2 HATTON PLANTATIONS PLC • INTERIM FINANCIAL STATEMENT
STATEMENT OF PROFIT OR LOSS - GROUP
All values are in LKR' 000s, unless otherwise stated
Figures in brackets indicate deductions
GROUP | GROUP | ||||
Unaudited | Unaudited | ||||
03 months | 03 months | ||||
ended | ended | ||||
% Change | |||||
30.06.2024 | 30.06.2023 | ||||
Continuing operations | 1,691,397 | 2,069,647 | |||
Revenue | -18% | ||||
Cost of sales | (1,243,391) | (2,030,378) | -39% | ||
Gross profit/(Loss) | 448,006 | 39,269 | >100% | ||
Other income | 18,086 | 23,331 | -22% | ||
Administrative expenses | (74,821) | (43,678) | -71% | ||
Operating profit/(Loss) | 391,271 | 18,922 | >100% | ||
Finance income | 22,698 | 41,410 | -45% | ||
Finance expenses | (6,359) | (22,769) | -72% | ||
Interest paid to government and other on lease | (25,999) | (21,242) | 22% | ||
Net finance costs | (9,660) | (2,601) | - >100% | ||
Profit/(Loss) before income tax | 381,611 | 16,321 | >100% | ||
Income tax expenses | (98,844) | (8,728) | - >100% | ||
Profit/(Loss) for the period | 282,767 | 7,593 | >100% | ||
Profit is attributable to: | |||||
Equity holders of the parent | 281,829 | 7,389 | |||
Non-controlling interest | 938 | 204 | |||
282,767 | 7,593 | ||||
Profit per share for profit attributable to the ordinary equity holders of the parent (expressed | |||||
in LKR per share) | |||||
Basic earning per share | 1.19 | 0.03 |
HATTON PLANTATIONS PLC • INTERIM FINANCIAL STATEMENT 3
STATEMENT OF COMPREHENSIVE INCOME - GROUP
All values are in LKR' 000s, unless otherwise stated
Figures in brackets indicate deductions
GROUP | GROUP | ||||
Unaudited | Unaudited | ||||
03 months | 03 months | ||||
ended | ended | ||||
% Change | |||||
30.06.2024 | 30.06.2023 | ||||
Profit for the period | 282,767 | 7,593 | >100% | ||
Other comprehensive income: | |||||
Items that will not be reclassified to profit or loss | |||||
Total comprehensive income for the period | 282,767 | 7,593 | >100% | ||
Total comprehensive income attributable to: | |||||
Equity holders of the parent | 282,563 | 7,389 | |||
Non- controlling interest | 204 | 204 | |||
282,767 | 7,593 | >100% |
4 HATTON PLANTATIONS PLC • INTERIM FINANCIAL STATEMENT
STATEMENT OF PROFIT OR LOSS - COMPANY
All values are in LKR' 000s, unless otherwise stated
Figures in brackets indicate deductions
COMPANY | ||
Unaudited | ||
03 months | ||
ended | ||
30.06.2024 | ||
Continuing operations | 1,649,172 | |
Revenue | ||
Cost of sales | (1,231,600) | |
Gross profit/(Loss) | 417,572 | |
Other income | 17,886 | |
Administrative expenses | (71,487) | |
Operating profit/(Loss) | 363,971 | |
Finance income | 20,668 | |
Finance expenses | (6,359) | |
Interest paid to government and other on lease | (26,001) | |
Net finance costs | (11,692) | |
Profit before income tax | 352,279 | |
Income tax expenses | (90,035) | |
Profit/(Loss) for the period | 262,244 |
COMPANY
Unaudited
03 months ended
30.06.2023 % Change
2,050,274 -20%
(2,017,423) -39%
32,851 >100%
23,256 -23%
(43,507) 64%
12,600 >100%
41,345 -50%
(22,767) -72%
(21,244) 22%
(2,666) - >100%
9,934 >100%
(6,811) - >100%
3,123 >100%
Profit per share for profit attributable to the ordinary equity holders of the Company (expressed in LKR per share)
Basic earning per share | 1.11 | 0.01 |
HATTON PLANTATIONS PLC • INTERIM FINANCIAL STATEMENT 5
STATEMENT OF COMPREHENSIVE INCOME - COMPANY
All values are in LKR' 000s, unless otherwise stated
Figures in brackets indicate deductions
COMPANY | COMPANY | ||||
Unaudited | Unaudited | ||||
03 months | 03 months | ||||
ended | ended | ||||
% Change | |||||
30.06.2024 | 30.06.2023 | ||||
Profit for the period | 262,244 | 3,123 | >100% | ||
Other comprehensive income: | |||||
Items that will not be reclassified to profit or loss | |||||
Total comprehensive income for the period | 262,244 | 3,123 | >100% |
6 HATTON PLANTATIONS PLC • INTERIM FINANCIAL STATEMENT
STATEMENT OF FINANCIAL POSITION
All values are in LKR' 000s, unless otherwise stated
Figures in brackets indicate deductions
GROUP | COMPANY | |||||
Unaudited | Unaudited | Unaudited | Unaudited | |||
As at | As at | As at | As at | |||
30.06.2024 | 31.03.2024 | 30.06.2024 | 31.03.2024 | |||
ASSETS | ||||||
Non-current assets | 391,126 | 391,126 | ||||
Right-of-use assets | 318,420 | 318,420 | ||||
Immovable estate assets | 9,020 | 10,297 | 9,020 | 10,297 | ||
Property, plant and equipment other than bearer plants | 1,452,646 | 1,455,215 | 1,108,979 | 1,105,382 | ||
Bearer plants | 1,404,599 | 1,360,012 | 1,404,599 | 1,360,012 | ||
Biological assets - consumable | 2,252,268 | 2,250,472 | 2,252,268 | 2,250,472 | ||
Investment in subsidiary | - | 556,141 | 556,141 | |||
Equity investments at fair value through other comprehensive income | 27,403 | 27,403 | 27,403 | 27,403 | ||
Total non-current assets | 5,537,062 | 5,421,819 | 5,749,536 | 5,628,127 | ||
Current assets | 20,038 | 20,038 | ||||
Biological assets - produce crops on bearer plants | 20,038 | 20,038 | ||||
Inventories | 847,912 | 632,889 | 846,741 | 631,718 | ||
Trade and other receivables | 318,068 | 244,663 | 300,881 | 239,837 | ||
Amounts due from related companies | 432 | 957 | 432 | 957 | ||
Short term investment in financial assets | 613,821 | 600,489 | 613,821 | 600,489 | ||
Cash and cash equivalents | 424,960 | 504,453 | 347,433 | 447,339 | ||
Total current assets | 2,225,231 | 2,003,489 | 2,129,346 | 1,940,378 | ||
Total assets | 7,762,293 | 7,425,308 | 7,878,882 | 7,568,505 | ||
EQUITY AND LIABILITIES | ||||||
Capital and reserves | 1,803,400 | 1,803,400 | ||||
Stated capital | 1,803,400 | 1,803,400 | ||||
Reserve on equity investments at FVOCI | 16,640 | 16,640 | 113,845 | 113,845 | ||
Retained earnings | 3,120,104 | 2,838,275 | 3,289,148 | 3,026,904 | ||
Equity attributable to equity holders of the parent | 4,940,144 | 4,658,315 | 5,206,393 | 4,944,149 | ||
Non-controlling interests | 17,020 | 16,082 | - | |||
Total equity | 4,957,164 | 4,674,397 | 5,206,393 | 4,944,149 | ||
Non-current liabilities | 102,900 | 102,900 | ||||
Borrowings | 115,762 | 115,762 | ||||
Lease liability | 441,206 | 364,097 | 441,206 | 364,097 | ||
Retirement benefit obligation | 870,028 | 884,131 | 862,398 | 876,592 | ||
Deferred capital grants | 100,864 | 102,490 | 100,864 | 102,490 | ||
Deferred tax liability | 516,893 | 518,721 | 416,392 | 416,392 | ||
Total non-current liabilities | 2,031,891 | 1,985,201 | 1,923,760 | 1,875,333 | ||
Current liabilities | 53,494 | 53,494 | ||||
Borrowings | 59,631 | 59,631 | ||||
Lease liability | 4,046 | 4,424 | 4,046 | 4,424 | ||
Trade and other payables | 593,885 | 658,458 | 590,120 | 656,903 | ||
Current income tax liability | 121,813 | 43,197 | 101,069 | 28,065 | ||
Total current liabilities | 773,238 | 765,710 | 748,729 | 749,023 | ||
Total liabilities | 2,805,129 | 2,750,911 | 2,672,489 | 2,624,356 | ||
Total equity and liabilities | 7,762,293 | 7,425,308 | 7,878,882 | 7,568,505 | ||
Net assets per share (LKR) | 20.87 | 19.68 | 22.00 | 20.89 |
The Statements of Financial Position as at 30 June 2024 and the Statements of Profit or Loss, Statements of comprehensive Income,the Statements of Changes in Equity and Cash Flow Statements for the three months then ended are drawn up from the unaudited Financial Statements of the company and its subsidiary and provide the information required by the Colombo Stock Exchange
I certify that the financial statements comply with the requirements of the Companies Act No.7 of 2007.
Chief Financial Officer
The Board of Directors is responsible for the preparation and presentation of these financial statements.
Director | Director |
12 August 2024
HATTON PLANTATIONS PLC • INTERIM FINANCIAL STATEMENT 7
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
All values are in LKR' 000s, unless otherwise stated
Figures in brackets indicate deductions
Attributable to equity holders of the parent | ||||||||||||
Stated | Reserve | Retained | Total | Non- | Total | |||||||
capital | on equity | earnings | controlling | equity | ||||||||
instruments | interest | |||||||||||
at FVOCI | ||||||||||||
Balance at 1 April 2023 | 1,803,400 | 7,665 | 2,695,890 | 4,506,955 | 18,536 | 4,525,491 | ||||||
Profit for the period | - | - | 7,391 | 7,391 | 204 | 7,595 | ||||||
Transactions with owners in their capacity as owners: | ||||||||||||
Dividend | - | - | - | - | - | - | ||||||
Balance at 30 June 2023 | 1,803,400 | 7,665 | 2,703,281 | 4,514,346 | 18,740 | 4,533,086 | ||||||
Recognized the NCI from business acquisition | - | - | - | - | - | - | ||||||
Profit for the period | - | - | 886,096 | 886,096 | 937 | 887,033 | ||||||
Other comprehensive income | - | 8,975 | (41,102) | (32,127) | 5 | (32,122) | ||||||
Total comprehensive income for the period | - | 8,975 | 844,994 | 853,969 | 942 | 854,911 | ||||||
Transactions with owners in their capacity as owners: | ||||||||||||
Dividend | - | - | (710,000) | (710,000) | (3,600) | (713,600) | ||||||
- | - | (710,000) | (710,000) | (3,600) | (713,600) | |||||||
Balance at 31 March 2024 | 1,803,400 | 16,640 | 2,838,275 | 4,658,315 | 16,082 | 4,674,397 | ||||||
Balance at 1 April 2024 | 1,803,400 | 16,640 | 2,838,275 | 4,658,315 | 16,082 | 4,674,397 | ||||||
Profit for the period | - | - | 281,829 | 281,829 | 938 | 282,767 | ||||||
Balance as at 30 June 2024 | 1,803,400 | 16,640 | 3,120,104 | 4,940,144 | 17,020 | 4,957,164 |
8 HATTON PLANTATIONS PLC • INTERIM FINANCIAL STATEMENT
COMPANY STATEMENT OF CHANGES IN EQUITY
All values are in LKR' 000s, unless otherwise stated
Figures in brackets indicate deductions
Balance at 1 April 2023
Profit for the period
Balance at 30 June 2023
Profit for the period
Other comprehensive income
Transactions with owners in their capacity as owners:
Dividend
Balance at 31 March 2024
Balance at 1 April 2024
Profit for the period
Balance at 30 June 2024
Stated | Reserve | Retained | Total equity | |||
capital | on equity | earnings | ||||
instruments | ||||||
at FVOCI | ||||||
1,803,400 | 15,134 | 2,767,941 | 4,586,475 | |||
- | - | 3,123 | 3,123 | |||
1,803,400 | 15,134 | 2,771,064 | 4,589,598 | |||
- | - | 1,007,045 | 1,007,045 | |||
- | 98,711 | (41,205) | 57,506 | |||
- | - | (710,000) | (710,000) | |||
1,803,400 | 113,845 | 3,026,904 | 4,944,149 | |||
1,803,400 | 113,845 | 3,026,904 | 4,944,149 | |||
- | - | 262,244 | 262,244 | |||
1,803,400 | 113,845 | 3,289,148 | 5,206,393 |
STATEMENT OF CASH FLOWS
All values are in LKR' 000s, unless otherwise stated
Figures in brackets indicate deductions
HATTON PLANTATIONS PLC • INTERIM FINANCIAL STATEMENT 9
GroupCompany
CASH FLOWS FROM OPERATING ACTIVITIES
Profit before tax
Adjusments for :
Depreciation charge
Profit on sale of trees
Provision for retirement benefit obligations Amortisation of leasehold right to assets Amortisation of capital grants
Finance income
Finance expenses
Government and other lease Interest
Profit before working capital changes
Changes in working capital
- Inventories
- Trade and other receivables
-
Trade and other payables
Cash generated from operations
Cash flows from operating activities
Finance expenses paid
Payment of ESC / income tax
Retirement benefit obligations paid
Interest received
Net cash generated from operating activities
Cash flows from investing activities
Additions to bearer plants
Additions and transfer to consumable biological assets Additions to property, plant and equipment Proceeds from sale of consumable biological assets
Net cash used in investing activities
Financing activities
Repayment of borrowings
Repayment of government lease rentals
Repayment of other lease rentals
Net cash generated from/(used in) financing activities
Net (decrease) / increase in cash & cash equivalent
Movement in cash and cash equivalents
At the beginning of period (Decrease) / increase for the period
At end of the period
Cash in hand and bank
Bank overdrafts
At end of the period
Unaudited Unaudited
03 months 03 months
ended ended
30.06.2024 30.06.2023
381,61116,321
41,32843,383
93-
16,98720,878
5,4354,200
(1,626) (1,568)
(22,698) (41,410)
6,35922,765
25,99921,244
453,488 85,813
(215,023) (49,504)
(72,880) (149,957)
(64,570) 111,815
101,015 (1,833)
(6,326) (25,921)
(22,056) (22,785)
(31,090) (38,534)
9,36627,909
50,909 (61,164)
(51,395) (44,242)
(1,796)(14)
(30,674) (19,899)
-
-
(83,958) (64,155)
(18,999) (35,649)
(24,813) (21,115)
(2,632) (1,257)
(46,444) (58,021)
(79,493) (183,340)
504,453 81,622
(79,493) (183,340)
424,960 (101,718)
424,960 197,136
-
(298,854)
424,960 (101,718)
Unaudited Unaudited
03 months 03 months
ended ended
30.06.2024 30.06.2023
352,2799,934
35,16337,282
93-
16,89620,819
5,4354,200
(1,626) (1,568)
(20,668) (41,345)
6,35922,767
26,00121,244
419,932 73,333
(215,023) (49,504)
(60,519) (136,993)
(66,782) 112,323
77,608 (841)
(6,326) (25,921)
(17,031) (22,282)
(31,090) (38,534)
7,33527,844
30,496 (59,734)
(51,395) (44,242)
(1,796)(14)
(30,674) (19,899)
-
-
(83,958) (64,155)
(18,999) (35,649)
(24,813) (21,115)
(2,632) (1,257)
(46,444) (58,021)
(99,906) (181,910)
447,339 79,342
(99,906) (181,910)
347,433 (102,568)
347,433 196,286
-
(298,854)
347,433 (102,568)
10 HATTON PLANTATIONS PLC • INTERIM FINANCIAL STATEMENT
OPERATING SEGMENT INFORMATION
All values are in LKR' 000s, unless otherwise stated
Figures in brackets indicate deductions
1. Segmental Information
- Segment revenue
Tea
Hydro Power
Total
Revenue expenditure
Group
Unaudited 03 months ended
30.06.2024 30.06.2023
1,649,172 2,050,274
42,22519,373
1,691,397 2,069,647
Company
Unaudited 03 months ended
30.06.2024 30.06.2023
1,649,172 2,050,274
--
1,649,172 2,050,274
Tea
Hydro Power
Total
Depreciation
Tea
Hydro Power
Total
Other non cash expenditure
1,179,539 1,959,320
5,6326,796
1,185,171 1,966,116
35,16337,282
6,1026,102
41,265 43,384
1,179,541 | 1,959,322 |
- | - |
1,179,541 | 1,959,322 |
35,163 | 37,282 |
- | - |
35,163 | 37,282 |
Tea
Hydro Power
Total
Segment Results
16,896 | 20,819 | 16,896 | 20,819 | |
59 | 59 | - | - | |
16,955 | 20,878 | 16,896 | 20,819 |
Tea
Hydro Power
Total
Other income
Administrative expenses
Finance income
Finance expenses
Interest paid to government and other on lease
Profit before income tax
417,57432,853
30,4326,416
448,006 39,269
18,08623,331
(74,821)(43,678)
22,69841,410
(6,359)(22,769)
(25,999)(21,242)
381,611 16,321
417,572 | 32,851 |
- | - |
417,572 | 32,851 |
17,886 | 23,256 |
(71,487) | (43,507) |
20,668 | 41,345 |
(6,359) | (22,767) |
(26,001) | (21,244) |
352,279 | 9,934 |
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