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.