Kandy Hotels 1938 : Quarterly Financial Report for the Q/E 30/06/2022

Interim Condensed Financial Statements Three Months Ended 30th June 2022

The Kandy Hotels Company (1938) PLC

A Member of the Galle Face Group

The Kandy Hotels Company (1938) PLC

CORPORATE INFORMATION

Stock Exchange Listing

The Ordinary Shares of the Company are listed on the

Colombo Stock Exchange of Sri Lanka

Directors

Sanjeev Gardiner - Chairman

Charitha Ratwatte

Lakshman Samarasinghe

Priyantha Maddumage

Ranjith Gunatilleke

Nahil Wijesuriya

Chandra Mohotti

Nilanga Dela

Shalike Karunasena (Alternate Director to Mr. Priyantha Maddumage)

Secretaries

Accounting Systems Secretarial Services (Pvt) Ltd

Level 03, No 11, Castle Lane, Colombo 04

Auditors

Ernst & Young

Chartered Accountants

839/2, Peradeniya Road, Kandy

Registered Office

The Kandy Hotels Company (1938) PLC

No. 327, Union Place, Colombo 02

Company Registration No. PQ 201

Hotel Reservations

Ceylon Hotels Corporation PLC

Regency Wing - Galle Face Hotel

No. 02, Galle Road, Colombo 03

Tel: [phone] Fax : [phone]

Email : [e-mail]

Website : www.queenshotel.lk/www.hotelsuisse.lk

THE KANDY HOTELS COMPANY (1938) PLC
STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
	Group		Company
	Three Months Ended 30th	Three Months Ended 30th	Variance
	June		June
	2022	2021	2022	2021	Group
	Rs. '000'	Rs. '000'	Rs. '000'	Rs. '000'	%
Revenue	61,306	29,135	61,306	29,135	110%
Cost of sales	(32,305)	(15,584)	(32,305)	(15,584)	107%
Gross profit	29,002	13,551	29,002	13,551	114%
Administrative expenses	(50,157)	(34,329)	(50,081)	(34,199)	46%
Selling & distribution expenses	(2,839)	(515)	(2,839)	(515)	451%
Results from operating activities	(23,994)	(21,293)	(23,918)	(21,163)	13%
Finance expenses	(24,731)	(13,280)	(24,731)	(13,280)	86%
Finance income	27,239	18,085	27,239	18,085	51%
Net finance income	2,508	4,805	2,508	4,805	-48%

Share of loss of Joint venture	-	(17,801)	-	-	0%
Loss before taxation
(21,486)	(34,289)	(21,411)	(16,358)	-78%
Income tax	(6,536)	3,219	(6,536)	3,219	-303%
Loss for the period
(28,023)	(31,070)	(27,947)	(13,139)	-23%
Other comprehensive income
-		-		-		-	-
Total other comprehensive income	-	-	-	-	-
Total comprehensive income for the period, net
of tax	(28,023)		(31,070)		(27,947)		(13,139)	-23%
Losses per share for the period (Rs.)
(0.05)	(0.05)	(0.05)	(0.02)

(28,023) (31,070)

Entire profit and total comprehensive income is attributable to equity holders of the parent.

Note : The above figures for the twelve months ended 30th June 2022 are provisional and subject to Audit. Figures in brackets indicate deductions.

All values are in Rupees Thousands unless otherwise stated.

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THE KANDY HOTELS COMPANY (1938) PLC

STATEMENT OF CHANGES IN EQUITY

Period ended 30th June 2022

Group	Stated		FVOCI		Revaluation		Retained		Total
	Capital		Reserve		Reserves		Earnings		Equity
	Rs. '000'		Rs. '000'		Rs. '000'		Rs. '000'		Rs. '000'
Balance as at 01st April 2020	16,750		(75,000)		6,954,430		1,013,870		7,910,050
Loss for the period	-		-		-		(167,524)		(167,524)
Other comprehensive income
Actuarial gain/(loss) on retirement benefit obligation net of tax	-		-		-		(606)		(606)
Share of other comprehensive income attributable to joint venture	-		-		-		88		88
Total comprehensive income/(loss) for the period	-		-		-		(168,042)		(168,042)
Transaction with owners of the company
Dividends-(15% Cumulative preference shares)	-		-		-		(8)		(8)
Total transaction with owners of the company	-		-		-		(8)		(8)
Balance as at 31st March 2021	16,750		(75,000)		6,954,430		845,820		7,742,000
Loss for the period	-		-		-		(31,070)		(31,070)
Total comprehensive loss for the period	-		-		-		(31,070)		(31,070)
Transfer to retained earnings	-		-		(9,375)		9,375		-
Balance as at 30th June 2021	16,750		(75,000)		6,945,055		824,125		7,710,930
Balance as at 01st April 2021	16,750		(75,000)		6,890,579		909,469		7,741,798
Loss for the period	-		-		-		(154,280)		(154,280)
Other comprehensive income
Revaluation of property , plant and equipment (net of tax)	-		-		1,007,575		-		1,007,575
Actuarial loss on defined benefit plans (net of tax)	-		-		-		(963)		(963)
Changes in equity instruments designated at FVTOCI	-		75,000		-		-		75,000
Total comprehensive loss for the period	-		75,000		1,007,575		(155,243)		927,332
Transaction with owners of the company
Transfer to retained earnings	-		-		(63,851)		63,851		-
Dividends-(15% Cumulative preference shares)	-		-		-		(38)		(38)
Total transaction with owners of the company	-		-		(63,851)		63,813		(38)
Balance as at 31st March 2022	16,750		-		7,834,303		818,039		8,669,093
Loss for the period							(28,023)		(28,023)
Total comprehensive loss for the period	-		-		-		(28,023)		(28,023)
Transaction with owners of the company
Transfer to retained earnings	-		-		(21,821)		21,821		-
Dividends-(15% Cumulative preference shares)	-		-		-		(9)		(9)
Total transaction with owners of the company	-		-		(21,821)		21,811		(9)
Balance as at 30th June 2022	16,750		-		7,812,483		811,828		8,641,061
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