Colombo, Sri Lanka – 31 August 2026 – Kerner Haus Global Solutions PLC (formerly Ceylon Printers PLC), a prominent player on the Colombo Stock Exchange, has released its Annual Report for the financial year ended 31 March 2026. The report details a period of profound transformation, showcasing significant financial improvements and rapid operational scaling as the company fully transitions into its new mandate as a provider of integrated business infrastructure for the Business Process Outsourcing (BPO), Knowledge Process Outsourcing (KPO), and international SME sectors.
The announcement, made on 28 August 2026, highlights the company’s strategic shift from an asset-light property management model to an asset-heavy ownership model, underpinned by a proposed Rights Issue of up to Rs. 420.1 million.
A Transformed Business Model Fuels Financial Recovery
The financial year 2025/26 marks the first full year of operations under Kerner Haus Global Solutions PLC’s new strategic direction, a radical departure from its six-decade legacy in commercial printing. This transformation, initiated in 2024-2025 under the majority ownership of Singapore-based Ekta Global Pte Ltd, has already yielded impressive results.
- Revenue Growth: The company reported a substantial 194% increase in revenue, reaching Rs. 6.19 million in FY2025/26, up from Rs. 2.11 million in the previous year (which stemmed from printing operations).
- Narrowed Operating Loss: The operating loss significantly narrowed by 40%, from Rs. 10.8 million to Rs. 6.5 million, indicating improved operational efficiency and traction in its new business model.
- Profit After Tax: Benefiting from a deferred tax income recognition of Rs. 10.8 million, the Group recorded a profit after tax of Rs. 3.74 million, a remarkable turnaround from the Rs. 11.17 million loss in the prior year.
- Strengthened Balance Sheet: Total assets surged by 1718% to Rs. 15.22 million, largely driven by an impressive 1,556% increase in cash and cash equivalents to Rs. 2.52 million. While the company still reports negative equity of Rs. 33.58 million, this represents a 10% improvement from the previous year, with the Rights Issue poised to rectify this.
Rapid Operational Scaling and Portfolio Expansion
Kerner Haus Global Solutions PLC has demonstrated rapid execution in building its portfolio of serviced office properties. Operating currently under an asset-light property management model, the company manages move-in-ready, technology-enabled workspaces in key Sri Lankan locations:
- Four Property Management Agreements: Within six months of commencing commercial operations in October 2025, the Group signed four Property Management Agreements (PMAs). These agreements cover properties in Colombo, Mount Lavinia, and Kandy.
- Growing Seat Capacity: The contracted portfolio now boasts an estimated 1,876 office seats. By 31 March 2026, 1,000 of these seats were operational, with approximately 580 seats already occupied.
- Key Occupancy Milestones: The Nawam Mawatha property in Colombo 02 achieved full occupancy within approximately two months of becoming operational. The larger Mount Lavinia property (700 seats) reached approximately 40% occupancy within four months.
- Future Expansion: Two additional properties at Kew Road, Colombo 02 (440 seats) and Katukale, Kandy (436 seats) were under construction at the year-end, with expected availability in October 2026 and January 2027, respectively.
The company’s core offering bundles fully serviced office space with an integrated ecosystem of business support services, including finance, legal, IT, HR, and digital marketing, enabling international occupiers to establish fully operational presences with a single counterparty.
Strategic Pivot to Asset Ownership via Rights Issue
A significant development after the reporting date is the Board’s resolution on 1 June 2026 to launch a Rights Issue. This will allow the company to raise up to Rs. 420.1 million by issuing 10,502,975 new ordinary voting shares at Rs. 40 per share, on a one-for-four basis.
This strategic move marks a crucial transition from merely managing properties to owning and developing them. The proceeds are earmarked to strengthen the balance sheet, rectify the net liability position, and fund the acquisition of strategic freehold and leasehold real estate assets. This shift is expected to allow Kerner Haus to capture the full economic value from its demonstrated demand, moving from a fee-based model to one that includes rental and asset value.
Leadership and Governance in a Period of Change
The company’s intense transformation placed an exceptional load on its governance framework. The report highlights the diligence of its eight-member Board of Directors, comprising five Independent Non-Executive Directors. Mr. Damitha Lakmal Jayawardana, who was instrumental in guiding the company’s finances as CFO through the transformation, was appointed Chief Executive Officer with effect from 1 April 2026.
The Board’s Related Party Transactions Review Committee played a critical role in rigorously examining all related party transactions, including the Rs. 10.0 million shareholder loan facility and the initial Property Management Agreements, ensuring compliance and transparency.
Further bolstering its market standing, Kerner Haus Global Solutions PLC’s shares underwent a 1:70 subdivision on 8 April 2026, increasing shares in issue to 42,011,900. Subsequently, on 15 April 2026, the company was transferred to the Main Board of the Colombo Stock Exchange, improving liquidity and index eligibility.
Outlook Aligned with National Ambition
Kerner Haus Global Solutions PLC operates in an environment of unprecedented macroeconomic stability in Sri Lanka, coupled with a growing global BPO market. The company’s model is directly aligned with Sri Lanka’s national ambition to establish itself as a regional outsourcing hub, attracting foreign exchange and creating skilled employment opportunities. While acknowledging post-year-end challenges such as rising interest rates and energy costs, the company emphasizes embedding energy efficiency and resilience into its acquisition criteria to mitigate these risks.
The coming year will focus on prudently deploying the Rights Issue proceeds, converting contracted capacity into recurring revenue, completing the executive team, and establishing robust operating metrics to track its progress as a leading integrated business infrastructure provider in Sri Lanka.
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