Unity Plaza continued to be the focus of the thriving information technology industry in the country with majority of its occupants being computer related companies.
On’ally Chairman Mr. P.A.I.S. Perera, Chairman of the Urban Development Authority (UDA), noted that various state sector institutions continued to be Unity Plaza tenants 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 continued profitability and thus enabling an attractive return to our shareholders," he said.
Perera noted that the company had earned a profit before-tax of Rs.63.7 million, excluding a gain on revaluation investment properties of Rs.100.6 million. This was an 11.34% increase from the previous year.
Turnover was up 7.55% to Rs.88.7 million during the year under review with profit after-tax, including fair value gain on investment property, running at Rs.156.8 million against Rs.84.4 million a year earlier.
Earnings per share exclusive of fair value gain stood at Rs.3.22 up from Rs.2.12 the previous year and the company has declared a final dividend of Rs.1.45 per share on top of an interim Re.1 per share giving shareholders Rs.2.45 per share which was the same as the previous year.
The UDA is the biggest shareholder of the company with 47.6% of its equity followed by Ceylon and Foreign Trades with 24% and Mr. Onally Gulamhusein, who pioneered the company and on whose property Unity Plaza has been built, owning 12.25%.
The company has a stated capital of Rs.175 million, up from Rs.140 million the previous year as a result of the capitalization of reserves by the issue of 3.5 million bonus shares in the proportion of one for four in September last year.
Total assets of the company ran at Rs.1.2 billion and total liabilities at Rs.63.4 million.
The directors of the company are: Messrs. P.A.I.S. Perera (Chairman), Onally Gulamhusein (MD), Dr. S.A. Gulamhusein, Mrs. Tharsini Sarveshwaran (Deputy MD), B.V. Selvanayagam, G.T. Fazleabas, Lakshman Hulugalle, Dr. D.C. Gunesekera, A.Y. Tyebkhan (Alternate to Dr. D.C. Gunesekera, W.L.D.P.V. Jayawardene and K.E.V.N. Fernando.