Overseas Realty Ceylon PLC’s income reached Rs.503 million in March 2017, which is a 6% increase. The direct operating expenses too saw similar improvements of 6% amounting up to Rs. 571 million. The company financial statements suggests that the profit rose to Rs.881 million thus increasing by 21% YoY.
The company being the owners of the Echelon Towers building in Colombo, their profits were boosted by a forex gain of Rs. 139 million which is a significant increase from last year. Reports states that of the profits, Rs 316 million were from fair value gains. The firm also reported Rs 315 million of fair value gains last year.
The firm states that there will be 46 cents per share without fair value gains and 72 cents with fair value gains. (VW)
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