Colombo, Sri Lanka – 31 August 2026
Cargo Boat Development Company PLC (CBD) has announced the release of its Annual Report for the financial year ended 31st March 2026, filed with the Colombo Stock Exchange (CSE) today. The report showcases a robust financial performance, driven by consistent rental income from its prime commercial property and significant gains from its diversified investment portfolio.
Financial Highlights: A Year of Sustained Growth
The company reported a notable increase in its financial indicators for the year. Revenue saw a moderate increase of approximately Rs. 10 million, reaching Rs. 142.88 million for FY 2025/26, up from Rs. 132.80 million in the previous year. While operational profit experienced a slight dip to approximately Rs. 20 million from Rs. 25 million, the overall profit before tax surged to Rs. 281.83 million. This significant jump was primarily attributed to substantial interest and other income, contributing Rs. 260 million.
Further demonstrating its strong position, CBD recorded a total comprehensive income of Rs. 1,502.24 million for the year, a considerable increase from Rs. 1,249.05 million in the prior year. Basic earnings per share (EPS) also climbed to Rs. 15.06, compared to Rs. 11.41 in FY 2024/25. In recognition of this performance, the Directors have recommended a final dividend of Rs. 1.50 per share for the year ended 31st March 2026, subject to shareholder approval.
Operational Success: The CBD Business Centre
Cargo Boat Development Company PLC’s principal activity continues to be the renting out of premises, primarily through its strategically located CBD Business Centre. Situated at 41 Janadhipathi Mawatha, Colombo 01, in the heart of the central business district, the 11-storey building offers 54,400 sq.ft. of modern office space with state-of-the-art amenities. Its prime Fort address, opposite the Central Bank and within walking distance of the World Trade Center, coupled with dual access from Hospital Street and Janadhipathi Mawatha, makes it a highly attractive commercial hub.
The report highlights the CBD Business Centre’s success in maintaining full tenancy throughout 2025/2026, securing a diverse mix of foreign, local, and government tenants. The moderate increase in revenue is largely due to increased rent per square foot on the renewal of leases during the year, underscoring the demand for its contemporary office solutions at competitive rates.
Strategic Investment Portfolio Bolsters Performance
Beyond its core rental operations, CBD maintains a robust investment portfolio in outside listed entities. As at year-end, the market value of these investments stood at an impressive Rs. 4,733 million, generating a substantial investment income of Rs. 215 million during the financial year 2025/2026. The portfolio includes significant holdings in key sectors such as Banking, Finance & Insurance (Commercial Bank of Ceylon PLC, DFCC Bank PLC, National Development Bank PLC), Manufacturing (Chevron Lubricants Lanka PLC, Tokyo Cement Company PLC), and Diversified holdings (Hayleys PLC, John Keells Holdings PLC), among others, reflecting a strategic approach to capital appreciation.
Corporate Governance and Board Dynamics
The Annual Report reaffirms CBD’s commitment to strong corporate governance, noting full compliance with Section 9 of the CSE Rules on Corporate Governance. The Board of Directors, comprising experienced professionals, continues to oversee the company’s strategic direction and operations.
Key board re-appointments are on the agenda for the upcoming Annual General Meeting (AGM). Chairman Mr. R. B. Thambiayah, Executive Deputy Chairman Ms. N. A. Thambiayah, and Non-Independent Non-Executive Director Mr. R. S. Tissanayagam, all over 70 years of age, will seek re-appointment through special ordinary resolutions in compliance with Sections 210 and 211 of the Companies Act No. 7 of 2007. Additionally, Mr. D. C. Fernando, an Independent Non-Executive Director, will seek re-election upon his retirement by rotation. The company also intends to re-appoint M/s BDO Partners, Chartered Accountants, as its auditors.
The Board also features Mr. D. T. S. H. Mudalige as the Senior Independent Director and Mr. S. A. R. S. Karunanayake as an Independent Non-Executive Director, ensuring robust oversight and adherence to best practices.
Shareholder Engagement and Outlook
As at 31st March 2026, the public holding of Cargo Boat Development Company PLC stood at 38.66%, represented by 972 shareholders, with a float-adjusted market capitalization of Rs. 1,533.66 million. Significant institutional shareholders include Renuka Properties Limited (22.81%), Lancaster Holdings Limited (22.67%), Sampath Bank PLC/Senthilverl Holdings (Pvt) Ltd (19.86%), and Renuka Consultants & Services Limited (15.39%). The company’s share price saw a high of Rs. 245.00 and a low of Rs. 75.00 during the period, closing at Rs. 220.00 as at 31st March 2026.
The 46th Annual General Meeting is scheduled to be held virtually on 22 September 2026 at 11:00 AM, where shareholders will consider and adopt the audited accounts, declare a dividend, and address the aforementioned director and auditor re-appointments.
With its consistent performance in the commercial real estate sector and a strategically managed investment portfolio, Cargo Boat Development Company PLC appears well-positioned for continued stability and growth in the upcoming financial year.
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