INTERIM FINANCIAL STATEMENTS
FOR THE 3RD QUARTER ENDED
31ST DECEMBER 2021
MILLENNIUM HOUSING DEVELOPERS PLC
STATEMENT OF FINANCIAL POSITION
Group | |||
AS AT | 31-Dec-21 | 31-Dec-20 | 31-Mar-21 |
Un audited | Un audited | Audited | |
Rs. '000 | Rs. '000 | Rs. '000 | |
ASSETS | |||
Non-current assets | |||
Property, plant and equipment | 24,496 | 19,274 | 22,836 |
Investment property | 135,000 | 54,500 | 55,500 |
Right to use assets | 32,127 | 9,402 | 5,388 |
Intangible assets | 186 | 333 | 266 |
Financial assets - FVOCI | 11,058 | 9,350 | 11,058 |
Deferred tax asset | 2,242 | 2,403 | 2037 |
Total Non-current assets | 205,109 | 95,262 | 97,085 |
Current assets | |||
Inventories | 1,877,155 | 1,784,003 | 1,742,396 |
Trade and other receivables | 296,365 | 429,846 | 378,973 |
Amounts due from related companies | 20,751 | 48,027 | 22,885 |
Income tax receivable | 12,434 | 8,436 | 8,150 |
Cash and cash equivalent | 21,417 | 79,943 | 56,038 |
Total Current assets | 2,228,122 | 2,350,254 | 2,208,442 |
Total assets | 2,433,231 | 2,445,517 | 2,305,527 |
EQUITY AND LIABILITIES | |||
Equity | |||
Stated capital | 293,802 | 293,802 | 293,802 |
Reserves | 18,108 | 16,401 | 18,108 |
Retained earnings | 734,996 | 710,456 | 797,957 |
Equity attributable to owners of the Company | 1,046,906 | 1,020,658 | 1,109,867 |
Total equity | 1,046,906 | 1,020,658 | 1,109,867 |
Non-current liabilities | |||
Interest bearing borrowings | 510,906 | 410,888 | 363,948 |
Deferred tax liability | 237 | 96 | - |
Retirement benefit obligation | 22,323 | 24,278 | 25,047 |
Total Non-current liabilities | 533,466 | 435,261 | 388,995 |
Current liabilities | |||
Advance received from customers | 175,332 | 354,663 | 142,004 |
Trade and other payables | 354,474 | 250,320 | 296,646 |
Interest bearing borrowings | 196,292 | 327,832 | 312,675 |
Debt Securities | 3,250 | 3,250 | 3,250 |
Amounts due to related companies | 832 | 488 | 1,311 |
Income tax payable | 44,717 | 1,750 | 6,569 |
Bank overdraft | 77,962 | 51,294 | 44,210 |
Total Current liabilities | 852,860 | 989,597 | 806,665 |
Total liabilities | 1,386,325 | 1,424,859 | 1,195,660 |
Total equity and liabilities | 2,433,231 | 2,445,517 | 2,305,527 |
Net Asset Per Share | 7.77 | 7.58 | 8.24 |
It is certified that the Financial Statements have been prepared in compliance with the requirements of the Companies Act No. 7 of 2007.
Sapmath Thennakoon
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/Non Executive Director | Executive Director |
14th February 2022 |
Page - 02
MILLENNIUM HOUSING DEVELOPERS PLC
STATEMENT OF FINANCIAL POSITION
Company | |||
AS AT | 31-Dec-21 | 31-Dec-20 | 31-Mar-21 |
Un audited | Un audited | Audited | |
Rs. '000 | Rs. '000 | Rs. '000 | |
ASSETS | |||
Non-current assets | |||
Property, plant and equipment | 19,330 | 11,932 | 16,234 |
Intangible Assets | 82 | 177 | 127 |
Investment in subsidiaries | 279,533 | 285,124 | 279,533 |
Right of use assets | 32,127 | 9,402 | 5,388 |
Financial assets - FVOCI | 11,058 | 9,350 | 11,058 |
Deferred tax asset | 2,106 | 1,958 | 2,106 |
Total Non-current assets | 344,235 | 317,944 | 314,446 |
Current assets | |||
Inventories | 373,564 | 152,268 | 162,758 |
Trade and other receivables | 143,185 | 52,989 | 51,896 |
Amounts due from related companies | 3,442 | 33,062 | 74,922 |
Income tax receivables | - | 532 | 553 |
Cash and cash equivalent | 11,351 | 18,926 | 8,742 |
Total Current assets | 531,542 | 257,777 | 298,871 |
Total assets | 875,777 | 575,721 | 613,317 |
EQUITY AND LIABILITIES | |||
Equity | |||
Stated capital | 293,802 | 293,802 | 293,802 |
Reserve | 18,108 | 16,401 | 18,108 |
Retained earnings | 48,507 | (128,675) | (76,148) |
Equity attributable to owners of the Company | 360,417 | 181,528 | 235,762 |
Total equity | 360,417 | 181,528 | 235,762 |
Non-current liabilities | |||
Interest bearing borrowings | 170,000 | 6,665 | 3,100 |
Retirement benefit obligation | 18,943 | 20,408 | 20,719 |
Total Non-current liabilities | 188,943 | 27,073 | 23,819 |
Current liabilities | |||
Advance received from customers | 15,346 | 9,652 | 8,015 |
Trade and other payables | 101,908 | 52,291 | 38,958 |
Interest bearing borrowings | 33,699 | 3,753 | 3,565 |
Debt Securities | 3,250 | 3,250 | 3,250 |
Amounts due to related companies | 99,314 | 291,841 | 292,547 |
Income tax payable | 40,207 | - | - |
Bank overdraft | 32,693 | 6,332 | 7,401 |
Total Current liabilities | 326,417 | 367,120 | 353,736 |
Total liabilities | 515,360 | 394,193 | 377,555 |
Total equity and liabilities | 875,777 | 575,721 | 613,317 |
Net Asset Per Share | 2.68 | 1.35 | 1.75 |
It is certified that the Financial Statements have been prepared in compliance with the requirements of
the Companies Act No. 7 of 2007.
Sampath Thennakoon
Chief Finance 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/Non Executive Director | Executive Director |
14th February 2022 |
Page-03
MILLENNIUM HOUSING DEVELOPERS PLC
CONSOLIDATED COMPREHENSIVE INCOME STATEMENT
Quarter ended | Nine Months | |||
31st December | 31st December | |||
2021 | 2020 | 2021 | 2020 | |
Un audited | Un audited | Un audited | Un audited | |
Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 | |
Revenue | 65,724 | 309,730 | 282,204 | 673,295 |
Cost of sales | (55,584) | (219,615) | (192,507) | (459,265) |
Gross profit | 10,141 | 90,114 | 89,698 | 214,030 |
Other operating income | 89,241 | 6,924 | 107,432 | 20,689 |
Administration expenses | (55,116) | (50,570) | (163,915) | (148,225) |
Selling and marketing expenses | (8,677) | (5,732) | (20,716) | (5,995) |
Results from operating activities | 35,589 | 40,737 | 12,499 | 80,499 |
Finance income | 415 | 419 | 4,669 | 725 |
Finance costs | (17,902) | (10,205) | (37,927) | (23,166) |
Net finance income | (17,487) | (9,785) | (33,258) | (22,440) |
Profit/(Loss) before income tax | 18,102 | 30,952 | (20,759) | 58,059 |
Income tax expense | (42,053) | 1,888 | (42,197) | (81) |
Profit/(Loss) for the period | (23,950) | 32,840 | (62,955) | 57,977 |
Other comprehensive income | ||||
Items that will not be reclassified to profit or loss | ||||
Other comprehensive income for the period net of tax | - | - | - | - |
Total comprehensive income for the period net of tax | (23,950) | 32,840 | (62,955) | 57,977 |
Profit/(Loss) attributable to : | ||||
Owners of the Company | (23,950) | 32,840 | (62,955) | 57,977 |
Non-controlling interests | - | - | ||
Profit/(Loss) for the period | (23,950) | 32,840 | (62,955) | 57,977 |
Total comprehensive income attributable to | ||||
Owners of the Company | (23,950) | 32,840 | (62,955) | 57,977 |
Non-controlling interest | - | - | ||
Total comprehensive income for the period net of tax | (23,950) | 32,840 | (62,955) | 57,977 |
Earnings/(loss) per share | (0.18) | 0.24 | (0.47) | 0.43 |
Figures in brackets indicates deductions.
Page - 04
MILLENNIUM HOUSING DEVELOPERS PLC
COPMANY COMPREHENSIVE INCOME STATEMENT
Quarter ended | Nine Months | |||
31st December | 31st December | |||
2021 | 2020 | 2021 | 2020 | |
Un audited | Un audited | Un audited | Un audited | |
Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 | |
Revenue | - | 33,000 | - | 59,530 |
Cost of sales | - | (22,270) | - | (40,646) |
Gross profit | - | 10,730 | - | 18,884 |
Other operating income | 301,159 | 683 | 303,526 | 2,887 |
Administration expenses | (37,373) | (34,499) | (109,841) | (101,141) |
Selling and marketing expenses | (6,806) | (793) | (15,017) | (992) |
Results from operating activities | 256,980 | (23,879) | 178,668 | (80,361) |
Finance income | 107 | 179 | 671 | 293 |
Finance costs | (4,649) | (27) | (12,586) | (68) |
Net finance income | (4,542) | 152 | (11,915) | 225 |
Profit/(Loss) before income tax | 252,438 | (23,727) | 166,753 | (80,136) |
Income tax expense | (42,019) | 302 | (42,098) | (22) |
Profit/(Loss) for the period | 210,419 | (23,425) | 124,655 | (80,159) |
Other comprehensive income | ||||
Items that will not be reclassified to profit or loss | ||||
Other comprehensive income for the period net of tax | - | - | - | - |
Total comprehensive income for the period net of tax | 210,419 | (23,425) | 124,655 | (80,159) |
Profit/(Loss) attributable to ; | ||||
Owners of the Company | 210,419 | (23,425) | 124,655 | (80,159) |
Non-controlling interest | ||||
Profit/(Loss) for the Period | 210,419 | (23,425) | 124,655 | (80,159) |
Total comprehensive income attributable to: | ||||
Owners of the Company | 210,419 | (23,425) | 124,655 | (80,159) |
Non-controlling interests | - | - | - | - |
Total comprehensive income for the period | 210,419 | (23,425) | 124,655 | (80,159) |
Earnings per share | 1.56 | (0.17) | 0.93 | (0.60) |
Figures in brackets indicates deductions.
Page - 05
This is an excerpt of the original content. To continue reading it, access the original document here.