Convenience Foods Lanka : SOY-Interim Financial Statements as at 31-12-2022

CONVENIENCE FOODS

(LANKA) PLC

INTERIM REPORT

FOR THE 3RD QUARTER ENDED,

31ST DECEMBER 2022

Interim Report | Convenience Foods (Lanka) PLC

CORPORATE INFORMATION

NAME OF THE COMPANY		SECRETARIES & REGISTRARS
Convenience Foods (Lanka) PLC - PQ 164	P W Corporate Secretarial (Pvt) Ltd.
		No.3/17, Kynsey Road,
		Colombo 08.
LEGAL FORM & LISTING
A Public Limited Company listed on the
Colombo Stock Exchange.		BANKERS
		Bank of Ceylon
		Commercial Bank of Ceylon PLC
DATE OF INCORPORATION	DFCC Bank PLC
27th March 1991		Hatton National Bank PLC
		Nation Trust Bank
		National Development Bank PLC
REGISTERED OFFICE		Peoples Bank
Ceylon Biscuits Ltd,		Sampath Bank PLC
No. 555, High Level Road,		Standard Chartered Bank
Makumbura, Pannipitiya,		State Bank of India
Sri Lanka.
BUSINESS ACTIVITY
Manufacture and Marketing of Textured Vegetable
Protein (TVP), Culinary and other Food Products.
DIRECTORS OF THE COMPANY
Mr. R.S. Wickramasingha	- Chairman
Mr. E.T. De Zoysa - Managing Director
Ms. D.S. Wickramasingha	- Director
Ms. N.K. Wickramasingha	- Director

Mr. L.J.M. De Silva - Director

Mr. M.U.S.G. Thilakawardana - Director

Dr. D.M.A. Kulasooriya - Director

Mr. M.S. Nanayakkara - Director

AUDITORS

KPMG Sri Lanka

Chartered Accountants,

32A, Sir Mohomad Macan Markar Mawatha,

Colombo 3, Sri Lanka.

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Interim Report | Convenience Foods (Lanka) PLC

CONVENIENCE FOODS (LANKA) PLC

STATEMENT OF COMPREHENSIVE INCOME

FOR THE PERIOD ENDED 31ST DECEMBER 2022

	Company
For the 09 Months Ended 31st December	2022	2021	Variance
	Rs.	Rs.	%
Continuing Operations
Revenue	6,245,256,937	3,360,924,220	85.8%
Cost of Sales	(4,712,588,501)	(2,525,714,247)	86.6%
Gross Profit	1,532,668,435	835,209,973	83.5%
Other Operating Income	33,385,686	16,548,033	101.8%
Distribution Expenses	(578,630,680)	(386,977,991)	49.5%
Administrative Expenses	(198,845,629)	(139,527,935)	42.5%
Results from Operating Activities	788,577,811	325,252,080	142.5%
Finance Income	20,206,506	31,733,600	-36.3%
Finance Expenses	(180,180,678)	(4,978,536)	3519.2%
Net Finance Income	(159,974,172)	26,755,064	-697.9%
Profit Before Tax	628,603,639	352,007,144	78.6%
Income Tax Expenses	(143,037,366)	(67,812,772)	110.9%
Profit for the Period	485,566,273	284,194,373	70.9%
Other Comprehensive Income
Items that will not be reclassified to profit or loss:
Re-measurement component of defined benefit plan	-	-	-
Other Comprehensive Income for the Period	-	-	-
Total Comprehensive Income for the Period	485,566,273	284,194,373	70.9%
Basic and Diluted Earnings Per Share	176.57	103.34

Figures in brackets indicate deductions.

The above figures are not audited.

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Interim Report | Convenience Foods (Lanka) PLC

CONVENIENCE FOODS (LANKA) PLC

STATEMENT OF COMPREHENSIVE INCOME

FOR THE PERIOD ENDED 31ST DECEMBER 2022

	Company
For the 03 Months Ended 31st December	2022	2021	Variance
	Rs.	Rs.	%
Continuing Operations
Revenue	2,378,137,012	1,324,223,773	79.6%
Cost of Sales	(1,788,129,715)	(1,021,114,568)	75.1%
Gross Profit	590,007,296	303,109,205	94.7%
Other Operating Income	15,163,668	5,456,836	177.9%
			-
Distribution Expenses	(240,965,034)	(142,948,183)	68.6%
Administrative Expenses	(71,140,666)	(55,332,577)	28.6%
Results from Operating Activities	293,065,263	110,285,282	165.7%
Finance Income	5,044,083	9,334,493	-46.0%
Finance Expenses	(95,280,963)	(1,968,458)	4740.4%
Net Finance Income	(90,236,880)	7,366,036	-1325.0%
Profit Before Tax	202,828,383	117,651,317	72.4%
Income Tax Expenses	(65,057,648)	(23,765,574)	173.7%
Profit for the Period	137,770,735	93,885,743	46.7%
Other Comprehensive Income
Items that will not be reclassified to profit or loss:
Re-measurement component of defined benefit plan	-	-	-
Other Comprehensive Income for the Period	-	-	-
Total Comprehensive Income for the Period	137,770,735	93,885,743	46.7%
Basic and Diluted Earnings Per Share	50.10	34.14

Figures in brackets indicate deductions.

The above figures are not audited.

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