Sri Lanka, Feb. 27 -- Overseas Realty (Ceylon) PLC recorded a Group Revenue of Rs. 5,076 million and a Group Profit Before Tax of Rs. 4,311 million for the Year ended 31st December 2023.

The appreciation of LKR by 11.26 percent resulted in a significant exchange gain of Rs. 2,429 million on foreign currency loans.

The company revenue of Rs. 2,400 million at the World Trade Center, Colombo, was 14 percent higher than the corresponding period of last year, due mainly to higher rental rates. Revenue of Rs. 1,163 million was recorded from Residential Sales of Havelock City which was significantly lower than the corresponding periodin 2022.

Apartment sales slowed down due to depressed economic conditions, higher construction costs and new t...