John Keells : Errata to the Interim Financial Statements as of 31-03-2022

John Keells PLC

186, Vauxhall Street, Colombo 2, Sri Lanka

Tel [phone] or 2 306 000 Fax [phone]

E-mail: [e-mail] Website: www. johnkeellstea.com

(Company Number: PQ 11)

May 24, 2022

Mr. Renuka Wijayawardhane

Chief Regulatory Officer

Colombo Stock Exchange

Level 4-1, West Tower,

World Trade Centre

Colombo 1

Dear Sir,

ERRATA - INTERIM FINANCIAL STATEMENTS OF JOHN KEELLS PLC (PQ 11) FOR THE QUARTER ENDED MARCH 31, 2022

We refer to the above which was uploaded on 23rd May 2022, which due to printing errors, changes have been made to pages 7 to 13 and pages 15 and 16. We have attached the corrected Financial Statements herewith.

We sincerely regret any inconvenience caused in this regard.

Yours faithfully,

JOHN KEELLS PLC

Devika Weerasinghe

Chief Financial Officer

A John Keells Group Company

John Keells Group - Confidential

John Keells PLC

Interim Financial Statements 31st March 2022

John Keells Group - Confidential

John Keells PLC

CONSOLIDATED

INCOME STATEMENT

	Quarter ended 31st March	Year ended 31st March
For the year ended 31st March	2022	2021	Change %	2022	2021	Change %
Continuing operations
Services transferred over time	264,015	292,291	(10)	946,167	828,218	14
Revenue from contracts with customers	264,015	292,291	(10)	946,167	828,218	14
Cost of sales	(89,077)	(96,229)	7	(354,208)	(308,638)	(15)
Gross profit	174,938	196,062	(11)	591,959	519,580	14
Other operating income	1,600	1,435	12	3,198	2,094	53
Distribution expenses	(54,011)	(4,288)	(1,159)	(49,556)	14,512	(441)
Administrative expenses	(58,867)	(52,413)	(12)	(240,425)	(205,711)	(17)
Results from operating activities	63,660	140,796	(55)	305,176	330,475	(8)
Finance costs	(7,735)	(6,188)	(25)	(32,074)	(34,217)	6
Finance income	31,754	25,921	23	63,264	45,897	38
Net finance (costs) / income	24,019	19,733	22	31,190	11,680	(167)
Changes in fair value of investment properties	30,195	15,085	100	30,195	15,085	100
Share of results of equity-accounted investees	10,794	188	5,642	10,896	1,292	743
Profit before tax	128,668	175,802	(27)	377,457	358,532	5
Tax expense	(51,927)	(35,495)	(46)	(111,373)	(74,149)	(50)
Profit for the period	76,741	140,307	(45)	266,084	284,383	(6)
Attributable to :
Equity holders of the parent	64,060	122,174	(48)	229,577	254,185	(10)
Non-controlling interests	12,681	18,133	(30)	36,507	30,198	21
	76,741	140,307	(45)	266,084	284,383	(6)
Earnings per share	Rs.	Rs.		Rs.	Rs.
Basic	1.05	2.01		3.78	4.18
Dividend per share	-	-		2.29	1.00
Note: All values are in Rupees '000s, unless otherwise stated.
Figures in brackets indicate deductions.
The above figures are not audited.
						1

John Keells Group - Confidential

John Keells PLC

CONSOLIDATED STATEMENT OF

COMPREHENSIVE INCOME

	Quarter ended 31st March	Year ended 31st March
For the year ended 31st March	2022	2021	2022	2021
Profit for the period	76,741	140,307	266,084	284,383
Other comprehensive income
Other comprehensive income not to be reclassified to income statement in subsequent periods
Net (Loss)/gain on equity instruments at fair value through other comprehensive income	162,679	198,148	65,733	141,742
Revaluation of buildings on leasehold land	41,668	14,132	41,668	14,132
Re-measurement gain /(loss) on defined benefit plans	304	(3,048)	304	(3,048)
Net other comprehensive income not to be reclassified to income statement in subsequent periods	204,651	209,232	107,705	152,826
Tax on other comprehensive income	(24,604)	(16,685)	(15,682)	(2,862)
Other comprehensive income for the period, net of tax	180,047	192,547	92,023	149,964
Total comprehensive income for the period, net of tax	256,788	332,854	358,107	434,347
Attributable to :
Equity holders of the parent	244,107	314,721	321,600	404,149
Non-controlling interests	12,681	18,133	36,507	30,198
	256,788	332,854	358,107	434,347

Note: All values are in Rupees '000s, unless otherwise stated.

Figures in brackets indicate deductions.

The above figures are not audited.

2

John Keells Group - Confidential

John Keells PLC

CONSOLIDATED

STATEMENT OF FINANCIAL POSITION

As at	31.03.2022	31.03.2021
ASSETS
Non-current assets
Property, plant and equipment	399,415	352,767
Right of use asset	32,579	33,668
Investment property	423,980	393,785
Intangible assets	8,294	4,405
Investments in associates	109,238	100,958
Non-current financial assets	3,240,117	3,256,930
Other non-current assets	5,390	6,973
Deferred tax assets	7,313	12,267
	4,226,326	4,161,753
Current assets
Inventories	1,122	1,419
Trade and other receivables	1,135,030	7,122,744
Amounts due from related parties	6,951	1,506
Short term investments	485,375	481,499
Other current assets	33,979	3,052
Cash in hand and at bank	190,657	76,308
	1,853,114	7,686,528
Total assets	6,079,440	11,848,281
EQUITY AND LIABILITIES
Attributable to equity holders of the parent
Stated capital	152,000	152,000
Revenue reserves	2,887,474	2,797,294
Other components of equity	1,285,531	1,187,410
	4,325,005	4,136,704
Non-controlling interests	76,588	57,022
Total equity	4,401,593	4,193,726
Non-current liabilities
Deferred tax liabilities	97,215	82,358
Employee benefit liabilities	77,415	92,281
	174,630	174,639
Current liabilities
Trade and other payables	1,133,019	7,084,324
Amounts due to related parties	9,035	26,605
Income tax payable	35,353	41,293
Other current liabilities	3,865	3,305
Short term borrowings	3,970	10,000
Bank overdrafts	317,975	314,389
	1,503,217	7,479,916
Total equity and liabilities	6,079,440	11,848,281
	Rs.	Rs.
Net assets per share	71.13	68.04

Note: All values are in Rupees '000s, unless otherwise stated.

The above figures are not audited.

I certify that the financial statements comply with the requirements of the Companies Act No.7 of 2007.

K.D.Weerasinghe

Chief Financial Officer

The Board of Directors is responsible for these financial statements.

K.N.J.Balendra	J.G.A.Cooray
Chairman	Director

23rd May, 2022

John Keells Group - Confidential