BROWNS BEACH HOTELS PLC Browns Beach Hotels PLC
Interim Financial Statement - 1st Quarter
(For the quarter ended 30th June 2022)
Income Statement
Browns Beach Hotels PLC
Group | Company | |||
For the three months ended 30th June | 2022 | 2021 | 2022 | 2021 |
Rs. '000 | Rs. '000 | Rs. '000 | Rs. '000 | |
Revenue | 150,788 | 45,088 | - | - |
Revenue tax | - | - | - | - |
Net revenue | 150,788 | 45,088 | - | - |
Other income | 104,880 | 38 | 3,806 | 3,806 |
Staff cost | (33,366) | (27,178) | - | - |
Depreciation | (54,285) | (55,018) | - | - |
Amortisation | (77) | (78) | (77) | (78) |
Other operating expenses - direct | (28,661) | (6,284) | - | - |
Other operating expenses - Indirect | (67,377) | (32,201) | (726) | (514) |
Profit/(loss) from operations | 71,902 | (75,633) | 3,003 | 3,214 |
Finance income | 3,049 | 3,295 | - | - |
Finance expenses | (88,493) | (58,704) | (604) | (625) |
Net finance expense | (85,444) | (55,409) | (604) | (625) |
Profit / (loss) before taxation | (13,542) | (131,042) | 2,399 | 2,589 |
Income tax expense | (12,741) | (1,175) | - | (548) |
Profit / (loss) for the period | (26,283) | (132,217) | 2,399 | 2,041 |
Attributable to: | ||||
Equity holders of the parent company | (26,283) | (132,217) | 2,399 | 2,041 |
Non-controlling interest | - | - | - | - |
(26,283) | (132,217) | 2,399 | 2,041 | |
Earnings/(loss) per share for the period ( Rs.) | (0.20) | (1.02) | 0.02 | 0.02 |
(Basic / diluted) |
The above figures are provisional and subject to audit.
1
Statement of Profit or Loss and other Comprehensive Income - Group
Browns Beach Hotels PLC
For the three months ended 30th June | 2022 | 2021 |
Rs. '000 | Rs. '000 | |
Loss for the period | (26,283) | (132,217) |
Other comprehensive income | - | - |
Net change in fair value of FVOCI financial assets | - | - |
Actuarial gains/(losses) on defined benefit obligations | - | - |
Total comprehensive income for the period | (26,283) | (132,217) |
Attributable to: | ||
Equity holders of the parent company | (26,283) | (132,217) |
Non -controlling interests | - | - |
(26,283) | (132,217) | |
Statement of Profit or Loss and other Comprehensive
Income - Company
For the three months ended 30th June | 2022 | 2021 |
Rs. '000 | Rs. '000 | |
Profit for the period | 2,399 | 2,041 |
Other comprehensive income | - | - |
Net change in fair value of FVOCI financial assets | - | - |
Total comprehensive income for the period | 2,399 | 2,041 |
The above figures are provisional and subject to audit.
2
Consolidated Statement of Financial Position
Browns Beach Hotels PLC
As at | 30.06.2022 | 30.06.2021 | 31.03.2022 |
Rs. '000 | Rs. '000 | Rs. '000 | |
Adjusted | Adjusted | ||
ASSETS | |||
Non-current assets | |||
Property, plant and equipment | 4,948,101 | 5,160,719 | 5,002,386 |
Right of use asset | 2,372 | 2,681 | 2,447 |
4,950,473 | 5,163,400 | 5,004,833 | |
Current assets | |||
Inventories | 34,812 | 14,870 | 23,259 |
Trade and other receivables | 108,806 | 27,516 | 47,685 |
Deposits and prepayments | 31,359 | 18,395 | 18,533 |
Amount due from related parties | 6,900 | 2,079 | 18,280 |
Cash and cash equivalent | 277,226 | 190,437 | 290,153 |
459,103 | 253,297 | 397,910 | |
TOTAL ASSETS | 5,409,576 | 5,416,697 | 5,402,743 |
EQUITY AND LIABILITIES | |||
Equity attributable to equity holders of the parent | |||
Stated capital | 2,383,449 | 2,383,449 | 2,383,449 |
Revaluation reserve | 1,074,307 | 1,074,307 | 1,074,307 |
General reserve | 10,000 | 10,000 | 10,000 |
Retained earnings | (2,644,285) | (2,307,336) | (2,618,002) |
823,471 | 1,160,420 | 849,754 | |
Non controlling interest | - | - | - |
Total Equity | 823,471 | 1,160,420 | 849,754 |
Non-current liabilities | |||
Interest bearing liabilities-loan | 2,163,108 | 3,224,273 | 1,763,824 |
Interest bearing liabilities-leases | 16,044 | 19,022 | 16,044 |
Deferred tax liability | 250,497 | 224,849 | 261,670 |
Employee benefits | 9,132 | 10,538 | 8,422 |
2,438,781 | 3,478,682 | 2,049,960 | |
Current liabilities | |||
Trade and other payables | 124,853 | 78,813 | 115,157 |
Amount due to related companies | 88,266 | 79,705 | 85,276 |
Interest bearing liabilities-loan | 1,723,609 | 404,001 | 2,036,200 |
Interest bearing liabilities-leases | 4,291 | 2,548 | 4,863 |
Income tax payable | 7,190 | 4,771 | 7,713 |
Short term bank borrowings | 199,115 | 207,757 | 253,820 |
2,147,324 | 777,595 | 2,503,029 | |
Total liabilities | 4,586,105 | 4,256,277 | 4,552,989 |
TOTAL EQUITY AND LIABILITIES | 5,409,576 | 5,416,697 | 5,402,743 |
Net asset value per share (Rs.) | 6.35 | 8.95 | 6.56 |
The above figures are provisional and subject to audit.
The chief financial officer certifies that the financial statements have been prepared in compliance with the requirements of the Companies Act No 07 of 2007.
The Board of Directors is responsible for the preparation of these financial statements.
sgd.
L. D. T. Perera
General Manager - Finance
sgd. | sgd. |
Deshamanya D. H. S. Jayawardena | Dr. M.P. Dissanayake |
Chairman | Director |
Colombo | |
10th August 2022 |
3
Company Statement of Financial Position
Browns Beach Hotels PLC
As at | 30.06.2022 | 30.06.2021 | 31.03.2022 |
Rs. '000 | Rs. '000 | Rs. '000 | |
Adjusted | Adjusted | ||
ASSETS | |||
Non-current assets | |||
Property, plant and equipment | - | - | - |
Investment in subsidiaries | 2,700,000 | 2,700,000 | 2,700,000 |
Investment property | 1,100,000 | 1,100,000 | 1,100,000 |
Right of use asset | 2,372 | 2,681 | 2,447 |
3,802,372 | 3,802,681 | 3,802,447 | |
Current assets | |||
Other receivables | 114,294 | 101,571 | 110,549 |
Deposits and prepayments | 288 | 34 | 324 |
Amount due from related parties | 10,068 | 14,568 | 11,068 |
Cash and cash equivalent | 96 | 644 | 455 |
124,746 | 116,817 | 122,396 | |
TOTAL ASSETS | 3,927,118 | 3,919,498 | 3,924,843 |
EQUITY AND LIABILITIES | |||
Equity attributable to equity holders of the parent | |||
Stated capital | 2,383,449 | 2,383,449 | 2,383,449 |
Revaluation reserve | 840,807 | 840,807 | 840,807 |
General reserve | 10,000 | 10,000 | 10,000 |
Retained earnings | 658,698 | 650,498 | 656,299 |
Total equity | 3,892,954 | 3,884,754 | 3,890,555 |
Non-current liabilities | |||
Interest bearing liabilities-leases | 16,044 | 19,022 | 16,044 |
Deferred tax liability | 10,000 | 10,000 | 10,000 |
Employee benefits | - | - | - |
26,044 | 29,022 | 26,044 | |
Current liabilities | |||
Other payables | 1,287 | 2,083 | 2,038 |
Amount due to related parties | 645 | 604 | 516 |
Interest bearing liabilities-leases | 4,291 | 2,548 | 4,863 |
Income tax payable | 1,859 | 487 | 827 |
Short Term Bank Borrowings | 38 | - | - |
8,120 | 5,722 | 8,244 | |
Total liabilities | 34,164 | 34,744 | 34,288 |
TOTAL EQUITY AND LIABILITIES | 3,927,118 | 3,919,498 | 3,924,843 |
Net asset value per share (Rs.) | 30.04 | 29.97 | 30.02 |
The above figures are provisional and subject to audit.
The chief financial officer certifies that the financial statements have been prepared in compliance with the requirements of the Companies Act No 07 of 2007.
The Board of Directors is responsible for the preparation of these financial statements.
sgd.
L. D. T. Perera
General Manager - Finance
sgd. | sgd. |
Deshamanya D. H. S. Jayawardena | Dr. M.P. Dissanayake |
Chairman | Director |
Colombo | |
10th August 2022 |
4
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Browns Beach Hotels plc published this content on 12 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 August 2022 09:39:05 UTC.
