Lake House Printers & Publishers PlcCSELK: LPRT.N0000

Interim accounts june 2024

· Issued by Lake House Printers & Publishers Plc

LAKE HOUSE PRINTERS & PUBLISHERS PLC

INTERIM ACCOUNTS

FOR THE 03 MONTHS ENDED 30TH JUNE 2024

LAKE HOUSE PRINTERS & PUBLISHERS PLC

CORPORATE INFORMATION

Legal Status

A Quoted Public Company

Registered Number - PQ 175

Board of Directors

R.S.Wijewardene (Chairman)

P.S.Wijewardene

R.C.Samarasinghe

Prof.L.R.Watawala (Independent)

D.F.R.Jayamaha (Independent)

D.R.Wijewardene

Secretary

D.P.A.N.Kumara

Auditors

KPMG

Chartered Accountants

Bankers

Bank of Ceylon,Corporate Branch.

Sampath Bank PLC,Headquarters Branch.

NDB Bank PLC,Headquarters Branch.

Commercial Bank PLC,Dharmapala Mawatha Branch.

Commercial Bank PLC,W.A.D.Ramanayake Mawatha Branch.

DFCC Bank PLC,Head Office Branch.

Registered Office

No.41,W.A.D.Ramanayake MW,Colombo, 02.

Fax

011-2449504

E - Mail

lhpp@sltnet.lk

Http://www.lhppl.com

Telephone 0112433272-3

112332271

LAKE HOUSE PRINTERS & PUBLISHERS PLC

INCOME STATEMENT FOR THE 03 MONTHS ENDED 30TH JUNE 2024

In conformity with the Colombo Stock Exchange Regulations, we give below a summary of our performance for the 3 Months ended 30th June

GROUP

COMPANY

3 Months

3 Months

3 Months

3 Months

Ended

Variance

Ended

Ended

Variance

Ended

30.06.2024

%

30.06.2023

30.06.2024

%

30.06.2023

Rs.'000

Rs.'000

Rs.'000

Rs.'000

Revenue

300,901

47.2

569,481

300,811

47.2

569,391

Cost of Sales

(229,645)

46.4

(428,509)

(229,645)

46.4

(428,509)

Gross Profit

71,256

49.5

140,972

71,166

53.7

153,601

Other Income

5,624

14.6

6,584

5,624

14.0

6,539

Administration Expenses

(45,358)

13.6

(39,932)

(45,006)

13.7

(39,568)

Distribution Expenses

(20,908)

50.4

(42,187)

(20,908)

50.4

(42,187)

Other Operating Expenses

-

-

-

-

-

-

Results from Operating Activities

10,614

83.8

65,437

10,877

83.4

65,667

Finance Income

8,468

29.6

6,533

4,827

66.4

2,900

Finance Expenses

(1,519)

48.7

(2,963)

(1,519)

48.7

(2,963)

Share of Profit of Associate (Net of Tax)

-

-

-

Profit before Taxation

17,563

74.5

69,007

14,185

78.4

65,604

Income Tax Expenses

(5,222)

74.8

(20,702)

(4,256)

78.4

(19,681)

Profit for the Period

12,341

74.5

48,305

9,930

78.4

45,923

Other Comprehensive Income

Net change in Fair Value of Available for Sale Investment

-

-

-

-

-

-

Profit for the Period

12,341

74.5

48,305

9,930

(78.4)

45,923

Basic Earnings Per Ordinary Share (Rs.)

4.20

16.45

3.38

15.64

THE ABOVE FIGURES ARE PROVISIONAL AND SUBJECT TO AUDIT.

DirectorDirector

15/08/202415/08/2024

LAKE HOUSE PRINTERS & PUBLISHERS PLC

SUMMARISED BALANCE SHEET AS AT 30TH JUNE 2024

AUDITED

GROUP

COMPANY

GROUP

COMPANY

30.06.2024

30.06.2023

30.06.2024

30.06.2023

31.3.2023

31.03.2023

Rs.'000

Rs.'000

Rs.'000

Rs.'000

Rs.'000

Rs.'000

ASSETS

Non Current Assets

25,965

25,965

Property, Plant and Equipment

24,457

24,276

24,457

24,276

348,251

348,251

Investment Property

348,251

348,251

348,251

348,251

-

2,984

Investment in Subsidiary

-

-

2,984

2,984

-

-

Investment in Equity Accounted Investee

-

-

-

-

20,037

20,032

Available for Sale Investments

20,037

20,037

20,032

20,032

394,253

397,232

Total Non Current Assets

392,745

392,564

395,724

395,543

Current Assets

258,227

258,227

Inventories

178,509

193,482

178,509

193,482

269,628

261,456

Trade Debtors and Other Receivables

173,776

288,944

173,746

287,440

27,803

27,713

Amounts Due from Related Parties

37,980

20,531

33,980

20,486

-

-

Loans Given to Related Staff

3,212

-

1,278

-

-

-

Taxation Recoverable

-

-

-

-

-

-

Assets Held for Sale

-

-

-

-

266,121

147,171

Cash and Cash Equivalents

404,951

315,903

265,978

186,274

821,779

694,567

Total Current Assets

798,428

818,860

653,491

687,682

1,216,032

1,091,799

TOTAL ASSETS

1,191,173

1,211,424

1,049,215

1,083,225

EQUITY AND LIABILITIES

Capital and Reserves

35,247

35,247

Stated Capital

35,247

35,247

35,247

35,247

6,197

6,197

Capital Reserves

6,197

6,197

6,197

6,197

217,232

217,232

Revaluation Reserve

217,232

217,232

217,232

217,232

16,426

16,420

Available for Sale Reserve

16,426

16,426

16,420

16,420

601,967

481,371

Retained Earnings

756,319

650,272

618,209

527,294

877,069

756,467

Total Equity Attributable to Equity Holders of the Company

1,031,421

925,374

893,305

802,390

877,069

756,467

Total Equity

1,031,421

925,374

893,305

802,390

Non - Current Liabilities

24,956

24,956

Deferred Taxation

24,956

24,956

24,956

24,596

14,934

14,934

Retirement Benefit Obligations

16,668

14,188

16,668

14,188

-

-

Interest Bearing Borrowings

-

-

-

-

-

Loans from Related Parties

-

-

-

39,890

39,890

Total Non Current Liabilities

41,624

39,144

41,624

38,784

Current Liabilities

55,000

55,000

Interest Bearing Borrowings

16,795

33,187

16,795

33,187

208,187

207,948

Trade and Other Payables

58,703

186,846

58,383

185,587

-

-

Amounts Due to Related Parties

-

-

Loans from Related Parties

-

-

35,401

32,009

Current Taxation

28,912

26,433

25,390

22,837

485

485

Bank Overdrafts

13,718

440

13,718

440

299,073

295,442

Total Current Liabilities

118,128

246,906

114,286

242,051

338,963

335,332

TOTAL LIABILITIES

159,752

286,050

155,910

280,835

1,216,032

1,091,799

TOTAL EQUITY AND LIABILITIES

1,191,173

1,211,424

1,049,215

1,083,225

298.63

257.56

Net Assets Per Share (Rs.)

351.18

324.72

304.16

282.36

Director

Director

15/08/2024

15/08/2024

LAKE HOUSE PRINTERS & PUBLISHERS PLC

STATEMENT OF CHANGES IN EQUITY

FOR 3 MONTHS ENDED 30TH JUNE 2024

COMPANY

STATED

CAPITAL

REVALUATION

AVAILABLE FOR

RETAINED

TOTAL

CAPITAL

RESERVES

RESERVE

SALE RESERVE

EARNINGS

Rs.'000

Rs.'000

Rs.'000

Rs.'000

Rs.'000

Rs.'000

Balance as at 1st April, 2023

35,247

6,197

217,232

16,420

481,371

756,467

Net Profit for the Period

-

-

-

-

45,923

45,923

Other Comprehensive Income

-

-

-

-

-

-

Gain on Fair Valuation of Available for Sale Investment

-

-

-

-

-

-

Transaction with Equity Holders

-

-

-

-

-

-

Contribution by and Distribution to Equity Holders

-

-

-

-

-

-

Dividend Paid

-

-

-

-

-

-

Balance as at 30th June 2023

35,247

6,197

217,232

16,420

527,294

802,390

Balance as at 1st April, 2024

35,247

6,197

217,232

16,420

608,279

883,375

Net Profit for the Period

-

-

-

-

9,930

9,930

Other Comprehensive Income

-

-

-

-

-

-

Transaction with Equity Holders

-

-

-

-

-

-

Contribution by and Distribution to Equity Holders

-

-

-

-

-

-

Dividend Paid

Balance as at 30th June 2024

35,247

6,197

217,232

16,420

618,209

893,305

GROUP

STATED

CAPITAL

REVALUATION

AVAILABLE FOR

RETAINED

TOTAL

CAPITAL

RESERVES

RESERVE

SALE RESERVE

EARNINGS

Rs.'000

Rs.'000

Rs.'000

Rs.'000

Rs.'000

Rs.'000

Balance as at 1st April, 2023

35,247

6,197

217,232

16,426

601,967

877,069

Net Profit for the Period

-

-

-

-

48,305

48,305

Other Comprehensive Income

-

-

-

-

-

-

Gain on Fair Valuation of Available for Sale Investment

-

-

-

-

-

-

Transaction with Equity Holders

-

-

-

-

-

-

Contribution by and Distribution to Equity Holders

-

-

-

-

-

-

Dividend Paid

-

-

-

-

-

-

Balance as at 30th June 2023

35,247

6,197

217,232

16,426

650,272

925,374

Balance as at 1st April, 2024

35,247

6,197

217,232

16,426

743,978

1,019,080

Net Profit for the Period

-

-

-

-

12,341

12,341

Other Comprehensive Income

-

-

-

-

-

-

Gain on Fair Valuation of Available for Sale Investment

-

-

-

-

-

-

Transaction with Equity Holders

-

-

-

-

-

-

Contribution by and Distribution to Equity Holders

-

-

-

-

-

-

Dividend Paid

-

-

-

-

-

-

Balance as at 30th June 2024

35,247

6,197

217,232

16,426

756,319

1,031,421

STATED CAPITAL

GROUP

COMPANY

30.06.2024

30.06.2023

30.06.2024

30.06.2023

Rs.'000

Rs.'000

Rs.'000

Rs.'000

2,937,245 Ordinary Shares

35,247

35,247

35,247

35,247

LAKE HOUSE PRINTERS & PUBLISHERS PLC

CASH FLOW STATEMENT

FOR 03 MONTHS ENDED 30TH JUNE 2024

GROUP

COMPANY

30.06.2024

30.06.2023

30.06.2024

30.06.2023

Rs.'000

Rs.'000

Rs.'000

Rs.'000

CASH FLOWS FROM OPERATING ACTIVITIES

Profit before Tax

17,563

69,007

14,185

65,604

Adjustments for,

Dividend Income

-

-

-

-

Profit on disposal of Property,Plant and Equipment

-

-

-

-

Profit on Sale of Shares

-

-

-

-

Share of profit of Associate (Net of Tax)

-

-

-

-

Provision for Retirement Benefit Obligation

750

750

750

750

Provision for Impairment of Available for Sale Investments

-

-

-

-

Depreciation

1,868

2,190

1,868

2,190

Interest income

(8,468)

(6,533)

(4,827)

(2,900)

Interest Expense

1,519

2,963

1,519

2,963

Operating Profit Before Working Capital Changes

13,232

68,377

13,495

68,607

(Increase)/Decrease in Inventories

(41,588)

62,946

(41,588)

62,946

(Increase)/Decrease in Trade and Other Receivables

(49,449)

(8,166)

(51,226)

(6,783)

(Increase)/Decrease in Dues from Related Companies

1,052

8,682

(2,020)

7,225

Increase in Trade and Other Payables

(13,409)

(50,908)

(13,479)

(50,869)

Decrease in Deposit Payables

-

-

-

-

Increase/(Decrease) in Dues to Related Companies

-

-

-

-

Cash Generated from Operations

(90,162)

80,931

(94,818)

81,126

Interest Paid

(1,519)

(2,963)

(1,519)

(2,963)

Gratuity Paid

(394)

(702)

(394)

(702)

Tax Paid

(1,275)

(19,340)

(578)

(18,500)

Net Cash Flow Generated from Operating Activities

(93,350)

57,926

(97,309)

58,961

CASH FLOWS FROM INVESTING ACTIVITIES

Purchase of Property,Plant and Equipment

(1,620)

(500)

(1,620)

(500)

Sales proceeds on disposal of Property,Plant and Equipment

-

-

-

-

Interest Received

8,468

6,533

4,827

2,900

Dividend Received

-

-

-

-

Sales proceeds on Shares

-

-

-

-

Investment in Repos

-

-

-

-

Rentals received on Loans given to Related Parties

(1,634)

-

300

-

Net Cash Flow Generated from Investing Activities

5,214

6,033

3,507

2,400

CASH FLOWS FROM FINANCING ACTIVITIES

Repayment of Loans

-

-

-

-

Loans Obtained

16,795

68,630

16,795

68,630

Lease Rentals Paid

-

(90,444)

-

(90,444)

Related Party Loan Repayment

-

-

-

-

Dividend Paid

-

-

-

-

Net Cash Flow used in Financing Activities

16,795

(21,814)

16,795

(21,814)

Net Increase/ (Decrease) in Cash & Cash Equivalents

(71,341)

42,145

(77,007)

39,547

Cash and Cash Equivalents at the Beginning of the Year

462,574

273,318

329,267

146,287

Cash and Cash Equivalents at the End of the Period

391,233

315,463

252,260

185,834

LAKE HOUSE PRINTERS & PUBLISHERS PLC

INVESTOR INFORMATION

GROUP

COMPANY

30.6.2024

30.6.2023

30.6.2024

30.6.2023

Rs.'000

Rs.'000

Rs.000

Rs.000

Net Assets Value Per Share Rs.

351.18

324.72

304.16

282.36

Earnings Per Ordinary Share (Rs.)

4.20

16.45

3.38

15.64

Market Value Per Share(Rs.)

-

-

189.00

135.50

Highest price per share for the period (Rs.)

-

-

197.50

220.00

Lowest price per share for the period (Rs.)

-

-

170.00

122.00

Number Of Shares

-

-

2,937,245

2,937,245

Public Holding

The company complies with the minimum public holding requirement under Table 1 Option 5 (as per the CSE Directive of 17th November 2017),

as at 30th June 2024.

- Number of Shareholders

659

- No,of Shares

765,434

- As a Percentage

26.06%

It is not a requirement under Option 5 of Table 1 to disclose the Float Adjusted Market Capitalization of the Company. However, for purposes of information, the Float Adjusted Market Capitalization of the Company as at 30th June 2024 was Rs.140.6Mn.

NOTES TO THE ACCOUNTS

1 Segmental Reporting

Security Printing

Security Cards

Atlas

Others

Plantations

Group

Rs.'000

Rs.'000

Rs.'000

Rs.'000

Rs.'000

Rs.'000

Revenue

72,881

227,640

290

-

90

300,901

Other Operating Income

-

-

-

-

-

5,954

Profit from Operations

-

-

-

-

-

65,437

Finance Income

14,092

Finance Expenses

-

-

-

-

-

(1,519)

Profit Before Tax

-

-

-

-

-

17,563

Income Tax Expenses

-

-

-

-

-

(5,222)

Profit for the Period

-

-

-

-

-

12,341

Assets

Segment Assets

199,068

260,000

3,896

214,921

145,000

822,885

Investment Property

348,251

Investments in Associates

-

Other Investments

-

-

-

-

20,037

Total Assets

199,068

260,000

3,896

214,921

145,000

1,191,173

Liabilities

Deferred Taxation

-

-

-

-

-

24,956

Segment Liabilities

226

16,300

-

95,905

3,902

116,333

Interest Bearing Borrowings

16,795

-

-

-

-

16,795

Retirement Benefit Obligations

-

-

-

-

-

1,668

Total Liabilities

17,021

16,300

-

95,905

3,902

159,752

  1. The figures are provisional and unaudited.
  2. The Accounting policies and methods of computation are consistent with those followed during the previous financial year.
  3. There have not been any significant changes in the nature of the contingent liabilities, which were disclosed in the Annual Report for the year ended, 31st March 2024, nor events subsequent to the end of the reporting period that require disclosure.
  4. Any Change in Fair Value of Investment Property, Available for Sale Investment and Actuarial Gain / Loss as at 31st March 2024 are not incorporated in the Accounts.
  5. The Accounts are prepared in compliance with SLFRS and CSE listing rules to the best of our knowledge subject to note 05 above.
  6. Unquoted Investments

30.06.2024

30.06.2023

Holding

No of

Cost

Holding

No of

Cost

Shares

Shares

%

000,

Rs.000

%

000,

Rs.000

L.H Plantations (Pvt) Ltd

100

1,990

2,983

100

1,990

2,983

(Nominal Value Rs.10.00 per share)

LAKE HOUSE PRINTERS & PUBLISHERS PLC

INVESTOR INFORMATION

TOP TWENTY SHARE HOLDERS

AS AT 30TH JUNE 2024

NAME

NO, OF SHARES

%

1

Mr. R.S.Wijewardene

1,052,087

35.82%

2

Mr. D.R.Wijewardene

962,612

32.77%

3

MR.D.N.Wijewardane

161,721

5.51%

4

Mr.P.S.Wijewardene

108,282

3.69%

5

Mr.A.I.Goonerathne

94,046

3.20%

6

Mrs.A.I.Wijesundere

67,013

2.28%

7

Mrs.R.N.Wijewardene

48,830

1.66%

8

Mr.Ranil Wickremasinghe

38,964

1.33%

9

Mrs.I.N.Wijewardene

37,425

1.27%

10

Mr.N.W.W.Welgama

32,584

1.11%

11

Mr.R.N.Wickremasinghe

30,238

1.03%

12

Mr.K.A.Weerathunge

29,730

1.01%

13

Estate of Late Mr.P.Sivali Wijewardene

28,630

0.97%

14

Mr.N.D.P.Hettiarachchi

21,090

0.72%

15

Mr.A.L.Goonerathne

20,000

0.68%

16

Mr., Mrs & Miss. Hettiarachchi

18,429

0.63%

17

Miss.R.M.Wijewardane

18,111

0.62%

18

Ms.V.S.Wijewardene

14,038

0.48%

19

Mr.A.R.Wijewardene

11,722

0.40%

20

E Channelling PLC

10,697

0.36%

2,806,249

95.54%

DIRECTORS SHARE HOLDING AS AT 30TH JUNE 2024

NAME

NO, OF SHARES

%

Mr. R.S.Wijewardene

1,052,087

35.81

Mr. D.R.Wijewardene

962,612

32.77

Mr.P.S.Wijewardene

108,282

3.69

Mr.R.C.Samarasinghe

NIL

NIL

Prof.L.R.Watawala (Independent)

NIL

NIL

Mr.D.F.R.Jayamaha (Independent)

NIL

NIL

Prepared By

Checked By

Finance Manager

DGM Finance

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