Fortress Resorts PlcCSELK: RHTL.N0000

Interim Financial Statements for 1st Quarter ended 30th June 2025

Aug 14, 2025 at 11:09 AM UTC · Issued by Fortress Resorts Plc

‌THE FORTRESS RESORTS PLC

INTERIM FINANCIAL STATEMENTS FOR THE PERIOD ENDED

30TH JUNE 2025

‌THE FORTRESS RESORTS PLC
INTERIM FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30TH JUNE 2025
CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT 30TH JUNE
	As at	As at	Change
	30.06.2025	31.03.2025	%
		Audited
ASSETS	Rs. '000'	Rs. '000'
Non-Current Assets
Property, Plant & Equipment	1,364,402	1,149,993	19
Right of use Assets	37,052	37,529	(1)
Intangible Assets	2,883	3,063	(6)
	1,404,337	1,190,585	18
Current Assets
Inventories	38,868	31,967	22
Trade and Other Receivables	37,140	53,781	(31)
Advances and Prepayments	110,737	38,965	184
Short Term Deposits	662,064	1,029,645	(36)
Cash and Cash equivalants	67,846	65,520	4
	916,655	1,219,878	(25)
Total Assets	2,320,992	2,410,463	(4)
EQUITY AND LIABILITIES
Capital and Reserves
Stated Capital	1,108,867	1,108,867	-
Accumulated Profits	866,982	935,976	7
Equity attributable to Equity Holders of the Parent	1,975,849	2,044,843	3
Non Controlling Interest	1	1	-
Total Equity	1,975,850	2,044,844	3
Non-Current Liabilities
Interest Bearing Loans and Borrowings	65,815	64,553	(2)
Retirement Benefit Obligation	45,273	42,320	(7)
Deferred Tax Liability	33,999	33,999	-
	145,087	140,872	(3)
Current Liabilities
Trade and Other Payables	116,833	131,443	11
Contract Liabilities	54,483	36,815	(48)
Interest Bearing Loans and Borrowings	4,386	12,678	65
Income Tax Payables	24,353	43,811	44
	200,055	224,747	11

Total Equity and Liabilities	2,320,992	2,410,463	4
Net Asset Value per Share (Rs.)	17.82	18.44
I certify that these financial statements are in compliance with the requirements of the Companies Act No.7 of 2007
Sgd
Thilaksiri Dunuhinga
Chief Financial Officer
The Board of Directors is responsible for the preperation and presentaion of these Financial statements. Signed for and on behalf of the Board by,
Sgd	Sgd
K.D Weerasinghe	J.A.S.S Adhihetty
Director	Director
Colombo
14th August 2025
Note :The above figures for the interim period are not audited

‌THE FORTRESS RESORTS PLC
INTERIM FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30TH JUNE 2025
CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE PERIOD ENDED
30TH JUNE
	FOR 3 MONTHS ENDED		Change
	30.06.2025	30.06.2024	%
	Rs. '000'	Rs. '000'
Revenue	80,684	159,980	(50)
Cost of Sales	(55,640)	(64,509)	14
Gross Profit	25,044	95,471	(74)
Other Income and Gains	5,992	4,516	33
Advertising and Marketing Expenses	(12,103)	(11,528)	(5)
Administrative Expenses	(98,548)	(102,061)	3
Finance Cost	(1,985)	(1,885)	(5)
Finance Income	16,673	22,164	(25)
Profit/(Loss) before Tax	(64,927)	6,677	(1,072)
Income (Tax Expenses)	(4,067)	(5,978)	32
Profit/(Loss) for the period	(68,994)	699	(9,970)
Other Comprehensive Income/(loss)
Actuarial gain/(loss) on Defined Benefit Plan	-	-
Income tax effect	-	-
Net other comprehensive income/(loss) not to be reclassified to profit or loss in subsequent periods	-	-

Other comprehensive income/(loss) for the period ,net of tax	-	-

Total Comprehensive Income/(loss) for the period net of Tax	(68,994)	699	(9,970)
Profit/(loss) and total comprehensive income(loss) attributable to
Entire profit/(loss) and total comprehensive income/(loss) is attributable to the equity holders of the parent
Basic/Diluted Earnings/(loss) Per Share	(0.62)	0.01	(9,970)
Dividend per share	-	-
Note :The above figures for the interim period are not audited
: Figures in brackets indicate deductions

‌THE FORTRESS RESORTS PLC
INTERIM FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30TH JUNE 2025
COMPANY, STATEMENT OF FINANCIAL POSITION AS AT 30TH JUNE
	As at	As at	Change
	30.06.2025	31.03.2025	%
		Audited
ASSETS	Rs. '000'	Rs. '000'
Non-Current Assets
Investment In Subsidiary	1,000,010	1,000,010	-
	1,000,010	1,000,010	-
Current Assets
Other Receivables	72,474	76,065	(5)
Cash and Cash Equivalents	42	42	-
	72,516	76,107	(5)
Total Assets	1,072,526	1,076,117	-
EQUITY AND LIABILITIES
Capital and Reserves
Stated Capital	1,108,867	1,108,867	-
Accumilated Profits/(losses)	(38,233)	(34,807)	10
Total Equity	1,070,634	1,074,060	-
Non-Current Liabilities
Interest Bearing Loans and Borrowings	-	-
Retirement Benefit Obligation	-	-
	-	-	-
Current Liabilities
Trade & Other Payables	1,892	2,057	8
Bank Overdraft	-	-	-
	1,892	2,057	8
Total Equity and Liabilities	1,072,526	1,076,117	-
Net Asset value per share (Rs.)	9.66	9.69
I certify that these financial statements are in compliance with the requirements of the Companies Act No.7 of 2007
Sgd
Thilaksiri Dunuhinga
Chief Financial Officer
The Board of Directors is responsible for the preperation and presentaion of these Financial statements. Signed for and on behalf of the Board by,
Sgd	Sgd
K.D Weerasinghe	J.A.S.S Adhihetty
Director	Director
Colombo
14th August 2025
Note :The above figures for the interim period are not audited

‌THE FORTRESS RESORTS PLC
INTERIM FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30TH JUNE 2025
COMPANY, STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE PERIOD ENDED
30TH JUNE
	FOR 3 MONTHS ENDED		Change
	30.06.2025	30.06.2024	%
	Rs. '000'	Rs. '000'
Revenue	-	-	-
Cost of Sales	-	-	-
Gross Profit	-	-	-
Other Income and Gains	-	-	-
Advertising and Marketing Expenses	-	-
Administrative Expenses	(3,426)	(1,576)	(117)
Finance Cost	-	-	-
Finance Income	-	-	-
Profit/(Loss) before Tax	(3,426)	(1,576)	(117)
Income Tax Expenses	-	-	-
Profit /(Loss) for the period	(3,426)	(1,576)	(117)
Other Comprehensive Income/(Loss)
Total Comprehensive Income/(Loss) for the period	(3,426)	(1,576)	(117)
Basic /Diluted Earnings / (Loss) per share for the period	(0.03)	(0.01)	(117)
Dividend per share	-	-
Note :The above figures for the interim period are not audited
: Figures in brackets indicate deductions

‌THE FORTRESS RESORTS PLC
INTERIM FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30TH JUNE 2025
STATEMENT OF CHANGES IN EQUITY FOR THE PERIOD ENDED
30TH JUNE
Attributable to the equity holders of the parent
	Stated Capital	Accumulated	Non Controlling Interest	Total
Group		Profit	Non Controlling Interest
	Rs. '000'	Rs. '000'	Rs. '000'	Rs. '000'
Balance as at 01 st April 2025	1,108,867	935,976	1	2,044,844
Loss for the Period	-	(68,994)	-	(68,994)
				-
Balance as at 30 th June 2025	1,108,867	866,982	1	1,975,850
Balance as at 01 st April 2024	1,108,867	706,480	1	1,815,348
Profit for the Period	-	699	-	699
Balance as at 30 th June 2024	1,108,867	707,179	1	1,816,047
		Stated	Accumulated	Total
Company		Capital	Profit/(Losses)
		Rs. '000'	Rs. '000'	Rs. '000'
Balance as at 01 st April 2025		1,108,867	(34,807)	1,074,060
Loss for the Period		-	(3,426)	(3,426)
Balance as at 30 th June 2025		1,108,867	(38,233)	1,070,634
Balance as at 01 st April 2024		1,108,867	(25,766)	1,083,101
Loss for the Period		-	(1,576)	(1,576)
Balance as at 30 th June 2024		1,108,867	(27,342)	1,081,525
Note :The above figures for the interim period are not audited
:Figures in brackets indicate deductions

‌THE FORTRESS RESORTS PLC
INTERIM FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30TH JUNE 2025
STATEMENT OF CASH FLOWS FOR THE PERIOD ENDED
30TH JUNE		FOR THE PERIOD ENDED		FOR THE PERIOD ENDED
		Group		Company
		2025	2024	2025	2024
		Rs. '000'	Rs. '000'	Rs. '000'	Rs. '000'
Cash Flows From / (Used in) Operating Activities
	Profit/(Loss) before tax	(64,927)	6,676	(3,426)	(1,576)
	Adjustments for
	Depreciation	18,308	16,222	-	-
	Amortisation of intangible assets	180	160
	Depreciation of right of use assets	478	478	-	-
	Finance Cost	1,985	1,885	-	-
	Finance income	(16,673)	(22,163)	-	-
	(Profit)/Loss on Disposal of Property, Plant & Equipment	-	133	-	-
	Provision for Defined Benefit Obligation	3,799	1,491	-	-
	Operating Profit/(Loss) before working capital changes	(56,850)	4,883	(3,426)	(1,576)
	(Increase)/ Decrease in inventories	(6,901)	216	-	-
	(Increase)/ Decrease in trade and other receivables and prepayments	(55,131)	21,291	3,591	1,600
	Increase/(Decrease) in trade and other payables and contract liabilities	3,059	(59,786)	(165)	(24)
	Cash Generated from / (Used in) Operations	(115,823)	(33,396)	-	-
	Defined benefit obligation paid
	Finance cost paid	(4)	(3)	-	-
	Income tax paid	(23,525)	(1,055)	-	-
	Defined benefit obligation paid	(846)	(15,000)	-	-
	Net cash from / (used in) operating activities	(140,198)	(49,454)	-	-
Cash Flows from / (Used in) Investing Activities
	Proceeds from disposal of property plant and equipment	-	(10,833)	-	-
	Acquisition of property, plant and equipment	(236,114)		-	-
	Investement in fixed deposits	(54,472)	(151,329)
	Withdrawal of fixed deposits	426,907	175,481	-	-
	Finance income received	15,216	27,841	-	-
	Net Cash from/(Used in) investing activities	151,536	41,160	-	-
Cash Flows from (Used in) Financing Activities
	Principal Payments under Lease Liabilities	(719)	(240)	-	-
	Net Cash from/(Used in) financing Activities	(719)	(240)	-	-

	Net Increase/(Decrease) in Cash and Cash Equivalents	10,619	(8,534)	-	-
Cash and Cash Equivalents at the beginning of the Period		57,227	(1,329)	42	43
Cash and Cash Equivalents at the end of the period		67,846	(9,863)	42	43
	For the purpose of the cash flow statement, the period end cash and cash equivalents comprise the following:
	Cash at Bank & In Hand	67,846	4,456	42	43
	Bank Overdraft	-	(14,319)	-	-
		67,846	(9,863)	42	43
	Note :The above figures for the interim period are not audited
	:Figures in brackets indicate deductions

‌THE FORTRESS RESORTS PLC INTERIM FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30TH JUNE 2025 NOTES TO THE INTERIM FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 TH JUNE

Market Price of Ordinary Shares

	30.06.2025	30.06.2024
	Rs.	Rs.
Highest Price Per Share for the Quarter	29.90	28.00
Lowest Price Per Share for the Quarter	24.00	21.50
Last Traded	29.50	24.60

Financial year of the Company / Group ends on 31st March . The interim financial statements are for the period ended 30 th June 2025
The Statement of Financial Position of the Company and Group as at 30 th June 2025 and Statements of Income, Changes in Equity and Cash Flow for the period then ended have been prepared in accordance with Sri Lanka Accounting Standars 34,interim financial statements and are in agreement with the books of accounts maintained by the Group and have provided the information required by the Colombo Stock Exchange.
The presentation and classification of figures for the corresponding period of the previous year have been amended, where relevant, to be comparable with those for the current year.
All values included in these Financial Statements are in rupees '000' unless otherwise stated.

Subsidiaries.

The Subsidiaries and its controlling percentages of the Group,which have been consolidated are as follows

Subsidiaries

Direct holding

2025

2024

Nature of the Operations

La Forteresse (Private) Limited

100%

Operation of Small Luxurry Hotel

Indirect holding

Summer Season Mirissa (Private ) Limited

99.99%

Operations not yet commenced

Investment in subsidiaries are carried at cost less impairments (if any) in the separate financial statements

Net Assets value per Share has been calculated, for all periods, based on the number of shares in issue as at 30 th June 2025, amounting to 110,886,684.
There has not been a significant change in the nature of the contingent liabilities,which were disclosed in the Annual Report for the year ended 31 st March 2025.
There have been no material events occurring after the Balance Sheet date that require adjustments or disclosure to Interim financial statements as at 30 th June 2025.
Graphical Analysis of Seasonality performance - For the Quarter
The percentage of the shares held by public as at 30 th June 2025 was 18.366% comprising of 1,756 Shareholders. (30 June 2024 -16.863%
comprising 1,766 shareholders)
The float adjusted market capitalization as at 30 th June 2025 - Rs.596,706,366.50
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 requirment applicable under the said option.
200,000
150,000
100,000
Revenue
Profit / (Loss) from
50,000 Operating Activities
Net Profit /( Loss)
-
2021 2022 2023 2024 2025
(50,000)
(100,000)
‌NOTES TO THE INTERIM FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30TH JUNE 2025
The interim financial statements are unaudited and have been prepared in accordance with the same accounting policies and methods set out in the Annual Financial Statements for the year ended 31st March 2025 and are in compliance with the Sri Lanka Accounting Standard 34 - Interim Financial Reporting.

The number of shares held by the Board of Directors as of 30th June 2025 are as follows:

	Name of the Director	No of Shares	%
1	Mr.J.A.S.Sumith Adhihetty	13,741	0.01
2	Mr.C.Vishvajit Cabraal	Nil	-
3	Mr.C.Umagiliya Weerawardena	Nil	-
4	Mr.Jan Peter Van Twest	Nil	-
5	Mr.Jitendra Romesh Gunaratne	Nil	-
6	Ms. Amarasinghe Arachchige Kawshi Amarasinghe	Nil	-
7	Mr.Vasantha Leelananda	Nil	-
8	Ms.K.A.D.B Perera	Nil	-
9	Mr. Amrit Merril Joseph Fernando	Nil	-
10	Mrs. R.N Pallegama	Nil
11	Mr. A.Y.E Joseph	Nil
12	Mrs.K.D.Weerasinghe	Nil	-

Twenty largest shareholders of the company as of 30 th June 2025 are as follows:

	Name of the Share Holder	No of Shares	%
1	M J F HOLDINGS (PRIVATE) LIMITED	28,616,411	25.81
2	VALLIBEL LEISURE (PRIVATE) LIMITED	24,417,932	22.02
3	VALLIBEL ONE PLC	20,618,257	18.59
4	MR.K.D.D. PERERA	10,329,317	9.32
5	L B FINANCE PLC	4,051,100	3.65
6	EST. OF LATE MR. M.J. FERNANDO	2,124,400	1.92
7	MERCHANT BANK OF SRI LANKA & FINANCE PLC/S.A.A HASITHA	2,020,473	1.82
8	SANDWAVE LIMITED	1,198,775	1.08
9	MR. A.P.L FERNANDO	1,172,811	1.06
10	MR.M.P.D COORAY	900,000	0.81
11	MR D.C FERNANDO	833,333	0.75
12	MR. M. J. FERNANDO	833,333	0.75
13	DR.D.JAYANNTHA	621,000	0.56
14	HATTON NATIONAL BANK PLC/MUSHTAQ MOHAMED FUAD	608,047	0.55
15	MERCHANT BANK OF SRI LANKA & FINANCE PLC/D.WEERASINGHE	592,403	0.53
16	SEYLAN BANK PLC/JAYANTHA DEWAGE	464,281	0.42
17	SEYLAN BANK PLC/MOHAMED MUSHTAQ FUAD	372,000	0.34
18	MR.G.B.D THILAKARATNE	342,182	0.31
19	ROYAL CERAMICS LANKA PLC	336,100	0.30
20	SAKUVI INVESTMENT TRUST (PRIVATE) LTD	284,166	0.26

‌Corporate Information
Name of the Company	Secretaries
The Fortress Resorts PLC	P W Corporate Secretarial (Pvt) Ltd.
	No.3/17, Kynsey Road.
Company Registration No	Colombo 08.
PQ 207	Telephone : 011 4640360-3
	Fax : 011 4740588
	Email: pwcs@pwcs.lk
Legal Form
Public Quoted Company with Limited Liability, Quoted on the Diri Savi Board of the Colombo Stock Exchange.	External Auditors
	Ernst & Young
	Chartered Accountants
	Rotunda Towers
	No.109, Galle Road
Registered Office	Colombo 03.
Level 29, West Tower
World Trade Center, Echelon Square	Internal Auditors
Colombo 01.	KPMG
	32A, Sir Mohamed Macan Markar Mawatha,
	Colombo 03, 00700
Board Of Directors	Tel: +94 11 5426 426
Mr.Jitendra Romesh Gunaratne(Chairman)	Fax: +94 11 2445 872
Mr. J A S Sumith Adhihetty
Mr.Chathura Vishvajit Cabraal	Bankers
Mr.C Umagiliya Weerawardena	Bank of Ceylon
Mr.Jan Peter Van Twest	Sampath Bank PLC
Ms. Amarasinghe Arachchige Kawshi Amarasinghe	Pan Asia Banking Corporation PLC
Mr.V Leelananda	Nations Trust Bank PLC
Ms.K A D B Perera
Mr.Amrith Merril Joseph Fernando
Mrs. R.N Pallegama
Mr. A.Y.E Joseph
Mrs.K.D.Weerasinghe
Subsidiary Companies
La Forteresse (Private) Limited
Summer Season Mirissa (Pvt) Ltd
Hotel
The Fortress Resorts & Spa, Koggala
Telephone : 091 4389400
Fax : 091 4389458
Email: info@thefortress.lk

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