Asian Hotels and Properties PLC has recorded a loss of Rs. 574.82 million during the quarter that ended on 31 December 2020, compared to a profit of Rs. 103.3 million during the same period the previous year.
The company stated that the Asian company has recorded a 518% loss of Rs. 1,521.68 million in 2020, compared to the loss of Rs. 246.10 million for the nine months ended on 31 December 2020, in a corporate disclosure to the Colombo Stock Exchange (CSE) on Tuesday (19).
The company has recorded a gross loss of Rs. 51.9 million during the quarter ended on 31 December 2020, compared to a gross profit of Rs. 824.75 million during the same period the previous year, which is a decline of 106%. It was stated that the company recorded a gross loss of Rs. 84.52 million in the first nine months of last year and this is a decline of 105%, compared to the same period previous year. The company recorded a gross profit of Rs. 1,817 million during that period.
Earnings of the company shares witnessed a loss of Rs. 1.06 per share during this period while during the fourth quarter of 2019, earnings of the shares were recorded as Rs. 0.10.
Asian Hotels and Properties PLC is a subsidiary of John Keells Holdings (Pvt.) Ltd., with two segments – Hotel and Property. The Property segment operates property development and rents out premises in Sri Lanka, and the Hotel segment operates Cinnamon Grand Hotel, Cinnamon Lakeside, etc. and is also involved in the development and management of residential and commercial properties such as the AHPL.
Asian Hotels and Properties records losses in 4Q20
21 Jan 2021
Asian Hotels and Properties records losses in 4Q20
21 Jan 2021