Browns Beach Hotels PLC
Interim Financial Statement - 3rd Quarter
(For the Nine Months ended 31st December 2021)
Consolidated Income Statement
Browns Beach Hotels PLC
Quarter ended | Nine months ended | |||
31st December | 31st December | |||
2021 | 2020 | 2021 | 2020 | |
Rs. '000 | Rs. '000 | Rs. '000 | Rs. '000 | |
Revenue | 130,059 | 10,487 | 209,803 | 39,814 |
Revenue tax | - | - | - | - |
Net revenue | 130,059 | 10,487 | 209,803 | 39,814 |
Other income | 133 | 4,675 | 179 | 20,935 |
Staff cost | (31,829) | (22,225) | (86,304) | (58,313) |
Depreciation | (54,811) | (57,330) | (164,794) | (172,038) |
Amortisation | (78) | (78) | (232) | (234) |
Other operating expenses - Direct | (31,408) | (4,081) | (43,669) | (13,218) |
Other operating expenses - Indirect | (49,183) | (21,525) | (117,247) | (92,446) |
Loss from operations | (37,117) | (90,077) | (202,264) | (275,500) |
Finance income | 2,805 | 825 | 8,571 | 2,748 |
Finance expenses | (71,100) | (67,313) | (189,036) | (238,908) |
Net finance expense | (68,295) | (66,488) | (180,465) | (236,160) |
Loss before taxation | (105,412) | (156,565) | (382,729) | (511,660) |
Income tax expense | - | (1,089) | (61) | (2,236) |
Loss for the period | (105,412) | (157,654) | (382,790) | (513,896) |
Attributable to: | ||||
Equity holders of the parent company | (105,412) | (157,654) | (382,790) | (513,896) |
Non-controlling interest | - | - | - | - |
(105,412) | (157,654) | (382,790) | (513,896) | |
Loss per share for the period ( Rs.) | (0.81) | (1.22) | (2.95) | (3.97) |
(Basic / diluted) |
The above figures are provisional and subject to audit.
1
Company Income Statement
Browns Beach Hotels PLC
Quarter ended | Nine months ended | |||
31st December | 31st December | |||
2021 | 2020 | 2021 | 2020 | |
Rs. '000 | Rs. '000 | Rs. '000 | Rs. '000 | |
Revenue | - | - | - | - |
Other income | 3,806 | 3,806 | 11,417 | 11,417 |
Staff costs | - | - | - | - |
Amortisation | (78) | (78) | (232) | (234) |
Other operating expenses - Direct | - | - | - | - |
Other operating expenses - Indirect | (540) | (419) | (2,814) | (2,825) |
Profit from operations | 3,188 | 3,309 | 8,371 | 8,358 |
Finance income | - | - | - | - |
Finance expenses | (666) | (686) | (1,936) | (1,996) |
Net finance expense | (666) | (686) | (1,936) | (1,996) |
Profit before taxation | 2,522 | 2,623 | 6,435 | 6,362 |
Income tax expense | - | (891) | (61) | (1,527) |
Profit for the period | 2,522 | 1,732 | 6,374 | 4,835 |
Earnings per share for the period ( Rs.) | 0.02 | 0.01 | 0.05 | 0.04 |
(Basic / diluted) |
The above figures are provisional and subject to audit.
2
Statement of Comprehensive Income - Group
Browns Beach Hotels PLC
Quarter ended | Nine months ended | |||
31st December | 31st December | |||
2021 | 2020 | 2021 | 2020 | |
Rs. '000 | Rs. '000 | Rs. '000 | Rs. '000 | |
Loss for the period | (105,412) | (157,654) | (382,790) | (513,896) |
Other comprehensive income | ||||
Net change in fair value of FVOCI financial assets | - | - | - | - |
Actuarial gains/(losses) on defined benefit obligations | - | - | - | - |
Total comprehensive loss for the period | (105,412) | (157,654) | (382,790) | (513,896) |
Attributable to: | ||||
Equity holders of the parent company | (105,412) | (157,654) | (382,790) | (513,896) |
Non-controlling interests | - | - | - | - |
(105,412) | (157,654) | (382,790) | (513,896) | |
Statement of Comprehensive Income - Company
Quarter ended | Nine months ended | |||
31st December | 31st December | |||
2021 | 2020 | 2021 | 2020 | |
Rs. '000 | Rs. '000 | Rs. '000 | Rs. '000 | |
Profit for the period | 2,522 | 1,732 | 6,374 | 4,835 |
Other comprehensive income | ||||
Net change in fair value of FVOCI financial assets | - | - | - | - |
Total comprehensive income for the period | 2,522 | 1,732 | 6,374 | 4,835 |
The above figures are provisional and subject to audit.
3
Consolidated Statement of Financial Position
Browns Beach Hotels PLC
As at | 31.12.2021 | 31.12.2020 | 31.03.2021 |
Rs.'000 | Rs. '000 | Rs. '000 | |
ASSETS | |||
Non-current assets | |||
Property, plant and equipment | 5,051,630 | 5,171,938 | 5,215,566 |
Right of use asset | 2,527 | 2,837 | 2,759 |
5,054,157 | 5,174,775 | 5,218,325 | |
Current assets | |||
Inventories | 21,008 | 17,001 | 15,323 |
Trade and other receivables | 46,143 | 3,122 | 26,041 |
Deposits and prepayments | 16,252 | 21,925 | 19,281 |
Amount due from related parties | 4,432 | 1,291 | 1,478 |
Cash and cash equivalent | 245,680 | 222,485 | 185,784 |
333,515 | 265,824 | 247,907 | |
TOTAL ASSETS | 5,387,672 | 5,440,599 | 5,466,232 |
EQUITY AND LIABILITIES | |||
Equity attributable to equity holders of the parent | |||
Stated capital | 2,383,449 | 2,383,449 | 2,383,449 |
Revaluation reserve | 1,074,307 | 984,307 | 1,074,307 |
General reserve | 10,000 | 10,000 | 10,000 |
Retained earnings | (2,556,937) | (2,029,095) | (2,174,147) |
910,819 | 1,348,661 | 1,293,609 | |
Non controlling interest | - | - | - |
Total Equity | 910,819 | 1,348,661 | 1,293,609 |
Non-current liabilities | |||
Interest bearing liabilities-loans | 3,435,712 | 2,931,818 | 3,224,273 |
Interest bearing liabilities-leases | 20,333 | 19,424 | 18,390 |
Deferred tax liability | 224,849 | 176,896 | 224,849 |
Employee benefits | 11,191 | 8,507 | 10,564 |
3,692,085 | 3,136,645 | 3,478,076 | |
Current liabilities | |||
Trade and other payables | 119,000 | 486,629 | 76,366 |
Amount due to related companies | 67,692 | 12,362 | 99,520 |
Interest bearing liabilities-loans | 313,599 | 291,540 | 351,102 |
Interest bearing liabilities-leases | 2,548 | 2,825 | 2,555 |
Income tax payable | 3,835 | 4,294 | 3,657 |
Bank overdraft | 278,094 | 157,643 | 161,347 |
784,768 | 955,293 | 694,547 | |
Total liabilities | 4,476,853 | 4,091,938 | 4,172,623 |
TOTAL EQUITY AND LIABILITIES | 5,387,672 | 5,440,599 | 5,466,232 |
Net asset value per share (Rs.) | 7.03 | 10.41 | 9.98 |
The above figures are provisional and subject to audit.
The chief financial officer certifies that the financial statements have been prepared in compliance with the requirements of the Companies Act No 07 of 2007.
The Board of Directors is responsible for the preparation of these financial statements.
sgd.
Mr. C.M.S. Jayawickrama
Joint Managing Director - Managing Agent
sgd. | sgd. |
Deshamanya D. H. S. Jayawardena | Dr. M.P. Dissanayake |
Chairman | Director |
Colombo | |
11th February 2022 | 4 |
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Browns Beach Hotels plc published this content on 14 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 February 2022 09:32:02 UTC.