Millennium Housing Developers : Interim Financial Statement as of 31-12-2021

INTERIM FINANCIAL STATEMENTS

FOR THE 3RD QUARTER ENDED

31ST DECEMBER 2021

MILLENNIUM HOUSING DEVELOPERS PLC

STATEMENT OF FINANCIAL POSITION

		Group
AS AT	31-Dec-21	31-Dec-20	31-Mar-21
	Un audited	Un audited	Audited
	Rs. '000	Rs. '000	Rs. '000
ASSETS
Non-current assets
Property, plant and equipment	24,496	19,274	22,836
Investment property	135,000	54,500	55,500
Right to use assets	32,127	9,402	5,388
Intangible assets	186	333	266
Financial assets - FVOCI	11,058	9,350	11,058
Deferred tax asset	2,242	2,403	2037
Total Non-current assets	205,109	95,262	97,085
Current assets
Inventories	1,877,155	1,784,003	1,742,396
Trade and other receivables	296,365	429,846	378,973
Amounts due from related companies	20,751	48,027	22,885
Income tax receivable	12,434	8,436	8,150
Cash and cash equivalent	21,417	79,943	56,038
Total Current assets	2,228,122	2,350,254	2,208,442
Total assets	2,433,231	2,445,517	2,305,527
EQUITY AND LIABILITIES
Equity
Stated capital	293,802	293,802	293,802
Reserves	18,108	16,401	18,108
Retained earnings	734,996	710,456	797,957
Equity attributable to owners of the Company	1,046,906	1,020,658	1,109,867
Total equity	1,046,906	1,020,658	1,109,867
Non-current liabilities
Interest bearing borrowings	510,906	410,888	363,948
Deferred tax liability	237	96	-
Retirement benefit obligation	22,323	24,278	25,047
Total Non-current liabilities	533,466	435,261	388,995
Current liabilities
Advance received from customers	175,332	354,663	142,004
Trade and other payables	354,474	250,320	296,646
Interest bearing borrowings	196,292	327,832	312,675
Debt Securities	3,250	3,250	3,250
Amounts due to related companies	832	488	1,311
Income tax payable	44,717	1,750	6,569
Bank overdraft	77,962	51,294	44,210
Total Current liabilities	852,860	989,597	806,665
Total liabilities	1,386,325	1,424,859	1,195,660
Total equity and liabilities	2,433,231	2,445,517	2,305,527
Net Asset Per Share	7.77	7.58	8.24

It is certified that the Financial Statements have been prepared in compliance with the requirements of the Companies Act No. 7 of 2007.

Sapmath Thennakoon

Chief Financial Officer

The Board of Directors is responsible for the preparation and presentation of these Financial Statements. Approved and signed for and on behalf of the Board ;

U.H. Dharmadasa	K.C.C. Perera
Chairman/Non Executive Director	Executive Director
14th February 2022

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MILLENNIUM HOUSING DEVELOPERS PLC

STATEMENT OF FINANCIAL POSITION

		Company
AS AT	31-Dec-21	31-Dec-20	31-Mar-21
	Un audited	Un audited	Audited
	Rs. '000	Rs. '000	Rs. '000
ASSETS
Non-current assets
Property, plant and equipment	19,330	11,932	16,234
Intangible Assets	82	177	127
Investment in subsidiaries	279,533	285,124	279,533
Right of use assets	32,127	9,402	5,388
Financial assets - FVOCI	11,058	9,350	11,058
Deferred tax asset	2,106	1,958	2,106
Total Non-current assets	344,235	317,944	314,446
Current assets
Inventories	373,564	152,268	162,758
Trade and other receivables	143,185	52,989	51,896
Amounts due from related companies	3,442	33,062	74,922
Income tax receivables	-	532	553
Cash and cash equivalent	11,351	18,926	8,742
Total Current assets	531,542	257,777	298,871
Total assets	875,777	575,721	613,317
EQUITY AND LIABILITIES
Equity
Stated capital	293,802	293,802	293,802
Reserve	18,108	16,401	18,108
Retained earnings	48,507	(128,675)	(76,148)
Equity attributable to owners of the Company	360,417	181,528	235,762
Total equity	360,417	181,528	235,762
Non-current liabilities
Interest bearing borrowings	170,000	6,665	3,100
Retirement benefit obligation	18,943	20,408	20,719
Total Non-current liabilities	188,943	27,073	23,819
Current liabilities
Advance received from customers	15,346	9,652	8,015
Trade and other payables	101,908	52,291	38,958
Interest bearing borrowings	33,699	3,753	3,565
Debt Securities	3,250	3,250	3,250
Amounts due to related companies	99,314	291,841	292,547
Income tax payable	40,207	-	-
Bank overdraft	32,693	6,332	7,401
Total Current liabilities	326,417	367,120	353,736
Total liabilities	515,360	394,193	377,555
Total equity and liabilities	875,777	575,721	613,317
Net Asset Per Share	2.68	1.35	1.75

It is certified that the Financial Statements have been prepared in compliance with the requirements of

the Companies Act No. 7 of 2007.

Sampath Thennakoon

Chief Finance Officer

The Board of Directors is responsible for the preparation and presentation of these Financial Statements. Approved and signed for and on behalf of the Board ;

U. H. Dharmadasa	K.C.C. Perera
Chairman/Non Executive Director	Executive Director
14th February 2022

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MILLENNIUM HOUSING DEVELOPERS PLC

CONSOLIDATED COMPREHENSIVE INCOME STATEMENT

	Quarter ended	Nine Months
	31st December	31st December
	2021	2020	2021	2020
	Un audited	Un audited	Un audited	Un audited
	Rs.'000	Rs.'000	Rs.'000	Rs.'000
Revenue	65,724	309,730	282,204	673,295
Cost of sales	(55,584)	(219,615)	(192,507)	(459,265)
Gross profit	10,141	90,114	89,698	214,030
Other operating income	89,241	6,924	107,432	20,689
Administration expenses	(55,116)	(50,570)	(163,915)	(148,225)
Selling and marketing expenses	(8,677)	(5,732)	(20,716)	(5,995)
Results from operating activities	35,589	40,737	12,499	80,499
Finance income	415	419	4,669	725
Finance costs	(17,902)	(10,205)	(37,927)	(23,166)
Net finance income	(17,487)	(9,785)	(33,258)	(22,440)
Profit/(Loss) before income tax	18,102	30,952	(20,759)	58,059
Income tax expense	(42,053)	1,888	(42,197)	(81)
Profit/(Loss) for the period	(23,950)	32,840	(62,955)	57,977
Other comprehensive income
Items that will not be reclassified to profit or loss
Other comprehensive income for the period net of tax	-	-	-	-
Total comprehensive income for the period net of tax	(23,950)	32,840	(62,955)	57,977
Profit/(Loss) attributable to :
Owners of the Company	(23,950)	32,840	(62,955)	57,977
Non-controlling interests		-		-
Profit/(Loss) for the period	(23,950)	32,840	(62,955)	57,977
Total comprehensive income attributable to
Owners of the Company	(23,950)	32,840	(62,955)	57,977
Non-controlling interest		-		-
Total comprehensive income for the period net of tax	(23,950)	32,840	(62,955)	57,977
Earnings/(loss) per share	(0.18)	0.24	(0.47)	0.43

Figures in brackets indicates deductions.

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MILLENNIUM HOUSING DEVELOPERS PLC

COPMANY COMPREHENSIVE INCOME STATEMENT

	Quarter ended	Nine Months
	31st December	31st December
	2021	2020	2021	2020
	Un audited	Un audited	Un audited	Un audited
	Rs.'000	Rs.'000	Rs.'000	Rs.'000
Revenue	-	33,000	-	59,530
Cost of sales	-	(22,270)	-	(40,646)
Gross profit	-	10,730	-	18,884
Other operating income	301,159	683	303,526	2,887
Administration expenses	(37,373)	(34,499)	(109,841)	(101,141)
Selling and marketing expenses	(6,806)	(793)	(15,017)	(992)
Results from operating activities	256,980	(23,879)	178,668	(80,361)
Finance income	107	179	671	293
Finance costs	(4,649)	(27)	(12,586)	(68)
Net finance income	(4,542)	152	(11,915)	225
Profit/(Loss) before income tax	252,438	(23,727)	166,753	(80,136)
Income tax expense	(42,019)	302	(42,098)	(22)
Profit/(Loss) for the period	210,419	(23,425)	124,655	(80,159)
Other comprehensive income
Items that will not be reclassified to profit or loss
Other comprehensive income for the period net of tax	-	-	-	-
Total comprehensive income for the period net of tax	210,419	(23,425)	124,655	(80,159)
Profit/(Loss) attributable to ;
Owners of the Company	210,419	(23,425)	124,655	(80,159)
Non-controlling interest
Profit/(Loss) for the Period	210,419	(23,425)	124,655	(80,159)
Total comprehensive income attributable to:
Owners of the Company	210,419	(23,425)	124,655	(80,159)
Non-controlling interests	-	-	-	-
Total comprehensive income for the period	210,419	(23,425)	124,655	(80,159)
Earnings per share	1.56	(0.17)	0.93	(0.60)

Figures in brackets indicates deductions.

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