THE COLOMBO FORT LAND & BUILDING PLC
Company No. PQ 172
INTERIM FINANCIAL STATEMENTS
For The Quarter Ended
30th June 2022
THE COLOMBO FORT LAND & BUILDING PLC
Company No. PQ 172
Table of Contents | Page No. |
Statement of Comprehensive Income - Group | 1 |
Statement of Comprehensive Income - Company | 2 |
Statement of Financial Position | 3 |
Statement of Changes in Equity | 4 |
Statement of Cash Flows | 5 |
Segmental Information | 6 - 7 |
Notes to the Financial Statements | 8 - 9 |
Corporate Information | 10 |
THE COLOMBO FORT LAND & BUILDING PLC
Company No. PQ 172
STATEMENT OF COMPREHENSIVE INCOME - GROUP
(Unaudited) | (Unaudited) | ||||
Quarter | Quarter | ||||
ended | ended | Variance | |||
30.06.2022 | 30.06.2021 | % | |||
Rs.'000 | Rs.'000 | ||||
Revenue | 17,936,963 | 11,899,007 | + | 51 | |
Cost of Sales | (12,324,593) | (9,627,734) | - | 28 | |
Gross Profit | 5,612,370 | 2,271,273 | + | 147 | |
Other Income / (Expenses) | (167,444) | 343,186 | - | 149 | |
Distribution Costs | (997,135) | (650,488) | - | 53 | |
Administration Expenses | (1,323,434) | (1,044,132) | - | 27 | |
Financing Cost | (1,835,482) | (585,495) | - | 213 | |
Share of Results of Associates | (20,420) | 18,361 | - | 211 | |
Share of Results of Joint Venture | (50,203) | (20,688) | - | 143 | |
Profit before Tax Expense | 1,218,252 | 332,017 | + | 267 | |
Tax Expense | (219,720) | (92,103) | - | 139 | |
Profit / (Loss) for the period | 998,532 | 239,914 | + | 316 | |
Financial assets at Fair value through Other | |||||
Comprehensive Income | |||||
- Net change in fair value | (118,829) | (22,081) | - | 438 | |
Actuarial Gain /Losses on Defined Plan | (4,364) | (2,087) | - | 109 | |
Revaluation of Land | - | - | |||
Share of Results of Associate | (3,315) | 17,491 | - | 119 | |
Tax on Other Comprehensive Income | - | - | |||
Exchange Differences on Translation of Foreing Operations | - | - | |||
Total Comprehensive Income For The Period | 872,024 | 233,237 | + | 274 | |
Profit Attributable to | |||||
Equity Holders of the Parent | 371,324 | 90,157 | + | 148 | |
Non -Controlling Interest | 627,208 | 149,758 | + | - | |
998,532 | 239,914 | + | 316 | ||
Total Comprehensive Income Attributable | |||||
Equity Holders of the Parent | 296,446 | 133,162 | + | 123 | |
Non -Controlling Interest | 575,579 | 100,075 | + | 475 | |
872,024 | 233,237 | + | 274 | ||
Earnings per Share (Rs.) | 1.55 | 0.39 | + | 297 |
2022/23 1st Quarter | Page 1 |
THE COLOMBO FORT LAND & BUILDING PLC
Company No. PQ 172
STATEMENT OF COMPREHENSIVE INCOME - COMPANY
(Unaudited) | (Unaudited) | ||||
Quarter | Quarter | ||||
ended | ended | Variance | |||
30.06.2022 | 30.06.2021 | % | |||
Rs.'000 | Rs.'000 | ||||
Revenue | 26,213 | 26,836 | - | 2 | |
Cost of Sales | - | - | |||
Gross Profit | 26,213 | 26,836 | - | 2 | |
Other Income | 1,229 | 1,171 | + | 5 | |
Distribution Costs | - | - | - | - | |
Administration Expenses | (18,791) | (15,517) | - | 21 | |
Other Expenses | (565) | (1) | - | 56,400 | |
Net Finance Cost | (8,558) | (1,871) | - | 357 | |
Profit before Tax Expense | (472) | 10,618 | - | 104 | |
Tax Expense | (303) | - | - | - | |
Profit / (Loss) for the period | (775) | 10,618 | - | 107 | |
Other Comprehensive Income | |||||
Financial assets at Fair value through Other Comprehensive Income - Net | |||||
change in fair value | (1,791) | 1,021 | - | 275 | |
Total Comprehensive Income For The Period | (2,566) | 11,639 | - | 122 | |
Earnings per Share (Rs.) | (0.00) | 0.05 | - | 106 |
2022/23 1st Quarter | Page 2 |
THE COLOMBO FORT LAND & BUILDING PLC
Company No. PQ 172
STATEMENT OF FINANCIAL POSITION
Group | Company | Group | Company | ||||||||||
(Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | ||||||||
As at | As at | As at | As at | As at | As at | ||||||||
31.03.2022 | 31.03.2022 | 30.06.2022 | 30.06.2021 | 30.06.2022 | 30.06.2021 | ||||||||
Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 | ||||||||
ASSETS | |||||||||||||
Non - Current Assets | |||||||||||||
23,828,339 | 5,441 | Property, Plant & Equipment | 23,375,406 | 20,283,059 | 4,655 | 7,872 | |||||||
770,429 | - | Leasehold Properties | 779,258 | 808,392 | - | - | |||||||
2,791,967 | 799,850 | Investment Properties | 2,784,291 | 2,816,618 | 798,990 | 802,523 | |||||||
668,990 | - | Right to use of Assets | 657,637 | 678,417 | - | - | |||||||
2,952,534 | - | Biological Assets | 3,133,939 | 2,949,827 | - | - | |||||||
808,723 | - | Intangible Assets | 801,120 | 861,261 | - | - | |||||||
- | 1,546,203 | Investments in Subsidiaries | - | - | 1,546,203 | 1,716,446 | |||||||
366,593 | 97,989 | Investments in equity accounted investees | 342,859 | 600,055 | 101,052 | 95,819 | |||||||
163,547 | - | Investment in Joint Venture | 113,344 | 270,458 | - | - | |||||||
588,519 | 5,088 | Other Investments | 575,745 | 628,482 | 3,296 | 4,302 | |||||||
10,107 | - | Employee Benefits | 10,107 | - | - | - | |||||||
744,460 | - | Deferred Tax Assets | 601,737 | 787,288 | - | - | |||||||
33,694,208 | 2,454,571 | 33,175,443 | 30,683,858 | 2,454,196 | 2,626,962 | ||||||||
Current Assets | |||||||||||||
9,309,311 | - | Inventories | 11,773,928 | 8,677,055 | - | - | |||||||
9,014,826 | 36,272 | Trade and Other Receivables | 9,439,515 | 8,070,443 | 42,833 | 41,810 | |||||||
Fair Value gain on growing produce of | |||||||||||||
16,664 | - | bearer Biological Assets | 18,693 | 15,382 | - | - | |||||||
43,929 | 199,491 | Amounts Due from Related Parties | 43,523 | 166,555 | 170,390 | 218,780 | |||||||
- | 403,600 | Loans Given to Related Parties | - | - | 426,050 | 347,500 | |||||||
105,288 | - | Income Tax Recoverable | 87,298 | 110,315 | - | - | |||||||
1,000,556 | 2,465 | Other Investments | 793,931 | 1,258,311 | 2,006 | 3,206 | |||||||
2,748,314 | 33,895 | Bank & Cash Balances | 2,226,924 | 2,105,421 | 33,317 | 175,821 | |||||||
22,238,888 | 675,723 | 24,383,812 | 20,403,482 | 674,596 | 787,118 | ||||||||
30,000 | - | Assets Held for Sale | 30,000 | 663,835 | - | - | |||||||
55,963,096 | 3,130,294 | Total Assets | 57,589,255 | 51,751,175 | 3,128,792 | 3,414,080 | |||||||
EQUITY AND LIABILITIES | |||||||||||||
Equity Attributable to Equity Holders of the Parent | |||||||||||||
927,000 | 927,000 | Stated Capital | 927,000 | 927,000 | 927,000 | 927,000 | |||||||
20,058 | 10,000 | Capital Reserves | 20,058 | 20,058 | 10,000 | 10,000 | |||||||
2,601,255 | 1,202,931 | Revenue Reserves | 2,897,700 | 2,024,261 | 1,200,365 | 1,157,849 | |||||||
3,548,313 | 2,139,931 | 3,844,758 | 2,971,319 | 2,137,365 | 2,094,849 | ||||||||
4,778,529 | - | Non- Controlling interest | 5,248,675 | 4,164,409 | - | - | |||||||
8,326,842 | 2,139,931 | Total Equity | 9,093,433 | 7,135,728 | 2,137,365 | 2,094,849 | |||||||
Non - Current Liabilities | |||||||||||||
11,003,487 | 190,312 | Loans and Borrowings | 11,597,965 | 9,173,154 | 187,500 | 223,750 | |||||||
532,013 | - | Deferred Income - Capital Grants | 520,866 | 525,715 | - | - | |||||||
2,262,833 | 180,486 | Deferred Tax Liabilities | 2,315,820 | 2,323,398 | 180,788 | 197,077 | |||||||
3,367,963 | - | Employee Benefits | 3,054,440 | 3,967,982 | - | - | |||||||
12,172 | - | Rent Received in Advance | - | - | - | - | |||||||
17,178,468 | 370,798 | 17,489,091 | 15,990,249 | 368,288 | 420,827 | ||||||||
Current Liabilities | |||||||||||||
11,262,288 | 35,330 | Trade & Other Payables | 10,254,864 | 11,660,168 | 38,139 | 69,454 | |||||||
571,112 | 470,484 | Amounts Due to Related Parties | 295,932 | 378,500 | 489,175 | 576,845 | |||||||
15,273,119 | 46,250 | Loans and Borrowings | 16,865,307 | 12,750,535 | 36,250 | 71,283 | |||||||
8,765 | 8,765 | Rent Received in Advance | 838 | 780 | 838 | 781 | |||||||
450,853 | 58,736 | Income Tax Payables | 604,547 | 450,622 | 58,737 | 48,028 | |||||||
2,891,649 | - | Bank Overdraft | 2,985,243 | 3,384,593 | - | 132,013 | |||||||
30,457,786 | 619,565 | 31,006,731 | 28,625,198 | 623,139 | 898,404 | ||||||||
47,636,254 | 990,363 | Total Liabilities | 48,495,822 | 44,615,447 | 991,427 | 1,319,231 | |||||||
55,963,096 | 3,130,294 | Total Equity and Liabilities | 57,589,255 | 51,751,175 | 3,128,792 | 3,414,080 | |||||||
14.78 | 8.92 | Net Asset per Share (Rs.) | 16.02 | 12.38 | 8.91 | 8.73 | |||||||
The Board of Directors are responsible for the preparation and presentation of these financial statements. | |||||||||||||
For and on behalf of the Board. | |||||||||||||
(Sgd.) | (Sgd.) | ||||||||||||
S.D.R. Arudpragasam | P. M. A. Sirimane | ||||||||||||
Chairman | Group Finance Director | ||||||||||||
Date : 12th August 2022 | Page 3 | ||||||||||||
2022/23 1st Quarter |
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Colombo Fort Land & Building plc published this content on 15 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 August 2022 11:42:09 UTC.