Business Times

On'ally Holdings PLC profits up

On'ally Holdings PLC which owns Unity Plaza made a profit of Rs.37.16 million after tax for the year ended 31 March 2011 compared to Rs.34.61 million for the corresponding period in 2010. According to the Annual Report, turnover for the period under review was Rs.82.48. million compared to a turnover of Rs.75.57 million the previous year. However, operating income for the year ended 31 March 2011 also increased to Rs.50.54 million when compared to Rs.43.85 million in 2010, the report said.

The company said operating expenses increased to Rs.45.27 million in 2011 from Rs.44.62 million last year. Operating profit also increased to Rs.50.52 million for the period under review from Rs.43.84 million in 2010.

Chairman of the company Janka Kurukulasuriya said rentals of existing tenants were revised and the company maintained a higher rate of occupancy during the year, contributing to the higher turnover. The average occupancy based on floor area was 100 % as at 31 March 2011 compared to 97.35% as at 31 March 2010.

Mr. Kurukulasuriya said Unity Plaza continues to be the focus of the thriving information technology industry with the majority of its occupants being computer related companies. It also catered to the state sector with government departments occupying more than two floors of the building during the year.

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