Colombo Fort Investments PLC

Company No PQ 100

Interim Financial Statements for the Quarter Ended

30th September, 2022

01

COLOMBO FORT INVESTMENTS PLC

Company No PQ 100

STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

Audited

Unaudited

Unaudited

Unaudited

Unaudited

Year

Quarter

Quarter

Six months

Six months

ended

ended

ended

Variance

ended

ended

Variance

31.03.2022

30.09.2022

30.09.2021

%

30.09.2022

30.09.2021

%

Rs.'000

Rs.'000

Rs.'000

Rs.'000

Rs.'000

41,227

Revenue

19,477

3,422

+469

23,146

6,828

+239

1,024

Other Income

7,933

-

+100

7,933

-

+100

42,251

27,410

3,422

+701

31,079

6,828

+355

(3,782)

Administrative Expenses

(1,491)

(1,142)

-31

(2,498)

(2,033)

-23

17,956

Fair Value changes on Financial Assets

109,792

(26,427)

+515

42,425

57,592

-26

(276)

Other Expenses

(166)

(3)

-5,433

(200)

(7)

-2,757

56,149

Profit / (Loss) from Operating Activities

135,545

(24,150)

+661

70,806

62,380

+14

(1,618)

Finance Costs

(680)

(479)

-42

(1,426)

(978)

-46

54,531

Profit / (Loss) Before Income Tax Expense

134,865

(24,629)

+648

69,380

61,402

+13

(3,675)

Income Tax Expense

(1,359)

(92)

-1,377

(1,674)

(376)

-345

50,856

Profit / (Loss) for the period

133,506

(24,721)

+640

67,706

61,026

+11

Other Comprehensive Income

Items that will not to be reclassified to Profit or Loss

- Profit / (Loss) on changes in Fair Value on Financial Assets

(255,925) at Fair Value through Other Comprehensive Income

864,813

(74,826)

+1,256

771,794

(108,261)

+813

  • Reserve movement due to conversion of Warrants
  • Transfer of realised gains on disposal of Financial Assets

58

at Fair Value through Other Comprehensive Income

-

-

-

-

-

-

- Profit / (Loss) on diposal of Financial Assets at Fair Value

(39)

through Other Comprehensive Income

-

-

-

-

-

-

Total Other Comprehensive Income /

(255,906)

(Expense) for the period

864,813

(74,826)

+1,256

771,794

(108,261)

+813

Total Comprehensive Income /

(205,050)

(Expense) for the period

998,319

(99,547)

+1,103

839,500

(47,235)

+1,877

5.91

Earnings / (Loss) per share (Rs.)

15.51

(2.87)

7.86

7.09

1.20

Dividend proposed per share

-

-

-

-

02

COLOMBO FORT INVESTMENTS PLC

Company No PQ 100

STATEMENT OF FINANCIAL POSITION

Audited

Unaudited

Unaudited

As at

As at

As at

31.03.2022

30.09.2022

30.09.2021

Rs.'000

Rs.'000

Rs.'000

ASSETS

Non-current Assets

Financial Assets at Fair Value through Other

842,380

Comprehensive Income

1,636,868

986,381

842,380

Total Non Current Assets

1,636,868

986,381

Current Assets

286,357

Financial Assets at Fair Value through Profit or Loss

341,154

309,848

6,274

Receivables

238

127

81

Prepayments

27

27

1,482

Amounts Due From Related Party

1,482

1,770

7,230

Cash & Cash Equivalents

55,689

212

301,424

Total Current Assets

398,590

311,984

1,143,804

Total Assets

2,035,458

1,298,365

EQUITY & LIABILITIES

Equity

222,132

Stated Capital

303,377

222,132

16,500

General Reserve

16,500

16,500

550,151

Fair Value Reserve of Financial Assets at FVOCI

1,321,945

697,757

334,587

Retainted Earnings

392,227

344,802

1,123,370

Total Equity

2,034,049

1,281,191

Non - Current Liabilities

-

Interest Bearing Borrowing

-

-

-

Total Non- Current Liabilities

-

-

Current Liabilities

17,756

Trade & Other Payables

159

17,054

36

Dividends Payable

36

88

2,642

Income Tax Liability

1,214

32

20,434

Total Current Liabilities

1,409

17,174

20,434

Total Liabilities

1,409

17,174

1,143,804

Total Equity & Liabilities

2,035,458

1,298,365

130.47

Net Asset per Share (Rs.)

236.24

148.80

For and on behalf of the Board

(Sgd.) S.D.R.Arudpragasam

(Sgd.) S. Shanmugalingam

Director

Director

03rd November, 2022

03

COLOMBO FORT INVESTMENTS PLC

Company No. PQ 100

STATEMENT OF CHANGES IN EQUITY

Stated

General

Fair Value

Retained

Total

Capital

Reserve

Reserve of

Earnings

Equity

Financial Assets

at FVOCI

Rs.'000

Rs.'000

Rs.'000

Rs.'000

Rs.'000

Balance as at 01.04.2021

213,840

16,500

806,018

292,068

1,328,426

Profit / (Loss) for the period

-

-

-

61,026

61,026

Other Comprehensive Income / (Expense)

-

-

(108,261)

-

(108,261)

213,840

16,500

697,757

353,094

1,281,191

Transactions with owners of the Company

recognised directly in equity

-

-

-

-

-

Scrip dividend - First & Final for the

year ended 31.03.2021

8,292

-

-

(8,292)

-

Balance as at 30.09.2021

222,132

16,500

697,757

344,802

1,281,191

Balance as at 01.04.2022

222,132

16,500

550,151

334,587

1,123,370

Profit / (Loss) for the period

-

-

-

67,706

67,706

Other Comprehensive Income / (Expense)

-

-

771,794

-

771,794

222,132

16,500

1,321,945

402,293

1,962,870

Transactions with owners of the Company

recognised directly in equity

-

-

-

-

-

Rights Issue of Ordinary Shares

71,179

-

-

-

71,179

Scrip dividend - First & Final for the

year ended 31.03.2022

10,066

-

-

(10,066)

-

Balance as at 30.09.2022

303,377

16,500

1,321,945

392,227

2,034,049

04

COLOMBO FORT INVESTMENTS PLC

Company No : PQ 100

STATEMENT OF CASH FLOWS

Audited

Unaudited

Unaudited

As at

Quarter

Quarter

31.03.2022

ended

ended

Rs.'000

30.09.2022

30.09.2021

Rs.'000

Rs.'000

CASH FLOW FROM OPERATING ACTIVITIES

56,149

Profit / (Loss) before Interest and Tax

70,806

62,380

Adjustments for ;

(17,956)

Fair Value changes on Financial Assets

(42,425)

(57,592)

(1,009)

Profit / (Loss) on Disposal of Financial Assests

(7,933)

-

(4,107)

Dividend received as Scrip Dividend

(4,736)

(3,822)

(15)

Provision for Impairment of Amounts due from Related Party

-

-

33,062

Profit before Working Capital Changes

15,712

966

Changes in Working Capital

(895)

(Increase) / Decrease in

Receivables

6,036

5,252

-

(Increase) / Decrease in

Prepayments

54

54

304

(Increase) / Decrease in Amounts Due from Related Party

-

-

(1,883)

Increase / (Decrease) in Trade & Other Payables

(17,597)

(2,586)

30,588

Cash generated from / (Used in) Operating Activities

4,205

3,686

(2,154)

Tax paid

(3,101)

(1,465)

(1,618)

Interest Paid

(1,426)

(978)

26,816

Net Cash Flows from / (used in) Operating Activities

(322)

1,243

CASH FLOWS FROM INVESTING ACTIVITIES

(31,718)

Acquisition of Financial Assets

(38,166)

(3,707)

9,456

Proceeds from Disposal of Financial Assets

15,768

-

(22,262)

Net Cash Flows from / (used in) Investing Activities

(22,398)

(3,707)

CASH FLOWS FROM FINANCING ACTIVITIES

Proceeds from Rights Issue

71,179

-

-

Net cash Flows from / (used in) Financing Activities

71,179

-

4,554

Net Increase/[Decrease] in Cash & Cash Equivalents

48,459

(2,464)

2,676

Cash & Cash Equivalents at the beginning of the year

7,230

2,676

7,230

Cash & Cash Equivalents at the end of year [Note A]

55,689

212

Note A: Cash & Cash Equivalents

7,230

Cash at bank

55,689

212

55,689

212

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Colombo Fort Investments plc published this content on 04 November 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 November 2022 10:51:03 UTC.