Ceylon Tea Brokers : Interim Financial Statement for the Quarter ended 30th June 2022

Ceylon Tea Brokers PLC

Interim Financial Statements

For the Quarter Ended 30th June 2022

		CEYLON TEA BROKERS PLC
Statement of Profit or Loss and Other Comprehensive Income for the Period Ended 30th June
		GROUP				COMPANY
	For the Quarter Ended	Variance		For the Quarter Ended	Variance
	30.06.2022	30.06.2021	%		30.06.2022	30.06.2021	%
	Rs.	Rs.			Rs.	Rs.
Revenue	391,355,172	191,787,248	104%		253,153,562	145,962,503	73%
Operating Expenses	(141,353,173)	(56,490,543)	150%		(26,125,995)	(13,124,697)	99%
Gross Profit	250,001,999	135,296,705	85%		227,027,567	132,837,806	71%
Marketing Expenses	(8,148,251)	(9,097,667)	-10%		(7,107,286)	(8,010,938)	-11%
Administration Expenses	(121,207,449)	(77,104,772)	57%		(101,960,436)	(63,731,151)	60%
Net Finance Expenses	(46,308,089)	(30,230,071)	53%		(31,749,058)	(16,853,216)	88%
Profit Before Taxation			294%				95%
74,338,210	18,864,194		86,210,787	44,242,500
Taxation	(28,562,927)	(13,047,751)	119%		(28,562,927)	(13,047,751)	119%
Profit / (Loss) After Taxation			687%				85%
45,775,283	5,816,443		57,647,860	31,194,749
Other Comprehensive Income/(Loss)	-	-			-	-
Profit / (Loss) for the Period			687%				85%
45,775,283	5,816,443		57,647,860	31,194,749
Earnings / (Loss) Per Share	0.25	0.03			0.32	0.17

figures in brackets indicate deductions.

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CEYLON TEA BROKERS PLC

Statement of Changes in Equity

For the Period Ended 30th June

	Stated		Revaluation	Retained			Total
	Capital		Reserve	Earnings
GROUP	Rs.		Rs.	Rs.			Rs.
Balance as at 01.04.2021	333,200,000	-	97,824,452	431,024,452
Profit for the period ended 30.06.2021	-	-	5,816,443	5,816,443
Dividend Paid	-	-	(63,840,000)	(63,840,000)
Balance as at 30.06.2021	333,200,000		-	39,800,895		373,000,895
Balance as at 01.04.2022	333,200,000	129,759,524	47,391,079	510,350,603
Profit for the period ended 30.06.2022	-	-	45,775,283	45,775,283
Balance as at 30.06.2022	333,200,000		129,759,524	93,166,362		556,125,886
COMPANY
Balance as at 01.04.2021	333,200,000	-	300,243,668	633,443,668
Profit for the period ended 30.06.2021	-	-	31,194,749	31,194,749
Dividend Paid	-	-	(63,840,000)	(63,840,000)
Balance as at 30.06.2021	333,200,000		-	267,598,417		600,798,417
Balance as at 01.04.2022	333,200,000	-	341,804,020	675,004,020
Profit for the period ended 30.06.2022	-	-	57,647,860	57,647,860
Balance as at 30.06.2022	333,200,000		-	399,451,880			732,651,880

figures in brackets indicate deductions.

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CEYLON TEA BROKERS PLC

Statement of Cash Flows

For the Period Ended 30th June

	GROUP			COMPANY
	30.06.2022	30.06.2021		30.06.2022	30.06.2021
	Rs.	Rs.		Rs.	Rs.
Cash Flow From Operating Activities
Profit Before Taxation	74,338,210	18,864,194		86,210,787	44,242,500
Adjustments for ;
Depreciation/Amortisation	27,557,992	17,370,836		6,371,292	5,800,118
Interest Income	(7,578,693)	(401,116)		(7,399,402)	(388,098)
Interest Expense	54,015,262	31,524,079		39,831,625	18,322,183
Disposal (Profit)/Loss on Property,Plant and Equipment	(42,120)	(37,270)		(42,120)	-
Provision for Retirement Benefit Obligation	1,800,000	1,800,000		1,500,000	1,500,000
Provision for Bad and Doubtful Debt	4,500,000	6,000,000		4,500,000	6,000,000
Cash Generated from/(Used In)Operating Activities Before
Working Capital Changes	154,590,651	75,120,723		130,972,182	75,476,702
Increase/Decrease in Working Capital
(Increase)/ Decrease in Trade and Other Receivables	(189,383,755)	(36,510,584)		(157,189,633)	(27,496,434)
Loans & Advances (Disburstments)/Recoveries From (To) Tea
Suppliers	(29,632,587)	27,231,392		(29,632,587)	27,231,392
Increase/(Decrease) in Trade and Other Payables	222,542,499	(42,127,278)		202,381,159	(15,567,344)
(Increase)/Decrease in Related Party Receivable	-	-		565,942	(67,664,208)
Cash Generated from/(Used In) Operating Activities	158,116,807	23,714,254		147,097,064	(8,019,891)
Tax Paid	(7,500,000)	(10,080,000)		(7,500,000)	(10,080,000)
Gratuity Paid	(164,000)	(120,375)		(164,000)	(120,375)
Net Cash Generated from/(Used In) Operating Activities	150,452,807	13,513,879		139,433,064	(18,220,266)
Cash Flow From Investing Activities
Interest Received	7,460,476	294,614		7,281,185	281,596
Proceeds from sale of Assets	42,120	389,426		42,120	99,341
Investment made during the year	(506,315,093)	-		(506,315,093)	-
Purchase of Property, Plant & Equipment	(2,524,489)	(2,641,874)		(2,094,589)	(650,408)
Net Cash Generated from/(Used In) Investing Activities	(501,336,986)	(1,957,834)		(501,086,376)	(269,471)
Cash Flow From Financing Activities
Interest Paid	(53,332,104)	(30,222,934)		(39,148,460)	(17,192,714)
Lease Payments	(11,420,522)	(6,022,014)		(5,986,705)	(5,476,140)
Dividend Paid	-	(63,840,000)		-	(63,840,000)
Movement in Interest Bearing Borrowings
Loan repayment made during the period	(310,971,262)	(755,751,113)		(296,961,635)	(617,294,286)
Loan obtained during the period	290,000,000	806,784,058		290,000,000	681,784,058
Net Cash Generated from/(Used In) Financing Activities	(85,723,888)	(49,052,002)		(52,096,800)	(22,019,082)
Net Decrease in Cash and Cash Equivalents	(436,608,069)	(37,495,961)		(413,750,110)	(40,508,816)
Cash and Cash Equivalents at the Beginning of the Period	(1,886,320)	20,968,907		(723,821)	57,776,716
Cash and Cash Equivalents at the End of the Period
(438,494,391)	(16,527,054)	(414,473,931)	17,267,900

figures in brackets indicate deductions.

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