C T Holdings PlcCSELK: CTHR.N0000

Quarterly Financial Statements as at 30 June 2024

Aug 13, 2024 at 10:45 AM UTC · Issued by C T Holdings Plc

C T HOLDINGS PLC

CONDENSED INTERIM FINANCIAL STATEMENTS

FOR THE THREE MONTHS ENDED

30 JUNE 2024

Contents

Statement of profit or loss and other comprehensive income	01
Statement of financial position	02
Statement of changes in equity	03
Statement of cash flows	04
Segment information	05
Explanatory notes	07
Corporate information	IBC

Statement of Profit or Loss and

Other Comprehensive Income

					Group			Company

		For the three months ended		For the three months ended

		30-Jun			30-Jun	Var.	30-Jun	30-Jun	Var.
In thousands of rupees	2024	2023		%	2024	2023		%
Revenue	60,140,497	56,918,568		6.00	-	-		-
Cost of sales	(52,984,400)	(50,342,121)		(5.00)	-	-		-
Gross profit	7,156,097	6,576,447		9.00	-	-		-

Other income	761,752	710,628		7.00	1,925,903	1,559,094		24.00

Distribution expenses	(2,108,575)	(1,784,994)		(18.00)	-	-		-

Administrative expenses	(1,802,869)		(1,613,129)		(12.00)	(29,318)	(28,642)		(2.00)
Results from operating activities	4,006,405	3,888,952		3.00	1,896,585	1,530,452		24.00

Finance income	190,106	280,309		(32.00)	11,506	481		2,292.00
Finance expenses	(1,277,814)	(1,760,624)		27.00	(7,339)	(9,781)		25.00
Net finance costs	(1,087,708)	(1,480,315)		27.00	4,167	(9,300)		145.00

Share of profit of associates, net of tax	23,960	45,883		(48.00)	-	-		-
Profit before taxation	2,942,657	2,454,520		20.00	1,900,752	1,521,152		25.00

Tax on profit for the period	(933,788)	(802,861)		(16.00)	-	-		-
Profit after tax on profit	2,008,869	1,651,659		21.63	1,900,752	1,521,152		25.00
Tax effect of dividends paid to equity holders		(479,837)		(386,517)		(24.00)	-	-		-
Profit for the period	1,529,032	1,265,142		20.86	1,900,752	1,521,152		25.00

Other comprehensive income - net of tax
Items that will not be re-classified subsequently to profit or loss:
Net change in fair value of FVOCI financial assets	2,621	(21,631)		112.00	43	(11,044)		100.00

Share of other comprehensive income of associates	85,497	83,103		3.00	-	-		-
Total other comprehensive income - net of tax	88,118	61,472		43.00	43	(11,044)		100.00
Total comprehensive income	1,617,150	1,326,614		22.00	1,900,795	1,510,108		26.00

Profit for the period attributable to
Owners of the parent	1,069,059	870,873	23.00	1,900,752	1,521,152
Non-controlling Interest	459,973	394,269	17.00	-	-
Profit for the period	1,529,032	1,265,142	20.86	1,900,752	1,521,152
Total comprehensive income attributable to
Owners of the parent	1,156,434	935,395	24.00	1,900,795	1,510,108
Non-controlling Interest	460,716	391,219	18.00	-	-
Total comprehensive income	1,617,150	1,326,614	22.00	1,900,795	1,510,108
Earnings per share (Rs.)	5.31	4.32	23.00	9.44	7.55
Dividends per share (Rs.)	*8.50	**6.00		*8.50	**6.00

Second interim dividend for the year 2023/24.
Second interim dividend for the year 2022/23.

25.00

26.00

25.00

PLC	Financial Statements 30 June 2024
C T HOLDINGS	Condensed Interim

Statement of Financial Position

	Group		Company

As at	30-Jun	31-Mar	30-Jun	31-Mar
In thousands of rupees	2024	2024	2024	2024
		(Audited)		(Audited)
Assets
Non-current assets
Property, plant & equipment	54,699,638	55,161,913	2,071	2,093

Right of use assets	20,187,070	20,396,191	70	76

Investment property	12,832,397	12,830,323	1,045,044	1,045,044

Intangible assets	1,796,344	1,837,800	688,467	688,467
Investments in subsidiaries	-	-	1,625,586	1,625,586
Investments in equity accounted investees	6,809,377	6,699,920	5,605,950	5,605,950

Other financial assets	1,707,540	1,703,150	81,734	81,692

Biological assets	73,592	65,737	-	-
Total non-current assets	98,105,958	98,695,034	9,048,922	9,048,908
Current assets
Inventories	20,927,537	23,283,570	-	-
Biological assets	154,251	150,018	-	-
Trade and other receivables	14,355,344	12,764,697	157,365	30,212

Amounts due from subsidiaries	-	-	9,878	9,187

Amounts due from other related parties	285,715	289,355	2,529	3,408

Other financial assets	133,205	131,107	-	-

Cash and cash equivalents	8,274,637	8,141,729	468,409	457,558
Total current assets	44,130,689	44,760,476	638,181	500,365
Total assets	142,236,647	143,455,510	9,687,103	9,549,273
Equity and liabilities
Equity attributable to owners of the parent
Stated capital	6,489,758	6,489,758	6,489,758	6,489,758

Reserves	6,605,991	6,604,113	91,442	91,399

Retained earnings	16,673,831	17,060,717	2,457,557	2,268,764
Total equity attributable to equity holders of the parent	29,769,580	30,154,588	9,038,757	8,849,921
Non-controlling interest	13,412,568	13,731,722	-	-
Total equity	43,182,148	43,886,310	9,038,757	8,849,921
Liabilities
Non-current liabilities
Interest bearing loans and borrowings	24,795,879	25,414,298	356,611	401,559

Employee benefits	2,238,155	2,093,066	49,474	49,474

Trade and other payables	208,539	197,206	-	-

Deferred tax liabilities	3,374,577	3,567,442	-	-
Total non-current liabilities	30,617,150	31,272,012	406,085	451,033
Current liabilities
Trade and other payables	27,342,848	32,650,832	4,051	19,309

Current tax liabilities	5,715,039	5,485,759	-	-

Amounts due to subsidiaries	-	-	20,012	20,012

Amounts due to other related parties	18,475	19,044	-	-

Dividends payable	218,198	208,978	218,198	208,978

Interest bearing loans and borrowings	35,142,789	29,932,575	-	20
Total current liabilities	68,437,349	68,297,188	242,261	248,319
Total liabilities	99,054,499	99,569,200	648,346	699,352
Total equity & liabilities	142,236,647	143,455,510	9,687,103	9,549,273
Net Asset Value per Share (Rs.)	147.81	149.72	44.88	43.94

The Board of Directors is responsible for the	preparation and presentation of these	I certify that these Financial Statements have been
Financial Statements. The Financial Statements	have been approved by the Board of	prepared in accordance with the requirements of the
Directors on 13 August 2024.		Companies Act No 7 of 2007.
(Signed.)	(Signed.)	(Signed.)
V R Page	A D B Talwatte	S C Niles
Deputy Chairman / Managing Director	Senior Independent Director	Executive Director

PLC	Financial Statements 30 June 2024
C T HOLDINGS	Condensed Interim

Statement of Changes in Equity

Group		Attributable to the owners of the parent		Non-controlling
						Total
	Stated	Revaluation	Fair value	Retained	Total
						Interest
In thousands of rupees	Capital	Reserve	Reserve	Earnings

For the three months ended 30 June 2023
Balance at 1 April 2023	6,489,758	2,823,337	133,191	13,667,618	23,113,904	12,249,407	35,363,311

Profit for the period	-	-	-	870,873	870,873	394,269	1,265,142

Other comprehensive income	-	-	(18,579)	83,103	64,524	(3,052)	61,472

Total comprehensive income for the period	-	-	(18,579)	953,976	935,397	391,217	1,326,614

Transactions with owners directly recorded in equity
Contributions by & distributions to owners
Subsidiary dividend to non-controlling interest	-	-	-	26,522	26,522	(631,323)	(604,801)
Dividends paid	-	-	-	(1,208,442)	(1,208,442)	-	(1,208,442)
Balance as at 30 June 2023	6,489,758	2,823,337	114,612	13,439,674	22,867,381	12,009,301	34,876,682

For the three months ended 30 June 2024
Balance as at 1 April 2024	6,489,758	6,488,805	115,308	17,060,717	30,154,588	13,731,722	43,886,310
Profit for the period	-	-	-	1,069,059	1,069,059	459,973	1,529,032

Other comprehensive income	-	-	1,878	85,497	87,375	743	88,118

Total other comprehensive income for the period	-	-	1,878	1,154,556	1,156,434	460,716	1,617,150

Transactions with owners directly recorded in equity
Contributions by & distributions to owners
Subsidiary dividend to non-controlling interest	-	-	-	170,517	170,517	(779,870)	(609,353)

Dividends paid	-	-	-	(1,711,959)	(1,711,959)	-	(1,711,959)

Balance as at 30 June 2024	6,489,758	6,488,805	117,186	16,673,831	29,769,580	13,412,568	43,182,148


Company	Stated	Revaluation	Fair value	Retained	Total
In thousands of rupees	Capital	Reserve	Reserve	Earnings

For the three months ended 30 June 2023
Balance at 1 April 2023	6,489,758	-	100,462	1,497,936	8,088,156

PLC	Financial Statements 30 June 2024
C T HOLDINGS	Condensed Interim

Profit for the period	-	-	-	1,521,152	1,521,152

Other comprehensive income	-	-	(11,044)	-	(11,044)
Dividends paid	-	-	-	(1,208,442)	(1,208,442)
Balance as at 30 June 2023	6,489,758	-	89,418	1,810,646	8,389,822

For the three months ended 30 June 2024
Balance at 1 April 2024	6,489,758	-	91,399	2,268,764	8,849,921

Profit for the period	-	-	-	1,900,752	1,900,752

Other comprehensive income	-	-	43	-	43
Dividends paid	-	-	-	(1,711,959)	(1,711,959)

Balance as at 30 June 2024	6,489,758	-	91,442	2,457,557	9,038,757

Statement of Cash Flows

	Group		Company

For the three months ended	30-Jun	30-Jun	30-Jun	30-Jun
In thousands of rupees	2024	2023	2024	2023
Cash flows from operating activities
Profit before tax	2,942,657	2,454,520	1,900,752	1,521,152

Adjustments for:
Depreciation of property, plant & equipment	1,239,320	1,138,977	22	22

Amortisation of right of use assets	515,344	506,811	6	5

Amortisation of intangible assets	31,571	36,383	-	-

Interest income	(190,106)	(280,309)	(11,506)	(481)

Profit on sale of property, plant & equipment	(1,199)	(833)	-	-

Dividend income	(5)	(4)	(1,925,751)	(1,558,942)

Finance costs	1,277,814	1,760,624	2	3

Share of (profit) / loss on equity accounted investees, net of tax	(23,960)	(45,882)	-	-

Impairment / (reversal of impairment) for trade receivables	9,361	6,392	-	-

Amortisation of deferred income	-	(2,873)	-	-

Impairment / (reversal of impairment) for inventories	3,937	6,558	-	-

Provision for obligation on defined benefit plan	166,377	152,918	-	-
Impairment of goodwill	11,100	-	-	-
Change in fair value of biological assets	(7,855)	-	-	-
Cash generated from operating activities before working capital	5,974,356	5,733,282	(36,475)	(38,241)
Change in inventories	2,352,096	2,030,404	-	-

Change in trade and other receivables	(1,600,008)	(1,492,689)	(127,153)	23,092

Change in amounts due from related parties	3,640	(282,317)	188	(30,779)

Change in trade and other payables	(5,294,886)	(3,399,968)	(15,259)	(1,793)

Change in amounts due to related parties	(569)	19,724	-	8,404

Cash generated from operating activities	1,434,629	2,608,436	(178,699)	(39,317)

Interest paid	(718,019)	(1,243,452)	-	-

Income tax paid	(1,377,210)	(735,648)	-	-

Defined benefit plan payments	(21,286)	(35,042)	-	-
Net cash from / (used in) operating activities	(681,886)	594,294	(178,699)	(39,317)

Cash flows from investing activities
Proceeds from sale of property, plant and equipment	1,199	861	-	-

Interest received	188,339	280,193	11,506	481

Dividends received	5	4	1,925,751	1,558,942
Acquisition of property, plant and equipment	(777,045)	(864,480)	-	-
Acquisition and construction of investment property	(2,075)	(683,553)	-	-

Acquisition of intangible assets	(1,215)	(36,846)	-	-

Acquisition of biological asets	(4,233)	(32,596)	-	-

Disposal of FVTOCI investments	(1,769)	-	-	-

Addition to other financial assets	(2,098)	(6,389)	-	-

Net cash from / (used in) investing activities	(598,892)	(1,342,806)	1,937,257	1,559,423

Cash flows from financing activities
Proceeds from short term borrowings	5,429,000	7,253,542	-	-

Repayment of long term borrowings	(663,716)	(528,285)	(44,968)	(52,191)

Payment of finance lease liabilities	(540)	-	-	-
Lease payments	(850,365)	(1,613,449)	-	-
Dividend paid to shareholders	(1,702,739)	(1,208,442)	(1,702,739)	(1,208,442)

Subsidiary dividend paid to non-controlling interest	(609,353)	(604,801)	-	-
Net cash from / (used in) financing activities	1,602,287	3,298,565	(1,747,707)	(1,260,633)
Net increase in cash and cash equivalents	321,509	2,550,053	10,851	259,473

Cash and cash equivalents at 1 April	4,851,780	2,449,572	457,558	113,736
Net increase / (decrease) in cash and cash equivalents	321,509	2,550,053	10,851	259,473
Cash and cash equivalents at 30 June	5,173,289	4,999,625	468,409	373,209

PLC	Financial Statements 30 June 2024
C T HOLDINGS	Condensed Interim

Segment Information

	Retail		FMCG		Restaurants
For the three months ended	30-Jun	30-Jun	30-Jun	30-Jun	30-Jun	30-Jun
In thousands of rupees	2024	2023	2024	2023	2024	2023
Revenue
Gross revenue	45,043,076	42,129,866	17,326,993	17,116,975	2,808,465	2,561,445

Eliminations of inter segment revenue	(54,435)	(48,469)	(5,193,051)	(5,006,349)	-	-
External revenue	44,988,641	42,081,397	12,133,942	12,110,626	2,808,465	2,561,445
Segment result
Results from operating activities	1,884,350	1,703,302	1,589,248	1,694,209	495,339	445,131

	Retail		FMCG		Restaurants
As at	30-Jun	30-Jun	30-Jun	30-Jun	30-Jun	30-Jun
In thousands of rupees	2024			2023	2024	2023	2024	2023
Segment assets
Segment non-current assets
Property, plant & equipment	26,884,305			24,941,179	11,129,537	10,272,798	2,010,813	1,709,105

Right of use assets	17,788,129			18,767,493	96,418	93,991	1,359,446	1,242,050

Investment property	-			-	209,077	200,347	-	-
Intangible assets	91,491			107,920	678,044	693,177	344,424	253,809

Other financial assets	-			-	241	243	237	238
Prepayment on leasehold land and building	-			200,912	-	-	-	-
Deferred tax assets	-			-	-	35,103	-	-
Biological assets	-			-	73,593	30,557	-	-
Total segment non-current assets	44,763,925			44,017,504	12,186,910	11,326,216	3,714,920	3,205,202

PLC	Financial Statements 30 June 2024
C T HOLDINGS	Condensed Interim

Current assets
Inventories	13,921,075	13,864,907	6,646,567	6,600,936	347,286	380,221

Biological assets	-	-	154,251	59,592	-	-
Trade and other receivables	6,322,791	5,273,947	5,840,008	4,447,659	468,649	363,551

Amounts due from other related parties	11,107	3,014	18,218	12,539	-	-
Other financial assets	-	-	116,736	102,145	-	-

Cash and cash equivalents	4,578,217	3,588,984	1,807,397	1,381,658	801,877	756,228
Total segment current assets	24,833,190	22,730,852	14,583,177	12,604,529	1,617,812	1,500,000
Total segment assets	69,597,115	66,748,356	26,770,087	23,930,745	5,332,732	4,705,202
Segment liabilities
Non-current liabilities
Interest bearing loans and borrowings	20,853,848	20,930,469	292,316	652,213	1,537,601	1,447,971

Employee benefits	1,073,949	990,902	188,739	171,201	-	-

Capital grants	-	-	-	1,623	-	-
Trade and other payables	-	-	-	-	-	-

Deferred tax liabilities	(112,722)	(366,740)	1,063,636	806,999	(45,834)	(54,064)
Total segment non-current liabilities	21,815,075	21,554,631	1,544,691	1,632,036	1,491,767	1,393,907
Current liabilities
Trade and other payables	18,925,899	17,807,612	6,170,262	4,695,414	1,391,973	1,759,320

Current tax liabilities	1,349,019	1,801,150	2,902,881	3,214,997	979,312	1,037,076
Borrowings	16,365,465	16,896,054	6,559,156	5,570,508	269,558	352,896

Amounts due to other related parties	-	17,224	-	790	-	-
Total segment current liabilities	36,640,383	36,522,040	15,632,299	13,481,709	2,640,843	3,149,292
Total segment liabilities	58,455,458	58,076,671	17,176,990	15,113,745	4,132,610	4,543,199

Segment Information

	Real Estate		Entertainment	Group
For the three months ended	30-Jun	30-Jun	30-Jun	30-Jun	30-Jun	30-Jun
In thousands of rupees	2024	2023	2024	2023	2024	2023
Revenue
Gross revenue	130,493	99,522	108,874	91,695	65,417,901	61,999,503

Eliminations of inter segment revenue	(29,918)	(26,117)	-	-	(5,277,404)	(5,080,935)
External revenue	100,575	73,405	108,874	91,695	60,140,497	56,918,568
Segment result
Results from operating activities	(7,885)	(33,208)	15,209	14,090	3,976,261	3,823,525

Corporate and other unallocated operating profit					30,144	65,427

Total results from operating activities					4,006,405	3,888,952

	Real Estate		Entertainment	Group
As at	30-Jun	30-Jun	30-Jun	30-Jun	30-Jun	30-Jun
In thousands of rupees	2024	2023	2024	2023	2024	2023
Segment assets
Non-current assets
Property, plant & equipment	5,014,839	3,150,143	212,395	155,647	45,251,888	40,228,872

Right of use assets	35,190	40,295	211,170	236,951	19,490,353	20,380,780

Investment property	11,691,669	9,451,494	-	-	11,900,746	9,651,841
Intangible assets	7,615	2,496	814	1,205	1,122,388	1,058,607

Other financial assets	40,563	74,229	-	-	41,041	74,710
Prepayment on leasehold land and building	-	-	-	-	-	200,912

Deferred tax assets	-	-	-	-	-	35,103

Biological assets	-	-	-	-	73,593	30,557
Total segment non-current assets	16,789,876	12,718,657	424,379	393,803	77,880,009	71,661,382

Current assets
Inventories	4,825	4,620	6,539	7,819	20,926,292	20,858,503

Biological assets	-	-	-	-	154,251	59,592
Trade and other receivables	660,954	596,995	13,648	5,409	13,306,050	10,687,561

Amount receivable from other related companies	539	24,987	34	522	29,898	41,062
Other financial assets	16,469	19,775	-	-	133,205	121,920

Cash and cash equivalents	49,245	2,265	133,263	33,396	7,369,999	5,762,531
Total segment current assets	732,032	648,642	153,484	47,146	41,919,695	37,531,169
Total segment assets	17,521,908	13,367,299	577,863	440,949	119,799,704	109,192,551
Corporate and other unallocated assets					22,436,943	23,054,105
Total assets					142,236,647	132,246,656
Segment liabilities
Non-current liabilities
Interest bearing loans and borrowings	107,238	196,322	287,949	304,371	23,078,951	23,531,346

Employee benefits	86,596	58,380	2,275	1,654	1,351,559	1,222,137

Capital grants	-	-	-	-	-	1,623
Trade and other payables	208,539	184,154	-	-	208,539	184,154

Deferred tax liabilities	1,813,798	824,313	-	-	2,718,879	1,210,508
Total segment non-current liabilities	2,216,171	1,263,169	290,224	306,025	27,357,928	26,149,768
Current liabilities
Trade and other payables	370,765	69,531	94,666	96,154	26,953,565	24,428,031

Current tax liabilities	189	83,330	-	-	5,231,401	6,136,553
Borrowings	3,072,553	47,439	42,564	7,320	26,309,296	22,874,217
							PLC
Amounts due to other related companies	-	5,825	18,475	1,710	18,475	25,549
Total segment current liabilities	3,443,507	206,125	155,705	105,184	58,512,737	53,464,350
HOLDINGS
Total segment liabilities	5,659,678	1,469,294	445,929	411,209	85,870,665	79,614,118

Corporate and other unallocated liabilities					13,183,834	17,755,856

Total liabilities					99,054,499	97,369,974
							T
							C

Condensed Interim Financial Statements 30 June 2024

Explanatory Notes

01. Basis of Preparation

These Financial Statements of C T Holdings Group, prepared in accordance with the Sri Lanka Accounting Standards (SLFRSs) for the three months ended 30 June 2024, are provisional and subject to Audit.

These Financial Statements have been prepared in accordance with Sri Lanka Accounting Standard No. 34 - Interim Financial Statements and use the same accounting policies and presentation as in the Financial Statements for the year ended 31 March 2024. The Group has not adopted any other standard, interpretation or amendment that has been issued but is not yet effective.

Freehold Land and Investment Property are respectively shown at the values in existence as at the last date of valuation. Other investments are reflected at values in existence as at the reporting date.

02. Fair Value Measurement and Related Fair Value Disclosures

The fair values of all the financial assets and financial liabilities recognised during the period were not materially different from the transaction prices at the date of initial recognition. There were no transfers between Level 1 and Level 2 and no transfers into or out of Level 3 categories as per the fair value hierarchy, during the period. The fair value changes on financial instruments in Level 3 category was properly recorded in the statement of other comprehensive income.

Fair valuation was done as of 30 June 2024 for all unquoted equity shares classified as Level 3 within the fair value hierarchy according to fair valuation methodology, Fair value would not significantly vary if one or more than inputs were changed.

03. Stated Capital

Stated Capital of the Company as at 30 June 2024 is represented by 201,406,978 ordinary shares.

04. Market Price Per Share

For the three months ended 30 June	2024	2023	Change	Change
	(Rs.)	(Rs.)	(Rs.)	(%)
Last Traded	275.00	180.50	94.50	52.35%
Highest	280.00	200.00	80.00	40.00%
Lowest	240.00	170.00	70.00	41.18%

05.	Directors' Shareholdings
	As at 30 June	2024	2023
		(No's)	(No's)
	Louis Page	11,000	11,000
	Ranjit Page	19,155,521	18,889,521
	A D B Talwatte	-	-
	J B L De Silva	234	234
	Priya Edirisinghe	-	-
	Mrs. Cecilia Page	1,901,008	1,780,000
	Joseph Page	7,069,172	7,069,172			2024
	Dr. A Aravinda Page	971,884	950,800

	M I Abdul Wahid	-	-			June

	S C Niles	56,485	56,485			30
		29,165,304	28,757,212			Statements

06.	Public Shareholding

	As at 30 June		2024	2023		Financial
	Shareholders (No's)		1,365	1,373	PLC

	Shareholding (%)		33.54%	34.13%	HOLDINGSTC	InterimCondensed

	Float adjusted market capitalisation (Rs.'000)		18,577,871	12,406,057

Accordingly, the Company complies with the Minimum Public Holding requirement of the Main Board as per Option 1 of Section 7.13.1 (a) of the CSE Listing Rules.

Explanatory Notes

07.	Top 20 Shareholders
	As at 30 June	2024		2023
		No's	%		No's	%
	Odeon Holdings (Ceylon) (Pvt) Ltd	85,229,012	42.32%	84,781,323	42.09%
	Mr. Ranjit Page	19,155,521	9.51%	18,889,521	9.38%
	Mr. Anthony A. Page	17,501,287	8.69%	17,501,287	8.69%
	Ms. M.M. Page	11,632,988	5.78%	11,616,090	5.77%
	Sir Chittampalam A Gardiner Trust	10,120,004	5.02%	10,120,004	5.02%
	Employees' Provident Fund	7,686,987	3.82%	7,686,987	3.82%
	Mr. Joseph Page	7,069,172	3.51%	7,069,172	3.51%
	Mrs. T. Selvaratnam	5,667,250	2.81%	5,667,250	2.81%
	Mr. T. Selvaratnam	2,821,500	1.40%	2,821,500	1.40%
	Mrs. Tanya Selvaratnam	2,821,500	1.40%	2,821,500	1.40%
	Citibank Hong Kong S/A Hostplus Pooled Superannuation Trust	2,344,477	1.16%	1,545,118	0.77%
	SSBT-Sunsuper Pty. Ltd. As Trustee for Sunsuper Super Annuation Fund	1,998,289	0.99%	1,775,889	0.88%
	Mrs. Cecilia Page	1,901,008	0.94%	1,780,000	0.88%
	Mrs. P.R. Page	1,664,256	0.83%	1,293,645	0.64%
	Mr. A.I. Dominic	1,449,940	0.72%	1,449,940	0.72%
	Mrs. A.M. Basnayake	1,146,659	0.57%	1,146,659	0.57%
	Ms. A.M.L Page	1,003,234	0.50%	974,622	0.48%
	Dr. Aravinda Page	971,884	0.48%	950,800	0.47%
	Northern Trust Company S/A Hosking Global Fund PLC	951,775	0.47%	992,961	0.49%
	The Galle Face Hotel Co. Ltd	915,503	0.45%	915,503	0.45%
	Seylan Bank PLC / Senthilverl Holdings (Pvt) Ltd	-	0.00%	852,676	0.42%
		184,052,246	91.38%	182,652,447	90.69%

	Others	17,354,732	8.62%	18,754,531	9.31%

	Total	201,406,978	100.00%	201,406,978	100.00%
08.	Tax expense
		Group			Company
	For the three months ended 30 June	2024	2023		2024	2023
	In thousands of rupees
	Statement of Profit or Loss
	Income tax	1,606,490	1,221,101	-	-
	Deferred tax charge/(reversal)	(192,865)	(31,723)	-	-
		1,413,625	1,189,378	-	-

09. Dividend

The Board of Directors declared a second interim dividend of Rs. 8.50 per share (Total - Rs. 1,711.95 Mn) for the year ended 31 March 2024 which was paid on 19 June 2024.

10. Segmental Information

The classification of the segments has been modified commencing from 1 April 2024. The Retail and Wholesale Distribution segment will now be know as Retail segment. The operations of the subsidiary Millers Ltd, which was previously classified under Retail and Wholesale Distribution segment will now be classified under the FMCG segment. The Directors are of the view that the change in the classification gives a better presentation and uniformity of reporting within the Group.

The relevant segmental information excluding the above-mentioned change will be as follows:

		Retail			FMCG
	For the three months ended	30-Jun	30-Jun		30-Jun	30-Jun
	In thousands of rupees	2024	2023	2024	2023

	External revenue	45,035,850	42,281,379	12,086,733	11,910,644

	Results from operating activities	1,893,432	1,730,359	1,580,166	1,667,152

	Segment assets	71,686,651	68,635,266	24,680,551	22,043,835

	Segment liabilities	59,387,225	58,800,584	16,245,223	14,389,832
11. Events after the reporting period
	No events have occurred since the reporting date which would require any adjustment to, or disclosure in, the financial statements.
12.	Contingent liabilities						PLC
	The income tax concession claimed under the Inland Revenue Act, No. 10 of 2006 and Act, No. 24 of 2017 is being contested by the Department of Inland
	HOLDINGS
	Revenue and the contingent liability of the group is amounting to Rs. 300 Mn. Having sought professional advice, the Management is confident that the tax

	concessions are applicable and as such no liabilities would arise. Accordingly, no provision has been made in the financial statements.
13.	Comparative figures						T
	In addition to the matter reported in note 10 above, where relevant, certain comparative figures have been re-classified to conform to the current period	C

presentation. All per share details have been calculated, for all periods, based on the number of shares in issue as at 30 June 2024.

Condensed Interim Financial Statements 30 June 2024

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