Asian Hotels and Properties : Interim Financial Statements as @ 31st December 2021

Interim Condensed Financial Statements

ASIAN HOTELS AND PROPERTIES PLC

CONSOLIDATED INCOME STATEMENT

	For the quarter ended 31st December	For the period ended 31st December
	2021	2020	%		2021	2020	%
	Rs'000	Rs'000	Change	Rs'000	Rs'000	Change
Revenue from contracts with customers	1,430,386	384,840	272		2,373,189	1,165,119	104
Cost of Sales	(852,608)	(436,459)	95		(1,687,992)	(1,249,646)	35
Gross Profit / (Loss)	577,778	(51,619)	(1,219)		685,197	(84,527)	(911)
Other Operating Income	1,007	3,410	(70)		63,054	21,838	189
Distribution Expenses	(51,134)	(39,768)	29		(145,247)	(107,572)	35
Administrative Expenses	(392,878)	(431,238)	(9)		(1,054,459)	(1,213,155)	(13)
Other Operating Expenses	(118,725)	(81,627)	45		(282,241)	(216,146)	31
Results from Operating Activities	16,048	(600,842)	(103)		(733,696)	(1,599,562)	(54)
Finance Cost	(30,377)	(4,964)	512		(71,429)	(10,502)	580
Finance Income	1,915	6,060	(68)		5,925	29,297	(80)
Net Finance Income	(28,462)	1,096	(2,697)		(65,504)	18,795	(449)
Loss Before Tax	(12,414)	(599,746)	(98)		(799,200)	(1,580,767)	(49)
Tax Expense	(7,715)	24,919	(131)		(650)	59,079	(101)
Loss for the Period	(20,129)	(574,827)	(96)		(799,850)	(1,521,688)	(47)
Attributable to:
Equity Holders of the Parent	(38,987)	(467,913)	(92)		(678,977)	(1,237,375)	(45)
Non-controlling Interests	18,858	(106,914)	(118)		(120,873)	(284,313)	(57)
	(20,129)	(574,827)	(96)		(799,850)	(1,521,688)	(47)
Loss Per Share (Rs.)	(0.09)	(1.06)			(1.53)	(2.79)
Dividend per Share ( Rs.)	-	-			-	-

Figures in brackets indicate deductions

The above figures are not audited.

Asian Hotels and Properties PLC

Interim Condensed Financial Statements

ASIAN HOTELS AND PROPERTIES PLC

COMPANY INCOME STATEMENT

	For the quarter ended 31st December	For the period ended 31st December
	2021	2020	%		2021	2020	%
	Rs'000	Rs'000	Change	Rs'000	Rs'000	Change
Revenue from contracts with customers	801,992	197,532	306		1,310,201	613,065	114
Cost of Sales	(497,244)	(272,196)	83		(1,010,098)	(777,150)	30
Gross Profit / (Loss)	304,748	(74,664)	(508)		300,103	(164,085)	(283)
Other Operating Income	643	2,781	(77)		61,008	18,850	224
Distribution Expenses	(21,984)	(28,136)	(22)		(69,155)	(69,435)	(0)
Administrative Expenses	(239,825)	(237,296)	1		(662,645)	(688,062)	(4)
Other Operating Expenses	(64,481)	(46,501)	39		(151,334)	(122,971)	23
Results from Operating Activities	(20,899)	(383,816)	(95)		(522,023)	(1,025,703)	(49)
Finance Cost	(17,941)	(1,587)	1030.498		(40,216)	(1,587)	2434.089
Finance Income	1,439	5,413	(73)		4,486	26,388	(83)
Net Finance Income	(16,502)	3,826	(531)		(35,730)	24,801	(244)
Loss Before Tax	(37,401)	(379,990)	(90)		(557,753)	(1,000,902)	(44)
Tax Expense	(16,051)	(18,378)	(13)		(28,502)	(18,378)	55
Loss for the Period	(53,452)	(398,368)	(87)		(586,255)	(1,019,280)	(42)
Loss Per Share (Rs.)	(0.12)	(0.90)			(1.32)	(2.30)
Dividend per Share ( Rs.)	-	-			-	-

Figures in brackets indicate deductions

The above figures are not audited.

Asian Hotels and Properties PLC

Interim Condensed Financial Statements

ASIAN HOTELS AND PROPERTIES PLC

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

	For the quarter ended 31st	For the period ended 31st
	December		December
					2020
In Rs.'000s	2021		2020	2021
Loss for the period	(20,129)		(574,827)	(799,850)	(1,521,688)
Other comprehensive income
Net other comprehensive income not to be reclassified to Income
Statement in subsequent periods	-		-	-	-
Total comprehensive income for the period, net of tax	(20,129)		(574,827)	(799,850)	(1,521,688)
Attributable to :
Equity holders of the parent	(38,986)		(474,969)	(678,977)	(1,237,375)
Non-controlling interests	18,857		(99,858)	(120,873)	(284,313)
	(20,129)		(574,827)	(799,850)	(1,521,688)

ASIAN HOTELS AND PROPERTIES PLC

COMPANY STATEMENT OF COMPREHENSIVE INCOME

	For the quarter ended 31st	For the period ended 31st
	December		December
In Rs.'000s	2021		2020	2021	2020
					(1,019,280)
Loss for the period	(53,452)		(398,368)	(586,255)
Other comprehensive income
Net other comprehensive income not to be reclassified to Income
Statement in subsequent periods	-		-	-	-
Total comprehensive income for the period, net of tax	(53,452)		(398,368)	(586,255)	(1,019,280)

Figures in brackets indicate deductions.

The above figures are not audited.

Asian Hotels and Properties PLC

Interim Condensed Financial Statements

ASIAN HOTELS AND PROPERTIES PLC

CONSOLIDATED STATEMENT OF FINANCIAL POSITION
		AHP/42/2019
	Unaudited	Audited
As at	31st December 2021	31st March 2021
	Rs '000	Rs '000
ASSETS
Non Current Assets
Property, Plant and Equipment	33,896,927	34,198,342
Right of use Asset	722,533	731,836
Investment Property	5,005,270	5,005,270
Intangible Assets	1,146	1,680
Investment Property - Work in Progress	432,189	113,015
Non Current Financial Assets	21,649	27,722
Other Non Current Assets	13,341	3,009
Total Non Current Assets	40,093,055	40,080,874
Current Assets
Inventories	174,639	107,085
Trade and Other Receivables	382,309	162,606
Amounts Due from Related Parties	45,865	33,490
Other Current Assets	146,038	135,957
Short Term Investments	-	198,535
Cash in Hand and at Bank	119,587	150,385
Total Current Assets	868,438	788,058
Total Assets	40,961,493	40,868,932
EQUITY & LIABILITIES
Equity
Stated Capital	3,345,117	3,345,117
Revenue Reserves	5,002,745	5,673,539
Other Components of Equity	22,278,933	22,287,036
Equity attributable to owners of the company	30,626,795	31,305,692
Non-controlling Interest	3,186,728	3,307,203
Total Equity	33,813,523	34,612,895
Non Current Liabilities
Interest Bearing Borrowings	404,293	59,436
Deferred Tax Liabilities	3,698,617	3,736,792
Employee Benefit Liabilities	359,360	378,361
Total Non Current Liabilities	4,462,270	4,174,589
Current Liabilities
Trade and Other Payables	1,026,904	726,277
Amounts Due to Related Parties	74,536	69,364
Income Tax Liabilities	31,403	37,192
Interest Bearing Borrowings	432,750	208,797
Other Current Liabilities	220,924	267,982
Bank Overdrafts	899,183	771,836
Total Current Liabilities	2,685,700	2,081,448
Total Liabilities	7,147,970	6,256,037
Total Equity and Liabilities	40,961,493	40,868,932
Net Assets Per Share (Rs.)	69.17	70.70
The above figures are not audited.

I certify that the Financial Statements have been prepared in compliance with the requirements of the Companies Act No. 7 of 2007.

C.L.P. Gunawardane

Chief Financial Officer / Director

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

K.N.J. Balendra	J.G.A. Cooray
Chairman	Director
24th January 2022

Asian Hotels and Properties PLC

Interim Condensed Financial Statements

ASIAN HOTELS AND PROPERTIES PLC
COMPANY STATEMENT OF FINANCIAL POSITION
		AHP/42/2019
	Unaudited	Audited
As at	31st December 2021	31st March 2021
	Rs '000	Rs '000
ASSETS
Non Current Assets
Property, Plant and Equipment	30,536,413	30,773,023
Investment Property	2,239,764	2,239,764
Intangible Assets	667	991
Investments in Subsidiary	660,045	660,045
Investment Property - Work in Progress	432,189	113,015
Non Current Financial Assets	8,548	15,174
Other Non Current Assets	11,785	985
Total Non Current Assets	33,889,411	33,802,997
Current Assets
Inventories	116,715	70,550
Trade and Other Receivables	208,121	98,979
Amounts Due from Related Parties	33,647	20,463
Other Current Assets	88,841	87,436
Short Term Investments	-	198,535
Cash in Hand and at Bank	101,488	79,582
Total Current Assets	548,812	555,545
Total Assets	34,438,223	34,358,542
EQUITY & LIABILITIES
Equity attributable to Equity Holders of the Parent
Stated Capital	3,345,117	3,345,117
Revenue Reserves	3,649,739	4,235,994
Other Components of Equity	21,847,526	21,847,751
Total Equity	28,842,382	29,428,862
Non Current Liabilities
Interest Bearing Borrowings	250,000	19,420
Deferred Tax Liabilities	3,489,290	3,489,290
Employee Benefit Liabilities	225,367	232,324
Total Non Current Liabilities	3,964,657	3,741,034
Current Liabilities
Trade and Other Payables	637,356	415,749
Amounts Due to Related Parties	51,485	56,372
Income Tax Liabilities	8,057	6,507
Interest Bearing Borrowings	432,750	31,286
Other Current Liabilities	130,069	169,020
Bank Overdrafts	371,467	509,712
Total Current Liabilities	1,631,184	1,188,646
Total Liabilities	5,595,841	4,929,680
Total Equity and Liabilities	34,438,223	34,358,542
Net Assets Per Share (Rs.)	65.14	66.46
The above figures are not audited.

I certify that the Financial Statements have been prepared in compliance with the requirements of the Companies Act No. 7 of 2007.

C.L.P. Gunawardane

Chief Financial Officer / Director

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

K.N.J. Balendra	J.G.A. Cooray
Chairman	Director
24th January 2022

Asian Hotels and Properties PLC