LANKEM DEVELOPMENTS PLC
Company No. PQ 86
-
INTERIM FINANCIAL STATEMENTS
For the Period Ended 31st December 2022
Revenue
Cost of Sales
Gross Profit/(Loss)
Change in the Fair Value of Biological Assets
Other Income
Administration Expenses
Net Finance Cost
Profit/(Loss) before Tax
Taxation
Profit/(Loss) for the Period
Other Comprehensive Income/(Expense)
Changes in Fair Value of Financial Assets classified as
FVOCI
Total Comprehensive Income/(Expense)
Attributable to
Owners of the Company
Non - Controlling Interest
Profit/(Loss) for the Period
Attributable to
Owners of the Company
Non - Controlling Interest
Total Comprehensive Income/(Expenses)
Earnings/(Loss) Per Share (Rs.)
LANKEM DEVELOPMENTS PLC
Company No. PQ 86
STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME - GROUP
Quarter | Quarter | Nine Months | Nine Months | ||||||
Ended | Ended | Ended | Ended | ||||||
31.12.2022 | 31.12.2021 | Variance | 31.12.2022 | 31.12.2021 | Variance | ||||
Rs.'000 | Rs.'000 | % | Rs.'000 | Rs.'000 | % | ||||
2,009,750 | 881,373 | + | 128 | 6,425,298 | 3,340,778 | + | 92 | ||
(1,301,192) | (895,695) | - | 45 | (4,262,602) | (3,292,636) | - | 29 | ||
708,558 | (14,322) | + | (5,047) | 2,162,696 | 48,142 | + | 4,392 | ||
- | 64,986 | - | (100) | - | 64,986 | - | (100) | ||
21,126 | 9,820 | + | (115) | 57,667 | 143,360 | - | 60 | ||
(144,498) | (37,590) | - | 284 | (242,242) | (100,507) | - | 141 | ||
(119,812) | (68,904) | - | 74 | (271,356) | (192,203) | - | 41 | ||
465,374 | (46,010) | + | (1,111) | 1,706,765 | (36,222) | + | (4,812) | ||
(2,925) | (129) | - | (2,167) | (3,135) | (345) | - | (809) | ||
+ | (1,102) | + | (4,759) | ||||||
462,449 | (46,139) | 1,703,630 | (36,567) | ||||||
(390) | 749 | (152) | 440 | 1,342 | |||||
- | - | (67) | |||||||
(390) | 749 | - | (152) | 440 | 1,342 | - | (67) | ||
462,059 | (45,390) | + | (1,118) | 1,704,070 | (35,225) | + | (4,938) | ||
295,660 | (36,567) | + | (909) | 1,114,142 | (34,386) | + | (3,340) | ||
166,789 | (9,572) | + | (1,842) | 589,488 | (2,181) | + | (27,128) | ||
462,449 | (46,139) | + | (1,102) | 1,703,630 | (36,567) | + | (4,759) | ||
295,397 | (35,926) | + | (922) | 1,114,455 | (33,295) | + | (3,447) | ||
166,662 | (9,464) | + | (1,861) | 589,615 | (1,930) | + | (30,650) | ||
462,059 | (45,390) | + | (1,118) | 1,704,070 | (35,225) | + | (4,938) | ||
2.46 | (0.30) | + | (909) | 9.28 | (0.29) | + | (3,340) |
Revenue
Cost of Sales
Gross Profit
Other Income
Administration Expenses
Net Finance Income/(Cost)
Profit/(Loss) before Tax
Income Tax Expense
Profit/(Loss) for the Period
Other Comprehensive Income/(Expense) as
FVOCI
Total Comprehensive Income/(Expense)
Attributable to
Owners of the Company
Non - Controlling Interest
Profit/(Loss) for the Period
Attributable to
Owners of the Company
Non - Controlling Interest
Total Comprehensive Income/(Expense)
Earnings/(Loss) per Share (Rs.)
LANKEM DEVELOPMENTS PLC
Company No. PQ 86
STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME - COMPANY
Quarter | Quarter | Nine Months | Nine Months | ||||||
Ended | Ended | Ended | Ended | ||||||
31.12.2022 | 31.12.2021 | Variance | 31.12.2022 | 31.12.2021 | Variance | ||||
Rs.'000 | Rs.'000 | % | Rs.'000 | Rs.'000 | % | ||||
- | - | - | - | - | - | - | - | ||
- | - | - | - | - | - | - | - | ||
- | - | - | - | - | - | - | - | ||
- | - | - | - | 200,820 | - | + | 100 | ||
(1,559) | (763) | - | 104 | (3,601) | (2,423) | - | 49 | ||
(30,218) | (8,635) | - | 250 | (85,862) | (24,186) | - | 255 | ||
(31,777) | (9,398) | - | (238) | 111,357 | (26,609) | + | 518 | ||
- | - | - | - | - | - | - | - | ||
- | (238) | + | 518 | ||||||
(31,777) | (9,398) | 111,357 | (26,609) | ||||||
- | 359 | - | 100 | 50 | 432 | - | 88 | ||
- | - | - | - | - | - | - | - | ||
(31,777) | (9,039) | - | (252) | 111,407 | (26,177) | + | 526 | ||
(31,777) | (9,398) | - | (238) | 111,357 | (26,609) | + | 518 | ||
- | - | - | - | - | - | - | - | ||
(31,777) | (9,398) | - | (238) | 111,357 | (26,609) | + | 518 | ||
(31,777) | (9,039) | - | (252) | 111,407 | (26,177) | + | 526 | ||
- | - | - | - | - | - | - | - | ||
(31,777) | (9,039) | - | (252) | 111,407 | (26,177) | + | 526 | ||
(0.26) | (0.08) | - | (238) | 0.93 | -0.22 | + | 518 |
LANKEM DEVELOPMENTS PLC
Company No. PQ 86
STATEMENT OF FINANCIAL POSITION
Group | Company | ||||||
As at | As at | As at | As at | ||||
31.12.2022 | 31.03.2022 | 31.12.2022 | 31.03.2022 | ||||
Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 | ||||
(Audited) | (Audited) | ||||||
ASSETS | |||||||
Non - Current Assets | |||||||
Property, Plant & Equipment | 765,831 | 760,093 | 22,400 | 22,400 | |||
Bearer Biological Assets | 2,206,325 | 2,225,511 | - | - | |||
Right of Use Assets | 161,889 | 171,583 | - | - | |||
Consumable Biological Assets | 1,436,524 | 1,439,365 | - | - | |||
Intangible Assets | 629,064 | 629,064 | - | - | |||
Investments in Subsidiaries | - | - | 1,423,481 | 1,467,481 | |||
Financial Assets Measured at Fair Value through OCI | 5,590 | 5,150 | 4,030 | 3,980 | |||
Total Non-Current Assets | 5,205,223 | 5,230,766 | 1,449,911 | 1,493,861 | |||
Current Assets | |||||||
Inventories | 1,075,171 | 473,853 | - | - | |||
Produce on Bear Biological Assets | 10,852 | 10,852 | - | - | |||
Trade and Other Receivables | 251,189 | 265,428 | 14 | 14 | |||
Loans due from Related Parties | 10,163 | 419,584 | 10,163 | 10,163 | |||
Amounts due from Related Parties | 112,461 | 96,297 | 15,491 | 17,736 | |||
Taxes Recoverable | 48,764 | 48,765 | 4,164 | 4,164 | |||
Cash and Cash Equivalents | 107,436 | 93,414 | 17 | 17 | |||
Total Current Assets | 1,616,036 | 1,408,193 | 29,849 | 32,094 | |||
TOTAL ASSETS | 6,821,259 | 6,638,959 | 1,479,760 | 1,525,955 | |||
EQUITY AND LIABILITIES | |||||||
Stated Capital | 1,558,006 | 1,558,006 | 1,558,006 | 1,558,006 | |||
General Reserve | 500 | 500 | 500 | 500 | |||
Reserve for Financial Assets at FVOCI | (114,688) | (115,001) | 658 | 608 | |||
Revaluation Reserve | 11,742 | 11,742 | 11,742 | 11,742 | |||
Retained Earnings | 128,078 | (868,718) | (669,583) | (780,940) | |||
Equity Attributable to Equity Holders of the Parent | 1,583,638 | 586,529 | 901,323 | 789,916 | |||
Non - Controlling Interest | 823,831 | 306,050 | - | - | |||
Total Equity | 2,407,469 | 892,579 | 901,323 | 789,916 | |||
Non - Current Liabilities | |||||||
Interest Bearing Borrowings | 694,243 | 830,593 | - | - | |||
Deferred Income | 187,965 | 192,565 | - | - | |||
Deferred Tax Liabilities | 67,422 | 67,418 | 3,708 | 3,708 | |||
Lease Liabilities | 4,092 | 4,093 | - | - | |||
Retirement Benefit Obligations | 1,193,046 | 1,129,917 | - | - | |||
Total Non-Current Liabilities | 2,146,768 | 2,224,586 | 3,708 | 3,708 | |||
Current Liabilities | |||||||
Trade & Other Payables | 945,467 | 1,855,064 | 14,886 | 14,813 | |||
Lease Liabilities | 596 | 595 | - | - | |||
Loans due to Related Parties | 424,923 | 600,726 | 424,923 | 600,726 | |||
Amounts due to Related Parties | 187,576 | 130,439 | 129,790 | 111,774 | |||
Interest Bearing Borrowings | 418,376 | 477,637 | - | - | |||
Income Tax Payable | - | 21,536 | - | - | |||
Bank Overdraft | 290,084 | 435,797 | 5,131 | 5,018 | |||
Total Current Liabilities | 2,267,022 | 3,521,794 | 574,730 | 732,331 | |||
Total Liabilities | 4,413,791 | 5,746,380 | 578,438 | 736,039 | |||
TOTAL EQUITY AND LIABILITIES | 6,821,259 | 6,638,959 | 1,479,760 | 1,525,955 | |||
Net Assets per Share (Rs.) | 13.20 | 4.89 | 7.51 | 6.58 |
I certify that the financial statements have been prepared in accordance with the requirements of the Companies Act no. 7 of 2007.
- Kowdu Director - Finance
The Board of Directors is responsible for the preparation and presentation of these financial statements.
Approved and signed for and on behalf of the Board of Directors of Lankem Developments PLC.
Anushman Rajaratnam | S S Poholiyadde |
Director | Director |
Colombo | |
Date : 9th February 2023 |
LANKEM DEVELOPMENTS PLC
Company No. PQ 86
STATEMENT OF CHANGES IN EQUITY
Group | Stated | General | FVTOCI | Revaluation | Accumulated | Total | Non-Controlling | Total |
Capital | Reserve | Reserve | Reserve | Profit/ (Loss) | Interest | Equity | ||
Rs. '000 | Rs. '000 | Rs. '000 | Rs. '000 | Rs. '000 | Rs. '000 | Rs. '000 | Rs. '000 | |
Balance as at 01st April 2022 | 1,558,006 | 500 | (115,001) | 11,742 | (868,718) | 586,529 | 306,050 | 892,579 |
Profit for the period | - | - | - | - | 1,114,142 | 1,114,142 | 589,488 | 1,703,630 |
Other Comprehensive Income | - | - | 313 | - | - | 313 | 127 | 440 |
Effect of changes in effective Holdings in Subsidiaries | - | - | - | - | (117,346) | (117,346) | (71,834) | (189,180) |
Balance as at 31st December 2022 | 1,558,006 | 500 | (114,688) | 11,742 | 128,078 | 1,583,638 | 823,831 | 2,407,469 |
Balance as at 01st April 2021 | 1,558,006 | 500 | (93,370) | 9,773 | (1,214,547) | 260,362 | (123,941) | 136,421 |
Profit for the period | - | - | - | - | (34,386) | (34,386) | (2,181) | (36,567) |
Other Comprehensive Income | - | - | 450 | - | - | 450 | 143 | 593 |
Balance as at 31st December 2021 | 1,558,006 | 500 | (92,920) | 9,773 | (1,248,933) | 226,426 | (125,979) | 100,447 |
Company | Stated | General | FVTOCI | Revaluation | Accumulated | Total |
Capital | Reserve | Reserve | Reserve | Profit/(Loss) | ||
Rs. '000 | Rs. '000 | Rs. '000 | Rs. '000 | Rs. '000 | Rs. '000 | |
Balance as at 01st April 2022 | 1,558,006 | 500 | 608 | 11,742 | (780,940) | 789,916 |
Profit for the period | - | - | - | - | 111,357 | 111,357 |
Other Comprehensive Income | - | - | 50 | - | - | 50 |
Balance as at 31st December 2022 | ||||||
1,558,006 | 500 | 658 | 11,742 | (669,583) | 901,323 | |
Balance as at 01st April 2021 | 1,558,006 | 500 | 546 | 9,773 | (880,865) | 687,960 |
Profit/(Loss) for the period | - | - | - | - | (26,609) | (26,609) |
Other Comprehensive Income | - | - | 432 | - | - | 432 |
Balance as at 31st December 2021 | 1,558,006 | 500 | 978 | 9,773 | (907,474) | 661,783 |
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