Serendib Hotels PLC
09 Months ended 31st December 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 | 31.12.2022 | 31.12.2021 | 31.03.2022 | 31.12.2022 | 31.12.2021 | 31.03.2022 |
Rs.'000 | Unaudited | Unaudited | Audited | Unaudited | Unaudited | Audited |
Non-Current Assets | ||||||
Property, Plant & Equipment | 5,920,879 | 3,911,299 | 5,917,740 | 1,247,135 | 714,387 | 1,207,986 |
Intangible Assets | 122,342 | 127,981 | 124,439 | 2,171 | 2,894 | 2,714 |
Right-of-Use Assets | 265,445 | 287,808 | 282,217 | 195,374 | 200,520 | 199,234 |
Investments in Subsidiaries | - | - | - | 1,676,207 | 983,267 | 983,267 |
Other Financial Assets | 127,754 | 127,347 | 127,754 | 124,010 | 123,874 | 124,010 |
6,436,420 | 4,454,435 | 6,452,150 | 3,244,897 | 2,024,942 | 2,517,211 | |
Current Assets | ||||||
Inventories | 75,514 | 32,438 | 37,153 | 22,799 | 6,446 | 10,036 |
Trade and Other Receivables | 305,265 | 225,669 | 394,236 | 156,983 | 65,639 | 178,484 |
Taxation Receivables | 11,585 | 12,739 | 11,585 | 1,445 | 1,676 | 1,445 |
Other Financial Assets | - | - | - | 117,321 | 137,321 | 137,321 |
Cash and Short Term Deposits | 1,938,624 | 275,151 | 327,109 | 125,461 | 69,155 | 125,355 |
2,330,988 | 545,997 | 770,083 | 424,009 | 280,237 | 452,641 | |
Total Assets | 8,767,408 | 5,000,432 | 7,222,233 | 3,668,906 | 2,305,179 | 2,969,852 |
EQUITY AND LIABILITIES | ||||||
Capital and Reserves | ||||||
Stated Capital | 2,931,064 | 913,122 | 913,122 | 2,931,064 | 913,122 | 913,122 |
Other Capital Reserves | 1,854,100 | 720,493 | 1,854,100 | 415,953 | 50,544 | 415,953 |
Retained Earnings | (605,657) | 247,015 | (5,083) | (1,052,604) | (319,265) | (635,798) |
Equity Attributable to Owners of the Parent | 4,179,507 | 1,880,630 | 2,762,139 | 2,294,413 | 644,401 | 693,277 |
Non Controlling Interest | 1,428,524 | 840,647 | 1,175,240 | - | - | - |
Total Equity | 5,608,031 | 2,721,277 | 3,937,379 | 2,294,413 | 644,401 | 693,277 |
Non-Current Liabilities | ||||||
Interest Bearing Loans & Borrowings | 1,135,301 | 712,400 | 1,061,049 | 76,836 | 82,116 | 78,893 |
Deferred Tax Liabilities | 549,781 | 315,258 | 549,781 | 112,798 | 41,396 | 112,798 |
Employee Benefit Liabilities | 75,453 | 70,549 | 76,718 | 16,783 | 18,495 | 17,183 |
1,760,535 | 1,098,207 | 1,687,548 | 206,417 | 142,007 | 208,874 | |
Current Liabilities | ||||||
Trade and Other Payables | 1,198,298 | 602,095 | 987,786 | 590,743 | 203,551 | 293,674 |
Income Tax Liabilities | 4,979 | 7,035 | 8,452 | - | - | - |
Interest Bearing Loans and Borrowings | 122,677 | 458,483 | 464,586 | 568,577 | 1,299,885 | 1,751,103 |
Bank Overdraft | 72,888 | 113,335 | 136,482 | 8,756 | 15,335 | 22,924 |
1,398,842 | 1,180,948 | 1,597,306 | 1,168,076 | 1,518,771 | 2,067,701 | |
Total Equity and Liabilities | 8,767,408 | 5,000,432 | 7,222,233 | 3,668,906 | 2,305,179 | 2,969,852 |
Net Assets Per Share (Rs.) | 9.37 | 16.86 | 24.77 | 5.14 | 5.78 | 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 February 2023
2
Serendib Hotels PLC
STATEMENT OF PROFIT OR LOSS
Group | Company | ||||||||||||||
3 Months | 3 Months | % Variance | 9 Months | 9 Months | % Variance | 3 Months | 3 Months | % Variance | 9 Months | 9 Months | % Variance | ||||
Ended | Ended | Ended | Ended | Ended | Ended | Ended | Ended | ||||||||
31.12.2022 | 31.12.2021 | 31.12.2022 | 31.12.2021 | 31.12.2022 | 31.12.2021 | 31.12.2022 | 31.12.2021 | ||||||||
Rs.'000 | Unaudited | Unaudited | Unaudited | Unaudited | Unaudited | Unaudited | Unaudited | Unaudited | |||||||
Revenue | 354,626 | 50,036 | >100 | 871,870 | 318,801 | >100 | 118,162 | 47 | >100 | 250,412 | 35,157 | >100 | |||
Cost of Sales | (139,858) | (13,185) | ->100 | (319,132) | (85,732) | ->100 | (40,060) | (58) | ->100 | (83,472) | (12,042) | ->100 | |||
Gross Profit / (Loss) | 214,768 | 36,851 | >100 | 552,738 | 233,069 | >100 | 78,103 | (11) | >100 | 166,941 | 23,115 | >100 | |||
Other Operating Income and Gains | 23,726 | 745 | >100 | 58,894 | 5,407 | >100 | 1,493 | 738 | >100 | 22,631 | 3,402 | >100 | |||
Personnel costs | (106,509) | (82,256) | (29) | (319,225) | (267,648) | (19) | (27,916) | (20,110) | (39) | (86,583) | (64,345) | (35) | |||
Depreciation and amortization | (63,513) | (45,827) | (39) | (185,772) | (143,796) | (29) | (13,519) | (11,426) | (18) | (36,717) | (37,247) | (1) | |||
Other operating expenses | (124,597) | (46,149) | ->100 | (333,342) | (165,461) | ->100 | (36,574) | (9,488) | ->100 | (94,388) | (44,406) | ->100 | |||
Results from Operating Activities | (56,125) | (136,636) | 59 | (226,707) | (338,429) | 33% | 1,587 | (40,297) | >100 | (28,116) | (119,481) | (76) | |||
Net Finance Cost | (176,560) | (10,266) | ->100 | (411,612) | (26,119) | ->100 | (203,665) | (10,846) | ->100 | (388,691) | (31,518) | ->100 | |||
Loss Before Tax | (232,685) | (146,902) | (58) | (638,319) | (364,548) | (75) | (202,078) | (51,143) | ->100 | (416,807) | (150,999) | ->100 | |||
Income Tax Expense | - | - | - | - | - | - | - | - | - | - | - | - | |||
Loss for the Period | (232,685) | (146,902) | (58) | (638,319) | (364,548) | (75) | (202,078) | (51,143) | ->100 | (416,807) | (150,999) | ->100 | |||
Attributable to : | |||||||||||||||
Equity Holders of the Parent | (240,649) | (115,695) | ->100 | (600,574) | (312,000) | (92) | |||||||||
Non-Controlling Interest | 7,964 | (31,207) | ->100 | (37,745) | (52,549) | 28 | |||||||||
(232,685) | (146,902) | (58) | (638,319) | (364,549) | (75) | ||||||||||
Loss Per Share (Rs.) | (1.90) | (0.91) | (4.75) | (2.47) | |||||||||||
3
Serendib Hotels PLC
STATEMENT OF COMPREHENSIVE INCOME
Group | Company | ||||||||||||
3 Months | 3 Months | % Variance | 9 Months | 9 Months | % Variance | 3 Months | 3 Months | % Variance | 9 Months | 9 Months | % Variance | ||
Ended | Ended | Ended | Ended | Ended | Ended | Ended | Ended | ||||||
Rs.'000 | 31.12.2022 | 31.12.2021 | 31.12.2022 | 31.12.2021 | 31.12.2022 | 31.12.2021 | 30.09.2021 | 30.09.2020 | |||||
Rs. | Rs. | ||||||||||||
Loss for the Period | (232,685) | (146,902) | -58% | (638,319) | (364,548) | -75% | (202,078) | (51,143) | > 100% | (416,807) | (150,999) | > 100% | |
Other Comprehensive Income | - | - | - | - | - | - | - | - | |||||
Other Comprehensive Expense for the Period | |||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | ||
Total Comprehensive Expense for the Period | |||||||||||||
(232,685) | (146,902) | -58% | (638,319) | (364,548) | -75% | (202,078) | (51,143) | > 100% | (416,807) | (150,999) | > 100% | ||
Attributable to: | |||||||||||||
Equity Holders of the Parent | (240,649) | (115,695) | > 100% | (600,574) | (311,999) | -92% | |||||||
Non Controlling Interest | 7,964 | (31,207) | > 100% | (37,745) | (52,549) | 28% | |||||||
(232,685) | (146,902) | -58% | (638,319) | (364,548) | -75% | ||||||||
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