THE COLOMBO FORT LAND & BUILDING PLC

Company No. PQ 172

INTERIM FINANCIAL STATEMENTS

For The Quarter Ended

30th June 2022

THE COLOMBO FORT LAND & BUILDING PLC

Company No. PQ 172

Table of Contents

Page No.

Statement of Comprehensive Income - Group

1

Statement of Comprehensive Income - Company

2

Statement of Financial Position

3

Statement of Changes in Equity

4

Statement of Cash Flows

5

Segmental Information

6 - 7

Notes to the Financial Statements

8 - 9

Corporate Information

10

THE COLOMBO FORT LAND & BUILDING PLC

Company No. PQ 172

STATEMENT OF COMPREHENSIVE INCOME - GROUP

(Unaudited)

(Unaudited)

Quarter

Quarter

ended

ended

Variance

30.06.2022

30.06.2021

%

Rs.'000

Rs.'000

Revenue

17,936,963

11,899,007

+

51

Cost of Sales

(12,324,593)

(9,627,734)

-

28

Gross Profit

5,612,370

2,271,273

+

147

Other Income / (Expenses)

(167,444)

343,186

-

149

Distribution Costs

(997,135)

(650,488)

-

53

Administration Expenses

(1,323,434)

(1,044,132)

-

27

Financing Cost

(1,835,482)

(585,495)

-

213

Share of Results of Associates

(20,420)

18,361

-

211

Share of Results of Joint Venture

(50,203)

(20,688)

-

143

Profit before Tax Expense

1,218,252

332,017

+

267

Tax Expense

(219,720)

(92,103)

-

139

Profit / (Loss) for the period

998,532

239,914

+

316

Financial assets at Fair value through Other

Comprehensive Income

- Net change in fair value

(118,829)

(22,081)

-

438

Actuarial Gain /Losses on Defined Plan

(4,364)

(2,087)

-

109

Revaluation of Land

-

-

Share of Results of Associate

(3,315)

17,491

-

119

Tax on Other Comprehensive Income

-

-

Exchange Differences on Translation of Foreing Operations

-

-

Total Comprehensive Income For The Period

872,024

233,237

+

274

Profit Attributable to

Equity Holders of the Parent

371,324

90,157

+

148

Non -Controlling Interest

627,208

149,758

+

-

998,532

239,914

+

316

Total Comprehensive Income Attributable

Equity Holders of the Parent

296,446

133,162

+

123

Non -Controlling Interest

575,579

100,075

+

475

872,024

233,237

+

274

Earnings per Share (Rs.)

1.55

0.39

+

297

2022/23 1st Quarter

Page 1

THE COLOMBO FORT LAND & BUILDING PLC

Company No. PQ 172

STATEMENT OF COMPREHENSIVE INCOME - COMPANY

(Unaudited)

(Unaudited)

Quarter

Quarter

ended

ended

Variance

30.06.2022

30.06.2021

%

Rs.'000

Rs.'000

Revenue

26,213

26,836

-

2

Cost of Sales

-

-

Gross Profit

26,213

26,836

-

2

Other Income

1,229

1,171

+

5

Distribution Costs

-

-

-

-

Administration Expenses

(18,791)

(15,517)

-

21

Other Expenses

(565)

(1)

-

56,400

Net Finance Cost

(8,558)

(1,871)

-

357

Profit before Tax Expense

(472)

10,618

-

104

Tax Expense

(303)

-

-

-

Profit / (Loss) for the period

(775)

10,618

-

107

Other Comprehensive Income

Financial assets at Fair value through Other Comprehensive Income - Net

change in fair value

(1,791)

1,021

-

275

Total Comprehensive Income For The Period

(2,566)

11,639

-

122

Earnings per Share (Rs.)

(0.00)

0.05

-

106

2022/23 1st Quarter

Page 2

THE COLOMBO FORT LAND & BUILDING PLC

Company No. PQ 172

STATEMENT OF FINANCIAL POSITION

Group

Company

Group

Company

(Unaudited)

(Unaudited)

(Unaudited)

(Unaudited)

(Unaudited)

(Unaudited)

As at

As at

As at

As at

As at

As at

31.03.2022

31.03.2022

30.06.2022

30.06.2021

30.06.2022

30.06.2021

Rs.'000

Rs.'000

Rs.'000

Rs.'000

Rs.'000

Rs.'000

ASSETS

Non - Current Assets

23,828,339

5,441

Property, Plant & Equipment

23,375,406

20,283,059

4,655

7,872

770,429

-

Leasehold Properties

779,258

808,392

-

-

2,791,967

799,850

Investment Properties

2,784,291

2,816,618

798,990

802,523

668,990

-

Right to use of Assets

657,637

678,417

-

-

2,952,534

-

Biological Assets

3,133,939

2,949,827

-

-

808,723

-

Intangible Assets

801,120

861,261

-

-

-

1,546,203

Investments in Subsidiaries

-

-

1,546,203

1,716,446

366,593

97,989

Investments in equity accounted investees

342,859

600,055

101,052

95,819

163,547

-

Investment in Joint Venture

113,344

270,458

-

-

588,519

5,088

Other Investments

575,745

628,482

3,296

4,302

10,107

-

Employee Benefits

10,107

-

-

-

744,460

-

Deferred Tax Assets

601,737

787,288

-

-

33,694,208

2,454,571

33,175,443

30,683,858

2,454,196

2,626,962

Current Assets

9,309,311

-

Inventories

11,773,928

8,677,055

-

-

9,014,826

36,272

Trade and Other Receivables

9,439,515

8,070,443

42,833

41,810

Fair Value gain on growing produce of

16,664

-

bearer Biological Assets

18,693

15,382

-

-

43,929

199,491

Amounts Due from Related Parties

43,523

166,555

170,390

218,780

-

403,600

Loans Given to Related Parties

-

-

426,050

347,500

105,288

-

Income Tax Recoverable

87,298

110,315

-

-

1,000,556

2,465

Other Investments

793,931

1,258,311

2,006

3,206

2,748,314

33,895

Bank & Cash Balances

2,226,924

2,105,421

33,317

175,821

22,238,888

675,723

24,383,812

20,403,482

674,596

787,118

30,000

-

Assets Held for Sale

30,000

663,835

-

-

55,963,096

3,130,294

Total Assets

57,589,255

51,751,175

3,128,792

3,414,080

EQUITY AND LIABILITIES

Equity Attributable to Equity Holders of the Parent

927,000

927,000

Stated Capital

927,000

927,000

927,000

927,000

20,058

10,000

Capital Reserves

20,058

20,058

10,000

10,000

2,601,255

1,202,931

Revenue Reserves

2,897,700

2,024,261

1,200,365

1,157,849

3,548,313

2,139,931

3,844,758

2,971,319

2,137,365

2,094,849

4,778,529

-

Non- Controlling interest

5,248,675

4,164,409

-

-

8,326,842

2,139,931

Total Equity

9,093,433

7,135,728

2,137,365

2,094,849

Non - Current Liabilities

11,003,487

190,312

Loans and Borrowings

11,597,965

9,173,154

187,500

223,750

532,013

-

Deferred Income - Capital Grants

520,866

525,715

-

-

2,262,833

180,486

Deferred Tax Liabilities

2,315,820

2,323,398

180,788

197,077

3,367,963

-

Employee Benefits

3,054,440

3,967,982

-

-

12,172

-

Rent Received in Advance

-

-

-

-

17,178,468

370,798

17,489,091

15,990,249

368,288

420,827

Current Liabilities

11,262,288

35,330

Trade & Other Payables

10,254,864

11,660,168

38,139

69,454

571,112

470,484

Amounts Due to Related Parties

295,932

378,500

489,175

576,845

15,273,119

46,250

Loans and Borrowings

16,865,307

12,750,535

36,250

71,283

8,765

8,765

Rent Received in Advance

838

780

838

781

450,853

58,736

Income Tax Payables

604,547

450,622

58,737

48,028

2,891,649

-

Bank Overdraft

2,985,243

3,384,593

-

132,013

30,457,786

619,565

31,006,731

28,625,198

623,139

898,404

47,636,254

990,363

Total Liabilities

48,495,822

44,615,447

991,427

1,319,231

55,963,096

3,130,294

Total Equity and Liabilities

57,589,255

51,751,175

3,128,792

3,414,080

14.78

8.92

Net Asset per Share (Rs.)

16.02

12.38

8.91

8.73

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

For and on behalf of the Board.

(Sgd.)

(Sgd.)

S.D.R. Arudpragasam

P. M. A. Sirimane

Chairman

Group Finance Director

Date : 12th August 2022

Page 3

2022/23 1st Quarter

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Colombo Fort Land & Building plc published this content on 15 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 August 2022 11:42:09 UTC.