Interim Financial Statements
For the period ended 30 September 2024
Citizens Development Business Finance PLC
CITIZENS DEVELOPMENT BUSINESS FINANCE PLC | 30 September 2024 | |||
Interim Financial Statements | ||||
Statement of Profit or Loss and Other Comprehensive Income | ||||
For the quarter ended | For the six months ended | |||
30 September | 30 September | |||
2024 Rs. '000
2023 | Change |
Rs. '000 | % |
2024 Rs. '000
2023 | Change |
Rs. '000 | % |
Revenue | 6,487,980 | 5,660,379 | 15% |
Interest income | 5,728,151 | 5,263,670 | 9% |
Less: Interest expense | 2,845,002 | 3,348,330 | -15% |
Net interest income | 2,883,149 | 1,915,340 | 51% |
Fee and commission income | 64,193 | 60,138 | 7% |
Other operating income | 695,636 | 336,571 | 107% |
Total operating income | 3,642,978 | 2,312,049 | 58% |
Less : Impairment charges and other credit losses | (92,419) | 217,859 | -142% |
Net operating income | 3,735,397 | 2,094,190 | 78% |
Less : Operating expenses | |||
Personnel expenses | 651,977 | 495,767 | 32% |
Premises, equipment and establishment expenses | 897,151 | 724,077 | 24% |
Other expenses | 212,449 | 116,129 | 83% |
Total operating expenses | 1,761,577 | 1,335,973 | 32% |
Operating profit before taxes on financial services | 1,973,820 | 758,217 | 160% |
Less : Taxes on financial services | 607,975 | 157,000 | 287% |
Profit before tax | 1,365,845 | 601,217 | 127% |
Less : Income tax expense | 405,000 | 181,000 | 124% |
Profit for the period | 960,845 | 420,217 | 129% |
Other comprehensive income | |||
Items that are or may be reclassified subsequently to profit or loss | |||
Fair value changes in hedge reserve | - | (63,507) | 100% |
Items that will not be reclassified to profit or loss | |||
Financial investments at FVOCI - net change in fair value | (129,975) | 235,949 | -155% |
Net actuarial gain/ (loss) on defined benefit plan | (6,000) | (6,000) | 0% |
Total other comprehensive income | (135,975) | 166,442 | -182% |
Total comprehensive income for the period | 824,870 | 586,659 | 41% |
Earnings per share | |||
Basic earnings per share (Rs.) | 13.56 | 6.01 | |
Diluted earnings per share (Rs.) * | 13.20 | 5.77 | |
12,672,418 | 11,250,406 | 13% |
11,316,525 | 10,529,779 | 7% |
5,813,141 | 6,945,695 | -16% |
5,503,384 | 3,584,084 | 54% |
128,462 | 114,676 | 12% |
1,227,431 | 605,951 | 103% |
6,859,277 | 4,304,711 | 59% |
45,821 | 540,612 | -92% |
6,813,456 | 3,764,099 | 81% |
1,291,474 | 995,074 | 30% |
1,673,429 | 1,409,530 | 19% |
371,818 | 213,214 | 74% |
3,336,721 | 2,617,818 | 27% |
3,476,735 | 1,146,281 | 203% |
1,052,975 | 245,000 | 330% |
2,423,760 | 901,281 | 169% |
711,000 | 251,000 | 183% |
1,712,760 | 650,281 | 163% |
- | (94,120) | 100% |
(20,951) | 362,082 | -106% |
(12,000) | (12,000) | 0% |
(32,951) | 255,962 | -113% |
1,679,809 | 906,243 | 85% |
24.17 9.31
23.54 8.94
Figures in brackets indicate deductions.
The above figures are subject to audit unless specified.
* Diluted EPS has computed considering the effect of employee share option scheme.
01
CITIZENS DEVELOPMENT BUSINESS FINANCE PLC | 30 September 2024 |
Interim Financial Statements
Statement of Financial Position
As at
30-09-2024 Rs. '000
Audited 31-03-2024 Rs. '000
Assets | ||
Cash and cash equivalents | 3,177,285 | 3,642,333 |
Loans and receivables to banks | 7,013,372 | 8,013,219 |
Deposits with financial institutions | 14,428,512 | 14,908,971 |
Loans and receivables to customers | 96,972,567 | 85,963,874 |
Other investment securities | 10,307,638 | 7,126,742 |
Investment property | 560,375 | 535,000 |
Property, plant and equipment | 3,833,838 | 3,402,042 |
Right-of-use assets | 931,977 | 880,741 |
Intangible assets | 311,065 | 308,553 |
Goodwill on amalgamation | 19,628 | 19,628 |
Other assets | 4,174,828 | 3,976,882 |
Total assets | 141,731,085 | 128,777,985 |
Liabilities | ||
Due to banks and financial institutions | 28,624,436 | 27,849,165 |
Deposits from customers | 80,752,556 | 73,258,779 |
Debt securities issued and subordinated debt | 6,015,378 | 2,788,338 |
Lease liabilities | 970,409 | 912,177 |
Current tax liabilities | 1,620,426 | 1,289,562 |
Deferred tax liabilities | 560,581 | 560,581 |
Retirement benefit obligation | 18,419 | 66,419 |
Other liabilities | 1,767,332 | 1,845,126 |
Total liabilities | 120,329,537 | 108,570,147 |
Equity | ||
Stated capital | 2,550,492 | 2,550,492 |
Reserves | 5,792,041 | 5,806,374 |
Retained earnings | 13,059,015 | 11,850,972 |
Total equity | 21,401,548 | 20,207,838 |
Total liabilities and equity | 141,731,085 | 128,777,985 |
Net assets value per share (Rs.) | 302.07 | 285.22 |
Contingencies and commitments | 5,787,716 | 6,012,503 |
The above figures are subject to audit unless specified.
The financial statements are in compliance with the requirements of the Companies Act No. 7 of 2007 and Finance Business Act No. 42 of 2011.
Sgd.
Ruwan Chandrajith
Chief Financial Officer
The Board of Directors is responsible for the preparation and the presentation of these Financial Statements. Approved and signed for and on behalf of the Board
Sgd. | Sgd. |
J R Alastair Corera | C M Nanayakkara |
Chairman | Managing Director/CEO |
16 October 2024 | |
Colombo |
02
CITIZENS DEVELOPMENT BUSINESS FINANCE PLC | 30 September 2024 | |||||||||||
Interim Financial Statements | ||||||||||||
Statement of Changes in Equity | ||||||||||||
Reserves | ||||||||||||
Stated | Other Capital | Revaluation | Fair Value | Hedge Reserve | Statutory | Regulatory | Retained | Total | ||||
Reserve | Reserve | Reserve | ||||||||||
Capital | Reserve | Loss allowance | Earnings | Equity | ||||||||
Fund | Reserve | |||||||||||
Rs. '000 | Rs. '000 | Rs. '000 | Rs. '000 | Rs. '000 | Rs. '000 | Rs. '000 | Rs. '000 | Rs. '000 | ||||
Balance as at 1 April 2023 | 2,361,947 | 30,854 | 761,406 | (114,307) | 102,705 | 2,143,943 | 1,606,402 | 11,297,271 | 18,190,221 | |||
Total comprehensive income for the period | ||||||||||||
Profit for the period | 650,281 | 650,281 | ||||||||||
Other comprehensive income for the period | ||||||||||||
Fair Value Changes in Hedge Reserve | (94,120) | (94,120) | ||||||||||
Financial investments at FVOCI - net change in fair value | 362,082 | 362,082 | ||||||||||
Remeasurement of define benefit liability / (asset) | (12,000) | (12,000) | ||||||||||
Transactions with equity holders of the Company | ||||||||||||
Employee share option plan | 4,736 | (964) | 3,772 | |||||||||
Exercise of share options | ||||||||||||
Dividend to equity holders for the period - 2022/23 | (349,280) | (349,280) | ||||||||||
Transfers during the period | (2,967) | 806,969 | (804,002) | |||||||||
Balance as at 30 September 2023 | 2,366,683 | 29,890 | 761,406 | 244,808 | 8,585 | 2,143,943 | 2,413,371 | 10,782,270 | 18,750,956 | |||
Balance as at 1 April 2024 | 2,550,492 | 7,552 | 761,406 | 20,554 | - | 2,647,053 | 2,369,809 | 11,850,972 | 20,207,838 | |||
Total comprehensive income for the | period | |||||||||||
Profit for the period | 1,712,760 | 1,712,760 | ||||||||||
Other comprehensive income for the period | ||||||||||||
Financial investments at FVOCI - net change in fair value | (20,951) | (20,951) | ||||||||||
Remeasurement of define benefit liability / (asset) | (12,000) | (12,000) | ||||||||||
Transactions with equity holders of the Company | ||||||||||||
Exercise of share option | 9,854 | 9,854 | ||||||||||
Dividend to equity holders for the period - 2023/24 | (495,953) | (495,953) | ||||||||||
Transfers during the period | (15,050) | 11,814 | 3,236 | - | ||||||||
Balance as at 30 September 2024 | 2,550,492 | 17,406 | 761,406 | (15,447) | - | 2,647,053 | 2,381,623 | 13,059,015 | 21,401,548 | |||
Figures in brackets indicate deductions. | ||||||||||||
03 | ||||||||||||
CITIZENS DEVELOPMENT BUSINESS FINANCE PLC | 30 September 2024 |
Interim Financial Statements
Statement of Cash Flows
For the six months ended
30-09-2024 Rs. '000
30-09-2023 Rs. '000
Cash flow from operating activities | ||
Interest receipts | 12,163,646 | 10,534,456 |
Commission receipts | 120,481 | 137,913 |
Other income receipts | 1,182,136 | 581,896 |
Interest payments | (6,131,476) | (7,530,290) |
Fee and business promotion expenses | (284,928) | (145,819) |
Employee related payments | (1,241,474) | (945,074) |
Supplier payments | (2,255,492) | (875,276) |
Financial expenses | (14,367) | (10,098) |
Operating profit before changes in operating assets | 3,538,526 | 1,747,708 |
(Increase)/Decrease in operating assets | ||
Investments in financial institutions | 1,480,306 | 544,630 |
Investment in Government Securities | - | 51,137 |
Net funds advanced to customers | (11,901,635) | (1,524,879) |
Changes in other short-term assets | (411,893) | (206,271) |
Changes in inventories | 205,966 | (184,007) |
(10,627,256) | (1,319,390) | |
Increase/(Decrease) in operating liabilities | ||
Net borrowings | 775,271 | (3,140,405) |
Net deposits from customers | 7,812,112 | 3,315,602 |
8,587,383 | 175,197 | |
Net Cash Generated from / (used in) operating activities | 1,498,653 | 603,515 |
Contribution to plan asset | (110,000) | - |
Taxation | (944,507) | (1,021,683) |
444,146 | (418,168) | |
Cash flow from investing activities | ||
Dividend receipts | 45,770 | 44,207 |
Proceed from employee share options | - | 3,772 |
Proceed /(Investment) in other investment securities | (3,180,896) | 828,427 |
Purchase of property, plant and equipment | (457,171) | (140,272) |
Proceed from sale of property, plant and equipment | 45,770 | 2,500 |
Net cash from / (used in) investing activities | (3,546,527) | 738,634 |
Cash flow from financing activities | ||
Dividend paid | (495,953) | (349,280) |
Net change in debentures | 3,227,040 | (491,964) |
Net cash inflows/ (outflows) from financing activities | 2,731,087 | (841,244) |
Net increase/(decrease) in cash and cash equivalents | (371,294) | (520,778) |
Cash and cash equivalents at the beginning of the period | 3,448,973 | 2,543,572 |
Cash and cash equivalents at the end of the period | 3,077,679 | 2,022,794 |
Cash and cash equivalents at the beginning of the period | ||
Cash at bank and cash in hand | 3,642,333 | 3,267,193 |
Bank overdrafts | (193,360) | (723,621) |
3,448,973 | 2,543,572 | |
Cash and cash equivalents at the end of the period | ||
Cash at bank and cash in hand | 3,177,285 | 2,936,797 |
Bank overdrafts | (99,606) | (914,003) |
3,077,679 | 2,022,794 |
Figures in brackets indicate deductions.
04
CITIZENS DEVELOPMENT BUSINESS FINANCE PLC | 30 September 2024 |
Interim Financial Statements
Segmental Analysis
Lease and stock out on hire | Loans and advances | Others | Total |
30-09-2024 Rs. '000
30-09-2023 Rs. '000
30-09-2024 Rs. '000
30-09-2023 Rs. '000
30-09-2024 Rs. '000
30-09-2023 Rs. '000
30-09-2024 Rs. '000
30-09-2023 Rs. '000
Interest | 5,360,786 | 5,474,143 | 3,638,844 | 3,850,496 | 2,316,895 | 1,205,140 | 11,316,525 | 10,529,779 | ||
Non interest income | 1,355,893 | 720,627 | ||||||||
Segmented revenue | 5,360,786 | 5,474,143 | 3,638,844 | 3,850,496 | 2,316,895 | 1,205,140 | 12,672,418 | 11,250,406 | ||
Total revenue | 5,360,786 | 5,474,143 | 3,638,844 | 3,850,496 | 2,316,895 | 1,205,140 | 12,672,418 | 11,250,406 | ||
Unallocated expenses | 10,248,658 | 10,349,125 | ||||||||
Profit from operations | 2,423,760 | 901,281 | ||||||||
Income tax expenses | 711,000 | 251,000 | ||||||||
Profit for the period | 1,712,760 | 650,281 | ||||||||
Segmented assets | 57,048,413 | 49,902,865 | 39,924,154 | 27,553,614 | 34,926,807 | 17,468,462 | 131,899,374 | 94,924,941 | ||
Unallocated assets | 9,831,711 | 9,365,619 | ||||||||
Total assets | 57,048,413 | 49,902,865 | 39,924,154 | 27,553,614 | 34,926,807 | 17,468,462 | 141,731,085 | 104,290,560 | ||
05 | ||||||||||
CITIZENS DEVELOPMENT BUSINESS FINANCE PLC | 30 September 2024 |
Interim Financial Statements
Fair Value Measurement
30-09-2024
31-03-2024 (Audited)
Level 1
Rs. '000
Level 2
Rs. '000
Level 3
Rs. '000
Total
Rs. '000
Level 1
Rs. '000
Level 2
Rs. '000
Level 3
Rs. '000
Total
Rs. '000
Financial assets | ||||||||
Other investment securities | ||||||||
- Equity Instruments - Quoted Shares | 1,970,281 | 1,970,281 | 1,956,733 | 1,956,733 | ||||
- Equity Instruments - Unquoted Shares | - | 37,910 | 37,910 | 124 | 124 | |||
Total financial assets disclosed at fair value | 1,970,281 | - | 37,910 | 2,008,191 | 1,956,733 | 124 | - | 1,956,857 |
Other non-financial assets | ||||||||
Property Plant and Equipment - Free hold land | 2,256,634 | 2,256,634 | 2,184,251 | 2,184,251 | ||||
Total non-financial assets disclosed at fair value | - | - | 2,256,634 | 2,256,634 | - | - | 2,184,251 | 2,184,251 |
Assets not disclosed at fair value | 137,466,260 | 124,636,877 | ||||||
Total assets | 1,970,281 | 2,294,544 | 141,731,085 | 1,956,733 | 124 | 2,184,251 | 128,777,985 | |
Financial liabilities | ||||||||
Liabilities not disclosed at fair value | 120,329,537 | 108,570,147 | ||||||
Total liabilities | - | - | 120,329,537 | - | - | - | 108,570,147 | |
Level 1 : Inputs that are quoted market prices (unadjusted) in active markets for identical instruments.
Level 2 : Inputs other than quoted prices included within Level 1 that are observable either directly or indirectly.
Level 3 : Inputs that are unobservable.
06
CITIZENS DEVELOPMENT BUSINESS FINANCE PLC | 30 September 2024 | ||||
Interim Financial Statements | |||||
Shareholders' Information | |||||
TWENTY LARGEST SHAREHOLDERS AS AT 30 September 2024 | |||||
Ordinary Voting Shares | |||||
No | NAME | SHAREHOLDING | (%) | ||
1 | CEYLINCO LIFE INSURANCE LIMITED ACCOUNT NO.3 | 19,120,225 | 31.60 | ||
2 | JANASHAKTHI INSURANCE PLC-SHAREHOLDERS | 11,991,722 | 19.82 | ||
3 | SAMPATH BANK PLC/ASIA MANAGEMENT CONSULTANCY (PRIVATE) LIMITED | 3,442,463 | 5.69 | ||
4 | ASIA MANAGEMENT CONSULTANCY (PVT)LTD | 2,816,576 | 4.65 | ||
5 | CITIZENS DEVELOPMENT BUSINESS FINANCE PLC A/C 02 (CDB EMPLOYEE GRATUITY FUND) | 2,722,408 | 4.50 | ||
6 | CEYLINCO INSURANCE PLC A/C NO 2 (GENERAL FUND) | 2,379,654 | 3.93 | ||
7 | PEOPLE'S LEASING & FINANCE PLC / MR.W.P.C.M.NANAYAKKARA | 2,146,594 | 3.55 | ||
8 | ASEKI INSURANCE BROKERS (PVT) LTD | 1,486,975 | 2.46 | ||
9 | CEYLINCO LIFE INSURANCE LIMITED ACCOUNT NO.1 | 1,423,548 | 2.35 | ||
10 | PEOPLE S LEASING AND FINANCE PLC/S.V.MUNASINGHE | 1,385,253 | 2.29 | ||
11 | PEOPLE S LEASING AND FINANCE PLC/R.H.ABEYGOONEWARDENA&V.F.ABEYGOONEWARDENA | 1,373,666 | 2.27 | ||
12 | SEYLAN BANK PLC/TENNAKOON MUDIYANSELAGE DAMITH PRASANNA TENNAKOON | 1,200,888 | 1.98 | ||
13 | CEYLINCO LIFE INSURANCE LIMITED ACCOUNT NO.2 | 954,323 | 1.58 | ||
14 | PEOPLE'S LEASING & FINANCE PLC/MRS.N.D.KODAGODA | 551,413 | 0.91 | ||
15 | PEOPLE'S LEASING & FINANCE PLC/MR.I.M.KOTIGALA | 302,798 | 0.50 | ||
16 | PEOPLE'S LEASING & FINANCE PLC/MR. H.K. DASSANAYAKE | 299,115 | 0.49 | ||
17 | PEOPLE'S LEASING & FINANCE PLC / T. M. D. P. TENNAKOON | 257,846 | 0.43 | ||
18 | MR. A.A.S. KUMARA | 256,335 | 0.42 | ||
19 | MR. J.S. RANATHUNGA | 252,163 | 0.42 | ||
20 | MRS. A.I. PANAGODA | 230,602 | 0.38 | ||
Sub total of Top 20 Share Holders | 54,594,567 | 90.22 | |||
5,912,187 | 9.78 | ||||
Total | 60,506,754 | 100.00 | |||
The percentage of shares held by the public as at 30 September 2024 is 45.17% (with 1,552 public share holders) | |||||
Ordinary Non Voting Shares | |||||
No | NAME | SHAREHOLDING | (%) | ||
1 | J.B. COCOSHELL (PVT) LTD | 1,630,271 | 15.76 | ||
2 | DEUTSCHE BANK AG AS TRUSTEE FOR JB VANTAGE VALUE EQUITY FUND | 1,381,493 | 13.36 | ||
3 | MR. A.M. WEERASINGHE | 623,682 | 6.03 | ||
4 | MR. Y.H. ABDULHUSSEIN | 418,433 | 4.05 | ||
5 | MISS R.H. ABDULHUSSEIN | 365,056 | 3.53 | ||
6 | MR. M.A. JAFFERJEE | 356,380 | 3.45 | ||
7 | ESSAJEE CARIMJEE INSURANCE BROKERS (PVT) LTD | 347,038 | 3.36 | ||
8 | ODYSSEY CAPITAL PARTNERS (PRIVATE) LIMITED | 314,737 | 3.04 | ||
9 | PEOPLE'S LEASING & FINANCE PLC/MR.H.M. ABDULHUSSEIN | 300,402 | 2.90 | ||
10 | MR. A. SITHAMPALAM | 196,509 | 1.90 | ||
11 | A.M. ESUFALLY | 165,375 | 1.60 | ||
12 | MR. S.M.P.L. JAYARATNE | 133,966 | 1.30 | ||
13 | GOLD INVESTMENT LIMITED. | 108,009 | 1.04 | ||
14 | JAFFERJEES INVESTMENTS (PVT) LTD. | 108,009 | 1.04 | ||
15 | MR. M.A. VALABHJI | 108,009 | 1.04 | ||
16 | COMMERCIAL BANK OF CEYLON PLC A/C NO. 04 | 105,390 | 1.02 | ||
17 | LAKDHANAVI LIMITED | 103,359 | 1.00 | ||
18 | MR. H.M. ABDULHUSSEIN | 102,104 | 0.99 | ||
19 | MR. N.K. D'ALWIS | 100,000 | 0.97 | ||
20 | MR. W.P.A.D. GUNATHILAKE | 100,000 | 0.97 | ||
Sub total of Top 20 Share Holders | 7,068,222 | 68.35 | |||
3,275,446 | 31.65 | ||||
Total | 10,343,668 | 100.00 |
The percentage of shares held by the public as at 30 September 2024 is 82.88% (with 1,922 public share holders)
07
CITIZENS DEVELOPMENT BUSINESS FINANCE PLC | 30 September 2024 | |||||||
Interim Financial Statements | ||||||||
Shareholders' Information | ||||||||
DIRECTORS' AND CHIEF EXECUTIVE OFFICER'S SHAREHOLDING AS AT 30 September 2024 | ||||||||
Ordinary Voting Shares | ||||||||
NAME | SHAREHOLDING | |||||||
MR. J.R.A. CORERA | 1,027 | |||||||
PEOPLE'S LEASING & FINANCE PLC/MR.J.R.A. CORERA | 21,622 | |||||||
MR W.P.C.M. NANAYAKKARA | 1,283 | |||||||
PEOPLE'S LEASING & FINANCE PLC / MR.W.P.C.M.NANAYAKKARA | 2,146,594 | |||||||
MR. T.M.D.P. TENNAKOON | - | |||||||
PEOPLE'S LEASING & FINANCE PLC/MR.T.M.D.P.TENNAKOON | 257,846 | |||||||
SEYLAN BANK PLC/TENNAKOON MUDIYANSELAGE DAMITH PRASANNA TENNAKOON | 1,200,888 | |||||||
MR. S.V. MUNASINGHE | - | |||||||
PEOPLE'S LEASING & FINANCE PLC/MR.S.V.MUNASINGHE | 1,385,253 | |||||||
MR. R.H. ABEYGOONEWARDENA / MRS. V.F. ABEYGOONEWARDENA | 5,652 | |||||||
PEOPLES'S LEASING & FINANCE PLC/ MR. R.H.ABEYGOONEWARDENA & V.F.ABEYGOONEWARDENA | 1,373,666 | |||||||
MR. D.A. DE SILVA | 60,380 | |||||||
DIALOG FINANCE PLC/D.A. DE SILVA | 117,550 | |||||||
MR. J.P. ABHAYARATNE | - | |||||||
MR. S.P.P. AMARATUNGE | - | |||||||
MRS. P.R.W. PERERA | - | |||||||
MR. S. KUMARAPPERUMA | - | |||||||
MR. E.R.S.G.S. HEMACHANDRA | - | |||||||
PROF P.N. GAMAGE | - | |||||||
MRS. J. LOKULIYANA | - | |||||||
Total | 6,571,761 | |||||||
Ordinary Non Voting Shares | ||||||||
NAME | SHAREHOLDING | |||||||
MR. J.R.A. CORERA | 10,335 | |||||||
MR W.P.C.M. NANAYAKKARA | 56 | |||||||
MR. T.M.D.P. TENNAKOON | - | |||||||
MR. S.V. MUNASINGHE | - | |||||||
MR. R.H. ABEYGOONEWARDENA / MRS. V.F. ABEYGOONEWARDENA | 82,842 | |||||||
PEOPLES'S LEASING & FINANCE PLC/ MR. R.H. & MRS. V.F.ABEYGOONEWARDENA | 37,850 | |||||||
MR. D.A. DE SILVA | - | |||||||
MR. J.P. ABHAYARATNE | - | |||||||
MR. S.P.P. AMARATUNGE | - | |||||||
MRS. P.R.W. PERERA | - | |||||||
MR. S. KUMARAPPERUMA | - | |||||||
MR. E.R.S.G.S. HEMACHANDRA | - | |||||||
PROF P.N. GAMAGE | - | |||||||
MRS. J. LOKULIYANA | - | |||||||
Total | 131,083 | |||||||
MARKET PRICES FOR THE QUARTER ENDED 30 September 2024 | ||||||||
Ordinary Voting Shares | Ordinary Non Voting Shares | |||||||
30/09/2024 | 30/09/2023 | 30/09/2024 | 30/09/2023 | |||||
Rs. | Rs. | Rs. | Rs. | |||||
Highest Price | 234.00 | 210.00 | 108.00 | 96.00 | ||||
Lowest Price | 196.00 | 180.25 | 92.10 | 71.50 | ||||
Last Traded | 197.50 | 200.00 | 103.00 | 81.90 | ||||
FLOATING ADJUSTED MARKET CAPITALIZATION AS AT | 30 September 2024 | |||||||
Number of | Market price per | Market | Percentage of | Floating Adjusted | ||||
Capitalization | Market | |||||||
shares | share | public holders | ||||||
(Rs.) | Capitalization | |||||||
Voting Share | 60,506,754 | 197.50 | 11,950,083,915 | 45.17% | 5,397,852,904 | |||
Non Voting Share | 10,343,668 | 103.00 | 1,065,397,804 | 82.88% | 883,001,700 | |||
Total Shares | 13,015,481,719 | 6,280,854,604 |
The Float adjusted market capitalization of the Company falls under Option 3 of Rule 7.13.1 (i) (a) 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
08
CITIZENS DEVELOPMENT BUSINESS FINANCE PLC | 30 September 2024 |
Interim Financial Statements
Explanatory Notes
- The Company has used the same accounting policies and method of computing described in the audited financial statements of the Company for 2023/24 in the preparation of these interim financial statements.
- As at 30 September 2024 stated capital represents 60,506,754 ordinary voting shares and 10,343,668 ordinary non voting shares.
- All known expenses have been provided in these financial statements and management fees are not applicable to the Company.
- During the period there were no material changes in the composition of assets, liabilities and contingent liabilities and there is no seasonality and cyclicality affecting the interim operation.
- Fitch Rating Lanka Ltd affirmed National Long-Term Rating at 'BBB(lka)' with a Stable Outlook. Fitch has also affirmed CDB's subordinated debt rating at 'BB+(lka)'
- Since 30 September 2024, there were no material events other than the above, that required adjustment or disclosure in these financial statements.
- These financial statements are prepared in accordance with the Sri Lanka Accounting Standard - LKAS 34 " Interim Financial Reporting".
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