Announcement • May 06
Aitken Spence Hotel Holdings PLC (COSE:AHUN.N0000) and Merchant Bank of Sri Lanka & Finance PLC (COSE:MBSL.N0000) proposed to acquire an additional remaining majority stake in Browns Beach Hotels PLC (COSE:BBH.N0000). Aitken Spence Hotel Holdings PLC (COSE:AHUN.N0000) and Merchant Bank of Sri Lanka & Finance PLC (COSE:MBSL.N0000) proposed to acquire an unknown additional remaining majority stake in Browns Beach Hotels PLC (COSE:BBH.N0000) on April 30, 2026. A cash consideration of LKR 30 will be paid by Aitken Spence Hotel Holdings PLC and Merchant Bank Sri Lanka & Finance PLC.
The transaction is subject to approval of offer by target shareholders. The deal has been approved by shareholders of Browns Beach Hotels PLC. The expected completion of the transaction is June 5, 2026. New Risk • Dec 01
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: LK₨2.98b (US$9.67m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.4x net interest cover). Negative equity (-LK₨790m). Market cap is less than US$10m (LK₨2.98b market cap, or US$9.67m). Reported Earnings • Nov 17
Second quarter 2026 earnings released: EPS: LK₨0.03 (vs LK₨0.66 loss in 2Q 2025) Second quarter 2026 results: EPS: LK₨0.03 (up from LK₨0.66 loss in 2Q 2025). Revenue: LK₨424.0m (up 32% from 2Q 2025). Net income: LK₨3.72m (up LK₨89.8m from 2Q 2025). Profit margin: 0.9% (up from net loss in 2Q 2025). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 55% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 16
First quarter 2026 earnings released: LK₨0.34 loss per share (vs LK₨0.93 loss in 1Q 2025) First quarter 2026 results: LK₨0.34 loss per share (improved from LK₨0.93 loss in 1Q 2025). Revenue: LK₨328.9m (up 19% from 1Q 2025). Net loss: LK₨44.3m (loss narrowed 63% from 1Q 2025). Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has only increased by 23% per year, which means it is significantly lagging earnings growth. Announcement • Jun 18
Browns Beach Hotels PLC, Annual General Meeting, Jul 04, 2025 Browns Beach Hotels PLC, Annual General Meeting, Jul 04, 2025, at 11:30 Sri Lanka Standard Time. Announcement • Jun 14
Browns Beach Hotels PLC Auditor Raises 'Going Concern' Doubt Browns Beach Hotels PLC filed its Annual on Jun 12, 2025 for the period ending Mar 31, 2025. In this report its auditor, KPMG LLP - Klynveld Peat Marwick Goerdeler, gave an unqualified opinion expressing doubt that the company can continue as a going concern. Board Change • Jun 13
High number of new directors There are 6 new directors who have joined the board in the last 3 years. Non-Independent Non-Executive Director Rajan Brito was the last director to join the board, commencing their role in 2025. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Jun 02
Full year 2025 earnings released: LK₨1.19 loss per share (vs LK₨3.60 loss in FY 2024) Full year 2025 results: LK₨1.19 loss per share (improved from LK₨3.60 loss in FY 2024). Revenue: LK₨1.49b (up 15% from FY 2024). Net loss: LK₨153.9m (loss narrowed 67% from FY 2024). Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has increased by 29% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Feb 12
Third quarter 2025 earnings released: LK₨0.23 loss per share (vs LK₨0.73 loss in 3Q 2024) Third quarter 2025 results: LK₨0.23 loss per share (improved from LK₨0.73 loss in 3Q 2024). Revenue: LK₨370.9m (up 6.2% from 3Q 2024). Net loss: LK₨29.8m (loss narrowed 69% from 3Q 2024). Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 18% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Nov 15
Second quarter 2025 earnings released: LK₨0.66 loss per share (vs LK₨0.70 loss in 2Q 2024) Second quarter 2025 results: LK₨0.66 loss per share (improved from LK₨0.70 loss in 2Q 2024). Revenue: LK₨320.3m (up 13% from 2Q 2024). Net loss: LK₨86.1m (loss narrowed 5.2% from 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Reported Earnings • Aug 14
First quarter 2025 earnings released: LK₨0.93 loss per share (vs LK₨1.91 loss in 1Q 2024) First quarter 2025 results: LK₨0.93 loss per share (improved from LK₨1.91 loss in 1Q 2024). Revenue: LK₨277.4m (up 79% from 1Q 2024). Net loss: LK₨120.7m (loss narrowed 51% from 1Q 2024). Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Announcement • Jul 16
Browns Beach Hotels PLC, Annual General Meeting, Aug 06, 2024 Browns Beach Hotels PLC, Annual General Meeting, Aug 06, 2024, at 11:30 Sri Lanka Standard Time. Reported Earnings • May 30
Full year 2024 earnings released: LK₨3.60 loss per share (vs LK₨7.85 loss in FY 2023) Full year 2024 results: LK₨3.60 loss per share (improved from LK₨7.85 loss in FY 2023). Revenue: LK₨1.30b (up 96% from FY 2023). Net loss: LK₨467.0m (loss narrowed 54% from FY 2023). Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has increased by 14% per year, which means it is well ahead of earnings. Reported Earnings • Feb 16
Third quarter 2024 earnings released: LK₨0.73 loss per share (vs LK₨1.76 loss in 3Q 2023) Third quarter 2024 results: LK₨0.73 loss per share (improved from LK₨1.76 loss in 3Q 2023). Revenue: LK₨349.4m (up 133% from 3Q 2023). Net loss: LK₨95.0m (loss narrowed 58% from 3Q 2023). Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Reported Earnings • Nov 14
Second quarter 2024 earnings released: LK₨0.70 loss per share (vs LK₨1.63 loss in 2Q 2023) Second quarter 2024 results: LK₨0.70 loss per share (improved from LK₨1.63 loss in 2Q 2023). Revenue: LK₨283.7m (up 138% from 2Q 2023). Net loss: LK₨90.9m (loss narrowed 57% from 2Q 2023). Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. New Risk • Aug 11
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -LK₨528m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-LK₨528m free cash flow). Share price has been highly volatile over the past 3 months (8.5% average weekly change). Negative equity (-LK₨436m). Earnings have declined by 19% per year over the past 5 years. Market cap is less than US$10m (LK₨2.01b market cap, or US$6.28m). Minor Risk Revenue is less than US$5m (LK₨665m revenue, or US$2.1m). Reported Earnings • Aug 10
First quarter 2024 earnings released: LK₨1.91 loss per share (vs LK₨0.22 loss in 1Q 2023) First quarter 2024 results: LK₨1.91 loss per share (further deteriorated from LK₨0.22 loss in 1Q 2023). Revenue: LK₨155.3m (up 3.0% from 1Q 2023). Net loss: LK₨247.1m (loss widened LK₨218.2m from 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has increased by 16% per year, which means it is well ahead of earnings. New Risk • Jul 04
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Sri Lankan stocks, typically moving 8.1% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (8.1% average weekly change). Negative equity (-LK₨189m). Earnings have declined by 15% per year over the past 5 years. Market cap is less than US$10m (LK₨1.43b market cap, or US$4.67m). Minor Risk Revenue is less than US$5m (LK₨660m revenue, or US$2.2m). Announcement • Jun 09
Browns Beach Hotels PLC, Annual General Meeting, Jun 30, 2023 Browns Beach Hotels PLC, Annual General Meeting, Jun 30, 2023, at 11:30 Sri Lanka Standard Time. Location: No. 315, Vauxhall Street, Colombo 02 Sri Lanka Agenda: To receive and consider the Annual Report of the Board of Directors together with the Financial Statements for the year ended 31st March 2023 and the Report of the Auditors' thereon; to consider directorate reappointments; to authorize the Directors to determine contributions to charities; to re-appoint the retiring External Auditors, Messrs. KPMG, Chartered Accountants and authorize the Directors to determine their remuneration; and to consider other matters. Reported Earnings • May 27
Full year 2023 earnings released: LK₨7.85 loss per share (vs LK₨3.43 loss in FY 2022) Full year 2023 results: LK₨7.85 loss per share (further deteriorated from LK₨3.43 loss in FY 2022). Revenue: LK₨660.1m (up 56% from FY 2022). Net loss: LK₨1.02b (loss widened 129% from FY 2022). Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has increased by 14% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Feb 10
Third quarter 2023 earnings released: LK₨1.76 loss per share (vs LK₨0.81 loss in 3Q 2022) Third quarter 2023 results: LK₨1.76 loss per share (further deteriorated from LK₨0.81 loss in 3Q 2022). Revenue: LK₨149.9m (up 15% from 3Q 2022). Net loss: LK₨227.8m (loss widened 116% from 3Q 2022). Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 2 highly experienced directors. 3 independent directors (4 non-independent directors). Independent Non-Executive Director Nirj Deva De Silva Deva Aditya was the last independent director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Nov 05
Second quarter 2023 earnings released: LK₨1.63 loss per share (vs LK₨1.12 loss in 2Q 2022) Second quarter 2023 results: LK₨1.63 loss per share (further deteriorated from LK₨1.12 loss in 2Q 2022). Revenue: LK₨119.3m (up 246% from 2Q 2022). Net loss: LK₨211.7m (loss widened 46% from 2Q 2022). Over the last 3 years on average, earnings per share has increased by 8% per year whereas the company’s share price has increased by 3% per year. Announcement • Jun 08
Browns Beach Hotels PLC, Annual General Meeting, Jun 30, 2022 Browns Beach Hotels PLC, Annual General Meeting, Jun 30, 2022, at 12:00 Sri Lanka Standard Time. Location: at No. 315, Vauxhall Street Colombo 02 Sri Lanka Agenda: To receive and consider the Annual Report of the Board of Directors together with the Financial Statements for the year ended 31st March 2022 and the Report of the Auditors thereon; to re-appoint Deshamanya D.H.S. Jayawardena who is over the age of 70 years, as a Director by passing the following Resolution; to consider the re-appointment of directors of the company; to authorize the Directors to determine contributions to charities; to re-appoint the retiring External Auditors, Messrs. KPMG, Chartered Accountants and authorize the Directors to determine their remuneration; and to consider any other business of which due notice has been given. Reported Earnings • May 30
Full year 2022 earnings released: LK₨3.33 loss per share (vs LK₨5.07 loss in FY 2021) Full year 2022 results: LK₨3.33 loss per share (up from LK₨5.07 loss in FY 2021). Revenue: LK₨422.1m (up 379% from FY 2021). Net loss: LK₨431.4m (loss narrowed 34% from FY 2021). Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 2 highly experienced directors. 3 independent directors (4 non-independent directors). Independent Non-Executive Director Nirj Deva De Silva Deva Aditya was the last independent director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Feb 15
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: LK₨0.81 loss per share (up from LK₨1.22 loss in 3Q 2021). Net loss: LK₨105.4m (loss narrowed 33% from 3Q 2021). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Reported Earnings • Aug 15
First quarter 2022 earnings released: LK₨1.02 loss per share (vs LK₨1.69 loss in 1Q 2021) First quarter 2022 results: Net loss: LK₨132.2m (loss narrowed 40% from 1Q 2021). Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Reported Earnings • May 25
Full year 2021 earnings released: LK₨5.03 loss per share (vs LK₨5.04 loss in FY 2020) Full year 2021 results: Net loss: LK₨652.4m (flat on FY 2020). Over the last 3 years on average, earnings per share has fallen by 38% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Mar 02
New 90-day low: LK₨11.10 The company is down 19% from its price of LK₨13.70 on 02 December 2020. The Sri Lankan market is up 18% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Hospitality industry, which is down 2.0% over the same period. Reported Earnings • Feb 17
Third quarter 2021 earnings released: LK₨1.22 loss per share (vs LK₨0.83 loss in 3Q 2020) Third quarter 2021 results: Net loss: LK₨157.7m (loss widened 47% from 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Dec 01
New 90-day high: LK₨13.10 The company is up 36% from its price of LK₨9.60 on 02 September 2020. The Sri Lankan market is up 17% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Hospitality industry, which is up 10.0% over the same period. Reported Earnings • Nov 15
Second quarter 2021 earnings released: LK₨1.06 loss per share The company reported a soft second quarter result with weaker revenues and control over expenses, though losses reduced. Second quarter 2021 results: Revenue: LK₨28.3m (down 78% from 2Q 2020). Net loss: LK₨137.6m (loss narrowed 7.8% from 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings. 
