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JKH Group Revenue and EBITDA, excluding Leisure, increases by 5%

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The JKH Group reported that Revenue and EBITDA, excluding Leisure, increased by 5 percent.

The handover of Cinnamon Life residential and office units will commence in March 2021

The key operational and financial highlights of the Group’s performance during the quarter under review:

• Despite the isolation measures adopted by the authorities due to the second wave of the COVID-19 outbreak in early October 2020, which caused a slowdown in business activity and dampened consumer sentiment, the subsequent gradual easing of restrictions enabled the businesses across the Group to recover to near normal levels by December, with the exception of Leisure.

Group EBITDA excluding the Leisure industry group stood at Rs. 5.22 billion during the third quarter of the year under review, which is a 5 per cent increase against the previous year [2019/20 Q3: Rs. 4.99 billion].

The Certificates of Conformity (COC) for the Cinnamon Life office tower and ‘The Suites’ residential tower have been obtained, which will enable hand-over of the residential apartments and office tower to commence, on a staggered basis, from the fourth quarter of 2020/21 onwards.

The Supermarket business continued its positive momentum with overall revenue and EBITDA recording growth over the previous year driven by the contribution from new outlets, despite the closure or limited operations of outlets in certain isolated areas.

The Insurance business continued its recovery momentum recording encouraging growth in all its channels of distribution, amidst a challenging environment.

The year-on-year comparison of the Transportation industry group is distorted, primarily since the comparative quarter of the previous year had above-average profitability in the Bunkering business on account of a transition to low sulphur fuel oil (LSFO), well ahead of competition.

The pace of construction at ‘Cinnamon Life’ continued to gain momentum during the latter part of the quarter despite the disruptions due to the second wave. The business continues to closely monitor the evolving ground situation and resultant impacts on the overall timelines of the hotel and the shopping mall.

The overall performance and volumes in the Frozen Confectionery, Beverage and Convenience Foods businesses demonstrated a pick-up towards December once activity in the country returned to more normalised levels, although the performance for the quarter was hampered due to the onset of the second wave of COVID-19.

The Maldivian Resorts segment demonstrated an encouraging performance following the opening of the airport in the Maldives in mid-July, with occupancy increasing to 53 per cent in the month of December, resulting in the segment recording a positive EBITDA for the quarter.

The Leisure businesses in Sri Lanka continued to be impacted by the pandemic due to the closure of the airport and lower revenue from dining and banqueting due to the outbreak of the second wave. The airports in Sri Lanka were opened on 21 January 2021 for tourist arrivals under stringent health and safety protocols.

 

 



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Next Meats, Purveyor of the World’s First Plant-based Yakiniku Meats, Is Now in Singapore

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The Tokyo-based startup makes its debut in the alt-protein hotspot of Singapore Next Meats has collaborated with Aburi-EN to deliver two new meal sets Made with soybean proteins, the Kalbi contains no chemical additives or animal ingredients

SINGAPORE –

 Media OutReach – 14 April 2021 – Next Meats, a purveyor of the world’s first plant-based yakiniku meats, is making its debut in the alternative protein hotspot, Singapore! The Japanese alternative meat company has collaborated this time with popular Japanese restaurant Aburi-EN, which will offer two types of set meals using the NEXT Kalbi (boneless short rib) for the very first time. Made largely from soy proteins, the NEXT Kalbi contains double the amount of protein and half the fats than that of regular meat and even more, it does not contain any chemical additives or cholesterol due to its lack of animal ingredients. Now, Singaporeans can enjoy yakiniku without the guilt! 

The two new menus available at Aburi-EN are the Kalbi Don Set (S$13.80) and the Stamina Teishoku (S$15.80) — which are available for a limited time only. Next Meats has specifically chosen to work with Aburi-EN as they are a Japanese grilled-meat specialist. The two menus are the culmination of many months of research and development, and they will also be Aburi-EN’s first-ever plant-based dishes.

For the Kalbi Don Set, Next Meat’s Kalbi is grilled and served atop a bowl of fragrant Japanese steamed rice. Equally indulgent, the Stamina Teishoku features the Kalbi stir-fried with cabbage along with egg imported from Okinawa. The meat is then served with fragrant Japanese steamed rice, salad, pickles and miso soup. For both dishes, the meats are glazed with a special homemade sauce that packs an irresistible umami punch.   

 Both the Kalbi Don Set and Stamina Teishoku will be available at all Aburi-EN stores from April to July 2021.

 An advocate of sustainable food production and better food security

 The NEXT Kalbi is one of Next Meats’ innovative offerings, which includes other plant-based delicacies such as the NEXT burger and NEXT gyudon (beef bowl). The company champions the importance of saving the planet and humanity through reducing the emission of greenhouse gases (which is produced from meat consumption and animal agriculture) and utilizing biotechnology to combat protein deficiency.

 Through extensive research and development, Next Meats has culminated the knowhow on using molecular binding to mould vegetable proteins from powder. Buoyed by state-of-the-art, proprietary technologies, the company has successfully created vegan substitutes that replicate the texture of real meat.

 

 

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Lanka Hospitals tops healthcare sector in LMD’s Most Awarded Entities

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Lanka hospitals, the internationally accredited multiple award-winning healthcare provider, topped the healthcare sector in the Most Awarded list compiled by LMD magazine for 2019/20.

Designed to rank the most awarded entities in Sri Lanka, LMD conducted the research, the first of its kind in Sri Lanka, involving 204 corporate entities, based on the cumulative tally of awards received from 52 awarding bodies between January 2019 to September 2020.

With a total of five awards, securing the overall rank of 67, Lanka Hospitals came first in the healthcare sector.

Deepthi Lokuarachchi, Group CEO, Lanka Hospitals, said three factors contributed towards Lanka Hospitals’ award winning process; profound commitment to quality, service standard in healthcare and the accreditation of Joint Commission International (JCI).

“Our stringent standards for quality have earned accolades and accreditations from numerous national and international agencies. Lanka Hospitals has been in the forefront of healthcare providers since 2009 and, particularly, between 2019 and 2020, we were able to win seven national and international awards including one for environmental management systems”, he said.

As a result of superior facilities, customer care and quality of service Lanka Hospitals offers, a growth was experienced in terms of medical tourists during the Covid-19 pandemic even though the inbound international population was restricted. JCI, a US-based accreditation agency, rates healthcare services based on several criteria related to medical as well as non medical services”, he noted.

In terms of corporate responsibility, Lanka Hospitals focuses on skills development, medical care and donations. Every year, Lanka Hospitals’ nursing school enrolls batches from outside the Western province and upon the successful completion of the course they are offered employment, he added.

 

 

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Sino Lanka Power Gen to install 2MW solar power at Taprobane Seafood Dankotuwa plant

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Sino Lanka Power Gen announced its partnership with Taprobane Seafood to supply and install a one-megawatt solar photovoltaic (PV) system at their plant in Dankotuwa. This is the first of a two-phased project with the second megawatt to be installed in two years. The collaboration will result in a 19,000 tonne reduction in Taprobane’s carbon footprint over 20 years, a company news release said.

“Combating climate change has become critical and we are delighted to team up with Taprobane Seafood to be a part of their solar expansion strategy,” said Dhiren Kundanmal, Director of Sino Lanka Power Gen. “We are honoured that Taprobane Seafood, being a conscientious brand aiming to reduce its carbon footprint, is looking towards us as a working partner in this area. Our approach is fivefold i.e., improve yields and plant performance, reduce downtime, holistic monitoring, skill transfer, and finally minimising their liability and risk.”

Commenting on the partnership, Taprobane’s Managing Director Timothy O’Reilly said Taprobane Seafood has always been at the forefront of ethical labour practices, sustainable development, and earth friendly practices. “Shifting to solar energy is an important step in our sustainability journey and we believe Sino Lanka is the right partner for us given their expertise in the renewable energy industry,” he said.

Established in 2010, the Taprobane Seafood Group is Sri Lanka’s leading seafood company with over 1,500 direct employees in 11 processing facilities throughout the north-western and northern province. With high quality standards, social responsibility, and sustainability values, Taprobane’s vision is to be the global leader in sustainable and socially responsible seafood.

Sino Lanka Power Gen provides state-of-the-art equipment, capable of withstanding harsh tropical environments, utilising the latest technology from Canadian Solar and SunPower, alongside Tier 1 purpose-built inverters. The company adopts the latest industry trends -namely IoT, big data, and AI- to ensure their systems perform optimally for well over 20 years.

Sino Lanka Power Gen’s vision is to support the government’s initiatives on the “Soorya Bala Sangramaya” policy statement that sets a target of meeting 70% of the country’s total electricity demand from renewable energy sources by 2030.

Sino Lanka Power Gen is a joint venture between the Sino Lanka Group – an Asian enterprise with investments in real estate, hospitality, chemicals, healthcare, financial services, and rooftop solar, among others-, and the Atman Group, an investment holding company with investments in renewable energy, hospitality, real estate, and agriculture.

Sino Lanka Power Gen provides reliable and modern renewable and sustainable sources of energy for businesses, with a dedicated engineering and operations team that counts over 25 years of collective experience in implementing rooftop solar projects across Sri Lanka.

 

 

 

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