INTERIM FINANCIAL STATEMENTS
FOR THE 2ND QUARTER ENDED 30TH SEPTEMBER 2022
MILLENNIUM HOUSING DEVELOPERS PLC
STATEMENT OF FINANCIAL POSITION
AS AT | Group | ||
30-Sep-22 | 30-Sep-21 | 31-Mar-22 | |
Un audited | Un audited | Audited | |
Rs. '000 | Rs. '000 | Rs. '000 | |
ASSETS | |||
Non-current assets | 30,166 | ||
Property, plant and equipment | 24,819 | 22,966 | |
Investment property | 135,000 | 55,500 | 135,000 |
Intangible assets | 148 | 198 | 173 |
Right of use assets | 25,315 | 32,127 | 28,537 |
Financial assets - FVOCI | 7,936 | 11,058 | 7,936 |
Deferred tax asset | - | 2,242 | - |
Total Non-current assets | 198,565 | 125,944 | 194,612 |
Current assets | 1,879,391 | ||
Inventories | 1,817,970 | 1,854,210 | |
Trade and other receivables | 177,839 | 335,115 | 264,030 |
Amounts due from related companies | 11,050 | 20,325 | 9,645 |
Income tax receivables | - | 8,220 | - |
Cash at bank and in hand | 15,997 | 75,056 | 20,099 |
Total Current assets | 2,084,276 | 2,256,686 | 2,147,984 |
Total assets | 2,282,841 | 2,382,630 | 2,342,596 |
EQUITY AND LIABILITIES | |||
Equity | 293,802 | ||
Stated capital | 293,802 | 293,802 | |
Capital redemption reserve | 14,987 | 18,108 | 14,987 |
Retained earnings | 631,471 | 758,952 | 725,327 |
Equity attributable to owners of the Company | 940,260 | 1,070,862 | 1,034,116 |
Total equity | 940,260 | 1,070,862 | 1,034,116 |
Non-current liabilities | 374,968 | ||
Interest bearing borrowings | 514,067 | 460,502 | |
Deferred tax liability | 8,880 | 237 | 8,880 |
Retirement benefit obligation | 8,719 | 24,317 | 14,131 |
Total Non-current liabilities | 392,567 | 538,621 | 483,513 |
Current liabilities | 417,614 | ||
Trade and other payables | 333,529 | 324,139 | |
Advances received from customers | 220,669 | 161,181 | 192,279 |
Interest bearing borrowings | 234,399 | 195,431 | 238,670 |
Debt Securities | 3,250 | 3,250 | 3,250 |
Amounts due to related companies | 4,169 | 834 | 831 |
Income tax payable | 1,503 | 6,604 | 2,703 |
Bank overdraft | 68,411 | 72,318 | 63,095 |
Total Current liabilities | 950,015 | 773,147 | 824,967 |
Total liabilities | 1,342,581 | 1,311,768 | 1,308,480 |
Total equity and liabilities | 2,282,841 | 2,382,630 | 2,342,596 |
Net Asset Per Share | 6.98 | 7.95 | 7.68 |
It is certified that the Financial Statements have been prepared in compliance with the requirements of the Companies Act No. 7 of 2007.
Sampath Tennakoon
Chief Financial Officer
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 ;
U.H. Dharmadasa | K.C.C. Perera |
Chairman | Director |
14th November 2022 |
Page - 02
MILLENNIUM HOUSING DEVELOPERS PLC
STATEMENT OF FINANCIAL POSITION
AS AT | Company | ||
30-Sep-22 | 30-Sep-21 | 31-Mar-22 | |
Un audited | Un audited | Audited | |
Rs. '000 | Rs. '000 | Rs. '000 | |
ASSETS | |||
Non-current assets | 26,549 | ||
Property, plant and equipment | 19,211 | 18,360 | |
Intangible assets | 79 | 83 | 81 |
Investment in subsidiaries | 279,533 | 279,533 | 279,533 |
Right of use assets | 25,315 | 32,127 | 28,537 |
Financial assets - FVOCI | 7,936 | 11,058 | 7,936 |
Deferred tax asset | 812 | 2,106 | 812 |
Total Non-current assets | 340,224 | 344,118 | 335,259 |
Current assets | 487,556 | ||
Inventories | 289,618 | 426,778 | |
Trade and other receivables | 69,988 | 108,573 | 117,804 |
Amounts due from related companies | - | 43,771 | 883 |
Income tax receivables | - | 475 | - |
Cash at bank and in hand | 14,756 | 33,200 | 12,212 |
Total Current assets | 572,300 | 475,637 | 557,677 |
Total assets | 912,524 | 819,755 | 892,936 |
EQUITY AND LIABILITIES | |||
Equity | 293,802 | ||
Stated capital | 293,802 | 293,802 | |
Capital redemption reserve | 14,987 | 18,108 | 14,987 |
Retained earnings | 81,334 | (161,911) | 129,533 |
Equity attributable to owners of the Company | 390,123 | 149,999 | 438,322 |
Total equity | 390,123 | 149,999 | 438,322 |
Non-current liabilities | 80,732 | ||
Interest bearing borrowings | 145,000 | 126,397 | |
Retirement benefit obligation | 5,874 | 20,128 | 10,275 |
Total Non-current liabilities | 86,606 | 165,128 | 136,672 |
Current liabilities | 94,409 | ||
Trade and other payables | 70,075 | 91,786 | |
Advances received from customers | 113,007 | 14,299 | 34,880 |
Interest bearing borrowings | 94,049 | 33,699 | 73,320 |
Debt Securities | 3,250 | 3,250 | 3,250 |
Amounts due to related companies | 116,777 | 363,247 | 92,654 |
Income tax payable | 26 | - | 10,643 |
Bank overdraft | 14,277 | 20,058 | 11,409 |
Total Current liabilities | 435,795 | 504,628 | 317,942 |
Total liabilities | 522,402 | 669,756 | 454,614 |
Total equity and liabilities | |||
912,524 | 819,755 | 892,936 | |
Net Asset Per Share | 2.90 | 1.11 | 3.25 |
It is certified that the Financial Statements have been prepared in compliance with the requirements of the Companies Act No. 7 of 2007.
Sampath Tennakoon
Chief Financial Officer
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 ;
U.H. Dharmadasa | K.C.C. Perera |
Chairman | Director |
14th November 2022 |
Page-03
MILLENNIUM HOUSING DEVELOPERS PLC
CONSOLIDATED COMPREHENSIVE INCOME STATEMENT
Quarter ended | Six Months | |||
30th September | 30th September | |||
2022 | 2021 | 2022 | 2021 | |
Un audited | Un audited | Un audited | Un audited | |
Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 | |
Revenue | 47,700 | 179,821 | 319,585 | 216,480 |
Cost of sales | (37,677) | (109,004) | (228,981) | (136,923) |
Gross profit | 10,023 | 70,817 | 90,604 | 79,557 |
Other operating income | 5,943 | 9,045 | 12,638 | 18,191 |
Administration expenses | (53,525) | (55,760) | (110,514) | (108,799) |
Selling and marketing expenses | (4,357) | (4,591) | (11,045) | (12,039) |
Results from operating activities | (41,916) | 19,511 | (18,317) | (23,091) |
Finance income | 549 | 3,910 | 1,188 | 4,254 |
Finance costs | (39,862) | (11,560) | (61,898) | (20,025) |
Net finance income | (39,313) | (7,650) | (60,710) | (15,771) |
Profit/(Loss) before income tax | (81,229) | 11,861 | (79,027) | (38,862) |
Income tax expense | (14,757) | (73) | (14,830) | (144) |
Profit/(Loss) for the period | ||||
(95,986) | 11,788 | (93,857) | (39,006) | |
Other comprehensive income | ||||
Other comprehensive income Net of taxes | - | - | - | - |
Total comprehensive income for the period | ||||
(95,986) | 11,788 | (93,857) | (39,006) | |
Profit/(Loss) attributable to : | ||||
Owners of the Company | (95,986) | 11,788 | (93,857) | (39,006) |
Non-controlling interests | - | - | - | - |
Profit/(Loss) for the period | (95,986) | 11,788 | (93,857) | (39,006) |
Total comprehensive income attributable to | ||||
Owners of the Company | (95,986) | 11,788 | (93,857) | (39,006) |
Non-controlling interest | - | - | - | - |
Total comprehensive income for the period | (95,986) | 11,788 | (93,857) | (39,006) |
Earnings per share | (0.71) | 0.09 | (0.70) | (0.29) |
Figures in brackets indicates deductions.
Page - 04
MILLENNIUM HOUSING DEVELOPERS PLC
COPMANY COMPREHENSIVE INCOME STATEMENT
Quarter ended | Six Months Ended | ||||
30th September | 30th September | ||||
2022 | 2021 | 2022 | 2021 | ||
Un audited | Un audited | Un audited | Un audited | ||
Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 | ||
Revenue | - | - | 92,394 | ||
Cost of sales | - | - | (66,811) | ||
Gross profit | - | - | 25,583 | - | |
Other operating income | 1,379 | 1,747 | 2,785 | 2,367 | |
Administration expenses | (21,391) | (40,529) | (48,604) | (72,468) | |
Selling and marketing expenses | (3,544) | (8,211) | (10,232) | (8,211) | |
Results from operating activities | (23,556) | (46,993) | (30,468) | (78,312) | |
Finance income | 84 | 556 | 581 | 564 | |
Finance costs | (8,792) | (7,917) | (16,364) | (7,937) | |
Net finance income | (8,708) | (7,361) | (15,783) | (7,373) | |
Profit/(Loss) before income tax | (32,264) | (54,353) | (46,251) | (85,684) | |
Income tax expense | (1,932) | (77) | (1,948) | (79) | |
Profit/(Loss) for the period | (34,196) | (54,430) | (48,199) | (85,763) | |
Other comprehensive income | |||||
Other comprehensive income Net of taxes | - | - | - | - | |
Total comprehensive income of the period | (34,196) | (54,430) | (48,199) | (85,763) | |
Profit/(Loss) attriburtable to ; | |||||
Owners of the Company | (34,196) | (54,430) | (48,199) | (85,763) | |
Non-controlling interest | - | ||||
Profit/(Loss) for the Period | (34,196) | (54,430) | (48,199) | (85,763) | |
Total comprehensive income attributable to: | |||||
Owners of the Company | (34,196) | (54,430) | (48,199) | (85,763) | |
Non-controlling interests | - | - | |||
Total comprehensive income for the period | (34,196) | (54,430) | (48,199) | (85,763) | |
Earnings per share | (0.25) | (0.40) | (0.36) | (0.64) |
Figures in brackets indicates deductions.
Page - 05
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