Standard Capital : Interim Financial Statements 30.06.2022

Interim Financial Statements

For the Quarter ended 30th June 2022

SAMSON INTERNATIONAL PLC

Akuressa Road, Bogahagoda, Galle

SAMSON INTERNATIONAL PLC

STATEMENT OF COMPREHENSIVE INCOME

	For the 03 Months ended		For the Year
	30th June		ended 31	st
	2022	2021	Change	March 2022
Rs.'000	Unaudited	Unaudited	+/(-)	Audited
Revenue
Export	233,392	218,672	6.7%	1,023,410
Local	422,939	286,408	47.7%	1,861,779
Total revenue	656,331	505,080	29.9%	2,885,189
Cost of sales	(430,801)	(414,662)	3.9%	(2,307,891)
Gross profit	225,530	90,418	149.4%	577,298
Other operating income	1,560	1,014	53.8%	4,094
Exchange gain / (loss)	(7,278)	2,555	-384.9%	(27,499)
Selling & distribution cost	(32,372)	(26,887)	20.4%	(155,867)
Administrative expenses	(67,879)	(50,506)	34.4%	(232,185)
Operating profit	119,561	16,594	620.5%	165,841
Finance costs	(30,604)	(10,543)	190.3%	(66,322)
Profit before income tax	88,957	6,051	1370.1%	99,519
Income tax expense	(18,733)	(1,895)	888.5%	(15,495)
Profit for the period	70,224	4,156	1589.7%	84,024
Earnings per share Rs.
Basic	16.59	0.98	1589.7%	19.85
Diluted	-	-	-	-
Dividend per share Rs.	2.00	2.00	-	2.00
STATEMENT OF OTHER COMPREHENSIVE INCOME
Profit for the period	70,224	4,156	1589.7%	84,024
Other comprehensive income
Actuarial Gain / (Loss) on post employment benefit liability	-	-	-	623
Deferred tax actuarial gain/(loss)	-	-	-	(103)
Other comprehensive income net of tax	-	-	-	520
Total comprehensive income/(Loss) for the period	70,224	4,156	1589.7%	84,544

Colombo

10th August 2022

SAMSON INTERNATIONAL PLC

STATEMENT OF FINANCIAL POSITION

As at 30th June	2022	2021
Rs.'000	Unaudited	Unaudited
Assets
Non-current assets
Property plant & equipment	547,054	559,864
Investments	18,977	17,984
Available for sales financial investments	10,000	10,000
Intangible assets	5,671	3,364
Deferred tax assets	9,522	8,451
	591,224	599,663
Current assets
Inventories	693,177	814,856
Trade & other receivables	714,798	640,444
Cash and cash equivalents	99,524	53,009
	1,507,499	1,508,309
Total Assets	2,098,723	2,107,972
Equity and liabilities
Stated capital	109,600	109,600
General reserves	110,000	110,000
Retained earnings	658,021	515,871
Total equity	877,621	735,471
Liabilities
Non-current liabilities
Long - term Loan	29,784	40,687
Deferred tax liabilities	38,455	38,808
Retirement benefit obligations	53,980	50,915
	122,219	130,410
Current liabilities
Trade and other payables	277,234	517,830
Short - term borrowings	645,724	534,229
Bank overdrafts	145,741	175,672
Income tax Payables	30,184	14,359
	1,098,883	1,242,090
Total liabilities	1,221,102	1,372,500
Total equity and liabilities	2,098,723	2,107,972
Net assets value per share Rs.	207.34	173.76
The above figures are provisional and subject to audit.

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

Sgd.

A.P. Sisira Kumara ( Head of Finance )

The Board of Directors is responsible for the preparation and presentation of these financial statements.

Sgd.	Sgd.
D. K Rajapaksa (Managing Director)	D. G. P. S Abeygunawardana (Director/ General Manager)

Colombo

10th August 2022

SAMSON INTERNATIONAL PLC

STATEMENT OF CASH FLOWS

		For the 03 Months ended
		30th June
		2022	2021
	Rs.'000	Unaudited	Unaudited
Cash flow from operating activities
Profit before taxation		88,957	6,051
Adjustments for :-
Depreciation of property, plant and equipment	17,628	18,323
Amortization		304	218
Interest received from investments activities	(1,499)	(1,000)
Interest paid		30,604	10,543
Provision for gratuity		1,950	1,950
Operating profit before working capital changes	137,944	36,085
Changes in operating assets and liabilities :-
(Increase) / decrease	in inventories	36,669	(287,296)
(Increase) / decrease	in trade and other receivables	(51,515)	12,198
Increase / (decrease) in trade payables	(109,024)	32,801
		14,074	(206,212)
Gratuity paid		(574)	(200)
Interest paid		(30,604)	(10,543)
Net cash generated from operating activities	(17,104)	(216,955)
Cash flows from investing activities
Purchases of property, plant & equipment	(7,112)	(4,082)
Investment in debentures	(565)	(5,406)
Interest received from Investments Activities	1,499	1,000
Net cash used in investing activities	(6,178)	(8,488)
Cash flows from financing activities
Dividend paid		(8,466)	(8,466)
Proceeds / (repayment) of interest bearing loans & borrowings	45,724	177,512
Net cash used in financing activities	37,258	169,046
Net (decrease)/increase in cash and cash equivalents	13,976	(56,397)
Cash & cash equivalents at beginning of the year	(60,193)	(66,266)
Cash & cash equivalents at end of period	(46,217)	(122,663)
Cash and cash equivalents
Cash at bank and in hand	99,524	53,009
Bank overdrafts		(145,741)	(175,672)
Cash & cash equivalents at end of period	(46,217)	(122,663)

SAMSON INTERNATIONAL PLC

STATEMENT OF CHANGES IN EQUITY

	Stated	General	Retained
	Capital	Reserve	Earnings	Total
	Rs.'000
Balance as at 1st April 2021	109,600	110,000	520,181	739,781
Net profit or (loss) for the period	-	-	4,156	4,156
				-
Other comprehensive income	-	-	-	-
Total comprehensive income	-	-	4,156	4,156
Dividend paid	-	-	(8,466)	(8,466)
Balance as at 30th June 2021	109,600	110,000	515,871	735,471

Balance as at 1st April 2022	109,600	110,000	596,263	815,863
Net profit or (loss) for the period	-	-	70,224	70,224
Other comprehensive income	-	-	-	-
Total comprehensive income	-	-	70,224	70,224
Dividend paid	-	-	(8,466)	(8,466)
Balance as at 30th June 2022	109,600	110,000	658,021	877,621