Colombo Fort Investments PLC

Company No PQ 100

Interim Financial Statements for the Quarter Ended

31st December, 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

Nine months

Nine months

ended

ended

ended

Variance

ended

ended

Variance

31.03.2022

31.12.2022

31.12.2021

%

31.12.2022

31.12.2021

%

Rs.'000

Rs.'000

Rs.'000

Rs.'000

Rs.'000

41,227

Revenue

2,027

18,416

-89

25,173

25,245

-0

1,024

Other Income

-

759

-100

7,932

759

+945

42,251

2,027

19,175

-89

33,105

26,004

+27

(3,782)

Administrative Expenses

(1,221)

(737)

-66

(3,719)

(2,770)

-34

17,956

Fair Value changes on Financial Assets

36,398

56,026

-35

78,823

113,617

-31

(276)

Other Expenses

(559)

(30)

-1,763

(759)

(36)

-2,008

56,149

Profit / (Loss) from Operating Activities

36,645

74,434

-51

107,450

136,815

-21

(1,618)

Finance Costs

-

(333)

+100

(1,426)

(1,311)

-9

54,531

Profit / (Loss) Before Income Tax Expense

36,645

74,101

-51

106,024

135,504

-22

(3,675)

Income Tax Expense

(100)

(2,207)

+95

(1,774)

(2,583)

+31

50,856

Profit / (Loss) for the period

36,545

71,894

-49

104,250

132,921

-22

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

(176,538)

434,733

-141

595,256

326,472

+82

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

58

at Fair Value through Other Comprehensive Income

-

(11)

+100

-

(11)

+100

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

(39)

through Other Comprehensive Income

-

(4)

+100

-

(4)

+100

Total Other Comprehensive Income /

(255,906)

(Expense) for the period

(176,538)

434,718

-141

595,256

326,457

+82

Total Comprehensive Income /

(205,050)

(Expense) for the period

(139,993)

506,612

-128

699,506

459,378

+52

5.91

Earnings / (Loss) per share (Rs.)

4.47

9.93

12.76

18.36

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

31.12.2022

31.12.2021

Rs.'000

Rs.'000

Rs.'000

ASSETS

Non-current Assets

Financial Assets at Fair Value through Other

842,380

Comprehensive Income

1,459,762

1,421,044

842,380

Total Non Current Assets

1,459,762

1,421,044

Current Assets

286,357

Financial Assets at Fair Value through Profit or Loss

427,432

368,330

6,274

Receivables

700

97

81

Prepayments

-

-

1,482

Amounts Due From Related Party

1,482

1,771

7,230

Cash & Cash Equivalents

4,904

7,338

301,424

Total Current Assets

434,518

377,536

1,143,804

Total Assets

1,894,280

1,798,580

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

1,145,407

1,132,479

334,587

Retainted Earnings

427,871

416,704

1,123,370

Total Equity

1,893,155

1,787,815

Non - Current Liabilities

-

Interest Bearing Borrowing

-

-

-

Total Non- Current Liabilities

-

-

Current Liabilities

17,756

Trade & Other Payables

234

8,782

36

Dividends Payable

36

88

2,642

Income Tax Liability

855

1,895

20,434

Total Current Liabilities

1,125

10,765

20,434

Total Liabilities

1,125

10,765

1,143,804

Total Equity & Liabilities

1,894,280

1,798,580

130.47

Net Asset per Share (Rs.)

219.88

207.64

For and on behalf of the Board

(Sgd.) S.D.R.Arudpragasam

(Sgd.) S. Shanmugalingam

Director

Director

08th February, 2023

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

-

-

-

132,921

132,921

Other Comprehensive Income / (Expense)

-

-

326,461

-

326,461

Profit / (Loss) on disposal of FVOCI

-

-

-

(4)

(4)

Transfer of realised gains on disposal of

Financial Assets at FVOCI

-

-

-

11

11

213,840

16,500

1,132,479

424,996

1,787,815

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 31.12.2021

222,132

16,500

1,132,479

416,704

1,787,815

Balance as at 01.04.2022

222,132

16,500

550,151

334,587

1,123,370

Profit / (Loss) for the period

-

-

-

104,250

104,250

Other Comprehensive Income / (Expense)

-

-

595,256

-

595,256

222,132

16,500

1,145,407

438,837

1,822,876

Transactions with owners of the Company

recognised directly in equity

-

-

-

-

-

Rights Issue of Ordinary Shares

71,179

-

-

-

71,179

Rights Issue Expenses

-

-

-

(900)

(900)

Scrip dividend - First & Final for the

year ended 31.03.2022

10,066

-

-

(10,066)

-

Balance as at 31.12.2022

303,377

16,500

1,145,407

427,871

1,893,155

04

COLOMBO FORT INVESTMENTS PLC

Company No : PQ 100

STATEMENT OF CASH FLOWS

Audited

Unaudited

Unaudited

As at

Nine months

Nine months

31.03.2022

ended

ended

Rs.'000

31.12.2022

31.12.2021

Rs.'000

Rs.'000

CASH FLOW FROM OPERATING ACTIVITIES

56,149

Profit / (Loss) before Interest and Tax

107,451

136,815

Adjustments for ;

(17,956)

Fair Value changes on Financial Assets

(78,823)

(113,617)

(1,009)

Profit / (Loss) on Disposal of Financial Assests

(7,933)

(759)

(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

15,959

18,617

Changes in Working Capital

(895)

(Increase) / Decrease in

Receivables

5,574

5,282

-

(Increase) / Decrease in

Prepayments

81

81

304

(Increase) / Decrease in Amounts Due from Related Party

-

-

(1,883)

Increase / (Decrease) in Trade & Other Payables

(17,522)

(10,857)

30,588

Cash generated from / (Used in) Operating Activities

4,092

13,123

(2,154)

Tax paid

(3,561)

(1,810)

(1,618)

Interest Paid

(1,426)

(1,311)

26,816

Net Cash Flows from / (used in) Operating Activities

(895)

10,002

CASH FLOWS FROM INVESTING ACTIVITIES

(31,718)

Acquisition of Financial Assets

(87,478)

(12,696)

9,456

Proceeds from Disposal of Financial Assets

15,768

7,356

(22,262)

Net Cash Flows from / (used in) Investing Activities

(71,710)

(5,340)

CASH FLOWS FROM FINANCING ACTIVITIES

Proceeds from Rights Issue

71,179

-

Rights Issue Expenses

(900)

-

Net cash Flows from / (used in) Financing Activities

70,279

-

4,554

Net Increase/[Decrease] in Cash & Cash Equivalents

(2,326)

4,662

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]

4,904

7,338

Note A: Cash & Cash Equivalents

7,230

Cash at bank

4,904

7,338

4,904

7,338

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Colombo Fort Investments plc published this content on 09 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 February 2023 11:19:51 UTC.