Galle Face Capital Partners : Interim Financial Statements 31.12.2022

GALLE FACE CAPITAL PARTNERS PLC

INTERIM FINANCIAL STATEMENTS - FOR THE PERIOD ENDED

31ST DECEMBER 2022

CONTENT:

Statement of Profit or Loss and Other Comprehensive Income -1

Statement of Financial Position -2

Statement of Changes in Equity -3

Statement of Cash Flows -4

Notes to the Financial Statements -5-6

Top 20 Major Shareholders -7

Corporate Information -8

GALLE FACE CAPITAL PARTNERS PLC
STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
FOR THE PERIOD ENDED 31ST DECEMBER
	Rs.'000	Rs.'000
	QUARTER ENDED	PERIOD ENDED
	31.12.2022	31.12.2021	31.12.2022	31.12.2021
	UNAUDITED	UNAUDITED	UNAUDITED	UNAUDITED
Revenue	1,231	2,003	32,067	2,003
Administrative and other Operating Expenses	(253)	(564)	(2,181)	(274)
Profit/(Loss) on Fair Value of Investments Measured at Fair Value T hrough Profit or Loss	(29,305)	13,770	32,444	13,770
Profit from Operation	(28,327)	15,209	62,330	15,499
Finance Income	29,878	5,425	57,486	17,763
Finance Cost	(5)	(2)	(8)	(2)
Profit before Taxation	1,546	20,632	119,808	33,260
T axation	(6,600)	(1,234)	(13,080)	(4,265)
Profit for the Period	(5,054)	19,398	106,728	28,995
Other Comprehensive Income	-	-	-	-
Total Comprehensive Income for the Period	(5,054)	19,398	106,728	28,995
Earnings Per Share (Rs.)	(0.20)	0.75	4.13	1.12
Dividend Per Share (Rs.)	-	-	-	-

1. The above figures are provisional and subject to audit.
2. Figures in brackets indicate deductions.

Page 1 of 9

INTERIM FINANCIAL STATEMENTS

GALLE FACE CAPITAL PARTNERS PLC

STATEMENT OF FINANCIAL POSITION

AS AT	31.12.2022	31.03.2022
		Rs.'000	Rs.'000
		UNAUDITED	AUDITED
Assets
Non Current Assets
Investments - Measured at Fair Value T hrough Profit or Loss	373,283	337,221
Investment -T B	373,282	-
Total Non Current Assets	746,565	337,221
Current Assets
Assets held for sale	-	143,829
T rade & Other Receivables	1,013	26,402
Cash and Cash Equivalents	74,036	194,925
Total Current Assets	75,049	365,156
Total Assets	821,614	702,377
Equity and Liabilities
Equity
Stated Capital	513,656	513,656
Revenue Reserves	293,520	186,792
Total Equity	807,176	700,448
Current Liabilities
Other payables	333	609
Income T ax Payable	13,055	1,282
Bank Overdraft	-	38
Total Current Liabilities		13,387	1,929
Total Equity & Liabilities	820,563	702,377
Net Assets per share (Rs.)	31.24	30.38

T he Above figures are provisional and subject to audit.

I certify that the Interim Financial Statements have been prepared in compliance with the requirements of the Companies Act No.7 of 2007.

Sgd.

Dilshan Perera

Chief Financial Officer

T he Board of Directors is responsible for the preparation and presentation of these Financial Statements.

T hese Financial Statements were approved and signed for and on behalf of the Board of Directors of Galle Face Capital Partners PLC.

Sgd.	Sgd.
S. V. Rajiyah	B.V.Selvanayagam
Director	Director
03rd February 2023

1. The above figures are provisional and subject to audit.
2. Figures in brackets indicate deductions.

Page 2 of 9

INTERIM FINANCIAL STATEMENTS

	GALLE FACE CAPITAL PARTNERS PLC
	STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31ST DECEMBER	Stated	General	Revenue Reserves	Total
	Capital	reserve	Retained Earnings
	Rs.'000	Rs.'000	Rs.'000	Rs.'000
Balance as at 1st April 2021	513,656	619	270,551	784,826
Profit for the period	-	-	28,995	28,995
Balance as at 31st December 2021	513,656	619	299,546	813,821
Balance as at 1st April 2022	513,656	619	186,173	700,448
Profit for the period	-	-	106,728	106,728
Balance as at 31st December 2022	513,656	619	292,901	807,176

1. The above figures are provisional and subject to audit.
2. Figures in brackets indicate deductions.

Page 3 of 9

INTERIM FINANCIAL STATEMENTS

GALLE FACE CAPITAL PARTNERS PLC
STATEMENT OF CASH FLOWS
FOR THE PERIOD ENDED 31ST DECEMBER	2022	2021
	Rs.'000	Rs.'000
	UNAUDITED	UNAUDITED
Cash Flow from Operating Activities
Profit Before Tax	119,808	33,260
Adjustments:
Finance Income	(57,486)	(17,763)
Finance Cost	8	2
Gain on Disposal of Shares	(21,387)	(2,003)
Loss/Gain on Investments - Measured at Fair value Through Profit or Loss	(32,444)	(13,770)
Operating Cash Flows before Working Capital changes	8,499	(274)
Changes in Working Capital
(Increase)/Decrease in Other Current Assets	26,389	-
(Increase)/Decrease in investments	(372,231)	-
Increase/(Decrease) in Trade and Other Payables	(276)	(2,094)
Cash Flows Generated from Operations	(337,620)	(2,368)
Income Tax Paid	(2,307)	(3,927)
Investment in Shares	(47,995)	(455,741)
Disposal of Shares	65,763	-
Disposal of Equity Accounted Investees	143,829	-
Net Cash Flows generated from Operating Activities	(178,330)	(462,036)
Cash Flows from Investing Activities
Interest Received	57,486	17,763
Finance Cost	(8)	(2)
Net Cash Flows generated from Investing Activities	57,478	17,761
Cash Flows from Financing Activities
Dividend Paid	-	-
Net Cash Flows used in Financing Activities	-	-
Net Increase/(Decrease) in Cash and Cash Equivalents	(120,851)	(444,275)
Cash and Cash Equivalents at the beginning of the period	194,887	787,938
Cash and Cash Equivalents at the end of the period	74,036	343,663

1. The above figures are provisional and subject to audit.
2. Figures in brackets indicate deductions.

Page 4 of 9

INTERIM FINANCIAL STATEMENTS