Ambeon : Interim Financial Statements as at 31 December 2021

Interim Financial Statements

period ended 31 December 2021

		Corporate Information
Domicile & Legal Form	Ambeon Holdings PLC is a Public Limited Liability Company incorporated and domiciled in Sri Lanka.
	The registered office of the Company is located at No. 10, 5th Floor, Gothami Road, Colombo 08.
	Quoted on the Colombo Stock Exchange on the 01st January 1970 and Incorporated in Sri Lanka
	on 29th December 1910.
Principal Activity & Nature	Investment Holding and Managing Company
of the Company
Company Reg. No.	PQ 26
Board of Directors	Mr. S. E. Gardiner	-	Chairman
	Mr. A. L. Devasurendra	-	Deputy Chairman
	Mr. A. G. Weerasinghe	-	Non-Executive Director
	Mr. E. M. M. Boyagoda	-	Non-Executive Director
	Mr. R. P. Pathirana	-	Non-Executive Director
	Dr. K S Narangoda	-	Executive Director
	Mr. R. T. Devasurendra	-	Alternate Director for Mr. A. L. Devasurendra
Secretaries	P W CORPORATE SECRETARIAL (PRIVATE) LIMITED
	3/17, Kynsey Road, Colombo 08.
Registrars	S S P CORPORATE SERVICES (PRIVATE) LIMITED
	101, Inner Flower Road,	Colombo 3
Auditors	ERNST & YOUNG
	Chartered Accountants, No. 201, De Saram	Place, Colombo 10.
Bankers	Pan Asia Banking Corporation PLC
	Nations Trust Bank PLC
	Seylan Bank PLC
	National Development Bank PLC
	Peoples Bank
	Standard Chartered Bank
Contact Details	Registered Office
	No. 10, 5th Floor, Gothami Road, Colombo 08.
	Telephone	- '[phone]
	Fax	- '[phone]
	Email	:[e-mail]
	Website	:ambeonholdings.com

1

AMBEON HOLDINGS PLC AND ITS SUBSIDIARIES

STATEMENT OF PROFIT OR LOSS

		GROUP				COMPANY
For the Quarter Ended 31st December,		2021		2020	% Change		2021		2020	% Change
		Un-Audited		Un-Audited			Un-Audited		Un-Audited
Continuing Operations		Rs 000		Rs 000			Rs 000		Rs 000
Revenue		4,328,500		2,532,259	71%		454,028		296,379	53%
Direct Cost		(3,079,276)		(1,905,871)	62%		-		-	0%
Gross Profit					99%					53%
	1,249,224		626,388		454,028		296,379
Other Income		131,888		9,691	1261%		158,500		-	100%
Selling and Distribution Expenses		(161,832)		(133,486)	21%		-		-	0%
Administrative Expenses		(447,574)		(300,734)	49%		(39,212)		(39,679)	-1%
Change in Fair Value of Financial Assets measured at fair value through Profit or
Loss		(75,198)		818	-9293%		(92,700)		811	-11530%
Operating Profit					244%					87%
	696,508		202,677		480,616		257,511
Finance Income		95,310		29,860	219%		-		-
Finance Cost		(82,651)		(92,844)	-11%		(31,224)		(80,021)	61%
Profit Before Tax from Continuing Operations					408%					153%
	709,168		139,692		449,392		177,490
Income Tax Expense		(70,336)		(53,978)	30%		-		(33,879)	-
Profit for the Period from Continuing Operations					645%					213%
	638,831		85,714		449,392		143,611
Discontinued Operations
Profit/(Loss) after tax for the period from discontinued operations - Note 10		-		(570,962)	-100%		-		-	-
Profit/(Loss) for the period
	638,831		(485,249)			449,392		143,611
Profit/(Loss)Attributable to:
Equity Holders of the Company		577,180		(523,453)
Non - Controlling Interests		61,651		38,203
		638,831		(485,249)
Earnings/(Loss) per share
Basic		1.62		(1.47)			1.26		0.40
Diluted		1.62		(1.47)			1.26		0.40
Earnings per share from Continuing Operations
Basic		1.62		0.09			1.26		0.40
Diluted		1.62		0.09			1.26		0.40

The Notes form an integral part of these Financial Statements

Figures in bracket indicate deductions

2

AMBEON HOLDINGS PLC AND ITS SUBSIDIARIES

STATEMENT OF OTHER COMPREHENSIVE INCOME

	GROUP			COMPANY
For the Quarter Ended 31st December,	2021			2020		2021	2020
	Un-Audited		Un-Audited		Un-Audited		Un-Audited
	Rs 000		Rs 000		Rs 000		Rs 000
Profit/ (Loss) for the Period	638,831			(485,249)		449,392	143,611
Other Comprehensive Income
Other Comprehensive Income to be Reclassified to Profit or Loss in
Subsequent Year
Functional/Foreign Currency Translation Difference	-			60,456		-	-
Tax on Functional/Foreign Currency Translation Difference	-			(8,464)		-	-
Effect of Cashflow Hedge Accounting	11,845			(2,190)		-	-
Tax on Cashflow Hedge Accounting	1,456			-		-	-
	13,300			49,802		-		-
Other Comprehensive Income to be Reclassified Not to Profit or
Loss in Subsequent Year
Change in Fair Value of Financial Assets measured at fair value through OCI	7,106			(39,538)		7,106	(39,538)
	7,106			(39,538)		7,106		(39,538)
Total Other Comprehensive Income for the Period, Net of Tax
20,406			10,264		7,106		(39,538)
Total Comprehensive Income for the Period
659,237			(474,985)		456,498		104,073
Total Comprehensive Income Attributable to:
Equity Holders of the Company	593,941			(632,821)
Non - Controlling Interests	65,296			157,836
	659,237			(474,985)

3

AMBEON HOLDINGS PLC AND ITS SUBSIDIARIES

STATEMENT OF PROFIT OR LOSS

		GROUP				COMPANY
For the Period Ended 31st December,		2021		2020	% Change		2021		2020	% Change
		Un-Audited		Un-Audited			Un-Audited	Un-Audited
Continuing Operations		Rs 000		Rs 000			Rs 000	Rs 000
Revenue		10,467,493		6,610,432	58%		602,172		535,325	12%
Direct Cost		(7,630,061)		(4,911,503)	55%		-		-	-
Gross Profit					67%					12%
	2,837,432		1,698,929		602,172		535,325
Other Income		182,182		28,777	533%		158,500		-	-
Selling and Distribution Expenses		(378,383)		(346,700)	9%		-		-	-
Administrative Expenses		(1,156,728)		(822,885)	41%		(296,706)		(89,555)	231%
Change in Fair Value of Financial Assets measured at fair value through Profit or
Loss - Note 9		236,387		(5,380)	4494%		207,407		(5,391)	3947%
Gain/(Loss) From Disposal of subsidiaries - Note 10		1,675,785		-	100%		(373,045)		-	-100%
Operating Profit					515%					-32%
	3,396,675		552,741		298,327		440,378
Finance Income		132,557		108,796	22%		-		-
Finance Cost		(216,529)		(338,923)	-36%		(109,597)		(286,961)	-62%
Profit Before Tax from Continuing Operations					927%					23%
	3,312,704		322,614		188,730		153,417
Income Tax Expense		(198,874)		(151,648)	31%		-		(33,879)	-100%
Profit for the Period from Continuing Operations					1721%					58%
	3,113,830		170,966		188,730		119,539
Discontinued Operations
Profit/(Loss) after tax for the period from discontinued operations - Note 11		-		(417,416)	-100%		-		-	-
Profit/(Loss) for the period
	3,113,830		(246,450)			188,730		119,539
Profit/(Loss) Attributable to:
Equity Holders of the Company		2,895,405		(403,968)
Non - Controlling Interests		218,425		157,519
		3,113,830		(246,450)
Earnings/(Loss) per share
Basic		8.11		(1.13)			0.53		0.33
Diluted		8.11		(1.13)			0.53		0.33
Earnings per share from Continuing Operations
Basic		8.11		0.01			0.53		0.33
Diluted		8.11		0.01			0.53		0.33

The Notes form an integral part of these Financial Statements

Figures in bracket indicate deductions

4