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Sri Lanka Equity Forum » Stock Market Talk » Overseas Realty Q1 Group profit increases

Overseas Realty Q1 Group profit increases

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1Overseas Realty Q1 Group profit increases  Empty Overseas Realty Q1 Group profit increases on Wed May 07, 2014 6:50 am

Jayashantha

Jayashantha
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Overseas Realty Q1 Group consolidated revenue for the first quarter rose by 89% Year on Year to Rs. 1,710 mn with rental income rising by 23% to Rs. 423 mn, sale of apartments rising by 130% to Rs. 1.250 mn and other services rising by 98% to Rs. 30 mn. However, gross profit margin dropped as a result of the change in Revenue mix. Tighter control of overhead costs helped boost profit after tax (PAT) to Rs. 793 mn which is an increase of 46%.

At the company level, revenue from rentals rose by 23% to Rs. 423 mn due to higher occupancy and average rentals, with other services contributing Rs. 23 mn an increase of 34% resulting in a total revenue of Rs. 447 mn. Maintaining direct expenses in check at Rs 106 mn allowed the Gross Margin to rise to 76%.

The PAT at company level rose to Rs. 607 mn, a rise of 26% for the quarter. The overhead costs were lower than the previous year's quarter whilst finances were better managed to record a net finance income of Rs. 64 mn.

- See more at: http://www.dailynews.lk/?q=business/overseas-realty-q1-group-profit-increases#sthash.jWpZuZTu.dpuf

Octopus

Octopus
Expert
Expert
I hope it will go to 30 soon and then 40.

Pethi

Pethi
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Promotion and marketing.... this share is good but
I do not think it will jump on to 30 and then 40 soon.

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