Waskaduwa Beach Resort PlcCSELK: CITW.N0000

Interim Financial Statements for the quarter ended 30th June 2025

· Issued by Waskaduwa Beach Resort PLC

Waskaduwa Beach Resort PLC

Interim Financial Statements

For the Quarter ended 30th June 2025

STATEMENT OF COMPREHENSIVE INCOME

Quarter Ended 30th June

Year ended 31st March

2025

2024

2025

Unaudited

Unaudited

Favourable /

Unaudited

Rs.

Rs.

(Adverse) %

Rs.

Revenue from contract with customers

239,900,379

234,152,203

2%

1,220,147,112

Cost of sales

(87,376,499)

(89,669,744)

3%

(418,093,047)

Gross profit

152,523,880

144,482,459

6%

802,054,065

Other income and gains

307,615

218,786

41%

2,808,820

Administrative expenses

(82,716,131)

(81,973,323)

-1%

(346,752,604)

Operating expenses

(82,338,932)

(92,129,674)

11%

(348,872,293)

Selling and marketing expenses

(6,176,191)

(9,978,055)

38%

(37,190,613)

Operating Profit (loss)

(18,399,759)

(39,379,807)

53%

72,047,375

Finance income

560,718

608,136

-8%

2,336,074

Finance expenses

(53,382,887)

(72,503,925)

26%

(244,085,413)

Profit/ (loss) before tax

(71,221,928)

(111,275,596)

36%

(169,701,964)

Income tax expenses / (Reversal)

(117,064)

(182,441)

36%

521,666

Net loss for the period

(71,338,992)

(111,458,037)

36%

(169,180,298)

Other comprehensive income/ (loss)

Other comprehensive income (loss) not to be reclassified to profit or loss in subsequent periods:

Revaluation gain on land & building

-

-

0%

111,451,637

Deferred tax effect on revaluation of land and building

-

-

0%

(33,435,491)

Actuarial gain (loss) on defined benefit obligation

-

-

0%

700,313

Deferred tax effect on actuarial gain /(loss)on defined obligation

-

-

0%

(210,094)

Other comprehensive income/(loss) for the period / year, net of tax

-

-

0%

78,506,365

Total comprehensive Income/( loss) for the period / year, net of tax

(71,338,992)

(111,458,037)

36%

(90,673,933)

Basic earnings/ (loss) per share - (Rs)

(0.08)

(0.18)

(0.19)

STATEMENT OF FINANCIAL POSITION

As at

ASSETS

Non current assets

Property, plant and equipment

30.06.2025

Unaudited Rs.

5,469,111,200

31.03.2025

Unaudited Rs.

5,500,436,563

5,469,111,200

5,500,436,563

Current assets

Inventories

34,796,761

36,662,290

Trade and other receivables

55,031,844

171,329,171

Advance and prepayments

84,107,037

22,348,684

Tax receivables

332,157

304,122

Cash and cash equivalents

65,886,415

59,859,720

240,154,214

290,503,987

Total assets

5,709,265,414

5,790,940,550

EQUITY AND LIABILITIES

Capital and reserves

Stated capital

3,579,991,156

3,579,991,156

Revaluation reserve

2,110,253,604

2,110,253,604

Accumulated losses

(3,544,719,302)

(3,473,380,310)

Total equity

2,145,525,458

2,216,864,450

Non-current liabilities

Interest bearing loans and borrowings

1,400,454,069

1,446,954,070

Other Payable - Related Parties

411,186,983

379,186,983

Deferred tax liability

902,668,970

902,551,905

Retirement benefit obligation

10,528,117

10,693,750

2,724,838,139

2,739,386,708

Current liabilities

Trade and other payables

456,781,343

451,568,749

Interest bearing loans and borrowings

370,916,781

377,841,511

Contract liability

11,203,693

5,279,131

838,901,817

834,689,391

Total equity and liabilities

5,709,265,414

5,790,940,550

These Financial Statements are in compliance with the requirements of the Companies Act No. 07 of 2007.



………..………………… Kaushika Ranasinghe Group Head of Finance

The Board of Directors is responsible for the preparation and presentation of these Financial Statements. Signed for and on behalf of the Board by;

………..…………………





………..…………………

P C B Talwatte P L P Withana

Director/ Group CEO

15 August 2025 Colombo

Director

STATEMENT OF CHANGES IN EQUITY

Stated Capital

Revaluation

Reserve

Retained

Earnings

Total

Rs.

Rs.

Rs.

Rs.

Balance as at 01st April 2024

2,901,702,750

2,373,160,432

(3,303,310,737)

1,971,552,445

Issue of Shares

678,288,406

-

-

678,288,406

Profit/(Loss) for the period

-

-

(111,458,038)

(111,458,038)

Balance as at 30th June 2024

3,579,991,156

2,373,160,432

(3,414,768,775)

2,538,382,813

Balance as at 01st April 2025

3,579,991,156

2,110,253,604

(3,473,380,310)

2,216,864,450

Profit/(Loss) for the period

-

-

(71,338,992)

(71,338,992)

Balance as at 30th June 2025

3,579,991,156

2,110,253,604

(3,544,719,302)

2,145,525,458

STATEMENT OF CASH FLOW

Year ended Year ended

30.06.2025

30.06.2024

Unaudited

Unudited

Rs.

Rs.

Cash flows from / (used in) operating activities

Net loss before income tax expenses

(71,221,928)

(111,275,596)

Adjustments for :

Depreciation

35,596,842

42,407,388

Provision for retirement benefit obligation

598,052

684,663

Impairment of trade receivables

-

-

Finance income

(560,718)

(608,136)

Finance cost

53,382,887

72,503,926

Operating profit/(loss) before working capital changes

17,795,135

3,712,245

Decrease/(increase) in trade & other receivables

116,297,327

144,225,549

Decrease /(Increase) in inventories

1,865,530

703,845

Decrease /(Increase) in other non-financial assets

(61,758,353)

174,900

Increase/(decrease) in contract liabilities

5,924,562

(2,418,013)

Increase /(decrease) in trade & other payables

5,212,595

(164,517,870)

Cash generated from/(used in) operations

85,336,796

(18,119,344)

Gratuity paid

(763,685)

(360,900)

Finance cost paid

(45,097,254)

(63,186,928)

Net cash generated from/(used in) operating activities

39,475,857

(81,667,172)

Cash flows from/(used in) investing activities

Acquisition of property, plant & equipment

(4,271,479)

(1,074,485)

Finance income received

515,861

610,225

Net cash from/(used in) investing activities

(3,755,618)

(464,260)

Cash flows from/(used in) financing activities

Repayment of Term Loan

(38,720,000)

(397,300,503)

Proceeds from Rights Issue

-

116,473,810

Net financed from related parties

23,731,188

365,225,414

Net cash from/(used in) financing activities

(14,988,812)

84,398,721

Net increase/(decrease) in cash and cash equivalents

20,731,427

2,267,289

Cash & cash equivalents at the beginning of the period

(79,391,793)

(93,157,464)

Cash and cash equivalents at the end of the period (Note A)

(58,660,366)

(90,890,175)

Note A

Analysis of cash and cash equivalents

Cash in hand and cash at bank

65,886,415

55,259,182

Bank overdraft

(124,546,781)

(146,149,357)

Total cash and cash equivalents

(58,660,366)

(90,890,175)

NOTES TO THE INTERIM FINANCIAL STATEMENTS

  1. Corporate Information

    Waskaduwa Beach Resort PLC, is a public limited liability company incorporated and domiciled in Sri Lanka and whose shares are listed on the Colombo Stock Exchange and publicly traded.

  2. Approval of Financial Statements

    The interim condensed financial statements of the company for the three months ended 30th June 2025 were authorised for issue by the Board of Directors on 15th August 2025.

  3. Basis of preparation and Company's accounting policies

    The interim condensed financial statements have been prepared in compliance with Sri Lanka Accounting Standard - LKAS 34 - Interim Financial Reporting and also provide the information required by the Colombo Stock Exchange. These interim condensed financial statements should be read in conjunction with the annual financial statements for the year ended 31 March 2025.

  4. Events Subsequent to the Reporting Date

    There have been no events subsequent to the reporting date, which require disclosure in the interim condensed financial statements.

  5. Contingent Liabilities

    There has not been a significant change in the nature of the contingent liabilities, which were disclosed in the Annual Report for the year ended 31st March 2025.

  6. Comparative Figures

    Where necessary, comparative figures have been re-stated to conform with SLFRS/LKAS.

  7. Share information
    1. Basic Earnings/(Loss) per share

Quarter ended 30 June

Year ended 31st March

2025

Rs.

2024

Rs.

2025

Basic Earnings/(Loss) per share

(0.08)

(0.18)

(0.19)

7.2

Net assets per share

Net assets per share have been calculated, for all periods, based on the number of shares in issue as at the reporting date.

As at

30.06.2024 31.03.2025

30.06.2025

Rs.

2.29

Rs. Rs.

Net assets per share 4.12 2.47

7.3 Market Price Per Share

For the quarter ended 30th June 2025 2024

Last Traded

Date Price (Rs.)

Date Price (Rs.)

30.06.2025

2.10

08.05.2024

2.70

09.04.2025

1.80

19.04.2024

2.00

30.06.2025

2.00

28.06.2024

2.30

7.4

Stated Capital

Stated capital is represented by the number of shares in

issue as given below:

As at

30.06.2025

31.03.2025

Number

Rs.

Number

Rs.

As at the beginning of the year

936,683,988

3,579,991,155

559,857,096

2,901,702,750

Issue of shares

-

-

376,826,892

678,288,405

Issued and fully-paid - ordinary shares

936,683,988

3,579,991,155

936,683,988

3,579,991,155

  1. The percentage of the shares held by public as at 30th June 2025 was 44.03% (As at 30th June 2024 was 17.16%) comprising 4,713 shareholders (As at 30th June 2024 was 3,276 shareholders).

    The Float Adjusted Market Capitalisation of the Company as at 30th June 2025 is Rs.824,801,446.00 and the Company falls under Option 2 of Rule 7.13.1(i) (b) of the Listing Rules of the Colombo Stock Exchange.

  2. The number of shares held by the Board of Directors and CEO are as follows,

    Director Name

    As at 30.06.2025

    As at 30.06.2024

    Ms.V.S. F. Amunugama Mr. S. A. Ameresekere Mr. R. Seneviratne

    Mr. J.M.B Pilimatalawwe Mr. S.D.De Mel

    Mr. S.M.A.D.S. Sugathapala Mr. P.L.P.Withana

    -

    -

    -

    -

    -70,192

    -

    `

    -

    -

    -

    -

    -70,192

    -

    Chief Executive Officer

    Mr. P.C.B Talwatte

    -

    -

  3. Twenty Largest Ordinary Shareholders of the Company as follows;

No.

Shareholder

As at 30 June 2025

%

1

National Development Bank PLC/Hikkaduwa Beach Resort PLC

328,054,300

524,213,073

55.96%

Hikkaduwa Beach Resort PLC

196,158,773

2

Seylan Bank PLC/A.C.Senanka

8,050,000

0.86%

3

Mr. W.A.S.P. De Saram

7,364,673

0.79%

4

Mr. M.T. Rajab Khan

5,992,131

0.64%

5

Mr. S.A. Thalangama

5,000,000

0.53%

6

Mr. R.E. Rambukwelle

4,750,045

0.51%

7

Mr. M.A.T.G. Manchanayaka

4,250,986

0.45%

8

Mr. T.A.M. Perera

4,163,332

0.44%

9

Mr. S.A. Cooray & Mr. P.T.Cooray,Mrs. S.Nugapitiya

4,078,310

0.44%

10

Mr. J.A.D.K.R. Jayasuriya

4,027,600

0.43%

11

Dr. M.N. Samarakoon

4,020,320

0.43%

12

Merchant Bank Of Sri Lanka & Finance PLC 01

4,000,000

0.43%

13

Assetline Finance Limited/M.W.A.Lakmal

4,000,000

0.43%

14

Mr. A.S. Jayasinghe

3,977,170

0.42%

15

Emarketingeye (Pvt) Ltd

3,779,439

0.40%

16

Mr. S.V.P.V.K. Senadeera

3,511,307

0.37%

17

Mrs. W.A.N.M. De Seram

3,373,370

0.36%

18

Hatton National Bank Plc/Ravindra Erle Rambukwelle

3,300,000

0.35%

19

Mr. G.G.A.M.R.K. Abeykoon

3,208,800

0.34%

20

People S Leasing And Finance PLC/L.P.Hapangama

3,000,000

0.32%

608,060,556

64.92%

Others

328,623,432

35.08%

Total

936,683,988

100.00%

CORPORATE INFORMATION

NAME OF COMPANY NOMINATION COMMITTEE

Waskaduwa Beach Resort PLC Mr. P.N. Mahawatte (Chairman) Mr. S.P.S. Ranatunga

LEGAL FORM Mr. J.M.B. Pilimatalawwe

Public Quoted Company with limited liability Incorporated in Sri

Lanka.

RELATED PARTY TRANSACTIONS REVIEW COMMITTEE

STOCK EXCHANGE LISTING Mr. P.L.P. Withana (Chairman)

The issued ordinary shares of the Company are listed on the Diri Savi Board of the Colombo Stock Exchange of Sri Lanka.

Mr. S.P.S. Ranatunga Mr. S.A. Ameresekere

COMPANY REGISTRATION NO.

PB 4242 PQ COMPANY SECRETARIES

P W Corporate Secretarial (Pvt) Ltd.

REGISTERED OFFICE No.3/17, Kynsey Road,

No: 56/1, Kynsey Road, Colombo 08. Colombo 08. Telephone : 0117 755 388

E-mail : direct@citrusleisure.com COMPANY REGISTRARS

Website : https://www.citrusleisure.com Central Depository Systems (Pvt) Limited Ground Floor, M & M Center,

BOARD OF DIRECTORS 341/5, Kotte Road, Rajagiriya.

Mr. S.P.S. Ranathunga (Chairman)

Mr. P. C. B. Talwatte AUDITORS

Ms.V.S.F. Amunugama Ernst & Young

Mr. S.A. Ameresekere Chartered Accountants

Mr. R.G. Seneviratne Rotunda Towers, 109, Galle Road,

Mr. J.M.B. Pilimatalawwe Colombo 03.

Mr. P.L.P. Withana

Mr. S.M.A.D.S. Sugathapala BANKERS

Mr. P.N. Mahawatte Sampath Bank PLC

Commercial Bank of Ceylon PLC

CHIEF EXECUTIVE OFFICER

Mr. P. C. B. Talwatte INVESTOR RELATIONS

Please contact sector Head of Finance Ms.Kaushika Ranasinghe

AUDIT COMMITTEE +94775700473

Mr. P.L.P. Withana (Chairman) kaushika@citrusleisure.com Mr. S.P.S. Ranatunga

Mr. P.N. Mahawatte

REMUNERATION COMMITTEE

Mr. P.N. Mahawatte (Chairman) Mr. P.L.P. Withana

Mr. S.A. Ameresekere