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Message: <blockquote data-quote="lkdood" data-source="post: 10252103" data-attributes="member: 92282">ODEL PLC, Sri Lanka’s only public quoted fashion retailer while  reporting increasing post-tax profits of Rs 208.9 million in 2010-11,  this week said it planned a final dividend of Rs 0.25 per share for the  year, taking the total dividend payout for the eight months since it was  listed, to Rs 72.4 million.The company said group pre-tax profit  recorded an 68 % increase to  Rs  354.2 million over 2009-10, on turnover of Rs 3.3 billion, which was  up 37 %. Net assets per share improved by 41.4 % to Rs 9.63 at company  level and by 36 % to Rs 11.2 at Group level. “Expansion justified by the post-conflict  resurgence of Sri Lanka’s economy, and a desire to enable a segment of  our followers to share in the evolution and growth of the ODEL brand  were the principal reasons for going public,” ODEL founder and CEO Otara  Gunewardene was quoted as saying in the statement. “We were greatly  encouraged by the investor response and have focused our energies on  building shareholder value and continuously improving our shopping  experience.” In January this year ODEL was conferred  membership of the prestigious Intercontinental Group of Department  Stores (IGDS), the largest association of department stores in the  world, making it the only IGDS member in Sri Lanka. This membership  places ODEL in the company of some of the leading and most prominent  department stores in the world including Selfridges, Saks 5th Avenue,  Printemps, Parkson, Beco, FEDS, Shopper’s Stop, M&S and Woolworths.Meanwhile the fashion store opened its first  store in Kandy on May 20 with hundreds of enthusiastic Kandy folk  treated to a gala fashion show at the ‘roof top’ terrace of the mall  where the store is located, the company said. Located on Level 3 of the  popular mall, the store of 4,200 square feet was filled to capacity in  seconds after CEO Ms Gunewardene and Thusitha Wijayasena, the owner of  Kandy City Centre, cut the ceremonial ribbon to formally open the store.  Seen here is a model at the fashion show.ODEL value now Rs. 6.1 billionShare price Rs. 42</blockquote>

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