Ceylon Cold Stores PLC
Interim Financial Statements
30th September 2022
CEYLON COLD STORES PLC (PQ4) | 1 | |||||||||||
No. 117, Sir Chittampalam A Gardiner Mawatha | ||||||||||||
Colombo 02 | ||||||||||||
INTERIM CONDENSED FINANCIAL STATEMENTS | ||||||||||||
CONSOLIDATED INCOME STATEMENT | ||||||||||||
Quarter ended 30 September | Six months ended 30 September | |||||||||||
Notes | 2022 | 2021 | Change % | 2022 | 2021 | Change % | ||||||
Continuing Operations | ||||||||||||
Goods transferred at a point in time | 31,910,906 | 17,735,439 | 80 | 62,224,468 | 35,882,335 | 73 | ||||||
Total Revenue from contracts with customers | 31,910,906 | 17,735,439 | 80 | 62,224,468 | 35,882,335 | 73 | ||||||
Cost of sales | (28,920,372) | (16,216,849) | 78 | (55,857,067) | (32,773,157) | 70 | ||||||
Gross profit | 2,990,534 | 1,518,590 | 97 | 6,367,401 | 3,109,178 | 105 | ||||||
Other operating income | 498,332 | 294,029 | 69 | 1,007,296 | 738,086 | 36 | ||||||
Selling and distribution expenses | (914,756) | (765,602) | 19 | (1,901,724) | (1,485,725) | 28 | ||||||
Administrative expenses | (1,012,666) | (750,067) | 35 | (1,914,987) | (1,476,432) | 30 | ||||||
Other operating expenses | (40,991) | (42,664) | (4) | (141,798) | (79,591) | 78 | ||||||
Results from operating activities | 1,520,453 | 254,286 | 498 | 3,416,188 | 805,516 | 324 | ||||||
Finance cost | 7 | (1,082,425) | (515,241) | 110 | (1,776,480) | (973,987) | 82 | |||||
Finance income | 7 | 35,136 | 17,544 | 100 | 49,793 | 33,719 | 48 | |||||
Net Finance cost | (1,047,289) | (497,697) | 110 | (1,726,687) | (940,268) | 84 | ||||||
Profit/(loss) before tax | 473,164 | (243,411) | (294) | 1,689,501 | (134,752) | (1,354) | ||||||
Tax (expense) / credit | 6 | (36,603) | 166,331 | (122) | (333,663) | 168,908 | (298) | |||||
Profit/(loss) for the period | 436,561 | (77,080) | (666) | 1,355,838 | 34,156 | 3,870 | ||||||
Attributable to: | ||||||||||||
Equity holders of the parent | 436,561 | (77,080) | (666) | 1,355,838 | 34,156 | 3,870 | ||||||
LKR | LKR | LKR | LKR | |||||||||
Earnings per share | ||||||||||||
0.46 | (0.08) | 1.43 | 0.04 | |||||||||
Basic/Diluted | ||||||||||||
Dividend per share | - | - | 0.33 | 0.40 |
Note : All values are in LKR '000s, unless otherwise stated.
Figures in brackets indicate deductions.
The above figures are not audited.
2
CEYLON COLD STORES PLC (PQ4)
No. 117, Sir Chittampalam A Gardiner Mawatha
Colombo 02
INTERIM CONDENSED FINANCIAL STATEMENTS
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
Quarter ended 30 September | Six months ended 30 September | ||||||||
2022 | 2021 | 2022 | 2021 | ||||||
Profit/ (loss) for the period | 436,561 | (77,080) | 1,355,838 | 34,156 | |||||
Other comprehensive income | |||||||||
Other comprehensive income not to be reclassified to income | |||||||||
statement in subsequent periods | |||||||||
Net gain/(loss) on equity instruments at fair value through other | |||||||||
comprehensive income | 1,109,054 | 93,135 | (621,099) | 220,245 | |||||
Net other comprehensive income not to be reclassified to income | 1,109,054 | 93,135 | (621,099) | 220,245 | |||||
statement in subsequent periods | |||||||||
Tax (charge)/credit on other comprehensive income | (110,905) | (9,313) | 62,110 | (22,024) | |||||
Other comprehensive income/ (loss) for the period, net of tax | 998,149 | 83,822 | (558,989) | 198,221 | |||||
Total comprehensive income for the period, net of tax | 1,434,710 | 6,742 | 796,849 | 232,377 | |||||
Attributable to: | |||||||||
Equity holders of the parent | 1,434,710 | 6,742 | 796,849 | 232,377 | |||||
1,434,710 | 6,742 | 796,849 | 232,377 | ||||||
Note : All values are in LKR '000s, unless otherwise stated.
Figures in brackets indicate deductions.
The above figures are not audited.
CEYLON COLD STORES PLC (PQ4) | 3 | |||
No. 117, Sir Chittampalam A Gardiner Mawatha | ||||
Colombo 02 | ||||
INTERIM CONDENSED FINANCIAL STATEMENTS | ||||
CONSOLIDATED STATEMENT OF FINANCIAL POSITION | ||||
As at | 30.09.2022 | 31.03.2022 | ||
ASSETS | ||||
Non-current assets | ||||
Property, plant and equipment | 25,997,625 | 25,579,561 | ||
Right-of-use-asset | 10,359,664 | 10,103,030 | ||
Investment property | 317,250 | 317,250 | ||
Intangible assets | 2,759,998 | 2,822,191 | ||
Non-current financial assets | 7,000,294 | 7,503,034 | ||
Other non-current assets | 1,026,610 | 1,006,726 | ||
47,461,441 | 47,331,792 | |||
Current assets | ||||
Inventories | 13,382,677 | 9,074,881 | ||
Trade and other receivables | 4,401,613 | 4,269,588 | ||
Amounts due from related parties | 11,442 | 3,028 | ||
Other current assets | 4,407,166 | 1,510,721 | ||
Short-term investments | 962,448 | - | ||
Cash in hand and at bank | 869,795 | 1,345,397 | ||
24,035,141 | 16,203,615 | |||
Total assets | 71,496,582 | 63,535,407 | ||
EQUITY AND LIABILITIES | ||||
Equity attributable to equity holders of the parent | ||||
Stated capital | 918,200 | 918,200 | ||
Revenue reserves | 14,105,130 | 13,312,296 | ||
Other components of equity | 3,344,333 | 3,876,658 | ||
Total equity | 18,367,663 | 18,107,154 | ||
Non-current liabilities | ||||
Interest-bearing loans and borrowings | 7,985,235 | 8,307,738 | ||
Lease liabilities | 10,312,695 | 9,927,569 | ||
Deferred tax liabilities | 1,829,521 | 1,756,840 | ||
Employee benefit liabilities | 975,254 | 902,906 | ||
Other no | n-current liabilities | 92,628 | 96,183 | |
21,195,333 | 20,991,236 | |||
Current liabilities | ||||
Trade and other payables | 14,108,051 | 12,353,187 | ||
Amounts due to related parties | 317,145 | 704,069 | ||
Income tax liabilities | 298,289 | 265,955 | ||
Short-term borrowings | 3,221,820 | 2,000,000 | ||
Interest-bearing loans and borrowings | 2,312,618 | 2,179,283 | ||
Lease liabilities | 625,650 | 477,149 | ||
Other current liabilities | 1,191,779 | 1,031,908 | ||
Bank overdrafts | 9,858,234 | 5,425,466 | ||
31,933,586 | 24,437,017 | |||
Total equity and liabilities | 71,496,582 | 63,535,407 | ||
LKR | LKR | |||
Net assets per share | 19.33 | 19.05 |
Note : All values are in LKR '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.07 of 2007.
P N Fernando
Chief Financial Officer / Director
The Board of Directors is responsible for these Financial Statements.
D P Gamlath | J G A Cooray |
Director | Director |
02 November 2022 | |
Colombo | |
CEYLON COLD STORES PLC (PQ4) | 4 | ||||||
No. 117, Sir Chittampalam A Gardiner Mawatha | |||||||
Colombo 02 | |||||||
INTERIM CONDENSED FINANCIAL STATEMENTS | |||||||
CONSOLIDATED STATEMENT OF CASH FLOWS | |||||||
For the six months ended 30 September | Notes | 2022 | 2021 | ||||
CASH FLOWS FROM OPERATING ACTIVITIES | |||||||
Profit before working capital changes | A | 5,436,222 | 2,557,454 | ||||
(Increase) / Decrease in inventories | (4,272,339) | (269,726) | |||||
(Increase) / Decrease in trade and other receivables | (338,457) | 739,461 | |||||
(Increase) / Decrease in amounts due from related parties | (8,414) | (91,732) | |||||
(Increase) / Decrease in other current assets | (2,837,590) | (371,925) | |||||
Increase / (Decrease) in trade and other payables | 1,754,864 | (885,387) | |||||
Increase / (Decrease) in amounts due to related parties | (386,924) | 162,301 | |||||
Increase / (Decrease) in other current liabilities | 159,871 | (48,210) | |||||
Increase / (Decrease) in other non-current liabilities | (3,555) | (7,227) | |||||
Cash generated from/(used in) operations | (496,322) | 1,785,009 | |||||
Finance income received | 28,320 | 27,312 | |||||
Finance expenses paid | (1,201,336) | (423,279) | |||||
Income tax paid | (166,540) | (187,622) | |||||
Surcharge tax paid* | (248,978) | - | |||||
Employee benefit (Gratuity) paid | (23,688) | (23,394) | |||||
Net cash flow from/(used in) operating activities | (2,108,544) | 1,178,026 | |||||
CASH FLOWS FROM/(USED IN) INVESTING ACTIVITIES | |||||||
Purchase and construction of property, plant and equipment | (1,590,073) | (2,139,637) | |||||
Purchase of intangible assets | (173,962) | (524,755) | |||||
Proceeds from sale of property, plant and equipment | 1,615 | 2,345 | |||||
Net cash flow used in investing activities | (1,762,420) | (2,662,047) | |||||
CASH FLOWS FROM/(USED IN) FINANCING ACTIVITIES | |||||||
Dividend paid to equity holders of parent | (314,012) | (380,160) | |||||
Dividend paid to preference shareholders | (14) | (14) | |||||
Proceeds from interest-bearing loans and borrowings | 708,755 | 1,823,364 | |||||
Repayment of interest-bearing loans and borrowings | (897,923) | (850,000) | |||||
Repayment of lease liability | (793,584) | (686,489) | |||||
Proceeds from other financial liabilities (net) | 1,221,820 | 928,897 | |||||
Net cash flow from/(used in) financing activities | (74,958) | 835,598 | |||||
NET DECREASE IN CASH AND CASH EQUIVALENTS | (3,945,922) | (648,423) | |||||
CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE PERIOD | (4,080,069) | (4,318,822) | |||||
CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD | (8,025,991) | (4,967,245) | |||||
ANALYSIS OF CASH AND CASH EQUIVALENTS | |||||||
Favourable balances | |||||||
Short-term investments | 962,448 | 300,000 | |||||
Cash in hand and at bank | 869,795 | 1,122,620 | |||||
Unfavourable balances | |||||||
Bank overdrafts | (9,858,234) | (6,389,865) | |||||
Total Cash and cash equivalents | (8,025,991) | (4,967,245) | |||||
*Actual payments made in 20th April and 20th July 2022
Note : All values are in LKR '000s, unless otherwise stated.
Figures in brackets indicate deductions.
The above figures are not audited.
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Ceylon Cold Stores plc published this content on 02 November 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 November 2022 03:39:07 UTC.