Richard Pieris Exports : Interim Financial Statement Second Quater -2022 -RPE

Richard Pieris Exports PLC

Interim Financial Statements

Six Months ended 30th September 2022

Consolidated Statement of Financial Position

ASSETS

Non-current Assets

Property, Plant & Equipment Investment in Associate

Investment Property - Right of use asset Right of use asset

Advance Payment for Investment Deferred Tax Asset

Discontinued Operations

Assets of Arpico Natural Latex Foams (Pvt ) Ltd

Current Assets

Inventories

Trade & Other Receivables

Short Term Investment

Amounts Due from Related Parties

Cash and Bank Balances

As at 30th September	As at 31st March
2022	2022
Rs. 000	Rs. 000
2,051,360	1,705,284
424,877	346,132
352,599	352,599
132,039	133,719
57,363	57,363
1,153	2,240
3,019,391	2,597,337
-	-
1,613,394	752,757
2,643,819	2,126,232
470,929	448,788
198,119	58,327
1,347,392	1,761,802

		6,273,653	5,147,906
	Total Assets
	9,293,044	7,745,243
	EQUITY AND LIABILITIES
	Stated Capital	220,262	220,262
	Revenue Reserves	3,709,370	2,899,207
	Foreign Currency Translation	345,665	255,338
	Equity Attributable to Equity Holders of the Parent
	4,275,297	3,374,807
	Non Controlling Interest	1,635,405	1,529,830
	Total Equity
	5,910,702	4,904,637
	Non-Current Liabilities
	Interest Bearning Loans and Borrowings	125,000	150,000
	Deferred Tax Liabilities	85,855	88,134
	Retirement Benefit Obligation	120,568	115,260
	Lease Instalments Payable After One Year	138,057	135,057
	Discontinued Operations	469,480	488,451
	Liabilities of Arpico Natural Latex Foams (Pvt ) Ltd
		226,975	226,944
	Current Liabilities
	Trade and Other Payables	351,303	775,946
	Income Tax Payable	154,305	88,366
	Amounts Due to Related Parties	924,599	330,767
	Lease Instalments Payable In the Ensuing Year	14,449	14,448
	Interest Bearing Loans & Borrowings	1,241,231	915,684
		2,685,887	2,125,211
	Total Liabilities
	3,382,342	2,840,606
	Total Equity and Liabilities
	9,293,044	7,745,243
	The above figures are subject to audit	-

I certify that the above Financial Statements have been prepared in compliance with the requirments of the Companies Act No. 07 of 2007.

		…………………………………………..
		Palika Chandrajeewa
		Chief Finance Officer -Exports Sector
	The Board of Directors is responsible for the preparation and presentation of these Financial Statements.
		of the Board on 14th November 2022 in Colombo.
	Approved and Signed for and on behalf
	……………………………….	…………………………….
	W.R.Abeysirigunawardena	W.J. Viville P. Perera
	Director	Director

Company Statement of Financial Position

	As at 30th September	As at 31st March
	2022	2022
	Rs. 000	Rs. 000
ASSETS
Non-current Assets
Property, Plant & Equipment	129,034	103,140
Long Term Investments	463,023	463,023
Deferred Tax Asset	1,153	2,240
	593,210	568,403
Current Assets

Inventories

Trade & Other Receivables Other Current Financial Assets Amounts Due from Related Parties Cash and Bank Balances

Total Assets

EQUITY AND LIABILITIES

Stated Capital

Revenue Reserves

Total Equity

Non-Current Liabilities

Retirement Benefit Obligation

Current Liabilities

Trade and Other Payables Income Tax Payable

Amounts Due to Related Parties

Total Liabilities

Total Equity and Liabilities

502,148249,386

1,155,166969,282

464,536441,824

66,2133,475

962,432993,948

3,150,4952,657,915

3,743,7053,226,318

220,262220,262

3,068,7802,327,789

3,289,0422,548,051

80,33077,798

80,33077,798

162,452232,508

113,03378,035

98,848289,926

374,333600,469

454,663678,267

3,743,7053,226,318

The above figures are subject to audit

I certify that the above Financial Statements have been prepared in compliance with the requirments of the Companies Act No. 07 of 2007.

…………………………………………..

Palika Chandrajeewa

Chief Finance Officer -Exports Sector

The Board of Directors is responsible for the preparation and presentation of these Financial Statements.

Approved and Signed for and on behalf of the Board on 14th November 2022 in Colombo.

		…………………………….
	W.R.Abeysirigunawardena	W.J. Viville P. Perera
	Director	Director

Consolidated Income Statements

			3 months ended 30th September	6 months ended 30th September
			2022	2021	Change	2022	2021	Change
			Rs. '000	Rs. '000	%	Rs. '000	Rs. '000	%
	Continuing Operations
	Revenue	2,661,097	1,754,079	52	5,429,028	3,154,379	72
	Cost of Sales	(1,979,877)	(1,155,680)	71	(3,714,968)	(2,111,418)	76
	Gross Profit		681,220	598,399	14	1,714,060	1,042,961	64
	Other Operating Income	5,978	5,717	5	12,571	11,189	12
	Distribution Costs	(353,007)	(248,786)	42	(826,943)	(429,436)	93
	Administrative Expenses	(116,536)	(76,198)	53	(223,422)	(135,368)	65
	Other Operating Expenses	-	-	0	-	-	0
	Profit from Operations		217,655	279,132	-22	676,266	489,346	38
	Finance Income	97,166	10,515	824	128,573	17,440	637
	Finance Cost	(45,721)	(8,919)	413	(46,368)	(12,697)	265
	Other Financial Items	20,781	1,495	1290	711,617	19,287	3590
	Share of Profit/ (Loss) of Associate	(4,370)	(1,067)	310	(13,487)	(2,978)	353
	Profit Before Tax		285,511	281,156	2	1,456,601	510,398	185
	Taxation	(35,276)	(37,821)	-7	(214,693)	(67,619)	218
	Profit for the Period from Continuing Operations		250,235	243,335	3	1,241,908	442,779	180
	Discontinued Operations
	Loss after tax for the period from discontinued operations		(15)	(15)	0	(30)	(30)	0
	Profit for the period		250,220	243,320	3	1,241,878	442,749	180
	Attributable to:		-	-		-	-
	Equity Holders of the Parent	303,760	172,320	76	1,136,303	313,156	263
	Non Controlling Interest	(53,540)	71,000	-175	105,575	129,593	-19
			250,220	243,320	3	1,241,878	442,749	180
			Rs.	Rs.		Rs.	Rs.
	Earnings Per Share	27.21	15.43		101.78	28.05
	Earnings Per Share from Continuing Operations	27.21	15.43		101.78	28.05
	Dividend per Share	-	-		-	-
	Figures in brackets indicate deductions.
	The above figures are subject to audit.

Company Income Statements

3 months ended 30th September 6 months ended 30th September

	2022	2021	Change	2022	2021	Change
	Rs. '000	Rs. '000	%	Rs. '000	Rs. '000	%
Revenue	1,109,685	625,069	78	2,102,065	1,067,785	97
Cost of Sales	(754,591)	(408,279)	85	(1,263,359)	(710,316)	78
Gross Profit
355,094	216,790	64	838,706	357,469	135
Other Operating Income	261	330	(21)	1,183	493	140
Distribution Costs	(112,764)	(46,257)	144	(235,564)	(64,523)	265
Administrative Expenses	(32,055)	(30,106)	6	(69,623)	(51,901)	34
Profit from Operations
210,536	140,757	50	534,702	241,538	121
Finance Income	46,092	7,850	487	74,897	14,138	430
Finance Cost	(1,549)	(1,688)	(8)	(2,595)	(2,035)	28
Other Financial Items	6,674	(9,897)	(167)	373,795	(2,426)	(15,508)
Profit before Tax
261,753	137,022	91	980,799	251,215	290
Taxation	(25,101)	(17,726)	42	(135,156)	(33,640)	302
Profit Attributable to Ordinary Shareholders
236,652	119,296	98	845,643	217,575	289
	Rs.	Rs.		Rs.	Rs.
Earnings Per Share	21.20	10.69		75.75	19.49
Dividend Per Share	-	-		-	-

Figures in brackets indicate deductions.

The above figures are subject to audit.