PAINTING TOMORROW'S SUCCESS
COLOMBO LAND AND DEVELOPMENT COMPANY PLC ANNUAL REPORT 2023
PAINTING TOMORROW'S | |
SUCCESS | being of the landscape we operate in. After all, success is not |
We try to journey into spaces that encompass the overall well- | |
Our deliberate and visionary processes allow us to navigate | only measured in square footage, but in the partnerships that |
even the harshest of conditions and that is why we end this | we support. Our commitment to painting tomorrow's success |
year stronger, revitalised to excel in the coming year. Our | begins with an unwavering dedication to innovation and design |
journey to transcending the ordinary will always be woven | excellence. |
into the very essence of our communities. |
CONTENT
OVERVIEW | ||||
08 | 09 | 10 | 14 | 17 |
Operational | Financial | Chairman's | CEO's Review | Board of |
Highlights | Highlights | Review | Directors |
10 | 14 |
CHAIRMAN'S | CEO'S REVIEW |
REVIEW | |
MANAGEMENT DISCUSSION & ANALYSIS
22 | 24 | 26 | 28 | 30 |
Our Value | Our Business | Stakeholder | Management Discussion | Management of |
Creation Model | Model | Engagement | & Analysis | Capital |
2 Colombo Land and Development Company PLC | Annual Report 2023
GOVERNANCE | |||
44 | 59 | 61 | 62 |
Corporate Governance | Report of the Board | Report of | Report of the Board |
Report | Audit Committee | the Board | Related Party |
Remuneration | Transaction Review | ||
Committee | Committee |
63 | 67 | 68 | 69 |
Annual Report of the | Statement | Chairman & | Risk Management |
Board of Directors | of Directors' | Accountant | Report |
on the Affairs of the | Responsibilities | Responsibility | |
Company | Statement | ||
FINANCIAL STATEMENTS | |||
74 | 75 | 78 | 80 |
Financial | Independent | Statement | Statement of Profit |
Calendar | Auditors' | of Financial | or Loss |
Report | Position |
82 | 84 | 86 |
Statement of | Statement of | Notes to the |
Changes in | Cash Flows | Financial Statements |
Equity |
SUPPLEMENTARY INFORMATION
126 | 127 | 129 | 130 | 131 |
Decade at a | Investor | Glossary of | Notice of | Form of Proxy |
Glance | Information | Financial Terms | Meeting |
Colombo Land and Development Company PLC | Annual Report 2023 | 3 |
ABOUT US
Incorporated as a limited company on 8th December 1981 and listed on the Colombo Stock Exchange on 19th March 1986, Colombo Land and Development Company (CLDC) PLC is a pioneer in mixed development projects in the real estate and retail industry in Sri Lanka. Its principal activities are the development and leasing out of investment property under operating leases at Liberty Plaza consisting of retail, office and apartments, Food court; leading advertising spaces; and renting of vehicle car parks at both Liberty Plaza and Pettah locations. The Group also holds commercial space unmatched in terms of strategic location and land extent in the Central Business District of Pettah, which has been earmarked for ambitious development. Reflecting
its commitment to sustainable development through investments in environment-friendly sectors, its fully- owned subsidiary, Agri Spice (Pvt) Ltd., operates a 102-acre Mahogany, Rubber and Alstoniya plantation at Avissawella.
4 Colombo Land and Development Company PLC | Annual Report 2023
VISION
"TO BE RECOGNIZED AS A PIONEERING REAL ESTATE DEVELOPMENT AND INVESTMENT PROPERTY LEASING COMPANY THAT BENCHMARKS WORLD-CLASS REAL ESTATE CONCEPTS IN BUILDING SUSTAINABLE LANDSCAPES AND COMMUNITIES, THEREBY CREATING GREATER VALUE FOR OUR STAKEHOLDERS."
VALUES
- Futuristic: We look beyond the present to deliver future value.
- Superior: We aim to exceed expectations in delivering superior quality, value and service.
- Knowledgeable: We strive to understand our markets and our customers' needs.
- Connected: Relationships mean everything to us; we connect and maintain a good rapport with all our stakeholders.
- Passionate: We love what we do. We believe in working with "all heart".
- Integrity: We conduct ourselves in the highest ethical standards, demonstrating honesty and sincerity.
- Conscious: We respect our social and physical environment around us.
Colombo Land and Development Company PLC | Annual Report 2023 | 5 |
OVERVIEW
08 | 09 | 10 | 14 | 17 |
Operational | Financial | Chairman's | CEO's Review | Board of |
Highlights | Highlights | Review | Directors |
OPERATIONAL HIGHLIGHTS
TURNOVER
Rs.Mn.
500
400 | |||||
300 | |||||
200 | |||||
100 | |||||
0 | 2019 | 2020 | 2021 | 2022 | 2023 |
GROSS PROFIT
Rs.Mn.
400
300
200
100
0 | 2019 | 2020 | 2021 | 2022 | 2023 |
INCOME | |||
Rs.Mn. | |||
400 | |||
350 | |||
300 | |||
250 | |||
200 | |||
150 | |||
100 | |||
50 | |||
0 | 2021 | 2020 | 2021 |
Rent | Advertising |
2022 2023
Car Parks
REVENUE CONTRIBUTION
31% | 36% | Liberty Plaza |
NRP | ||
Food Court | |
Advertising | |
2% | Car Parks |
3% | |
28% |
377 | 220 |
REVENUE (Rs.Mn) | GROSS PROFIT (Rs.Mn) |
321 | 13,817 |
PAT (Rs.Mn) | TOTAL ASSETS (Rs.Mn) |
1.61 | 8,314 |
EPS (Rs.) | |
EQUITY (Rs.Mn) |
8 Colombo Land and Development Company PLC | Annual Report 2023
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Colombo Land and Development Company plc published this content on 03 June 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 June 2024 03:31:00 UTC.