Unity Plaza reports profits amidst lower occupancy
On’ally Holdings Ltd, the holding company of the Unity Plaza complex made a profit of Rs. 24.72 million in 2006/07, lower than Rs. 25.20 million the previous year, due to lower average occupancies, the company report said
The average occupancy based on floor area was 90.97% as at March 31, 2007 as compared to 95.57% as at March 31, 2006. The company’s profit was excluding the gain on revaluation of investment properties of Rs. 117.84 million.
Revision of rentals of the existing tenants and maintaining moderate rate of occupancy during the year contributed to the company’s turnover increasing from Rs. 51.35 million to Rs.55.44 million during the same period.
The directors proposed a final dividend of eight percent in the previous year, whilst an interim dividend of percent was paid on December 14, 2006 making a total dividend for the year at 16 percent, the report added. |