Unity Plaza complex says current economic climate ‘challenging’
View(s):Ona’lly Holdings PLC, owners of the Unity Plaza IT complex building in Bambalapitiya, has reported a pre-tax profit of Rs. 71.6 million for the year ending 31st March 2012, up 13.64 per cent from the earlier year.
Company Chairman Sirinimal Perera, also chairman of the Urban Development Authority (UDA), in his report for the last financial year said that the focus of Unity Plaza continues to be on the thriving information technology industry with the majority of its occupants being computer-related companies. It is also catering to the state sector with Government departments occupying two floors of the building during the year under review.
“Despite the challenges posed by the current economic climate we look forward with caution, to continue profitability and thus enabling an attractive return to shareholders,” he said. Turnover of the company grew by 10.88 per cent to Rs. 98.35 million against Rs.88.70 million in 2011/2012.
“Revisions of rentals of existing tenants and maintaining higher occupancy rate during the financial year, increased interest rates or investments were the major reasons for increase in turnover and the profitability,” Mr. Perera said in his review. The main shareholders of the company are UDA (47.6 per cent), PABC Bank/Ceylon & Foreign Trades (15.9 per cent), Ona’lly Ghulamhusein (12.2 per cent) and PABC/Ceylon & Foreign Trades (8 per cent).
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