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.