2,321,796 4,899,385 4,829,866 223,817 281,801 12,893,673 10,930,212 2,243,794 1,861,011 2,316,244 2,159,888 1,050,502 807,092 27,292,002 23,191,666

Eliminations of inter segment revenue (469,987) (459,677)

Net revenue 26,822,015 22,731,989

Segment result 189,446 151,973 112,735 536,802 52,261 54,412 1,037,257 1,246,722 (26,663) (143,982) 66,816 22,195 (96,638) 21,768 1,335,214 1,889,890

Finance cost (11,876) (3,976) (64,180) (41,427) (7,445) (10,334) (4,649) (5,462) (179) - (5,179) (5,378) (50,857) (204,641) (144,365) (271,218)

Finance income 27,220 26,229 125,455 70,833 24,717 21,061 37,161 63,588 34,725 130,163 9,149 8,239 1,811,960 918,318 2,070,387 1,238,431

Share of results of equity accounted investees

594,742 537,085 9,246 (4,498) - - - - 230,722 209,917 - - - - 834,710 742,504

Eliminations / adjustments 7,053 (759) (4,258) (4,206) (7,887) (7,719) (3,000) (3,000) - - 4 (1) - - (8,088) (15,685)

Profit / (loss) before tax 806,585 710,552 178,998 557,504 61,646 57,420 1,066,769 1,301,848 238,605 196,098 70,790 25,055 1,664,465 735,445 4,087,858 3,583,922

Tax expense (33,501) (16,096) (72,933) (82,431) (12,270) (8,550) (310,930) (377,076) (3,250) (497) (19,107) (27,204) (620,032) (424,633) (1,072,023) (936,487)

Profit / (loss) for the period 773,084 694,456 106,065 475,073 49,376 48,870 755,839 924,772 235,355 195,601 51,683 (2,149) 1,044,433 310,812 3,015,835 2,647,435

Purchase and construction of PPE* 47,440 11,748 397,292 256,249 126 11,370 783,467 414,370 9,383 10,217 77,090 28,485 38,874 5,465 1,353,672 737,904

Addition to IA* - - - - - - - - 5,538 23,516 2,535 2,615 10,125 - 18,198 26,131

Depreciation of PPE* 24,752 24,430 582,502 381,991 5,995 3,474 237,071 184,545 18,381 20,468 34,022 35,367 31,663 33,890 934,386 684,165

Amortisation / impairment of IA* 769 420 16,773 16,773 193 - 3,316 3,000 55,464 53,836 1,887 2,267 4,558 5,343 82,960 81,639

Amortisation of LRPA* - - 102,897 158,407 5,076 4,392 413 - - - - - 294 294 108,680 163,093

Gratuity provision and related costs 4,051 3,410 31,587 26,509 870 535 31,763 26,705 5,994 5,503 5,076 4,630 12,863 10,942 92,204 78,234


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



Operating segment information Business segments The following table presents segment assets and liabilities of the Group’s business segments. .

Transportation Leisure Property Consumer Foods & Retail Financial Services Information Technology Others Group Total

As at 30.06.2017 31.03.2017 30.06.2017 31.03.2017 30.06.2017 31.03.2017 30.06.2017 31.03.2017 30.06.2017 31.03.2017 30.06.2017 31.03.2017 30.06.2017 31.03.2017 30.06.2017 31.03.2017

Property, plant and equipment 530,897 500,463 43,076,486 43,251,774 2,322,385 2,318,107 9,830,853 9,290,844 1,489,966 1,498,964 303,154 260,153 1,287,624 1,287,795 58,841,365 58,408,100 Lease rentals paid in advance - - 11,498,817 11,495,184 244,617 245,301 148,532 174,701 - - - - 40,386 40,679 11,932,352 11,955,865 Investment property 487,000 487,000 2,148,400 2,148,400 5,231,075 5,230,949 207,042 207,042 - - - - 3,434,063 3,434,063 11,507,580 11,507,454 Intangible assets 13,304 14,072 357,418 374,191 2,771 2,963 34,370 37,685 841,618 891,546 28,954 28,305 36,367 30,802 1,314,802 1,379,564 Non-current financial assets 106,339 74,073 5,587,468 5,710,380 382,341 432,679 237,025 226,097 24,963,182 23,645,619 56,453 57,131 2,898,692 2,827,038 34,231,500 32,973,017 Other non-current assets 14,169 11,163 23,062 25,343 42,722,275 41,379,103 571,033 553,357 64,442 51,378 14,970 15,994 21,672 21,603 43,431,623 42,057,941 Segment non-current assets 1,151,709 1,086,771 62,691,651 63,005,272 50,905,464 49,609,102 11,028,855 10,489,726 27,359,208 26,087,507 403,531 361,583 7,718,804 7,641,980 161,259,222 158,281,941

Investments in equity accounted investees 11,772,136 11,118,544 521,395 512,143 - - - - 6,318,909 6,088,200 - - - - 18,612,440 17,718,887 Deferred tax assets 158,354 143,548 Goodwill 738,596 738,596 Eliminations / adjustments (4,473,731) (4,574,829) Total non-current assets 176,294,881 172,308,143

Inventories 542,733 522,461 330,172 337,494 14,710 15,255 3,828,557 3,840,380 17,061 14,966 645,386 676,063 342,105 217,483 5,720,724 5,624,102 Trade and other receivables 1,440,687 1,685,506 3,029,737 3,474,959 247,129 941,864 2,350,890 2,720,088 756,701 1,415,290 1,575,829 1,938,636 1,110,219 1,084,448 10,511,192 13,260,791 Short term investments 2,166,545 2,053,279 6,425,866 8,188,744 605,500 987,176 1,076,287 553,219 10,186,873 9,318,833 719,210 994,577 61,986,695 60,565,974 83,166,976 82,661,802 Cash in hand and at bank 403,035 290,699 1,345,257 2,198,542 502,986 973,122 295,341 232,360 504,779 336,648 408,038 580,119 177,701 456,679 3,637,137 5,068,169 Segment current assets 4,553,000 4,551,945 11,131,032 14,199,739 1,370,325 2,917,417 7,551,075 7,346,047 11,465,414 11,085,737 3,348,463 4,189,395 63,616,720 62,324,584 103,036,029 106,614,864

Other current assets 4,530,242 3,265,327 Eliminations / adjustments (2,377,335) (4,916,572) Total current assets 105,188,936 104,963,619 Total assets 281,483,817 277,271,762

Insurance contract liabilities - - - - - - - - 33,814,859 31,700,278 - - - - 33,814,859 31,700,278 Interest bearing loans and borrowings - - 8,785,222 6,650,926 12,666,193 12,548,001 586,305 289,896 - - 28,353 - 12,000 12,000 22,078,073 19,500,823 Employee benefit liabilities 95,158 84,859 645,528 638,131 40,787 29,435 574,997 549,079 140,449 138,656 108,349 106,889 343,289 333,238 1,948,557 1,880,287 Other deferred liabilities 1,355 1,640 128,942 120,007 556,610 558,435 52,753 55,490 - - - - 105,780 103,991 845,440 839,563 Other non-current liabilities 10,551 10,267 - - 4,010,237 3,730,151 192,200 193,464 - - - - - - 4,212,988 3,933,882 Segment non-current liabilities 107,064 96,766 9,559,692 7,409,064 17,273,827 16,866,022 1,406,255 1,087,929 33,955,308 31,838,934 136,702 106,889 461,069 449,229 62,899,917 57,854,833

Deferred tax liabilities 2,340,869 2,336,241 Eliminations / adjustments (5,176,849) (5,298,859) Total non-current liabilities 60,063,937 54,892,215

Trade and other payables 1,324,487 847,988 2,408,983 2,074,128 678,095 1,382,676 5,600,718 5,293,347 1,257,538 1,955,235 1,503,358 1,994,141 915,166 768,391 13,688,345 14,315,906 Short term borrowings 1,570,442 1,389,643 953,195 3,487,404 - - - - - - - - 12,074 12,074 2,535,711 4,889,121 Interest bearing loans and borrowings - - 1,164,782 2,662,075 194,975 181,645 57,500 65,000 - - 2 10,134 - - 1,417,259 2,918,854 Bank overdrafts 244,626 374,011 1,142,823 1,847,574 947,615 709,561 1,106,110 766,477 168,024 137,849 264,224 338,122 1,497,753 90,515 5,371,175 4,264,109 Segment current liabilities 3,139,555 2,611,642 5,669,783 10,071,181 1,820,685 2,273,882 6,764,328 6,124,824 1,425,562 2,093,084 1,767,584 2,342,397 2,424,993 870,980 23,012,490 26,387,990

Income tax liabilities 3,329,366 2,395,379 Other current liabilities 2,620,977 2,944,118 Eliminations / adjustments (2,682,522) (3,678,315) Total current liabilities 26,280,311 28,049,172 Total liabilities 86,344,248 82,941,387

Total segment assets 5,704,709 5,638,716 73,822,683 77,205,011 52,275,789 52,526,519 18,579,930 17,835,773 38,824,622 37,173,244 3,751,994 4,550,978 71,335,524 69,966,564 264,295,251 264,896,805 Total segment liabilities 3,246,619 2,708,408 15,229,475 17,480,245 19,094,512 19,139,904 8,170,583 7,212,753 35,380,870 33,932,018 1,904,286 2,449,286 2,886,062 1,320,209 85,912,407 84,242,823


17

Operating segment information Business segments The following table presents segment assets and liabilities of the Group’s business segments. .

Transportation Leisure Property Consumer Foods & Retail Financial Services Information Technology Others Group Total

As at 30.06.2017 31.03.2017 30.06.2017 31.03.2017 30.06.2017 31.03.2017 30.06.2017 31.03.2017 30.06.2017 31.03.2017 30.06.2017 31.03.2017 30.06.2017 31.03.2017 30.06.2017 31.03.2017

Property, plant and equipment 530,897 500,463 43,076,486 43,251,774 2,322,385 2,318,107 9,830,853 9,290,844 1,489,966 1,498,964 303,154 260,153 1,287,624 1,287,795 58,841,365 58,408,100 Lease rentals paid in advance - - 11,498,817 11,495,184 244,617 245,301 148,532 174,701 - - - - 40,386 40,679 11,932,352 11,955,865 Investment property 487,000 487,000 2,148,400 2,148,400 5,231,075 5,230,949 207,042 207,042 - - - - 3,434,063 3,434,063 11,507,580 11,507,454 Intangible assets 13,304 14,072 357,418 374,191 2,771 2,963 34,370 37,685 841,618 891,546 28,954 28,305 36,367 30,802 1,314,802 1,379,564 Non-current financial assets 106,339 74,073 5,587,468 5,710,380 382,341 432,679 237,025 226,097 24,963,182 23,645,619 56,453 57,131 2,898,692 2,827,038 34,231,500 32,973,017 Other non-current assets 14,169 11,163 23,062 25,343 42,722,275 41,379,103 571,033 553,357 64,442 51,378 14,970 15,994 21,672 21,603 43,431,623 42,057,941 Segment non-current assets 1,151,709 1,086,771 62,691,651 63,005,272 50,905,464 49,609,102 11,028,855 10,489,726 27,359,208 26,087,507 403,531 361,583 7,718,804 7,641,980 161,259,222 158,281,941

Investments in equity accounted investees 11,772,136 11,118,544 521,395 512,143 - - - - 6,318,909 6,088,200 - - - - 18,612,440 17,718,887 Deferred tax assets 158,354 143,548 Goodwill 738,596 738,596 Eliminations / adjustments (4,473,731) (4,574,829) Total non-current assets 176,294,881 172,308,143

Inventories 542,733 522,461 330,172 337,494 14,710 15,255 3,828,557 3,840,380 17,061 14,966 645,386 676,063 342,105 217,483 5,720,724 5,624,102 Trade and other receivables 1,440,687 1,685,506 3,029,737 3,474,959 247,129 941,864 2,350,890 2,720,088 756,701 1,415,290 1,575,829 1,938,636 1,110,219 1,084,448 10,511,192 13,260,791 Short term investments 2,166,545 2,053,279 6,425,866 8,188,744 605,500 987,176 1,076,287 553,219 10,186,873 9,318,833 719,210 994,577 61,986,695 60,565,974 83,166,976 82,661,802 Cash in hand and at bank 403,035 290,699 1,345,257 2,198,542 502,986 973,122 295,341 232,360 504,779 336,648 408,038 580,119 177,701 456,679 3,637,137 5,068,169 Segment current assets 4,553,000 4,551,945 11,131,032 14,199,739 1,370,325 2,917,417 7,551,075 7,346,047 11,465,414 11,085,737 3,348,463 4,189,395 63,616,720 62,324,584 103,036,029 106,614,864

Other current assets 4,530,242 3,265,327 Eliminations / adjustments (2,377,335) (4,916,572) Total current assets 105,188,936 104,963,619 Total assets 281,483,817 277,271,762

Insurance contract liabilities - - - - - - - - 33,814,859 31,700,278 - - - - 33,814,859 31,700,278 Interest bearing loans and borrowings - - 8,785,222 6,650,926 12,666,193 12,548,001 586,305 289,896 - - 28,353 - 12,000 12,000 22,078,073 19,500,823 Employee benefit liabilities 95,158 84,859 645,528 638,131 40,787 29,435 574,997 549,079 140,449 138,656 108,349 106,889 343,289 333,238 1,948,557 1,880,287 Other deferred liabilities 1,355 1,640 128,942 120,007 556,610 558,435 52,753 55,490 - - - - 105,780 103,991 845,440 839,563 Other non-current liabilities 10,551 10,267 - - 4,010,237 3,730,151 192,200 193,464 - - - - - - 4,212,988 3,933,882 Segment non-current liabilities 107,064 96,766 9,559,692 7,409,064 17,273,827 16,866,022 1,406,255 1,087,929 33,955,308 31,838,934 136,702 106,889 461,069 449,229 62,899,917 57,854,833

Deferred tax liabilities 2,340,869 2,336,241 Eliminations / adjustments (5,176,849) (5,298,859) Total non-current liabilities 60,063,937 54,892,215

Trade and other payables 1,324,487 847,988 2,408,983 2,074,128 678,095 1,382,676 5,600,718 5,293,347 1,257,538 1,955,235 1,503,358 1,994,141 915,166 768,391 13,688,345 14,315,906 Short term borrowings 1,570,442 1,389,643 953,195 3,487,404 - - - - - - - - 12,074 12,074 2,535,711 4,889,121 Interest bearing loans and borrowings - - 1,164,782 2,662,075 194,975 181,645 57,500 65,000 - - 2 10,134 - - 1,417,259 2,918,854 Bank overdrafts 244,626 374,011 1,142,823 1,847,574 947,615 709,561 1,106,110 766,477 168,024 137,849 264,224 338,122 1,497,753 90,515 5,371,175 4,264,109 Segment current liabilities 3,139,555 2,611,642 5,669,783 10,071,181 1,820,685 2,273,882 6,764,328 6,124,824 1,425,562 2,093,084 1,767,584 2,342,397 2,424,993 870,980 23,012,490 26,387,990

Income tax liabilities 3,329,366 2,395,379 Other current liabilities 2,620,977 2,944,118 Eliminations / adjustments (2,682,522) (3,678,315) Total current liabilities 26,280,311 28,049,172 Total liabilities 86,344,248 82,941,387

Total segment assets 5,704,709 5,638,716 73,822,683 77,205,011 52,275,789 52,526,519 18,579,930 17,835,773 38,824,622 37,173,244 3,751,994 4,550,978 71,335,524 69,966,564 264,295,251 264,896,805 Total segment liabilities 3,246,619 2,708,408 15,229,475 17,480,245 19,094,512 19,139,904 8,170,583 7,212,753 35,380,870 33,932,018 1,904,286 2,449,286 2,886,062 1,320,209 85,912,407 84,242,823




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 listed 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 June 2017, 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 3 months ended 30 June

2017 were authorised for issue by the Board of Directors on 27 July 2017.

4 BASIS OF PREPARATION The interim condensed financial statements have been prepared in compliance with Sri Lanka Accounting

Standard 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 2017.

The presentation and classification of the financial statements of the previous period have been amended, where relevant, for better presentation and to be comparable with those of the current period.

The interim condensed financial statements are presented in Sri Lankan Rupees (LKR) and all values are rounded to the nearest thousand except when otherwise indicated.

5 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

6 CHANGE IN INSURANCE CONTRACT LIABILITIES The results of Union Assurance PLC are consolidated line by line into the Group's consolidated income

statement. The change in 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.

19

7 TAX EXPENSE

Group CompanyFor the three months ended 30th June 2017 2016 2017 2016In LKR '000s

Income statement

Current income tax 1,070,779 958,140 352,317 232,115

Deferred tax charge/(reversal) 1,244 (21,653) - -

1,072,023 936,487 352,317 232,115

Other comprehensive Income

Deferred tax charge/(reversal) 836 (1,185) - -

836 (1,185) - -

8 RELATED PARTY TRANSACTIONS

Group CompanyFor the three months ended 30th June 2017 2016 2017 2016In LKR '000s

Transactions with related parties

Subsidiaries

Purchases of goods - - 4,173 1,107

Rendering of services - - 204,709 164,074

Receiving of services - - 13,735 5,872

Rent paid - - 8,686 8,814

Equity accounted investees

Sale of goods 18,914 9,827 - -

Purchases of goods 1,903 1,653 - -

Rendering of services 106,160 166,860 76,094 71,731

Receiving of services 103,812 100,402 26,881 7,836

Interest received 75,125 45,584 35,575 37,262

Interest paid 241 1,030 - -

Key management personnel (KMP)

Sale of goods - - - -

Close family members of KMP


Companies controlled/jointly controlled/significantly influenced by KMP and their close family members of KMP


Post employment benefit plan

Contributions to the provident fund 64,401 62,349 16,016 13,283



9 Share information9.1 Stated capital Stated capital is represented by number of shares in issue as given below:

As at 30-06-2017 31-03-2017

Ordinary shares 1,386,146,195 1,386,146,195 Global depository receipts 1,320,942 1,320,942

9.2 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 June 2017.

9.3 Market price per share For the three months ended 30th June 2017 2016

LKR. LKR.

Highest 180.00 165.00 Lowest 138.00 135.00 Last traded 178.80 135.00

9.4 Public share holdings The percentage of shares held by the public as at 30 June 2017 was 97.53% (31 March 2017 -

97.53%). The number of public shareholders as at 30 June 2017 was 11,000 (31 March 2017 - 11,979).

9.5 Directors' share holdings The number of shares held by the Board of Directors (including their spouses) are as follows:

As at 30-06-2017 31-03-2017

S C Ratnayake – Chairman/CEO 9,241,144 9,241,144 A D Gunewardene – Deputy Chairman 10,989,350 10,989,350 J R F Peiris 2,966,800 2,966,800 K N J Balendra 10,914,400 10,914,400 J G A Cooray 207,105 207,105 D A Cabraal 137 137 A N Fonseka Nil Nil M A Omar Nil Nil M P Perera Nil Nil S S H Wijayasuriya Nil Nil

21

9.6 Twenty largest shareholders of the company are as follows:

30-06-2017 31-03-2017As at Number of

shares % Number of

shares %

1 Broga Hill Investment Ltd 141,854,717 10.2% 141,854,717 10.2%2 Mr S E Captain 138,806,417 10.0% 149,425,524 10.8%3 Paints & General Industries Ltd 89,935,774 6.5% 96,064,501 6.9%4 Schroder International Selection Fund 61,086,128 4.4% 53,706,223 3.9%5 Melstacorp (Private) Ltd 49,667,842 3.6% 52,023,842 3.7%6 HWIC Asia Fund 34,164,753 2.5% 29,164,753 2.1%7 Aberdeen Global Asia Pacific Equity Fund 31,257,908 2.3% 31,257,908 2.3%8 Aberdeen Global-Asian Smaller Companies Fund 30,213,338 2.2% 26,913,338 1.9%9 Aberdeen Institutional Commingled Funds LLC 28,621,813 2.1% 29,706,813 2.1%10 Aberdeen Global - Emerging Markets Smaller

Companies Fund 23,463,481 1.7% 25,263,481 1.8%

11 Employees Trust Fund 22,143,650 1.6% 23,366,748 1.7%12 Mr K Balendra 19,606,476 1.4% 19,606,476 1.4%13 London- Edinburgh Dragon Trust PLC 17,947,390 1.3% 17,947,390 1.3%14 SSBT - First State Investments ICVC 15,486,461 1.1% 8,769,742 0.6%15 BBH Luxfidelity Fund-Pacific 14,959,227 1.1% 8,190,992 0.6%16 London - Aberdeen Asia Pacific Equity Fund 14,891,083 1.1% 14,891,083 1.1%17 Northen Trust Co S/A Edgbaston Asian Equity Trust 13,971,919 1.0% 13,971,919 1.0%18 Mrs S A J De Fonseka 12,935,666 0.9% 12,825,666 0.9%19 Mr C S De Fonseka 12,896,423 0.9% 12,894,788 0.9%20 JPMCB-T Rowe New Asia Fund 12,831,617 0.9% - N/A

10 Dividends paidCompany

For the three months ended 30th June 2017 2016

Final dividend for 2016/17 LKR 2.00 (2015/16 LKR 1.50 ) 2,774,934 1,784,105

11 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 2017.

12 Events after the reporting period There have been no events subsequent to the reporting date, which require disclosure in the

interim condensed financial statement.

Name of CompanyJohn Keells Holdings PLC

Legal FormPublic Limited Liability CompanyIncorporated in Sri Lanka in 1979Ordinary Shares listed on the Colombo Stock ExchangeGDRs listed on the Luxembourg Stock Exchange

Company Registration No.PQ 14

DirectorsS C Ratnayake - ChairmanA D Gunewardene - Deputy ChairmanJ R F Peiris - Group Finance DirectorK N J Balendra J G A CoorayD A CabraalA N FonsekaM A OmarM P PereraS S H Wijayasuriya

Senior Independent DirectorA N Fonseka

Audit CommitteeA N Fonseka - ChairmanD A CabraalM P Perera

Human Resources and Compensation CommitteeD A Cabraal - ChairmanM A OmarS S H Wijayasuriya

Nominations CommitteeM A Omar - ChairmanM P PereraS C RatnayakeS S H Wijayasuriya

Related Party Transaction Review CommitteeM P Perera - ChairpersonD A CabraalA N FonsekaS C Ratnayake

Registered Office of the Company117 Sir Chittampalam A. Gardiner Mawatha,Colombo 2, Sri LankaTelephone : +94 11 230 6000Internet : www.keells.comEmail : [email protected]

SecretariesKeells Consultants (Private) Limited117 Sir Chittampalam A. Gardiner Mawatha,Colombo 2, Sri LankaTelephone : +94 11 230 6245Facsimile : +94 11 243 9037

Investor RelationsJohn Keells Holdings PLC117 Sir Chittampalam A. Gardiner Mawatha,Colombo 2, Sri LankaTelephone : +94 11 230 6166Facsimile : +94 11 230 6160Email : [email protected]

Sustainability, Enterprise Risk Management and Group Initiatives186 Vauxhall StreetColombo 2, Sri LankaTelephone : +94 11 230 6182Facsimile : +94 11 230 6249Email : [email protected]

Contact for Media Corporate Communications DivisionJohn Keells Holdings PLC117 Sir Chittampalam A. Gardiner Mawatha,Colombo 2, Sri LankaTelephone : +94 11 230 6191Email : [email protected]

AuditorsErnst & YoungChartered AccountantsP.O. Box 101Colombo, Sri Lanka

Bankers for the CompanyBank of CeylonCitibank N.A.Commercial Bank of CeylonDeutsche Bank A.G.DFCC BankHabib BankHatton National BankHongkong and Shanghai Banking CorporationMCB BankNational Savings BankNations Trust BankNDB BankPan Asia Banking CorporationPeople’s BankSampath BankSeylan BankStandard Chartered Bank

Depository for GDRsCitibank N.A. New York

Corporate Information

www.keells.com

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