SIGIRIYA VILLAGE HOTEL PLC
INTERIM RESULTS
FOR THE THREE MONTHS ENDED
30th June - 2022
53 - 1/1, Sir Baron Jayatilaka Mawatha,
Colombo - 1
SIGIRIYA VILLAGE HOTELS PLC
SIGIRIYA VILLAGE
STATEMENT OF COMPREHENSIVE INCOME
For the year | For the Quarter | For Three Months | |||||||
Ended | ended 30th June | ended 30th June | |||||||
31.03.2022 | 2022 | 2021 | Change | 2022 | 2021 | Change | |||
Unaudited | Unaudited | Unaudited | |||||||
Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 | % | ||||
115,108 | Revenue | 40,895 | 23,699 | 73 | 40,895 | 23,699 | 73 | ||
- | |||||||||
(43,185) | Cost of Sales | (19,860) | (6,140) | 223 | (19,860) | (6,140) | 223 | ||
71,923 | Gross Profit | 21,034 | 17,559 | 20 | 21,034 | 17,559 | 20 | ||
17,127 | Other Operating Income | 5,302 | 3,970 | 5,302 | 3,970 | ||||
(126,908) | Administrative & Operating Expenses | (45,180) | (31,582) | 43 | (45,180) | (31,582) | 43 | ||
(1,275) | Promotional & Marketing Expenses | (319) | (276) | 16 | (319) | (276) | 16 | ||
86 | |||||||||
(39,134) | Profit from Operating Activities | (19,163) | (10,329) | (19,163) | (10,329) | 86 | |||
(16,150) | Finance Cost | (10,838) | (7,737) | 40 | (10,838) | (7,737) | 40 | ||
66 | |||||||||
(55,284) | (30,001) | (18,066) | (30,001) | (18,066) | 66 | ||||
- | Share of Profit/(Loss) of Equity Accounted Investee | - | - | - | - | - | - | ||
66 | |||||||||
(55,284) | Profit /(Loss) before Taxation | (30,001) | (18,066) | (30,001) | (18,066) | 66 | |||
- | Taxation | - | - | #DIV/0! | |||||
66 | |||||||||
(55,284) | Net Profit /(Loss) for the Period | (30,001) | (18,066) | (30,001) | (18,066) | 66 | |||
Other Comprehensive Income | |||||||||
- | Actuarial Gain /( Loss ) on defined benefit plans | ||||||||
64,792 | Gain / (Loss) on Available for Sale - Financial Assets | (1,700) | - | (1,700) | - | ||||
Revaluation Surplus on Lands | |||||||||
Deferred Tax on Revaluation Surplus on lands | |||||||||
9,508 | Total Comprehensive Income for the Period | (30,001) | (19,766) | 52 | (30,001) | (19,766) | 52 | ||
(6.14) | Earnings Per Share | (1.32) | (2.01) | (3.33) | (2.01) | ||||
SIGIRIYA VILLAGE HOTELS PLC
SIGIRIYA VILLAGE
STATEMENT OF FINANCIAL POSITION
31.03.2022 | AS AT 30th June | 2022 | 2021 | |
Unaudited | Unaudited | Unaudited | ||
Rs.'000 | Rs.'000 | Rs.'000 | ||
ASSETS | ||||
NON CURRENT ASSETS | ||||
385,803 | Property Plant & Equipment | 381,034 | 400,018 | |
72,622 | Investment In Associate | 72,622 | 72,622 | |
24,407 | Investments Properties | 24,407 | 24,407 | |
23,051 | Leasehold Land | 23,051 | 23,051 | |
165,694 | Financial Assets | 165,694 | 99,202 | |
671,576 | 666,808 | 619,299 | ||
CURRENT ASSETS | ||||
9,225 | Inventories | 7,320 | 10,021 | |
11,916 | Trade Debtors & Other receivables | 12,343 | 9,520 | |
305,706 | Amounts Owed by Related Companies | 301,685 | 293,829 | |
6,325 | Cash & Cash Equivalents | 7,822 | 3,528 | |
333,171 | 329,170 | 316,897 | ||
1,004,747 | Total Assets | 995,977 | 936,197 | |
EQUITY & LIABILITIES | ||||
CAPITAL & RESERVES | ||||
363,722 | Stated Capital | 363,722 | 363,722 | |
Revaluation Surplus on Lands & Buildings | ||||
27,885 | Fair Value Gain on Available for Sale Financial Assets | 27,885 | 8,737 | |
140,319 | Revenue Reserves | 110,318 | 130,193 | |
531,926 | 501,925 | 502,652 | ||
NON CURRENT LIABILITIES | ||||
143,042 | Interest Bearing Borrowings | 149,322 | 136,584 | |
16,784 | Retirement Benefit Obligations | 17,042 | 15,482 | |
28,434 | Lease Liability | 28,434 | 28,434 | |
28,899 | Deferred Taxation | 28,899 | 28,899 | |
217,160 | 223,697 | 209,399 | ||
CURRENT LIABILITIES | ||||
95,927 | Trade Creditors & Other Payables | 103,132 | 71,204 | |
373 | Lease Liability | 373 | 373 | |
5,157 | Amounts Owed to Related Companies | 20,223 | 5,619 | |
16,917 | Taxation | 16,917 | 16,917 | |
31,268 | Interest Bearing Borrowings | 31,268 | 31,268 | |
106,020 | Bank Overdrafts | 98,442 | 98,765 | |
255,661 | 270,355 | 224,145 | ||
1,004,747 | Total Equity & Liabilities | 995,977 | 936,197 | |
59.10 | Net Assets Per Share | 55.77 | 55.85 | |
For and on behalf of the Board , | ||||
Sgd | Sgd | |||
Director | Director | |||
Anushman Rajaratnam | Amirt Rajaratnam | |||
Colombo | ||||
22nd July 2022 |
SIGIRIYA VILLAGE HOTELS PLC
SIGIRIYA VILLAGE
STATEMENT OF CHANGES IN EQUITY
Fair Value Gain on | Revenue | |||
Stated Capital | Available For Sale | Total | ||
Reserves | ||||
Financial Assets | ||||
Rs. '000 | Rs. '000 | Rs. '000 | Rs. '000 | |
Balance as at 01.04.2021 | 363,722 | 10,437 | 148,259 | 522,418 |
Profit for the Period | - | (18,066) | (18,066) | |
Other comprehensive Income/(Expense) | - | (1,700) | (1,700) | |
Balance as at 30.06.2021 | 363,722 | 8,737 | 130,193 | 502,652 |
Balance as at 01.04.2022 | 363,722 | 27,885 | 140,319 | 531,926 |
Profit for the Period | - | - | (30,001) | (30,001) |
Balance as at 30.06.2022 | 363,722 | 27,885 | 110,318 | 501,925 |
SIGIRIYA VILLAGE HOTELS PLC
SIGIRIYA VILLAGE
STATEMENT OF CASH FLOWS
31.03.2022 | For the period ended 30th June - 2022 | 2022 | 2021 |
Unaudited | Unaudited | Unaudited | |
Rs.'000 | Rs.'000 | Rs.'000 | |
(55,284) | Net Profit/(Loss) before Taxation | (30,001) | (18,066) |
Adjustment for Non-Cash Items | |||
19,604 | Depreciation | 4,909 | 4,896 |
Impairment | |||
Interest Expenses | |||
other income | |||
Share of Associate Company's Profit | - | ||
2,455 | Provision for Gratuity | 555 | 614 |
(33,224) | Operating Profit/(Loss) Before Working Capital Changes | (24,537) | (12,556) |
1,948 | (Increase)/Decrease in Inventories | 1,905 | 1,152 |
3,378 | (Increase)/Decrease in Debtors & Receivables | (427) | 5,774 |
(14,143) | (Increase)/Decrease in Related Party Balances | 19,087 | (1,814) |
27,795 | Increase /(Decrease) in Creditors & Accruals | 7,206 | 3,073 |
18,978 | 27,771 | 8,185 | |
(14,245) | Cash Generated from Operations | 3,235 | (4,370) |
Dividend Paid | - | ||
- | Interest Paid | - | - |
Taxes Paid | |||
(539) | Gratuity Paid | (297) | - |
(14,785) | Net Cash Flow From / (Used in) Operating Activities | 2,937 | (4,371) |
Cash Flows From / (Used in) Investing Activities | |||
(532) | Acquisition of Property Plant & Equipment | (141) | (40) |
- | Transfer of WIP | - | - |
- | Investment In Financial Assets | - | - |
Proceeds from Disposal of Property, Plant & Equipment | - | ||
(532) | Net Cash Flows From / (Used in) Investing Activities | (141) | (40) |
Cash Flows From / (Used in) Financing Activities | |||
(104) | Repayment of Loans and Leases | ||
Net Proceeds from Interest Bearing Borrowings | |||
Dividend Paid | |||
6,554 | Loan Proceeds | 6,279 | - |
6,450 | Net Cash Flows From / (Used in) Financing Activities | 6,279 | - |
(8,868) | Net Change in Cash & Cash Equivalents during the year | 9,075 | (4,411) |
(90,826) | Cash & Cash Equivalents at the beginning of the year | (99,694) | (90,826) |
(99,694) | Cash & Cash Equivalents at the end of the year | (90,619) | (95,237) |
Analysis of Cash & Cash Equivalents at the end of the Period | |||
6,325 | Cash in Hand | 7,822 | 3,528 |
(106,020) | Bank Overdraft | (98,442) | (98,765) |
(99,694) | (90,619) | (95,237) | |
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