Lee Hedges PlcCSELK: SHAW.N0000

Quarterly Financial Report as at 31-12-2021

· Issued by Lee Hedges Plc

L E E H E D G E S P L C

( f o r m a l l y k n o w n a s S h a w W a l l a c e & H e d g e s P L C )

Company Reg. No. PQ 152

Q U A R T E R L Y F I N A N C I A L S T A T E M E N T S

F O R 3 R D Q U A R T E R E N D E D D E C E M B E R 3 1 , 2 0 2 1

Registered Office

353, Kollupitiya Road, P.O. Box 84, Colombo 3.

LEE HEDGES PLC

(formally known as Shaw Wallace & Hedges PLC) Company Reg. No. PQ 152

353, Kollupitiya Road, P.O. Box 84, Colombo 3.

Dear Shareholder,

We have pleasure in presenting hereunder relevant details of the unaudited results of the performance of your Company and the Group for the Quarter ended 31st December 2021, together with the corresponding figures for the previous year.

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

Consolidated

Company

Quarter ended

Period ended

Quarter ended

Period ended

31-12-202131-12-2020

Variance

31-12-2021

31-12-2020 Variance

31-12-202131-12-2020

Variance

31-12-2021

31-12-2020 Variance

Rs '000

Rs '000

%

Rs '000

Rs '000

%

Rs '000

Rs '000

%

Rs '000

Rs '000

%

Continuing Operations

Revenue

37,491

39,669

(5)

119,367

115,780

3

168

1,221

(86)

1,187

2,801

(58)

Cost of Sales

(598)

(533)

12

(1,786)

(3,242)

(45)

-

-

-

-

-

-

Gross Profit

36,893

39,136

(6)

117,581

112,538

4

168

1,221

(86)

1,187

2,801

(58)

Other Income

4,053

-

-

8,613

-

-

4,053

30,182

-

38,795

30,182

-

Administrative Expenses

(21,326)

(20,487)

4

(55,367)

(56,363)

(2)

(23,033)

(21,545)

7

(59,638)

(59,069)

1

Other Expenses

(18,361)

(1,922)

855

(18,302)

(6,058)

202

(18,361)

(1,922)

855

(18,302)

(6,058)

202

Results from operating activities

1,259

16,727

52,525

50,117

(37,173)

7,936

(37,958)

(32,144)

Net Finance Income

24,180

24,286

(0)

70,047

98,012

(29)

16,855

16,831

0

48,891

75,737

(35)

Profit / (Loss) before Taxation

25,439

41,013

(38)

122,572

148,129

(17)

(20,318)

24,767

(182)

10,933

43,593

(75)

Income Tax Release / (Expense)

(1,514)

(4,128)

(63)

(8,789)

(19,773)

(56)

(1,514)

(4,128)

(63)

(8,789)

(19,773)

(56)

Profit / (Loss) for the year

23,925

36,885

(35)

113,783

128,356

(11)

(21,832)

20,639

(206)

2,144

23,820

(91)

Other Comprehensive Income

Changes in the fair value of equity investments at fair value

5,142

-

17,702

-

5,142

-

17,702

-

through other comprehensive income

Deferred Tax on other Comprehensive Income

-

-

-

-

-

-

-

-

Total Comprehensive income for the year

29,067

36,885

131,485

128,356

(16,690)

20,639

19,846

23,820

Profit attributable to ;

Equity holders of the company

23,925

36,885

(35)

113,783

128,356

(11)

(21,832)

20,639

(206)

2,144

23,820

(91)

Non controlling Interest

-

-

-

-

-

-

-

-

-

-

Profit / (Loss) for the year

23,925

36,885

113,783

128,356

(21,832)

20,639

2,144

23,820

Total Comprehensive income attributable to ;

Equity holders of the company

29,067

36,885

(21)

131,485

128,356

2

(16,690)

20,639

(181)

19,846

23,820

(17)

Non controlling Interest

-

-

-

-

-

-

-

-

-

-

Total Comprehensive income for the year

29,067

36,885

131,485

128,356

(16,690)

20,639

19,846

23,820

Earnings / (loss) per Share (Rs.)

0.93

1.44

4.44

5.01

(0.85)

0.81

0.08

0.93

LEE HEDGES PLC

(formally known as Shaw Wallace & Hedges PLC)

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

Consolidated

Company

Audited

Audited

As at,

31-12-2021

31-12-2020

31-03-2021

31-12-2021

31-12-2020

31-03-2021

Rs '000

Rs '000

Rs '000

Rs '000

Rs '000

Rs '000

ASSETS

Non Current Assets

Property, Plant & Equipment

81,228

176,784

169,445

77,906

171,476

164,627

Right-of-use assets

-

-

-

43,094

56,702

53,301

Investment Property

3,418,885

3,419,183

3,418,885

1,542,885

1,542,885

1,542,885

Investments - Subsidiary

-

-

-

1,775,420

1,775,420

1,775,420

3,500,113

3,595,967

3,588,330

3,439,305

3,546,483

3,536,233

Current Assets

Trade and Other Receivables

31,701

18,748

34,968

7,150

10,549

10,650

Short Term Investments

1,651,528

1,536,428

861,524

1,262,627

1,289,047

687,759

Investment in Equity Securities

17,370

56,021

17,370

-

56,021

Amounts due from Subsidiary

-

-

-

-

-

-

Income Tax over payment

-

-

-

-

-

-

Cash & Cash Equivalents

166,580

86,738

819,185

93,638

29,084

647,063

1,867,179

1,641,914

1,771,698

1,380,785

1,328,680

1,401,493

Total Assets

5,367,292

5,237,881

5,360,028

4,820,090

4,875,163

4,937,726

EQUITY AND LIABILITIES

Equity

Stated Capital

51,205

51,205

51,205

51,205

51,205

51,205

Capital Reserves

548,246

581,247

582,011

548,246

581,247

582,011

Revenue Reserves

4,365,328

4,184,776

4,237,802

4,042,288

4,018,563

4,026,401

Financial Assets FVOCI Reserve

(6,298)

-

(18,419)

(6,298)

-

(18,419)

Total Equity attributable to Equity holder of the Parent

4,958,481

4,817,228

4,852,599

4,635,441

4,651,015

4,641,198

Non controlling Interest

-

-

-

-

-

-

Total Equity

4,958,481

4,817,228

4,852,599

4,635,441

4,651,015

4,641,198

Non Current Liabilities

Lease Liability

-

-

-

32,623

46,443

38,650

Retiring Benefit Obligations

8,768

7,077

8,768

8,768

7,077

8,768

Security Deposit

37,505

37,115

37,505

-

-

-

Deferred Tax Liabilities

198,716

188,570

198,717

97,533

100,080

97,534

244,989

232,762

244,990

138,924

153,600

144,952

Current Liabilities

Other Payables

149,884

146,876

141,067

17,967

17,650

18,430

Income Tax Payable

7,072

8,953

4,408

7,072

8,953

4,408

Amounts due to Subsidiary

-

-

-

-

-

-

Lease Liability - Current

-

-

-

13,820

12,387

12,730

Bank Overdraft

6,866

32,062

116,964

6,866

31,558

116,008

163,822

187,891

262,439

45,725

70,548

151,576

Total Equity and Liabilities

5,367,292

5,237,881

5,360,028

4,820,090

4,875,163

4,937,726

Net Asset Value per Share (Rs.)

193.67

188.15

189.53

181.05

181.66

181.28

CERTIFICATION:

The Board of Directors is responsible for preparation and presentation of these Financial Statements.

Signed on behalf of the board of Directors of Lee Hedges PLC.

11th February 2022

(Sgd)S . Balaratnam

(Sgd)S. Vamadevan

Director

Director

LEE HEDGES PLC

(formally known as Shaw Wallace & Hedges PLC)

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY Consolidated

Stated

Capital

General

Financial

Retained

Non-

Assets

Total

Controlling

Total Equity

Capital

Reserves

Reserves

FVOCI

Earning

Interest

Reserve

Rs. '000

Rs. '000

Rs. '000

Rs. '000

Rs. '000

Rs. '000

Rs. '000

Rs. '000

Balance as at 1st April 2020

51,205

581,247

81,786

-

4,000,237

4,714,475

-

4,714,475

Total comprehensive income for the year

Profit / (Loss) for the period

-

-

-

-

128,356

128,356

-

128,356

Gain on revaluation of Land & Building

-

-

-

-

-

-

-

Actuarial loss on retirement benefit obligation

-

-

-

-

-

-

-

-

Deferred Tax on other Comprehensive Income

-

-

-

-

-

-

-

Total comprehensive income for the year

-

-

-

-

128,356

128,356

-

128,356

Dividend Distibution

-

-

-

-

(25,603)

(25,603)

-

(25,603)

Amount transferred due to change in holding

-

-

-

-

-

-

-

Balance as at 31st December 2020

51,205

581,247

81,786

-

4,102,990

4,817,228

-

4,817,228

Balance as at 1st April 2021

51,205

582,011

81,786

(18,419)

4,156,016

4,852,599

-

4,852,599

Total comprehensive income for the year

Profit / (Loss) for the period

-

-

-

-

113,783

113,783

-

113,783

Actuarial gain on retirement benefit obligation

-

-

-

-

-

Net gain on disposal of equity investments at fair value

-

-

-

(5,581)

5,581

-

-

-

through Other Comprehensive Income

Net change in equity investments at fair value through

-

-

-

17,702

-

-

other comprehensive income

17,702

17,702

Gain on revaluation of Land & Building

-

-

-

-

-

-

-

-

Net gain on disposal of Property,Plant & Equipments

(33,765)

33,765

-

-

Deferred Tax on other Comprehensive Income

-

-

-

-

-

-

-

Total comprehensive income for the year

-

(33,765)

-

12,121

153,129

131,485

-

131,485

Dividend Distibution

-

-

-

-

(25,603)

(25,603)

-

(25,603)

Amount transferred due to changes in holdings

-

-

-

-

-

-

-

-

Balance as at 31st December 2021

51,205

548,246

81,786

(6,298)

4,283,542

4,958,481

-

4,958,481

Company

Stated

Capital

General

Financial

Retained

Assets

Total

Capital

Reserves

Reserves

FVOCI

Earning

Reserve

Rs. '000

Rs. '000

Rs. '000

Rs. '000

Rs. '000

Rs. '000

Balance as at 1st April 2020

51,205

581,247

81,786

-

3,938,560

4,652,798

Total comprehensive income for the year

Profit / (Loss) for the period

-

-

-

-

23,820

23,820

Gain on revaluation of Land & Building

-

-

-

-

-

Actuarial loss on retirement benefit obligation

-

-

-

-

-

-

Deferred Tax on other Comprehensive Income

-

-

-

-

-

-

Total comprehensive income for the year

-

-

-

-

23,820

23,820

Dividend Distibution

-

-

-

-

(25,603)

(25,603)

Balance as at 31st December 2020

51,205

581,247

81,786

-

3,936,778

4,651,015

Balance as at 1st April 2021

51,205

582,011

81,786

(18,419)

3,944,615

4,641,198

Total comprehensive income for the year

Profit / (Loss) for the period

-

-

-

-

2,144

2,144

Actuarial gain on retirement benefit obligation

-

-

-

-

-

-

Net gain on disposal of equity investments at fair value

-

-

-

(5,581)

5,581

-

through Other Comprehensive Income

Net change in equity investments at fair value through

-

-

-

17,702

-

17,702

other comprehensive income

Gain on revaluation of Land & Building

-

-

-

-

-

-

Net gain on disposal of Property,Plant & Equipments

-

(33,765)

-

-

33,765

-

Deferred Tax on other Comprehensive Income

-

-

-

-

-

-

Total comprehensive income for the year

-

(33,765)

-

12,121

41,490

19,846

Dividend Distibution

-

-

-

-

(25,603)

(25,603)

Balance as at 31st December 2021

51,205

548,246

81,786

(6,298)

3,960,502

4,635,441

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