Seylan Developments PlcCSELK: CSD.N0000

Interim Financial Statements for the Quarter ended 30th June 2025

· Issued by Seylan Developments Plc


Level 15, Seylan Towers, No: 90, Galle Road, Colombo 03. Interim Financial Statements Quarter Ended 30 thJune 2025

SEYLAN DEVELOPMENTS PLC STATEMENT OF FINANCIAL POSITION

Jun 30,2025

Dec 31,2024

(Un Audited)

(Audited)

%

Rs '000

Rs '000

Assets

Non Current Assets

Property, plant & equipment

2,864

2,424

18.15

Investment property

6,005,810

5,997,826

0.13

Other Investments

443,366

431,886

2.66

Retirement benefit assets

4,638

4,638

0.00

Total Non Current Assets

6,456,678

6,436,774

0.31

Current Assets

Inventories

9,242

10,489

(11.89)

Trade and other receivables

48,057

47,740

0.66

Other investments

83,415

94,730

(11.94)

Cash and cash equivalents

9,218

29,358

(68.60)

Total Current Assets

149,932

182,317

(17.76)

Total Assets

6,606,610

6,619,091

(0.19)

Equity and Liabilities

Equity

Stated capital

1,644,392

1,644,392

-

Reserves

508,113

505,710

0.48

Retained earnings

3,329,388

3,370,661

(1.22)

5,481,893

5,520,763

(0.70)

Non Current Liabilities

Deferred tax liability

936,321

924,064

1.33

936,321

924,064

1.33

Current Liabilities

Other liabilities

130,982

125,521

4.35

Income tax payable

47,294

33,607

40.73

Bank overdrafts

10,120

15,136

(33.14)

188,396

174,264

8.11

Total Equity and Liabilities

6,606,610

6,619,091

(0.19)

Net Asset per Share

39.24

39.52

(0.70)

-

  • The Financial Statements have been prepared in compliance with the requirements of the Companies Act no 7 of 2007 .

  • The above figures are subject to audit and has been prepared in compliance with the Rule 7.4 of the CSE Listing Rules and Sri Lanka Accounting Standard - LKAS 34 - Interim Financial Reporting.

Sgd.

Nirmala Arangalage ( Mrs )

Head of Finance

Sgd. Sgd.

Ramesh Jayasekara Najill Farouk

Chairman Independent Non Executive Director

30th July 2025

SEYLAN DEVELOPMENTS PLC

STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

FOR THE QUARTER ENDED

FOR THE SIX MONTHS ENDED

JUNE 30,

JUNE 30,

Growth

JUNE 30, JUNE 30,

2025 2024 Growth

(Un Audited) (Un Audited)

Rs '000 Rs '000 %

2025

2024

(Un Audited)

(Un Audited)

Rs '000

Rs '000

%

Rental Income

92,475

99,197

(6.78)

183,211 200,875 (8.79)

Other Income

4,519

3,251

39.04

5,448 3,479 56.59

Operating Expenses

96,995

(32,791)

102,448

(32,452)

(5.32)

1.04

188,659 204,354 (7.68)

(62,585) (71,227) (12.13)

Operating Profit

64,204

69,996

(8.27)

126,074 133,127 (5.30)

Net Finance income

15,043

17,006

(11.54)

31,668 33,222 (4.68)

Profit Before Taxation

79,246

87,002

(8.91)

157,743 166,349 (5.17)

Taxation

(22,151)

(25,182)

(12.04)

(45,358) (47,282) (4.07)

Profit After Taxation

57,095 61,820

(7.64)

112,385 119,067 (5.61)

Other comprehensive income

Net losses on investment in financial instruments measured at

3,459

1,677

106.28

3,431 18,713 (81.66)

fair value through other comprehensive income

Deferred tax on components of other comprehensive

-

income

(1,038)

(503)

106.28

(1,029) (5,614) (81.66)

Other comprehensive income for the period, net of

income tax

2,421 1,174

106.26

2,402 13,099 (81.69)

Total comprehensive income for the period

59,516

62,994

(5.52)

114,787

132,166

(13.15)

Earnings / (Loss) Per Share

Rs

0.41

Rs

0.44

(7.11)

Rs

0.80

Rs

0.83

(3.07)

SEYLAN DEVELOPMENTS PLC

STATEMENT OF CHANGES IN EQUITY

Stated Capital

Rs '000

Capital Reserve

Rs '000

Revaluation

Fair Value Reserve

Rs '000

Retained Earnings

Rs '000

Total

Rs '000

Reserve

Rs '000

Balance as at 01.01.2024

Total Comprehensive Income for the period

Profit or Loss

Other Comprehensive Income

Net fair value change in investment in debt instruments measured at fair value through other comprehensive Income

Deferred Tax on components of other comprehensive income

Total Comprehensive Income for the period

Transactions recorded directly in equity

Share Repurchase Dividend Paid

Balance as at 30.06.2024 Balance as at 01.01.2025

Total Comprehensive Income for the period

Profit or Loss

Other Comprehensive Income

Net losses on investment in financial instruments measured at fair value through other comprehensive income

Deferred Tax on components of other comprehensive income

Total Comprehensive Income for the period

Transactions recorded directly in equity

Dividend Paid

Balance as at 30.06.2025

1,644,392

-

-

525,494

-

-

3,616

-

-

(41,283)

-

18,713

(5,614)

3,337,356

119,067

-

5,469,575

119,067

18,713

(5,614)

-

-

-

13,099

-

13,099

-

-

-

13,099

119,067

132,166

-

-

-

-

-

-

-

-

(179,105)

(139,688)

(179,105)

(139,688)

-

-

-

-

(318,793)

(318,793)

1,644,392

525,494

3,616

(28,184)

3,137,630

5,282,948

1,644,392

-

-

525,494

-

-

3,616

-

-

(23,399)

-

3,431

(1,029)

3,370,661

112,385

-

5,520,763

112,385

3,431

(1,029)

-

-

-

2,402

112,385

2,402

-

-

-

2,402

112,385

114,787

-

-

-

-

(153,657)

(153,657)

-

-

-

-

(153,657)

(153,657)

1,644,392

525,494

3,616

(20,997)

3,329,388

5,481,893

SEYLAN DEVELOPMENTS PLC

CASH FLOW STATEMENT

For the period

01.01.25 - 30.06.25

01.01.24 - 30.06.24

(Un Audited)

(Un Audited)

Rs. 000

Rs. 000

Cash Flows from Operating Activities

Receipt from other Operating Activities

Cash payments to Employees, Suppliers and Tax Authorities Interest Payments

188,659

204,354

(62,047)

(70,593)

(388)

(3,766)

Operating profit before changes in operating assets

126,224

129,995

(Increase)/Decrease in operating assets :

Stock & Receivables

930

(9,332)

Increase/(Decrease) in operating liabilities :

Deposits & Trade payables

(11,441)

(9,819)

Cash Generated from Operations

115,713

110,844

Income Tax paid

(3,542)

(25,940)

Net cash from Operating Activities

112,171

84,904

Cash Flows from Investing Activities

Interest Received

32,056

36,988

Purchase of non-dealing Securities

(123,268)

(173,703)

Disposal of non-dealing Securities

126,535

94,715

Purchase of Property , Plant and Equipment

(977)

-

Additions to Investment Properties

(7,984)

(3,016)

Net cash from Investing Activities

26,362

(45,016)

Cash Flows from Financing Activities

Dividend Paid

(153,657)

-

Repurchase of shares

-

(179,105)

Net Cash from Financing Activities

(153,657)

(179,105)

Total net increase in cash and cash equivalents during the period

(15,124)

(139,218)

Cash and Cash equivalents at beginning of period

14,222

290,295

Cash and Cash Equivalents at end of period

(902)

151,077

Reconciliation of Cash and Cash Equivalents

Cash and Short Term Funds Bank Overdraft

9,218

151,077

(10,120)

-

(902)

151,077

SEYLAN DEVELOPMENTS PLC

Notes to the Financial Statements

  1. General

    Seylan Developments PLC (the "Company") is a "Public Quoted Company" and a Limited Liability Company Incorporated, reregistered under Companies Act No. 07 of 2007 ( PQ 151 ) and domiciled in Sri Lanka and listed on the Colombo Stock Exchange.

    • The Company's registered office is situated at Level 15, Seylan Towers, No. 90, Galle Road, Colombo 03.

    • The Company is in the business of development of property, administration & maintenance.

    • The Company is a subsidiary of Seylan Bank PLC.

    • The staff strength of the Company as at 30th June 2025 is 16 (2024 - 17).

  2. Accounting Policies

    There are no changes to the accounting policies & method of computation since the publication of the last Annual Report. The interim Financial Statements are presented in accordance with LKAS 34, Interim Financial Reporting. The Interim Financial Statements should be read in conjunction with the Annual Financial Statements for the year ended December 31, 2024 which have been prepared in accordance with LKAS / SLFRS.

  3. Events After the Reporting Period

    There have been no material events after the reporting period that would require adjustments / disclosures in the Financial Statements.

  4. Stated Capital

    139,688,298 Ordinary Shares Rs: 1,644,391,650/-

  5. Share price movement

    Quarter Ended

    Year Ended 31.12.2024

    Rs'

    30.06.2025

    Rs'

    30.06.2024

    Rs'

    Highest Price

    31.90

    19.50

    27.50

    Lowest Price

    20.00

    16.00

    13.90

    Last Traded Price

    28.10

    17.70

    25.00

    Market Capitalization

    3,925,241,174

    2,472,482,875

    3,492,207,450

  6. Comparative Information

Comparative figureshave been re-stated / adjusted where necessary, to conform to the current period presentation.

SEYLAN DEVELOPMENTS PLC

Notes to the Financial Statements

7

Major 20 Share Holder List - As at 30 June 2025

NAME OF SHAREHOLDER

NO OF SHARES 30.06.2025

%

1

Seylan Bank PLC

104,332,112

74.69

2

Mr. A. J. Thissera

4,167,500

2.98

3

Mr. K. D. D. Perera

2,467,200

1.77

4

Mrs. M. M. Udeshi (DESC)

1,287,900

0.92

5

J. B. Cocoshell (Pvt) Ltd

1,065,000

0.76

6

Hatton National Bank PLC / Weththinge Janadasa

940,721

0.67

7

Mr. S. Abishek

767,756

0.55

8

Asian Guild Financial Services (Pvt) Ltd

609,121

0.44

9

Zagra Investment Consultants (Pvt) Ltd

594,200

0.43

10

Mr. B. C. Tay

505,948

0.36

11

Mr. G. Anuragavan

500,100

0.36

12

Mrs. P. M. Tissera

370,500

0.27

13

Mr. A. Van Oosterbrugge

321,400

0.23

14

Assetline Finance Limited / C. Dissanayake

294,000

0.21

15

Mr. V. C. Mahtani

260,428

0.19

16

Mrs. S. H. L. N. P. Disanayake

229,239

0.16

17

Merchant Bank of Sri Lanka & Finance PLC / Nutri Plus (Pvt) Ltd

220,000

0.16

18

Mr. H. G. Balasuriya

216,304

0.15

19

Mrs. M. Y. Amerasinghe

215,000

0.15

20

Mr. H. S. Dissanayake

213,000

0.15

8

Directors' and Chief Executive Officer's Shareholdings as at 30th June 2025

NAME OF DIRECTOR

NO OF SHARES 30.06.2025

1

Mr. R. Jayasekara - Chairman/Non Executive Director

-

2

Mrs. Champika Dodanwela - Non Executive Director

-

3

Mrs. Gillian Edwards - Independent Non Executive Director

-

4

Mr. Najill Farouk - Independent Non Executive Director

-

5

Mr. Tilan Wijeyesekera - Independent Non Executive Director

-

6

Mr. Anuja Ratnaayake, Chief Executive Officer

-

9

Public Shareholdings % as at 30th June 2025

25.31%

No of public shareholders as at 30th June 2025

5,964

Float adjusted market capitalization (Rs:)

993,478,541

The Company complies with option 5 of the Listing Rules 7.13.1 (a) - less than Rs: 2.5 Bn Float adjusted market

capitalization which requires 20% minimum Public Holdings.

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