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    CTHR.N0000   LK0041N00000

C T HOLDINGS PLC

(CTHR.N0000)
  Report
End-of-day quote Colombo Stock Exchange  -  2022-09-21
177.50 LKR   -0.84%
08/10C T Holdings PLC Reports Earnings Results for the First Quarter Ended June 30, 2022
CI
08/10C T : Interim Financial Statements for Q1 2022/2023
PU
07/07C T : Annual report 2021/2022
PU
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C T : ANNUAL REPORT 2021/2022

07/07/2022 | 12:24am EDT

Creating Value since 1928

C T HOLDINGS PLC

Annual Report 2021 2022

CONTENTS

Overview

Our Business at a Glance

01

Milestones

02

Profile of Businesses

04

Financial Highlights

06

Operational Spotlight

07

Stewardship

Chairman's Message

08

Management Discussion and Analysis

10

Profile of Directors

14

Corporate Governance

17

Risk Assessment

20

Report of the Remuneration Committee

22

Report of the Nominations Committee

23

Financial Reports

Report of the Related Party Transactions Review Committee

24

Annual Report of the Board of Directors of the Company

28

Report of the Audit Committee

31

Statement of Directors' Responsibility

33

Independent Auditors' Report

34

Statement of Profit or Loss and Other Comprehensive Income

40

Statement of Financial Position

41

Statement of Changes in Equity

42

Statement of Cash Flows

44

Supplementary

Notes to the Financial Statements

46

Five Year Review - Group

134

Group Directory

135

Information of Shareholders

139

Notice of Annual General Meeting

143

Form of Proxy

147

Corporate Information

Inner Back Cover

OUR BUSINESS AT A GLANCE

C T Holdings PLC then known as Ceylon Theatres Limited was incorporated in 1928 with its primary focus on the entertainment industry. The Company owned and operated a string of cinemas in various parts of the country including such well known destinations such as Regal Colombo, Empire and Majestic cinemas.

The Company also set up the first film production and processing facilities in the country with the establishment of Ceylon Studios Ltd in 1956, thus paving the way for the development of the local film production expertise.

Despite the Company's first production "Asokamala" being unsuccessful, the Company persevered to subsequently produce hit films such as "Golu Hadawatha", "Akkara Paha", "Sakman Maluwa" etc. The hit film "Nidhanaya" was adjudged the best Sri Lankan film produced in the past 50 years.

Anticipating the effects of the changes within the film industry in the 1970s and 80s, the Company began to diversify into other areas of business, notably, consolidating its interest in Millers Limited and through it, Cargills (Ceylon) Ltd. (now Cargills (Ceylon) PLC). Millers Ltd was subsequently merged with C T Holdings PLC.

The Company also diversified into Financial Services and Real Estate. The subsidiary Cargills shed the Department Store concept to introduce and expand the Supermarket concept to Sri Lanka. This change was to be the most significant change to the Group and the backbone of future growth. Cargills also expanded into Food Processing, Restaurants, Dairy, Agri Business and Confectionery. A fully fledged Commercial Bank under the name 'Cargills Bank' was also set up by the Group. All this while also staying true to its roots in cinema business by developing cinemas with digital sounds, 3D viewing and upgrading facilities for patrons.

C T Holdings is now a diversified Group with an interest in Retail and Wholesale Distribution, FMCG, Restaurants, Real Estate, Entertainment, and Banking & Financial Services.

01

C T HOLDINGS PLC

Annual Report 2021

2022

MILESTONES

1928

Ceylon Theatres Limited established,

focusing primarily on the entertainment industry by Sir Chittampalam A. Gardiner.

1981

Acquired Millers

and Cargills and

ventured into retail

and distribution

under the

leadership of

1991

Mr. Albert A Page.

Completed the

Majestic City

shopping and

entertainment mall

through CT Land

Development PLC.

1992

2006

Entered the

Cargills

financial services

commissioned

sector through

its new state-

C T Smith

of-the art meat

Stockbrokers

processing facility.

(Member, Colombo

Stock Exchange) -

now re named as

1996

C T CLSA

Securities (Private)

KFC franchise

Limited.

awarded to

Cargills diversified

Cargills.

into food

processing with the

1999

acquisition of the

Goldi processed

Entered the

meat plant - now

Ceramic / Tiles,

known as Cargills

Plantation and

Quality Foods Ltd.

Packaging sectors.

2008

2009

Ceylon Theatres

C T Properties

merged with its

Limited completed

subsidiary Millers

its flagship

PLC to create an

'Empire' residential

investment holding

development

2010

Company.

project.

Cinema exhibition

Name of Ceylon

Theatres PLC

operation

changed to C T

transferred to a

2011

Holdings PLC

wholly owned

subsidiary, Ceylon

Cargills acquired

Theatres (Private)

Limited.

controlling

interest in

Kotmale Holdings

PLC. Cargills

also acquired

Diana Biscuits

Manufacturers

(Private) Limited

(subsequently

2002

re-named

Cargills acquired

Cargills Quality

Confectioneries

2012

the Walls Ice

(Pvt) Ltd).

Cream plant and

Cargills entered

CPC/Best foods

the brewery sector.

production facility

Ceylon Theatres

of jams, cordials

added three new

and sauces.

screens to the

Majestic Cineplex

including Sri

Lanka's first ever

3D cinema.

C T HOLDINGS PLC

02

Annual Report 2021 2022

2021

2015

2016

Cargills launched

Retail sector

Cargills Bank

Cargills Online

web portal for

comprising the

began expansion

online ordering and

supermarkets spun

of its network

2017

delivery

off into a separate

by opening 11

Cargills

Opened Cargills

Company with

branches.

Square Mall,

new direct equity

commissioned

Dematagoda

injection into the

the expanded

Company. Two new

dairy facility.

cinema screens

Cargills Square

set up by Ceylon

mall Gampaha

Theatres at Arcade

opened with a

Independence

2018

supermarket, KFC

Square, the

and two cinema

Group's Regal

Regal Cinema in

screens.

cinema was

Nuwara Eliya fully

refurbished.

2014

2020

refurbished and

Cargills exited the

Group received

re-opened.

brewery sector.

Cargills

license to set up

commenced its

and operate a

175th year of

Commercial Bank.

2019

operations

Cargills Square Mall

Cargills opened the

opened in Jaffna.

C T Holdings

400th Cargills Food

Exited the Ceramic

completed 90

City supermarket

/ Tiles, Plantation

years of operations

in Wattala in early

and Packaging

2020

sectors.

Cargills opened

Cargills Food Hall,

Launched the

2013

bringing Sri Lanka's

Kotmale Cheese

processing plant in

first gourmet

Cargills set up

supermarket

Hatton

the TGI Fridays

experience at the

Franchise

Colombo City

Restaurant in

Centre Shopping

Colombo, Fort.

Mall

03

C T HOLDINGS PLC

Annual Report 2021 2022

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

C T Holdings plc published this content on 07 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 July 2022 04:23:01 UTC.


© Publicnow 2022
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Financials
Sales 2022 137 B 377 M 377 M
Net income 2022 2 838 M 7,81 M 7,81 M
Net Debt 2022 36 291 M 99,9 M 99,9 M
P/E ratio 2022 10,8x
Yield 2022 3,00%
Capitalization 35 750 M 98,4 M 98,4 M
EV / Sales 2021 0,60x
EV / Sales 2022 0,49x
Nbr of Employees 8 800
Free-Float 15,2%
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Income Statement Evolution
Managers and Directors
Valentine Ranjit Kumar Page Executive Deputy Chairman & Managing Director
Louis Rajkumar Page Non-Executive Chairman
Jebba B. L. de Silva Independent Non-Executive Director
Antoine Theodore Priyalal Edirisinghe Independent Non-Executive Director
Sunil Mendis Independent Non-Executive Director
Sector and Competitors