Sri Lanka’s RIL Property reports full occupancy, expands bakery chain

ECONOMYNEXT – RIL Property Limited (RIL), a developer, owner and operator of commercial office space in the Sri Lankan capital Colombo, said net profit rose 37 percent to 78 million rupees in the June 2017 quarter from a year ago.

Sales rose 14 percent to 248 million rupees in the quarter, according to interim results filed with the stock exchange.
Earnings per share were 13 cents. The share last traded at 7.80 rupees on Friday.

RIL Property Chairman Sunil Wijesinha said Parkland, its 22-floor office complex in the heart of Colombo, reached 100 percent occupancy during the quarter and the firm had begun refurbishing the Readywear building in the same location.

The company was expanding its outlets of Bread Talk, a Singaporean food chain, with two outlets opened in the Maharagama and Mount Lavinia suburbs becoming fully operational during the quarter.
(COLOMBO, August 18, 2017)

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