Serendib Hotels PLC
06 Months ended 30th September 2022
Contents | Page No. |
Financial Statements | |
Statement of Financial Position | 2 |
Statement of Profit or Loss | 3 |
Statement of Comprehensive Income | 4 |
Statement of Changes in Equity | 5-6 |
Statement of Cash Flows | 7 |
Notes to the Financial Statements | 8 |
Investor Information | 9-11 |
Serendib Hotels PLC
STATEMENT OF FINANCIAL POSITION
Group | Company | |||||
As at | 30.09.2022 | 30.09.2021 | 31.03.2022 | 30.09.2022 | 30.09.2021 | 31.03.2022 |
Rs.'000 | Unaudited | Unaudited | Audited | Unaudited | Unaudited | Audited |
Non-Current Assets | ||||||
Property, Plant & Equipment | 5,917,145 | 3,810,357 | 5,917,740 | 1,253,230 | 656,403 | 1,207,986 |
Intangible Assets | 123,027 | 126,725 | 124,439 | 2,352 | 3,075 | 2,714 |
Right-of-Use Assets | 271,036 | 293,399 | 282,217 | 196,661 | 201,807 | 199,234 |
Investments in Subsidiaries | - | - | - | 1,676,207 | 983,267 | 983,267 |
Loans due from related parties | - | - | - | - | - | |
Other Financial Assets | 127,754 | 127,347 | 127,754 | 124,010 | 123,874 | 124,010 |
6,438,962 | 4,357,828 | 6,452,150 | 3,252,460 | 1,968,426 | 2,517,211 | |
Current Assets | ||||||
Inventories | 63,797 | 31,601 | 37,153 | 18,079 | 7,007 | 10,036 |
Trade and Other Receivables | 321,571 | 134,252 | 394,236 | 157,200 | 57,631 | 178,484 |
Taxation Receivables | 11,585 | 13,301 | 11,585 | 1,445 | 1,676 | 1,445 |
Other Financial Assets | - | - | - | 117,321 | 137,321 | 137,321 |
Cash and Short Term Deposits | 1,114,858 | 236,317 | 327,109 | 87,820 | 37,642 | 125,355 |
1,511,811 | 415,471 | 770,083 | 381,865 | 241,277 | 452,641 | |
Total Assets | 7,950,773 | 4,773,299 | 7,222,233 | 3,634,325 | 2,209,703 | 2,969,852 |
EQUITY AND LIABILITIES | ||||||
Capital and Reserves | ||||||
Stated Capital | 913,122 | 913,122 | 913,122 | 913,122 | 913,122 | 913,122 |
Other Capital Reserves | 1,854,100 | 720,493 | 1,854,100 | 415,953 | 50,544 | 415,953 |
Retained Earnings | (241,861) | 362,711 | (5,083) | (850,526) | (268,123) | (635,798) |
Equity Attributable to Owners of the Parent | 2,525,361 | 1,996,326 | 2,762,139 | 478,549 | 695,543 | 693,277 |
Non Controlling Interest | 1,297,413 | 871,854 | 1,175,240 | - | - | - |
Total Equity | 3,822,774 | 2,868,180 | 3,937,379 | 478,549 | 695,543 | 693,277 |
Non-Current Liabilities | ||||||
Interest Bearing Loans & Borrowings | 1,060,681 | 720,850 | 1,061,049 | 81,519 | 77,678 | 78,893 |
Deferred Tax Liabilities | 549,781 | 315,258 | 549,781 | 112,798 | 41,396 | 112,798 |
Employee Benefit Liabilities | 76,949 | 71,527 | 76,718 | 17,429 | 17,840 | 17,183 |
1,687,411 | 1,107,635 | 1,687,548 | 211,746 | 136,914 | 208,874 | |
Current Liabilities | ||||||
Trade and Other Payables | 1,100,520 | 370,264 | 987,786 | 435,726 | 175,408 | 293,674 |
Income Tax Liabilities | 4,979 | 7,597 | 8,452 | - | - | - |
Interest Bearing Loans and Borrowings | 1,214,154 | 345,358 | 464,586 | 2,502,551 | 1,185,880 | 1,751,103 |
Bank Overdraft | 120,935 | 74,265 | 136,482 | 5,753 | 15,958 | 22,924 |
2,440,588 | 797,484 | 1,597,306 | 2,944,030 | 1,377,246 | 2,067,701 | |
Total Equity and Liabilities | 7,950,773 | 4,773,299 | 7,222,233 | 3,634,325 | 2,209,703 | 2,969,852 |
Net Assets Per Share (Rs.) | 22.64 | 17.90 | 24.77 | 4.29 | 6.24 | 6.22 |
These Financial Statements have been prepared and presented in compliance with the requirements of the Companies Act No 07 of 2007.
Sgd.
Mrs. S.S Kokatakadeniya
Chief Financial Officer - LOLC Group
The Board of Directors is responsible for the preparation and presentation of these Financial Statements.
Approved and signed on behalf of the Board,
Sgd. | Sgd. |
Director | Director |
Colombo | |
14 November 2022 |
2
Serendib Hotels PLC
STATEMENT OF PROFIT OR LOSS
Group | Company | |||||||||||
3 Months | 3 Months | % Variance | 6 Months | 6 Months | % Variance | 3 Months | 3 Months | % Variance | 6 Months | 6 Months | % Variance | |
Ended | Ended | Ended | Ended | Ended | Ended | Ended | Ended | |||||
30.09.2022 | 30.09.2021 | 30.09.2022 | 30.09.2021 | 30.09.2022 | 30.09.2021 | 30.09.2022 | 30.09.2021 | |||||
Rs.'000 | Unaudited | Unaudited | Unaudited | Unaudited | Unaudited | Unaudited | Unaudited | Unaudited | ||||
Revenue | 206,742 | 99,206 | > 100% | 517,244 | 268,765 | 92% | 44,471 | 11,320 | > 100% | 132,250 | 35,110 | > 100% |
Cost of Sales | (90,374) | (26,850) | > 100% | (179,274) | (72,547) | > 100% | (19,789) | (4,076) | > 100% | (43,412) | (11,984) | > 100% |
Gross Profit | 116,367 | 72,356 | 61% | 337,970 | 196,218 | 72% | 24,682 | 7,244 | > 100% | 88,838 | 23,126 | > 100% |
Other Operating Income and Gains | (14,705) | (2,449) | > 100% | 35,167 | 4,662 | > 100% | (1,475) | 1,397 | > 100% | 21,138 | 2,663 | > 100% |
Personnel costs | (111,938) | (88,316) | 27% | (212,716) | (185,391) | 15% | (30,809) | (21,795) | 41% | (58,668) | (44,235) | 33% |
Depreciation and amortization | (67,423) | (47,820) | 41% | (122,258) | (97,431) | 25% | (11,945) | (12,503) | -4% | (23,198) | (25,821) | 10% |
Other operating expenses | 103,741 | (56,474) | > 100% | (208,745) | (119,850) | 74% | (29,040) | (15,321) | 90% | (57,814) | (34,918) | -66% |
Results from Operating Activities | 26,043 | (122,703) | > 100% | (170,582) | (201,792) | 15% | (48,587) | (40,978) | -19% | (29,703) | (79,185) | 62% |
Net Finance Cost | (52,296) | 11,374 | > 100% | (235,052) | (15,854) | > 100% | (20,329) | 9,388 | > 100% | (185,026) | (20,672) | > 100% |
Profit /(Loss) Before Tax | (26,254) | (111,329) | 76% | (405,634) | (217,646) | -86% | (68,916) | (31,590) | > 100% | (214,729) | (99,857) | > 100% |
Income Tax Expense | - | - | - | - | - | - | - | - | - | - | - | - |
Profit/(Loss) for the Period | (26,254) | (111,329) | 76% | (405,634) | (217,646) | -86% | (68,916) | (31,590) | > 100% | (214,729) | (99,857) | > 100% |
Attributable to : | ||||||||||||
Equity Holders of the Parent | 13,375 | (93,911) | > 100% | (359,925) | (196,304) | -83% | ||||||
Non-Controlling Interest | (39,629) | (17,418) | > 100% | (45,709) | (21,342) | > 100% | ||||||
(26,254) | (111,329) | 76% | (405,634) | (217,646) | 86% | |||||||
Loss Per Share (Rs.) | 0.12 | (0.84) | (3.23) | (1.76) | (0.62) | (0.28) | (1.93) | (0.90) |
3
Serendib Hotels PLC
STATEMENT OF COMPREHENSIVE INCOME
Group | Company | ||||||||||||
3 Months | 3 Months | % Variance | 6 Months | 6 Months | % Variance | 3 Months | 3 Months | % Variance | 6 Months | 6 Months | % Variance | ||
Ended | Ended | Ended | Ended | Ended | Ended | Ended | Ended | ||||||
Rs.'000 | 30.09.2022 | 30.09.2021 | 30.09.2022 | 30.09.2021 | 30.09.2022 | 30.09.2021 | 30.09.2021 | 30.09.2020 | |||||
Rs. | Rs. | ||||||||||||
Profit/(Loss) for the Period | (26,254) | (111,329) | 76% | (405,634) | (217,646) | -86% | (68,916) | (31,590) | > 100% | (214,729) | (99,857) | > 100% | |
Other Comprehensive Income | - | - | - | - | - | - | - | - | |||||
Other Comprehensive Income/(Expense) for the Period | |||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | ||
Total Comprehensive Income/(Expense) for the Period | |||||||||||||
(26,254) | (111,329) | 76% | (405,634) | (217,646) | -86% | (68,916) | (31,590) | > 100% | (214,729) | (99,857) | > 100% | ||
Attributable to: | |||||||||||||
Equity Holders of the Parent | 13,375 | (93,911) | > 100% | (359,925) | (196,304) | -83% | |||||||
Non Controlling Interest | (39,629) | (17,418) | > 100% | (45,709) | (21,342) | > 100% | |||||||
(26,254) | (111,329) | 76% | (405,634) | (217,646) | -86% | ||||||||
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