MULLER & PHIPPS (CEYLON) PLC INTERIM RESULTS
FOR THE PERIOD ENDED
30TH SEPTEMBER 2022
MULLER & PHIPPS ( CEYLON) PLC 98,SRI SANGARAJA MAWATHA COLOMBO-10
COMPANY NO .PQ177
MULLER & PHIPPS (CEYLON) PLC
STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME - GROUP
For the Period Ended 30th September 2022 | Quarter Ended | Six Months Ended | ||||
2022 | 2021 | Variance | 2022 | 2021 | Variance | |
Rs,000 | Rs,000 | Rs,000 | Rs,000 | |||
Revenue | 112,331 | 345,493 | -67% | 377,411 | 501,465 | -25% |
Cost of Sales | (100,514) | (270,721) | 63% | (290,216) | (389,438) | 25% |
Gross Profit | ||||||
11,817 | 74,772 | -84% | 87,195 | 112,027 | -22% | |
Other Operating Income | 5,219 | 5,984 | -13% | 5,220 | 8,912 | -41% |
Administrative Expenses | (29,136) | (25,834) | -13% | (54,574) | (51,065) | -7% |
Distribution Expenses | (5,800) | (4,533) | -28% | (11,229) | (7,614) | -47% |
Profit/(Loss) from Operations | ||||||
(17,901) | 50,389 | -136% | 26,611 | 62,260 | -57% | |
Finance Income | 76,733 | 849 | 8938% | 5,411 | 3,218 | 68% |
Finance Expenses | (24,678) | (15,355) | -61% | (69,587) | (21,879) | -218% |
Net Financing Income/ (Expenses) | ||||||
52,055 | (14,506) | 459% | (64,176) | (18,661) | -244% | |
Profit/(Loss) Before Income Tax Expense | ||||||
34,155 | 35,883 | -5% | (37,564) | 43,599 | -186% | |
Income Tax (Expense)/ Reversal | - | - | 0% | - | - | 0% |
Profit/(Loss) for the Period | -5% | -186% | ||||
34,155 | 35,883 | (37,564) | 43,599 | |||
Other Comprehensive Income | ||||||
Net Change in Fair Value of Available for Sale - Financial Assets | 3,545 | (2,774) | 228% | 2,804 | (3,064) | 192% |
Total Comprehensive Income for the Period | 14% | -186% | ||||
37,700 | 33,109 | (34,760) | 40,535 | |||
Earnings per share (Rs.) | 0.12 | 0.13 | (0.13) | 0.15 |
Figures in brackets indicate deductions.
Above figures are provisional and subject to audit.
MULLER & PHIPPS (CEYLON) PLC
STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME - COMPANY
For the Period Ended 30th September 2022 | Quarter Ended | Six Months Ended | ||||
2022 | 2021 | Variance | 2022 | 2021 | Variance | |
Rs,'000 | Rs,'000 | Rs,'000 | Rs,'000 | |||
Revenue | 500 | 500 | 0% | 1,000 | 1,000 | 0% |
Cost of Sales | - | - | - | - | ||
Gross Profit | 500 | 500 | 0% | 1,000 | 1,000 | 0% |
Other Operating Income | 314 | - | 100% | 314 | - | 100% |
Administrative Expenses | (1,387) | (934) | -48% | (2,443) | (1,958) | -25% |
Profit/(Loss) from Operations | (573) | (434) | -32% | (1,129) | (958) | -18% |
Net Financing Income / (Expenses) | 5,003 | 1,945 | 157% | 9,095 | 4,782 | 90% |
Profit Before Income Tax Expense | 4,430 | 1,511 | 193% | 7,966 | 3,824 | 108% |
Income Tax Expense | - | - | 0% | - | - | 0% |
Profit for the Period | ||||||
4,430 | 1,511 | 193% | 7,966 | 3,824 | 108% | |
Other Comprehensive Income | ||||||
Net Change in Fair Value of Available for Sale - Financial Assets | 3,527 | (2,786) | 227% | 2,786 | (3,076) | 191% |
Total Comprehensive Income for the Period | ||||||
7,957 | (1,275) | 724% | 10,752 | 748 | 1337% | |
Earnings per share (Rs.) | 0.02 | 0.01 | 0.03 | 0.01 |
Figures in brackets indicate deductions.
Above figures are provisional and subject to audit.
MULLER & PHIPPS (CEYLON) PLC | |||||
STATEMENT OF FINANCIAL POSITION | |||||
Group | Company | ||||
Unaudited | Audited | Unaudited | Audited | ||
As at | 30-09-2022 | 31-03-2022 | 30-09-202231-03-2022 | ||
Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 | ||
ASSETS | |||||
Non-Current Assets | |||||
Property, Plant & Equipment | 5,870 | 6,390 | - | - | |
Intangible Assets | 405 | 563 | - | - | |
Right of use the Asset | 831 | 1,663 | - | - | |
Investments in Subsidiaries | - | - | 53,897 | 53,897 | |
Financial Assets Available for Sale | |||||
-Investment in Shares | 23,572 | 20,768 | 10,227 | 7,441 | |
-Investment in Debentures | 14,713 | 14,713 | 14,713 | 14,713 | |
Deferred Tax Assets | 58,049 | 58,048 | 619 | 619 | |
Total Non Current Assets | 103,440 | 102,145 | 79,456 | 76,670 | |
Current Assets | |||||
Inventories | 97,843 | 136,452 | - | - | |
Trade and Other Receivables | 340,467 | 459,826 | 20 | 20 | |
Amounts due from Related Companies | 47,902 | 46,095 | 112,087 | 105,312 | |
Investment in Fixed Deposit | - | 29,083 | - | - | |
Income Tax Recoverable | 607 | 607 | 607 | 607 | |
Cash and Cash Equivalent | 23,027 | 24,965 | 4,446 | 3,754 | |
Total Current Assets | 509,846 | 697,028 | 117,160 | 109,693 | |
TOTAL ASSETS | 613,286 | 799,173 | 196,616 | 186,363 | |
EQUITY AND LIABILITIES | |||||
Equity | |||||
Stated Capital | 83,000 | 83,000 | 83,000 | 83,000 | |
Reserves | (79,256) | (44,496) | 111,060 | 100,307 | |
Equity Attributable to Equity Holders of the | |||||
Company | 3,744 | 38,504 | 194,060 | 183,307 | |
Non-Current Liabilities | |||||
Retirement Benefit Obligations | 10,463 | 8,192 | - | - | |
Total Non Current Liabilities | 10,463 | 8,192 | - | - | |
Current Liabilities | |||||
Trade and Other Payables | 143,631 | 558,433 | 2,556 | 3,056 | |
Interest Bearing Borrowing | 304,787 | 135,216 | - | - | |
Lease Obligation | 455 | 970 | - | - | |
Income Tax payable | 6,263 | 6,263 | - | - | |
Amounts due to Related Companies | 124,002 | 21,026 | - | - | |
Deferred TaxLiability | - | - | - | - | |
Bank Overdraft | 19,941 | 30,569 | - | - | |
Total Current Liabilities | 599,079 | 752,477 | 2,556 | 3,056 | |
TOTAL EQUITY & LIABILITIES | |||||
613,286 | 799,173 | 196,616 | 186,363 | ||
Net asset value per share | 0.01 | 0.14 | 0.69 | 0.65 |
I certify that the Financial Statements of the Company have been prepared in compliance with the requirements of the Companies Act No. 07 of 2007.
(sgd.)
- Rathnasekara Director/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 of Muller & Phipps (Ceylon) PLC.
(sgd.) | (sgd.) |
R.C.A. Welikala | S.W.Gunawardena |
Director | Director |
Colombo | |
Date: 11th November 2022 | |
Muller & Phipps (Ceylon) PLC |
MULLER & PHIPPS (CEYLON) PLC
STATEMENT OF CHANGES IN EQUITY
Group | ||||||
Stated Capital | General Reserve | Capital Reserve | AFS Reserves | Retained Earnings | Total | |
Rs,'000 | Rs,'000 | Rs,'000 | Rs,'000 | Rs,'000 | Rs,'000 | |
Balance as at 1st April 2021 | 83,000 | 5,000 | 401 | 9,350 | (13,350) | 84,401 |
Profit for the period | - | - | - | - | 43,599 | 43,599 |
Other comprehensive income for the period | - | - | - | (3,064) | - | (3,064) |
Balance as at 30th September 2021 | 83,000 | 5,000 | 401 | 6,286 | 30,249 | 124,935 |
Balance as at 1st April 2022 | 83,000 | 5,000 | 401 | (2,697) | (47,200) | 38,504 |
Profit for the period | - | - | - | - | (37,564) | (37,564) |
Other comprehensive income for the period | - | - | - | 2,804 | - | 2,804 |
Balance as at 30th September 2022 | 83,000 | 5,000 | 401 | 107 | (84,764) | 3,744 |
Company | ||||||
Stated Capital | General Reserve | Capital Reserve | AFS Reserves | Retained Earnings | Total | |
Rs,'000 | Rs,'000 | Rs,'000 | Rs,'000 | Rs,'000 | Rs,'000 | |
Balance as at 1st April 2021 | 83,000 | 5,000 | 401 | 10,731 | 86,999 | 186,131 |
Profit for the period | - | - | - | - | 3,824 | 3,824 |
Other comprehensive income for the period | - | - | - | (3,076) | - | (3,076) |
Balance as at 30th September 2021 | 83,000 | 5,000 | 401 | 7,655 | 90,823 | 186,879 |
Balance as at 1st April 2022 | 83,000 | 5,000 | 401 | (707) | 95,613 | 183,307 |
Profit for the period | - | - | - | - | 7,966 | 7,966 |
- | ||||||
Other comprehensive income for the period | - | - | - | 2,786 | - | 2,786 |
Balance as at 30th September 2022 | 83,000 | 5,000 | 401 | 2,079 | 103,579 | 194,060 |
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Muller & Phipps (Ceylon) plc published this content on 14 November 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 November 2022 11:11:03 UTC.
