INTERIM REPORT |
PERIOD ENDED 30thJUNE 2025 |
C. W. Mackie PLC |
Statement of Profit or Loss and Other Comprehensive Income |
Group
For the
Revenue |
Cost of sales |
Gross profit |
Other operating income |
Distribution expenses |
Administrative expenses |
Finance income |
Finance costs |
Net financing costs |
Share of joint venture's profit/(loss)
Profit before taxation |
Income tax expense |
Profit attributable to: |
Equity holders of the parent company |
Non-controlling interests |
Profit for the period |
Total comprehensive income attributable to: |
Equity holders of the parent company |
Non-controlling interests |
Total comprehensive income for the period |
Figures in brackets indicate deductions.
Three months ended 30thJune2024 |
Rs. 000's |
(Unaudited) |
Variance |
% |
5,726,386 |
(5,036,319) |
2.09 |
(0.58) |
690,067 |
46,923 |
(290,017) |
(271,788) |
21.55 |
(59.10) |
7.59 |
12.29 |
2025 |
Rs. 000's |
(Unaudited) |
5,846,075 (5,007,290) |
838,785 19,193 (312,026) (305,181) |
240,771 9,841 (111,496) |
(101,655) |
(9,163) |
129,953 (36,500) |
93,453 |
93,453 |
89,685 3,768 |
93,453 |
89,685 3,768 |
93,453 |
2.49 |
8.00 |
175,185 37.44
11,687 |
(96,235) |
(84,548) |
(15.80) |
15.86 |
20.23 |
28,435 (132.22)
119,072 |
(30,300) |
9.14 |
20.46 |
88,772 5.27
88,772
89,544 |
(772) |
88,772 |
89,544 |
(772) |
88,772 |
2.49
8.00
C. W. Mackie PLC |
Statement of Profit or Loss and Other Comprehensive Income |
Company
For the
Revenue |
Cost of sales |
Gross profit |
Other operating income |
Distribution expenses |
Administrative expenses |
Finance income |
Finance costs |
Net financing costs |
Share of joint venture's profit/(loss)
Profit before taxation |
Income tax expense |
Profit attributable to: |
Equity holders of the parent company |
Profit for the period |
Total comprehensive income attributable to: |
Equity holders of the parent company |
Total comprehensive income for the period |
Figures in brackets indicate deductions.
Three months ended 30thJune2024 |
Rs. 000's |
(Unudited) |
Variance |
% |
5,360,769 |
(4,705,602) |
0.36 |
(2.21) |
655,167 |
43,862 |
(274,121) |
(240,567) |
18.79 |
(77.85) |
8.09 |
15.36 |
2025 |
Rs. 000's |
(Unaudited) |
5,380,094 (4,601,810) |
778,284 9,714 (296,308) (277,507) |
214,183 15,488 (101,127) |
(85,639) |
(9,163) |
119,381 (36,500) |
82,881 |
82,881 |
82,881 |
82,881 |
82,881 |
82,881 |
2.30 |
8.00 |
184,341 16.19
12,146 |
(85,430) |
(73,284) |
27.52 |
18.37 |
16.86 |
28,435 (132.22)
139,492 |
(30,300) |
(14.42) |
20.46 |
109,192 (24.10)
109,192
109,192 |
109,192 |
109,192 |
109,192 |
3.03
-
C. W. Mackie PLC |
Statement of Financial Position |
Group |
Company
30thJune | 31stMarch 2025 Rs.000's (Audited) 2,109,674 153,413 637,737 6,282 -460,474 9,395 3,376,975 3,776,440 4,854,953 39,472 120,000 91,648 8,882,513 12,259,488 507,047 8,734 761,072 2,838,772 4,115,625 340,339 4,455,964 71,430 129,871 155,178 14,863 325,289 696,631 7,814 51,148 35,320 3,911,823 64,122 2,065,437 656,513 -314,716 7,106,893 7,803,524 12,259,488 114.36 |
2025 | |
Rs.000's | |
(Unaudited) | |
2,084,764 145,710 633,111 5,478 -451,311 9,395 | |
3,329,769 | |
3,555,205 4,248,764 57,926 68,499 125,798 | |
8,056,192 | |
11,385,961 | |
507,047 8,734 761,072 2,640,549 | |
3,917,402 344,107 | |
4,261,509 | |
995,627 122,211 137,937 13,493 324,664 | |
1,593,932 | |
7,388 612,535 35,320 2,261,947 69,903 1,511,285 310,147 287,908 434,087 | |
5,530,520 | |
7,124,452 | |
11,385,961 | |
108.85 |
30thJune | 31stMarch 2025 Rs.000's (Audited) 855,650 153,413 -6,261 905,778 460,474 -2,381,576 3,439,396 4,282,095 322,587 136,600 74,395 8,255,073 10,636,649 507,047 14,909 228,967 3,096,061 3,846,984 - 3,846,984 -129,871 97,870 14,853 12,952 255,546 7,670 22,408 35,320 3,708,823 70,777 1,791,477 651,815 -245,829 6,534,119 6,789,665 10,636,649 106.89 |
2025 | |
Rs.000's | |
(Unaudited) | |
837,413 145,710 - 5,460 905,778 451,311 - | |
2,345,672 | |
3,334,686 3,618,389 451,676 136,600 83,962 | |
7,625,313 | |
9,970,985 | |
507,047 14,909 228,967 2,891,034 | |
3,641,957 - | |
3,641,957 | |
915,220 122,211 83,096 13,693 12,952 | |
1,147,172 | |
7,100 600,000 35,320 2,068,947 76,558 1,398,907 310,484 287,908 396,632 | |
5,181,856 | |
6,329,028 | |
9,970,985 | |
101.20 |
As at
Assets |
Non-current assets |
Property, plant and equipment |
Right of use assets |
Investment property |
Intangible assets |
Investments in subsidiaries |
Investment in joint venture |
Deferred tax asset |
Total non-current assets |
Current assets |
Inventories |
Trade and other receivables |
Related party receivables |
Interest bearing short term loan to related parties |
Cash and cash equivalents |
Total assets
Equity and liabilities |
Equity |
Stated capital |
Capital reserves |
Revaluation reserve |
Revenue reserves |
Equity attributable to equity holders of the Company |
Non-controlling interests |
Total equity |
Liabilities |
Non-current liabilities |
Interest bearing long term borrowings |
Lease payable after one year |
Retirement benefit obligation |
Deferred income |
Deferred tax liability |
Total non-current liabilities |
Current liabilities |
Deferred income |
Current portion of long term borrowings |
Lease payable within one year |
Interest bearing short term borrowings |
Income tax payable |
Trade and other payables |
Related party payables |
Dividend payable |
Bank overdrafts |
Total current liabilities |
Total liabilities |
Total equity and liabilities |
Net asset value per share (Rs.) |
Note : The above figures are subject to audit. | |
I certify that the financial statements have been prepared in compliance with the requirements of the Companies Act No. 7 of 2007. | |
Signed | |
L. Yatiwella | |
Chief Financial Officer | |
The Board of Directors are responsible for preparation and presentation of these financial statements. | |
Signed | Signed |
H. D. S Amarasuriya | H. M. A. Jayesinghe |
Director | Director |
12thAugust 2025 | |
C. W. Mackie PLC |
Statement of Changes in Equity - Group |
Retained |
earnings |
Rs.000's |
Non-controlling |
interests |
Rs.000's |
Total |
equity |
Rs.000's |
For the period ended 30thJune 2025
Attributable to equity holders of the parent company
Stated |
capital |
Rs.000's |
Capital |
reserves |
Rs.000's |
General |
reserve |
Rs.000's |
Revaluation reserve Rs.000's
Total Rs.000's
Total comprehensive income for the period |
Net profit/(loss) for the period |
Other comprehensive income, net of tax |
Total comprehensive income for the period |
Balance as at 30thJune 2024 |
Total comprehensive income for the period |
Contributions by and distributions to equity holders |
Changing holding percentage due to share issue |
First and final dividend 2023/24 |
Balance as at 1stApril 2024 507,047 8,734 664,149 7,000 2,632,683 3,819,613 348,863 4,168,476
- | - | - | - | 89,544 | 89,544 | (772) | 88,772 |
- | - | - | - | - | - | - | - |
- | - | - | - | 89,544 | 89,544 | (772) | 88,772 |
507,047 | 8,734 | 664,149 | 7,000 | 2,722,227 | 3,909,157 | 348,091 | 4,257,248 | |
Total comprehensive income for the period | ||||||||
Net profit for the period | - | - | - | - | 408,367 | 408,367 | (6,826) | 401,541 |
Other comprehensive income, net of tax | - | - | 96,923 | - | (14,166) | 82,757 | 2,326 | 85,083 |
- | - | 96,923 | - | 394,201 | 491,124 | (4,500) | 486,624 | |
- | - | - | - | 3,252 | 3,252 | (3,252) | - | |
- | - | - | - | (287,908) | (287,908) | - | (287,908) | |
Total distributions to equity holders | - | - | - | - | (284,656) | (284,656) | (3,252) | (287,908) |
Balance as at 31stMarch 2024 | 507,047 | 8,734 | 761,072 | 7,000 | 2,831,772 | 4,115,625 | 340,339 | 4,455,964 |
Balance as at 1stApril 2024 | 507,047 | 8,734 | 761,072 | 7,000 | 2,831,772 | 4,115,625 | 340,339 | 4,455,964 |
- | - | - | - | 89,685 | 89,685 | 3,768 | 93,453 |
- | - | - | - | - | - | - | - |
- | - | - | - | 89,685 | 89,685 | 3,768 | 93,453 |
Total comprehensive income for the period |
Net profit for the period |
Other comprehensive income, net of tax |
Total comprehensive income for the period |
Contributions by and distributions to equity holders |
First and final dividend payable 2024/25 |
Total distributions to equity holders |
Balance as at 30thJune 2025 |
- - - - (287,908) (287,908) - (287,908)
- - - - (287,908) (287,908) - (287,908)
507,047 8,734 761,072 7,000 2,633,549 3,917,402 344,107 4,261,509
Figures in brackets indicate deductions.
4
C. W. Mackie PLC |
Statement of Changes in Equity - Company |
For the period ended 30thJune 2025
Stated |
capital |
Rs.000's |
Capital |
reserves |
Rs.000's |
Revaluation |
reserve |
Rs.000's |
General |
reserve |
Rs.000's |
Retained |
earnings |
Rs.000's |
Total |
equity |
Rs.000's |
Total comprehensive income for the period |
Net profit for the period |
Other comprehensive income, net of tax |
Total comprehensive income for the period |
Balance as at 30thJune 2024 |
Balance as at 1stApril 2024 507,047 14,909 191,911 7,000 2,900,805 3,621,672
- | - | - | - | 109,192 | 109,192 |
- | - | - | - | - | - |
- | - | - | - | 109,192 | 109,192 |
First and final dividend 2023/24 |
Total distributions to equity holders |
Balance as at 31stMarch 2024 |
Total comprehensive income for the period
Net profit for the period |
Other comprehensive income, net of tax |
Total comprehensive income for the period |
Contributions by and distributions to equity holders |
- | - | - | 378,795 | 378,795 | |
- | - | 37,056 | - | (11,823) | 25,233 |
- | - | 37,056 | - | 366,972 | 404,028 |
- | - | - | - | (287,908) | (287,908) | |
- | - | - | - | (287,908) | (287,908) | |
507,047 | 14,909 | 228,967 | 7,000 | 3,089,061 | 3,846,984 | |
Balance as at 1stApril 2024 | 507,047 | 14,909 | 228,967 | 7,000 | 3,089,061 | 3,846,984 |
- | - | - | - | 82,881 | 82,881 |
- | - | - | - | - | - |
- | - | - | - | 82,881 | 82,881 |
Total comprehensive income for the period |
Net profit for the period |
Other comprehensive income, net of tax |
Total comprehensive income for the period |
Contributions by and distributions to equity holders |
First and final dividend payable 2024/25 |
Total distributions to equity holders |
- - - - (287,908) (287,908)
- - - - (287,908) (287,908)
Balance as at 30th June 2025 507,047 14,909 228,967 7,000 2,884,034 3,641,957
Figures in brackets indicate deductions.
C. W. Mackie PLC |
Cash Flow Statement |
2024 |
Rs. 000's |
2024 |
Rs. 000's |
Cash flows from operating activities |
Profit before taxation |
Adjustments for : |
Depreciation and amortisation |
Profit on disposal of property, plant and equipment |
Provision for retirement benefit obligation |
Amortisation of deferred income |
Finance income |
Finance costs |
Unrealised (profit)/loss on inventory |
Share of joint venture's profit |
Provision for slow moving inventories |
Reversal of provision for impairment of non trade related party receivables |
Provision for impairment of trade receivables |
Operating profit before working capital changes |
For the period ended 30 thJune
Group CompanyChanges in working capital |
Change in inventories |
Change in trade and other receivables |
Change in related party receivables |
Change in interest bearing short-term loan to related parties |
Change in trade and other payables |
Change in related party payables |
Cash generated from operations |
Interest paid |
Payments to gratuity fund |
Income tax paid |
Net cash flows from operating activities |
Cash flows from/(used in) investing activities |
Purchase of property, plant and equipment |
Proceeds from disposal of property, plant and equipment |
Net cash flows used in investing activities |
Cash flows from/(used) in financing activities |
Rrepayment of short term borrowings |
Obtained/(repayment) of long term borrowings |
Lease rental paid |
Interest received |
Net cash flows used in financing activities |
Net changes in cash and cash equivalents |
Cash and cash equivalents at the beginning of the period |
Cash and cash equivalents at the end of the period (Note A) |
Note A |
Cash and cash equivalents |
Bank overdrafts |
2025 |
Rs. 000's 129,953 40,056 (4,257) 6,923 (1,796) (2,998) 111,496 (2,453) 9,163 3,533 -1,610 |
291,230 220,155 604,579 (18,454) 51,501 (554,152) (346,366) |
248,493 |
(106,761) (24,164) (31,164) |
86,404 (12,012) 14,077 |
2,065 (1,649,876) 1,485,584 (12,396) 2,998 |
(173,690) (85,221) (223,068) |
(308,289) |
125,798 (434,087) |
(308,289) |
2025 |
Rs. 000's 119,381 27,992 (20) 4,464 (1,730) (10,461) 101,127 -9,163 3,958 -1,701 |
255,575 100,752 662,005 (129,089) -(392,570) (341,331) |
155,342 |
(96,392) (19,238) (30,719) |
8,993 (11,070) 9,840 |
(1,230) (1,639,876) 1,492,812 (12,396) 10,461 |
(148,999) (141,236) (171,434) |
(312,670) |
83,962 (396,632) |
(312,670) |
Figures in brackets indicate deductions.
119,072
40,634 |
- |
6,403 |
(1,609) |
(3,429) |
96,235 |
489 |
(28,435) |
8,594 |
- |
4,830 |
242,784 |
359,104 |
160,131 |
257 |
- |
(68,402) |
(425,266) |
268,608 |
(90,344) |
- |
(28,559) |
149,705 |
(20,848) |
- |
(20,848) |
(120,068) |
(14,416) |
(15,316) |
3,429 |
(146,371) |
(17,514) |
(195,714) |
(213,228) |
218,095 |
(431,323) |
(213,228) |
139,492
30,207 |
- |
4,289 |
(1,543) |
(4,524) |
85,430 |
- |
(28,435) |
9,294 |
- |
4,830 |
239,040 |
319,329 |
188,922 |
1,392 |
- |
(6,684) |
(538,281) |
203,718 |
(79,539) |
- |
(22,022) |
102,157 |
(5,611) |
- |
(5,611) |
(205,068) |
(7,188) |
(15,316) |
4,524 |
(223,048) |
(126,502) |
(168,733) |
(295,235) |
68,706 |
(363,941) |
(295,235) |
C. W. Mackie PLC |
Notes to the Interim Financial Statements |
1. | Segmental Information - Group |
2025 |
Rs.000's 2,207,620 439,606 857,022 2,341,827 |
5,846,075 |
Commodity trading
Rubber based products manufacturing Industrial products
Consumer goods
Revenue2024 |
Rs.000's |
2024 |
Rs.000's |
Other operating income |
Operating overheads |
Share of joint venture's profit/(loss) |
Finance income |
Finance costs |
Income tax expense |
Profit for the period |
46,923 |
(561,805) |
28,435 |
11,687 |
(96,235) |
(30,300) |
88,772 |
2. | Basis of Preparation |
2025 |
Rs.000's 94,978 30,941 267,437 445,429 |
838,785 |
19,193 (617,207) (9,163) 9,841 (111,496) (36,500) |
93,453 |
2,632,844 |
328,686 |
767,046 |
1,997,810 |
5,726,386 |
78,809 |
18,122 |
230,147 |
362,989 |
690,067 |
The interim financial statements have been prepared in compliance with Sri Lanka Accounting Standard LKAS 34 -Interim Financial Reporting and provide the information required by the Listing Rules of the Colombo Stock Exchange.
The interim financial statements for the period ended 30thJune 2025, includes "the Company" referring to C. W. Mackie PLC, as the holding Company and "the Group" referring to the companies whose accounts have been consolidated
The interim condensed consolidated financial statements do not include all the information and disclosures required in the annual financial statements, and should be read in conjunction with the Group's annual consolidated financial statements as at 31stMarch 2025.
The presentation and classification of the interim financial statements of the previous period have been amended, where relevant, for better presentation and to be comparable with those of the current period.
3. | Contingent Liabilities and Capital Commitments |
There is no significant change neither in the nature of the contingent liabilities nor in the capital commitments, which were disclosed in the Annual Report for the year ended 31stMarch 2025.
4. | Events After the Reporting Date |
The Crown Lease Agreement in respect of the Company's Head Office premises at Nos. 34 and 36, D. R. Wijewardena Mawatha, Colombo 10 expired on 10thJune 2024 and the Company is in the process of negotiation.
Subsequent to the date of the reporting, no circumstances have arisen that would require adjustment to or disclosure in the interim financial statements other than disclosed above.
5. | Dividend |
First and final dividend of Rs.8/- per ordinary share amounting to Rs.287,908,448/- for the financial year ended 31stMarch 2025 authorised for distribution by the Directors was approved by the shareholders of the Company at the Annual General Meeting held on 27thJune 2025 and paid to the Shareholders by 18thJuly 2025.
C. W. Mackie PLC |
Notes to the Interim Financial Statements (Contd.) |
6 | Share Information | |
6.1 | Twenty Largest Shareholders as at 30thJune 2025 | |
Name of Shareholder | No. of Ordinary | % | |
Shares | |||
(Voting) | |||
1 | Lankem Ceylon PLC | 16,006,441 | 44.48 |
2 | Sampath Bank PLC/Senthilverl Holdings (Private) Limited | 8,714,237 | 24.21 |
3 | Union Bank of Colombo PLC/Lankem Ceylon PLC | 2,137,526 | 5.94 |
4 | Pan Asia Banking Corporation PLC /Lankem Ceylon PLC | 1,379,285 | 3.83 |
5 | HNB Investment Bank (Private) Limited/Union Investment (Private) Limit | 950,000 | 2.64 |
6 | Renuka Hotels PLC | 400,000 | 1.11 |
7 | Corporate Holdings (Private) Limited Account No. 1 | 312,212 | 0.87 |
8 | Seylan Bank PLC/Phantom Investments (Private) Limited | 288,402 | 0.80 |
9 | Mr. D. N. P. Rathnayake | 288,352 | 0.80 |
10 | Mr. J.D. Bandaranayake & Ms. N. Bandaranayake | 261,217 | 0.73 |
11 | Mr. J.D. Bandaranayake & Dr. (Mrs) V. Banadaranayake | 255,130 | 0.71 |
12 | Colombo Fort Investments PLC | 255,000 | 0.71 |
13 | Trading Partners (Private) Limited | 250,000 | 0.69 |
14 | Colombo Investment Trust PLC | 240,000 | 0.67 |
15 | Cargo Boat Development Company PLC | 200,000 | 0.56 |
16 | Mr. P. P. Andararaja | 155,100 | 0.43 |
17 | Mr. M. A. Lukmanjee | 155,000 | 0.43 |
18 | Oakley Investments (Private) Limited | 153,239 | 0.43 |
19 | Mr. H. A. R. Pieris | 120,000 | 0.33 |
20 | Macksons Holdings (Private) Limited | 110,603 | 0.31 |
6.2 | Public Holding |
Percentage of public holding Number of public shareholders | As at |
30thJune 2025 | |
15.62% | |
2,754 |
6.3 | The float adjusted market capitalisation of the Company as at 30thJune 2025 is Rs.698,460,496/56. |
6.4 | The Float adjusted market capitalization of the Company falls under Option 2 of Rule 7.13.1(b) of the Listing Rules of the Colombo Stock Exchange and the Company has complied with the minimum public holding requirement applicable under the said option. |
6.5 | Directors' Holding in Shares |
Name of Director | No. of Shares | No. of Shares |
As at | As at | |
30thJune 2025 | 30thJune 2024 | |
Hemaka Amarasuriya (Chairman/CEO) Ms. C. R. Ranasinghe Anushman Rajaratnam S. D. R. Arudpragasam Dr. T. Senthilverl K. T. A. Mangala Perera H. Manil A. Jayesinghe Indrajit A. Wickramasinghe Shrihan B. Perera | 500 | 500 |
100 | 100 | |
Nil | Nil | |
Nil | Nil | |
Nil | 1,812,840 | |
Nil | Nil | |
Nil | Nil | |
Nil | Nil | |
Nil | Nil |
6.6 | Share Price |
Highest Price Lowest Price Last Traded Price | 3 months to | 3 months to |
30thJune 2025 | 30thJune 2024 | |
Rs. | Rs. | |
134.50 | 106.00 | |
101.25 | 93.70 | |
124.25 | 104.75 |
C. W. Mackie PLC |
Notes to the Interim Financial Statements (Contd.) |
6 | Share Information (Cont'd…) |
6.7 | Stated Capital of the Company represents 35,988,556 ordinary shares. |
Signed |
H. D. S Amarasuriya |
Chairman/Chief Executive Officer |
Signed |
C. R. Ranasinghe |
Director/Company Secretary |
Colombo,12thAugust 2025
REGISTERED OFFICE |
36, D. R. Wijewardena Mawatha, Colombo 10. |
Telephone : 2423554 - 62 Fax: 2440228 |
E-mail : info@cwmackie.com |
website : https://www.cwmackie.com |
DIRECTORS |
Hemaka Amarasuriya, Ms. C. R. Ranasinghe, Anushman Rajaratnam |
S. D. R. Arudpragasam, Dr. T. Senthilverl, K. T. A. Mangala Perera, H. Manil A. Jayesinghe, |
Indrajit A. Wickramasinghe, Shrihan B. Perera. |