ACME PRINTING & PACKAGING PLC (PQ 196)
INTERIM FINANCIAL STATEMENTS
FOR THE PERIOD ENDED
30TH SEPTEMBER 2022
ACME PRINTING & PACKAGING PLC
CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
For the Three months ended 30th September | For the Six months ended 30th September | ||||||||||||||
2022 | 2021 | % Change | 2022 | 2021 | % Change | ||||||||||
Rs'000 | Rs'000 | + / ( - ) | Rs'000 | Rs'000 | + / ( - ) | ||||||||||
Unaudited | Unaudited | Unaudited | Unaudited | ||||||||||||
Revenue | 296,371 | 277,924 | 7% | 506,493 | 615,717 | ( 18%) | |||||||||
Cost of Sales | (175,244) | (299,099) | ( 41%) | (319,275) | (633,282) | ( 50%) | |||||||||
Gross (Loss) / Profit | 121,127 | (21,175) | ( 672%) | 187,218 | (17,565) | ( 1,166%) | |||||||||
Other Income / (Expense) | 3,315 | 3,552 | ( 7%) | 8,101 | (6,016) | ( 235%) | |||||||||
Administrative Expenses | (25,857) | (20,873) | 24% | (44,189) | (41,501) | 6% | |||||||||
Distribution Expenses | (4,205) | (6,434) | ( 35%) | (6,080) | (14,088) | ( 57%) | |||||||||
Impairment (Provision) / Reversal of Trade Receivables | (508) | 44 | ( 1,255%) | (1,780) | (3,449) | ( 48%) | |||||||||
Profit / (Loss) from Operations | |||||||||||||||
93,872 | (44,886) | ( 309%) | 143,270 | (82,619) | ( 273%) | ||||||||||
Finance Income | 289 | 980 | ( 71%) | 3,256 | 1,063 | 206% | |||||||||
Finance Expense | (61,643) | (34,014) | 81% | (120,311) | (66,380) | 81% | |||||||||
Net Finance Expense | (61,354) | (33,034) | 86% | (117,055) | (65,317) | 79% | |||||||||
Profit / (Loss) before Taxation | |||||||||||||||
32,518 | (77,920) | ( 142%) | 26,215 | (147,936) | ( 118%) | ||||||||||
Income Tax Expense | - | (2,478) | ( 100%) | - | (4,339) | ( 100%) | |||||||||
Profit / (Loss) for the Period | |||||||||||||||
32,518 | (80,398) | ( 140%) | 26,215 | (152,275) | ( 117%) | ||||||||||
Other Comprehensive Income for the Period | |||||||||||||||
Items that might not be reclassified to the P&L | |||||||||||||||
Total Other Comprehensive Income for the Period - Net of Taxes | - | - | - | - | - | - | |||||||||
Total Comprehensive Income for the Period | |||||||||||||||
32,518 | (80,398) | ( 140%) | 26,215 | (152,275) | ( 117%) | ||||||||||
Profit / (Loss) attributable to | |||||||||||||||
Equity Holders of the Company | 32,518 | (80,398) | ( 140%) | 26,215 | (152,275) | ( 117%) | |||||||||
Non Controlling Interest | - | - | - | - | |||||||||||
Profit / (Loss) for the Period | 32,518 | (80,398) | ( 140%) | 26,215 | (152,275) | ( 117%) | |||||||||
Total Comprehensive Income Attributable to | |||||||||||||||
Equity Holders of the Company | 32,518 | (80,398) | ( 140%) | 26,215 | (152,275) | ( 117%) | |||||||||
Non Controlling Interest | - | - | - | - | |||||||||||
Total Comprehensive Income for the Period | 32,518 | (80,398) | ( 140%) | 26,215 | (152,275) | ( 117%) | |||||||||
Basic Earnings / (Loss) per Share | Rs. | 0.40 | Rs. | (1.64) | ( 125%) | Rs. | 0.33 | Rs. | (3.10) | ( 111%) | |||||
Market price per share | Quarterly | ||||||||||||||
2022 | 2021 | ||||||||||||||
Highest | Rs. | 7.50 | Rs. | 13.50 | |||||||||||
Lowest | Rs. | 4.60 | Rs. | 5.70 | |||||||||||
Last Traded Price | Rs. | 6.80 | Rs. | 12.40 |
Figures in brackets indicate deductions.
All values are in Rupees '000, unless otherwise stated.
ACME PRINTING & PACKAGING PLC
STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME - COMPANY
For the Three months ended 30th September | For the Six months ended 30th September | |||||||||||||||
2022 | 2021 | % Change | 2022 | 2021 | % Change | |||||||||||
Rs'000 | Rs'000 | + / ( - ) | Rs'000 | Rs'000 | + / ( - ) | |||||||||||
Unaudited | Unaudited | Unaudited | Unaudited | |||||||||||||
Revenue | 299,573 | 204,542 | 46% | 461,855 | 507,037 | ( 9%) | ||||||||||
Cost of Sales | (219,394) | (200,391) | 9% | (337,312) | (493,221) | ( 32%) | ||||||||||
Gross Profit / (Loss) | 80,179 | 4,151 | 1,832% | 124,543 | 13,816 | 801% | ||||||||||
Other Income | 7,695 | 6,985 | 10% | 13,512 | 12,695 | 6% | ||||||||||
Administrative Expenses | (16,393) | (12,014) | 36% | (29,303) | (22,951) | 28% | ||||||||||
Distribution Expenses | (4,103) | (4,990) | ( 18%) | (5,905) | (11,357) | ( 48%) | ||||||||||
Impairment (Provision) / Reversal of Trade Receivables | (539) | 869 | ( 162%) | (1,479) | 220 | ( 772%) | ||||||||||
Profit / (Loss) from Operations | ||||||||||||||||
66,839 | (4,999) | ( 1,437%) | 101,368 | (7,577) | ( 1,438%) | |||||||||||
Finance Income | 289 | 849 | ( 66%) | 3,256 | 1,063 | 206% | ||||||||||
Finance Expense | (36,338) | (16,010) | 127% | (65,800) | (30,927) | 113% | ||||||||||
Net Finance Expense | (36,049) | (15,161) | 138% | (62,544) | (29,864) | 109% | ||||||||||
Profit / (Loss) before Taxation | ||||||||||||||||
30,790 | (20,160) | ( 253%) | 38,824 | (37,441) | ( 204%) | |||||||||||
Income Tax Expense | - | (1,305) | ( 100%) | - | (2,259) | ( 100%) | ||||||||||
Profit / (Loss) for the Period | ||||||||||||||||
30,790 | (21,465) | ( 243%) | 38,824 | (39,700) | ( 198%) | |||||||||||
Other Comprehensive Income for the Period | ||||||||||||||||
Items that might not be reclassified to the P&L | ||||||||||||||||
Total Other Comprehensive Income for the Period - Net of Taxes | - | - | - | - | - | - | ||||||||||
- | - | - | - | |||||||||||||
Total Comprehensive Income for the Period | 30,790 | (21,465) | ( 243%) | 38,824 | (39,700) | ( 198%) | ||||||||||
Profit / (Loss) attributable to | ||||||||||||||||
Equity Holders of the Company | 30,790 | (21,465) | ( 243%) | 38,824 | (39,700) | ( 198%) | ||||||||||
Profit / (Loss) for the Period | 30,790 | (21,465) | ( 243%) | 38,824 | (39,700) | ( 198%) | ||||||||||
Total Comprehensive Income Attributable to | ||||||||||||||||
Equity Holders of the Company | 30,790 | (21,465) | ( 243%) | 38,824 | (39,700) | ( 198%) | ||||||||||
Total Comprehensive Income for the Period | 30,790 | (21,465) | ( 243%) | 38,824 | (39,700) | ( 198%) | ||||||||||
Basic Earnings / (Loss) per Share | Rs. | 0.38 | Rs. | (0.27) | ( 243%) | Rs. | 0.48 | Rs. | (0.81) | ( 160%) | ||||||
Figures in brackets indicate deductions. | ||||||||||||||||
All values are in Rupees '000, unless otherwise stated. |
ACME PRINTING & PACKAGING PLC
STATEMENT OF FINANCIAL POSITION
Group | Company | ||||||||||
As at 30th | As at 1st April | As at 30th | As at 1st April | ||||||||
September 2022 | 2022 | September 2022 | 2022 | ||||||||
Rs'000 | Rs'000 | Rs'000 | Rs'000 | ||||||||
ASSETS | Unaudited | Audited | Unaudited | Audited | |||||||
Non-Current Assets | |||||||||||
Property, Plant and Equipment | 966,715 | 1,002,508 | 657,556 | 672,522 | |||||||
Right of Use Assets | 18,853 | 19,785 | - | - | |||||||
Financial Investments - FVTOCI | 25 | 25 | 25 | 25 | |||||||
Amount Due from Related Parties | - | - | 197,886 | 197,886 | |||||||
Defined Benefit Plan Assets | 10,107 | 10,107 | 10,107 | 10,107 | |||||||
Total Non-Current Assets | 995,700 | 1,032,425 | 865,574 | 880,540 | |||||||
Current Assets | |||||||||||
Inventories | 192,742 | 185,907 | 147,724 | 123,500 | |||||||
Trade and Other Receivables | 318,721 | 101,400 | 219,054 | 75,793 | |||||||
Amount Due from Related Parties | - | - | 23,827 | - | |||||||
Cash and Cash Equivalents | 46,663 | 36,051 | 39,089 | 32,018 | |||||||
Total Current Assets | 558,126 | 323,358 | 429,694 | 231,311 | |||||||
Total Assets | 1,553,826 | 1,355,783 | 1,295,268 | 1,111,851 | |||||||
EQUITY & LIABILITIES | |||||||||||
Equity | |||||||||||
Stated Capital | 835,085 | 592,813 | 835,085 | 592,813 | |||||||
Revaluation Reserve | 645,705 | 645,705 | 509,729 | 509,729 | |||||||
Accumulated Losses | (1,078,007) | (1,104,222) | (714,143) | (752,967) | |||||||
Total Equity | 402,783 | 134,296 | 630,671 | 349,575 | |||||||
Non-Current Liabilities | |||||||||||
Interest Bearing Borrowings | 22,415 | 25,540 | 1,286 | 3,290 | |||||||
Lease Creditors | 9,916 | 10,382 | - | - | |||||||
Employee Benefits | 24,369 | 22,932 | 19,413 | 18,264 | |||||||
Total Non Current Liabilities | 56,700 | 58,854 | 20,699 | 21,554 | |||||||
Current Liabilities | |||||||||||
Trade and Other Payables | 172,370 | 149,654 | 89,294 | 63,081 | |||||||
Amounts Due to Related Parties | 2,949 | 3,150 | 2,949 | 3,150 | |||||||
Interest Bearing Borrowings | 838,239 | 941,105 | 511,697 | 643,444 | |||||||
Lease Creditors | 2,644 | 3,318 | - | - | |||||||
Bank Overdraft | 78,141 | 65,406 | 39,958 | 31,047 | |||||||
Total Current Liabilities | 1,094,343 | 1,162,633 | 643,898 | 740,722 | |||||||
Total Liabilities | 1,151,043 | 1,221,487 | 664,597 | 762,276 | |||||||
Total Equity and Liabilities | 1,553,826 | 1,355,783 | 1,295,268 | 1,111,851 | |||||||
Net Assets Per Share | Rs. | 4.24 | Rs. | 3.26 | Rs. | 6.64 | Rs. | 8.49 |
Figures in brackets indicate deductions.
All values are in Rupees '000, unless otherwise stated.
The above figures are subject to audit
These Financial Statements have been prepared in compliance with the requirements of the Companies Act No 07 of 2007.
(Sgd) | ||
…………………….…………….. | ||
Upekha Abeysekera | ||
Chief Financial Officer | ||
The Board of Directors is responsible for the preparation and presentation of the Financial Statements. | ||
Signed for and on behalf of the Board: | ||
(Sgd) | (Sgd) | |
……………………………… | ……………………………… | |
09th November 2022 | A. Hettiarachchy | H.K.P. Jayasuriya |
Colombo | Executive Chairman | Director / CEO |
ACME PRINTING & PACKAGING PLC
STATEMENT OF CHANGES IN EQUITY
For the Period ended 30 th September 2022 | ||||
Group | Stated | Revaluation | Accumulated | Total |
Capital | Reserve | Losses | ||
Rs'000 | Rs'000 | Rs'000 | Rs.'000 | |
Balance as at 1st April 2021 | 592,813 | 530,616 | (845,281) | 278,148 |
Comprehensive Income for the period | ||||
Loss for the period | - | - | (152,275) | (152,275) |
Other Comprehensive income for the Period | - | - | - | - |
Total Comprehensive Income for the Period | - | - | (152,275) | (152,275) |
Balance as at 30th September 2021 | 592,813 | 530,616 | (997,556) | 125,873 |
Balance as at 1st April 2022 | 592,813 | 645,705 | (1,104,222) | 134,296 |
Profit for the Period | - | - | 26,215 | 26,215 |
Right Issue | 242,272 | - | - | 242,272 |
Other Comprehensive income for the Period | - | - | - | - |
Total Comprehensive Income for the Period | 242,272 | - | 26,215 | 268,487 |
Balance as at 30th September 2022 | 835,085 | 645,705 | (1,078,007) | 402,783 |
Company | Stated | Revaluation | Accumulated | Total |
Capital | Reserve | Losses | ||
Rs'000 | Rs'000 | Rs'000 | Rs.'000 | |
Balance as at 1st April 2021 | 592,813 | 459,521 | (615,396) | 436,938 |
Comprehensive Income for the period | ||||
Loss for the period | - | - | (39,700) | (39,700) |
Other Comprehensive income for the Period | - | - | - | - |
Total Comprehensive Income for the Period | - | - | (39,700) | (39,700) |
Balance as at 30th September 2021 | 592,813 | 459,521 | (655,096) | 397,238 |
Balance as at 1st April 2022 | 592,813 | 509,729 | (752,967) | 349,575 |
Profit for the Period | - | - | 38,824 | 38,824 |
Right Issue | 242,272 | - | - | 242,272 |
Other Comprehensive income for the Period | - | - | - | - |
Total Comprehensive Income for the Period | 242,272 | - | 38,824 | 281,096 |
Balance as at 30th September 2022 | 835,085 | 509,729 | (714,143) | 630,671 |
Figures in brackets indicate deductions. |
All values are in Rupees '000, unless otherwise stated.
The above figures are subject to audit
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ACME Printing and Packaging plc published this content on 11 November 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 November 2022 09:31:01 UTC.