Convenience Foods Lanka : Interim Financial Statements 30th September 2022

CONVENIENCE FOODS

(LANKA) PLC

INTERIM REPORT

FOR THE 2ND QUARTER ENDED,

30TH SEPTEMBER 2022

Interim Report | Convenience Foods (Lanka) PLC

CORPORATE INFORMATION

NAME OF THE COMPANY		SECRETARIES & REGISTRARS
Convenience Foods (Lanka) PLC - PQ 164	P W Corporate Secretarial (Pvt) Ltd.
		No.3/17, Kynsey Road,
		Colombo 08.
LEGAL FORM & LISTING
A Public Limited Company listed on the
Colombo Stock Exchange.		BANKERS
		Hatton National Bank PLC
		Commercial Bank of Ceylon PLC
DATE OF INCORPORATION	Peoples Bank
27th March 1991		DFCC Bank PLC
		State Bank of India
		Standard Chartered Bank
REGISTERED OFFICE		Sampath Bank PLC
Ceylon Biscuits Ltd,		Nation Trust Bank
No. 555, High Level Road,
Makumbura, Pannipitiya,
Sri Lanka.
BUSINESS ACTIVITY
Manufacture and Marketing of Textured Vegetable
Protein (TVP), Culinary and other Food Products.
DIRECTORS OF THE COMPANY
Mr. R.S. Wickramasingha	- Chairman
Mr. E.T. De Zoysa - Managing Director
Ms. D.S. Wickramasingha	- Director
Ms. N.K. Wickramasingha	- Director

Mr. L.J.M. De Silva - Director

Mr. M.U.S.G. Thilakawardana - Director

Dr. D.M.A. Kulasooriya - Director

Mr. M.S. Nanayakkara - Director

AUDITORS

KPMG Sri Lanka

Chartered Accountants,

32A, Sir Mohomad Macan Markar Mawatha,

Colombo 3, Sri Lanka.

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Interim Report | Convenience Foods (Lanka) PLC

CONVENIENCE FOODS (LANKA) PLC

STATEMENT OF COMPREHENSIVE INCOME

FOR THE PERIOD ENDED 30TH SEPTEMBER 2022

	Group			Company
For the 03 Months Ended 30th September	2022		2021	Variance	2022	2021	Variance
	Rs.	Rs.	%	Rs.	Rs.	%
Revenue	2,200,735,981		1,251,033,788	75.9%	2,200,735,981	1,251,033,788	75.9%
Cost of Sales	(1,624,825,540)		(947,974,881)	71.4%	(1,624,825,540)	(947,974,881)	71.4%
Gross Profit	575,910,441		303,058,907	90.0%	575,910,441	303,058,907	90.0%
Other Operating Income	9,952,602		7,415,529	34.2%	9,952,602	7,415,529	34.2%
				-			-
Distribution Expenses	(171,083,781)		(134,385,929)	27.3%	(171,083,781)	(134,385,929)	27.3%
Administrative Expenses	(68,204,628)		(42,252,699)	61.4%	(68,204,628)	(42,252,699)	61.4%
Results from Operating Activities	346,574,635		133,835,808	159.0%	346,574,635	133,835,808	159.0%
Finance Income	8,664,131		9,470,968	-8.5%	8,664,131	9,470,968	-8.5%
Finance Expenses	(72,160,169)		(1,194,129)	5942.9%	(72,160,169)	(1,194,129)	5942.9%
Net Finance Income	(63,496,037)		8,276,839	-867.2%	(63,496,037)	8,276,839	-867.2%
Profit Before Tax	283,078,597		142,112,647	99.2%	283,078,597	142,112,647	99.2%
Income Tax Expenses	(52,861,860)		(27,282,561)	93.8%	(52,861,860)	(27,282,561)	93.8%
Profit for the Period	230,216,737		114,830,086	100.5%	230,216,737	114,830,086	100.5%
Other Comprehensive Income
Items that will not be reclassified to profit or loss:
Re-measurement component of defined benefit
plan	-		-	-	-	-	-
Other Comprehensive Income for the Period	-		-	-	-	-	-
Total Comprehensive Income for the Period	230,216,737		114,830,086	100.5%	230,216,737	114,830,086	100.5%
Profit for the Period Attributable to:
Owners of the Company	230,216,737		114,830,086	100.5%	230,216,737	114,830,086	100.5%
Non-Controlling Interest	-		-	-	-	-	-
Total Profit for the Period	230,216,737		114,830,086	100.5%	230,216,737	114,830,086	100.5%
Total Comprehensive Income for the Period
Attributable to:				-			-
Owners of the Company	230,216,737		114,830,086	100.5%	230,216,737	114,830,086	100.5%
Non-Controlling Interest	-		-	-	-	-	-
Total Comprehensive Income for the Period	230,216,737		114,830,086	100.5%	230,216,737	114,830,086	100.5%
Basic and Diluted Earnings Per Share	83.72		41.76		83.72	41.76

Figures in brackets indicate deductions.

The above figures are not audited.

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Interim Report | Convenience Foods (Lanka) PLC

CONVENIENCE FOODS (LANKA) PLC

STATEMENT OF COMPREHENSIVE INCOME

FOR THE PERIOD ENDED 30TH SEPTEMBER 2022

	Group			Company
For the 06 Months Ended 30th September	2022		2021	Variance	2022	2021	Variance
	Rs.	Rs.	%	Rs.	Rs.	%
Revenue	3,867,119,925		2,036,700,447	89.9%	3,867,119,925	2,036,700,447	89.9%
Cost of Sales	(2,924,458,786)		(1,504,599,680)	94.4%	(2,924,458,786)	(1,504,599,680)	94.4%
Gross Profit	942,661,138		532,100,767	77.2%	942,661,138	532,100,767	77.2%
Other Operating Income	18,222,018		11,091,197	64.3%	18,222,018	11,091,197	64.3%
				-			-
Distribution Expenses	(337,665,646)		(244,029,808)	38.4%	(337,665,646)	(244,029,808)	38.4%
Administrative Expenses	(127,704,963)		(84,195,358)	51.7%	(127,704,963)	(84,195,358)	51.7%
Results from Operating Activities	495,512,548		214,966,798	130.5%	495,512,548	214,966,798	130.5%
Finance Income	15,162,423		22,399,106	-32.3%	15,162,423	22,399,106	-32.3%
Finance Expenses	(84,899,715)		(3,010,078)	2720.5%	(84,899,715)	(3,010,078)	2720.5%
Net Finance Income	(69,737,292)		19,389,029	-459.7%	(69,737,292)	19,389,029	-459.7%
Profit Before Tax	425,775,256		234,355,827	81.7%	425,775,256	234,355,827	81.7%
Income Tax Expenses	(77,979,718)		(44,047,198)	77.0%	(77,979,718)	(44,047,198)	77.0%
Profit for the Period	347,795,538		190,308,629	82.8%	347,795,538	190,308,629	82.8%
Other Comprehensive Income
Items that will not be reclassified to profit or loss:
Re-measurement component of defined benefit
plan	-		-	-	-	-	-
Other Comprehensive Income for the Period	-		-	-	-	-	-
Total Comprehensive Income for the Period	347,795,538		190,308,629	82.8%	347,795,538	190,308,629	82.8%
Profit for the Period Attributable to:
Owners of the Company	347,795,538		190,308,629	82.8%	347,795,538	190,308,629	82.8%
Non-Controlling Interest	-		-	-	-	-	-
Total Profit for the Period	347,795,538		190,308,629	82.8%	347,795,538	190,308,629	82.8%
Total Comprehensive Income for the Period
Attributable to:				-			-
Owners of the Company	347,795,538		190,308,629	82.8%	347,795,538	190,308,629	82.8%
Non-Controlling Interest	-		-	-	-	-	-
Total Comprehensive Income for the Period	347,795,538		190,308,629	82.8%	347,795,538	190,308,629	82.8%
Basic and Diluted Earnings Per Share	126.47		69.20		126.47	69.20

Figures in brackets indicate deductions.

The above figures are not audited.

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