Colombo Fort Investments PLC

Company No PQ 100

Interim Financial Statements for the Quarter Ended

31st December, 2021

01

COLOMBO FORT INVESTMENTS PLC

Company No PQ 100

STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

Audited

Unaudited

Unaudited

Unaudited

Unaudited

Year

Quarter

Quarter

Nine months

Nine months

ended

ended

ended

Variance

ended

ended

Variance

31.03.2021

31.12.2021

31.12.2020

%

31.12.2021

31.12.2020

%

Rs.'000

Rs.'000

Rs.'000

Rs.'000

Rs.'000

17,222

Revenue

18,416

4,037

+356

25,245

8,565

+195

6

Other Income

759

2

+37,850

759

5

+15,080

17,228

19,175

4,039

+375

26,004

8,570

+203

(4,052)

Administrative Expenses

(737)

(686)

-7

(2,770)

(3,308)

+16

102,040

Fair Value changes on Financial Assets

56,026

12,970

+332

113,617

64,586

+76

(187) Other Expenses

(30)

-

-

(36)

(174)

+79

115,029

Profit / (Loss) from Operating Activities

74,434

16,323

+356

136,815

69,674

+96

(2,353)

Finance Costs

(333)

(560)

+41

(1,311)

(1,826)

+28

112,676

Profit / (Loss) Before Income Tax Expense

74,101

15,763

+370

135,504

67,848

+100

(1,371)

Income Tax Expense

(2,207)

(179)

-1,133

(2,583)

(424)

-509

111,305

Profit / (Loss) for the period

71,894

15,584

+361

132,921

67,424

+97

Other Comprehensive Income

Items that will not to be reclassified to Profit or Loss

- Profit / (Loss) on changes in Fair Value on Financial Assets

603,189

at Fair Value through Other Comprehensive Income

434,733

342,953

+27

326,472

611,470

-47

  • Reserve movement due to conversion of Warrants
  • Transfer of realised gains on disposal of Financial Assets

620

at Fair Value through Other Comprehensive Income

(11)

620

-102

(11)

620

-102

- Profit / (Loss) on diposal of Financial Assets at Fair Value

161

through Other Comprehensive Income

(4)

335

-101

(4)

160

-103

Total Other Comprehensive Income /

603,970

(Expense) for the period

434,718

343,908

+26

326,457

612,250

-47

Total Comprehensive Income /

715,275

(Expense) for the period

506,612

359,492

+41

459,378

679,674

-32

15.86

Earnings / (Loss) per share (Rs.)

10.24

2.22

18.93

9.60

1.20

Dividend proposed per share

-

-

-

-

02

COLOMBO FORT INVESTMENTS PLC

Company No PQ 100

STATEMENT OF FINANCIAL POSITION

Audited

Unaudited

Unaudited

As at

As at

As at

31.03.2021

31.12.2021

31.12.2020

Rs.'000

Rs.'000

Rs.'000

ASSETS

Non-current Assets

Financial Assets at Fair Value through Other

1,090,052

Comprehensive Income

1,421,044

1,098,285

1,090,052

Total Non Current Assets

1,421,044

1,098,285

Current Assets

249,315

Financial Assets at Fair Value through Profit or Loss

368,330

210,635

5,380

Receivables

97

3,149

81

Prepayments

-

-

1,771

Amounts Due From Related Party

1,771

1,770

2,676

Cash & Cash Equivalents

7,338

763

259,223

Total Current Assets

377,536

216,317

1,349,275

Total Assets

1,798,580

1,314,602

EQUITY & LIABILITIES

Equity

213,840

Stated Capital

222,132

213,840

16,500

General Reserve

16,500

16,500

806,018

Fair Value Reserve of Financial Assets at FVOCI

1,132,479

814,299

292,068

Retainted Earnings

416,704

248,158

1,328,426

Total Equity

1,787,815

1,292,797

Non - Current Liabilities

-

Interest Bearing Borrowing

-

-

-

Total Non- Current Liabilities

-

-

Current Liabilities

19,640

Trade & Other Payables

8,782

21,431

-

Interest Bearing Borrowing

-

-

88

Dividends Payable

88

116

1,121

Income Tax Liability

1,895

258

20,849

Total Current Liabilities

10,765

21,805

20,849

Total Liabilities

10,765

21,805

1,349,275

Total Equity & Liabilities

1,798,580

1,314,602

189.23

Net Asset per Share (Rs.)

254.67

184.16

For and on behalf of the Board

(Sgd.) S.D.R.Arudpragasam

(Sgd.) Sanjeev Rajaratnam

Director

Director

01st February, 2022

03

COLOMBO FORT INVESTMENTS PLC

Company No. PQ 100

STATEMENT OF CHANGES IN EQUITY

Stated

General

Fair Value

Retained

Total

Capital

Reserve

Reserve of

Earnings

Equity

Financial Assets

at FVOCI

Rs.'000

Rs.'000

Rs.'000

Rs.'000

Rs.'000

Balance as at 01.04.2020

213,840

16,500

202,209

181,194

613,743

Profit / (Loss) for the period

-

-

-

67,424

67,424

Other Comprehensive Income / (Expense)

-

-

612,090

-

612,090

Profit / (Loss) on disposal of FVOCI

-

-

-

160

160

Transfer of realised gains on disposal of

Financial Assets at FVOCI

-

-

-

(620)

(620)

213,840

16,500

814,299

248,158

1,292,797

Transactions with owners of the Company

recognised directly in equity

-

-

-

-

-

Balance as at 31.12.2020

213,840

16,500

814,299

248,158

1,292,797

Balance as at 01.04.2021

213,840

16,500

806,018

292,068

1,328,426

Profit / (Loss) for the period

-

-

-

132,921

132,921

Other Comprehensive Income / (Expense)

-

-

326,461

-

326,461

Profit / (Loss) on disposal of FVOCI

-

-

-

(4)

(4)

Transfer of realised gains on disposal of

Financial Assets at FVOCI

-

-

-

11

11

213,840

16,500

1,132,479

424,996

1,787,815

Transactions with owners of the Company

recognised directly in equity

-

-

-

-

-

Scrip dividend - First & Final for the

year ended 31.03.2021

8,292

-

-

(8,292)

-

Balance as at 31.12.2021

222,132

16,500

1,132,479

416,704

1,787,815

04

COLOMBO FORT INVESTMENTS PLC

Company No : PQ 100

STATEMENT OF CASH FLOWS

Audited

Unaudited

Unaudited

Year

Nine months

Nine months

ended

ended

ended

31.03.2021

31.12.2021

31.12.2020

Rs.'000

Rs.'000

Rs.'000

CASH FLOW FROM OPERATING ACTIVITIES

115,029

Profit / (Loss) before Interest and Tax

136,815

69,674

Adjustments for ;

(102,040)

Fair Value changes on Financial Assets

(113,617)

(64,586)

174

Profit / (Loss) on Disposal of Financial Assests

(759)

174

(1,656)

Dividend received as Scrip Dividend

(3,822)

(1,605)

(6)

Provision for Impairment of Amounts due from Related Party

-

(5)

11,501

Profit before Working Capital Changes

18,617

3,652

Changes in Working Capital

(4,607)

(Increase) / Decrease in

Receivables

5,282

(2,376)

-

(Increase) / Decrease in

Prepayments

81

81

1,100

(Increase) / Decrease in Amounts Due from Related Party

-

1,100

(3,882)

Increase / (Decrease) in Trade & Other Payables

(10,857)

(2,091)

4,112

Cash generated from / (Used in) Operating Activities

13,123

366

(711)

Tax paid

(1,810)

(627)

(2,353)

Interest Paid

(1,311)

(1,826)

1,048

Net Cash Flows from / (used in) Operating Activities

10,002

(2,087)

CASH FLOWS FROM INVESTING ACTIVITIES

(1,227)

Acquisition of Financial Assets

(12,696)

-

2,905

Proceeds from Disposal of Financial Assets

7,356

2,900

-

Interest Received

-

-

1,678

Net Cash Flows from / (used in) Investing Activities

(5,340)

2,900

CASH FLOWS FROM FINANCING ACTIVITIES

(1,886)

Repayment of Interest Bearing Borrowing

-

(1,886)

(1,886)

Net cash Flows from / (used in) Financing Activities

-

(1,886)

840

Net Increase/[Decrease] in Cash & Cash Equivalents

4,662

(1,073)

1,836

Cash & Cash Equivalents at the beginning of the year

2,676

1,836

2,676

Cash & Cash Equivalents at the end of year [Note A]

7,338

763

2,676

Note A: Cash & Cash Equivalents

2,676

Cash at bank

7,338

763

7,338

763

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Colombo Fort Investments plc published this content on 01 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 February 2022 11:31:18 UTC.