Convenience Foods Lanka : SOY-Interim Financial Statements as at 31-12-2021

CONVENIENCE FOODS

(LANKA) PLC

INTERIM REPORT

FOR THE 3RD QUARTER ENDED,

31ST DECEMBER 2021

Interim Report | Convenience Foods (Lanka) PLC

CORPORATE INFORMATION

NAME OF THE COMPANY	SECRETARIES & REGISTRARS
Convenience Foods (Lanka) PLC - PQ 164	P W Corporate Secretarial (Pvt) Ltd.
	No.3/17, Kynsey Road,
	Colombo 08.
LEGAL FORM & LISTING
A Public Limited Company listed on the
Colombo Stock Exchange.	BANKERS
	Bank of Ceylon
	Commercial Bank of Ceylon PLC
DATE OF INCORPORATION	DFCC Bank PLC
27th March 1991	Hatton National Bank PLC
	National Development Bank of Sri Lanka
	Peoples Bank
REGISTERED OFFICE	Standard Chartered Bank
Ceylon Biscuits Ltd,	State Bank of India
No. 555, High Level Road,
Makumbura, Pannipitiya,
Sri Lanka.

BUSINESS ACTIVITY

Manufacture and Marketing of Textured Vegetable

Protein (TVP), Culinary and other Food Products.

DIRECTORS OF THE COMPANY

Mr. R.S. Wickramasingha - Chairman

Mr. E.T. De Zoysa - Managing Director

Ms. D.S. Wickramasingha - Director

Ms. N.K. Wickramasingha - Director

Mr. L.J.M. De Silva - Director

Mr. M.U.S.G. Thilakawardana - Director

Dr. D.M.A. Kulasooriya - Director

Mr. M.S. Nanayakkara - Director

AUDITORS

KPMG Sri Lanka

Chartered Accountants,

32A, Sir Mohomad Macan Markar Mawatha,

Colombo 3, Sri Lanka.

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Interim Report | Convenience Foods (Lanka) PLC

CONVENIENCE FOODS (LANKA) PLC

STATEMENT OF COMPREHENSIVE INCOME

FOR THE PERIOD ENDED 31ST DECEMBER 2021

	Group			Company
For the 09 Months Ended 31st December	2021	2020	Variance	2021	2020	Variance
	Rs.	Rs.	Rs.	Rs.	Rs.	Rs.
Revenue	3,360,924,220	2,343,891,346	1,017,032,874	3,360,924,220	2,343,891,346	1,017,032,874
Cost of Sales	(2,525,714,247)	(1,492,388,736)	(1,033,325,511)	(2,525,714,247)	(1,492,388,736)	(1,033,325,511)
			-
Gross Profit	835,209,973	851,502,610	(16,292,637)	835,209,973	851,502,610	(16,292,637)
Other Operating Income	16,548,033	16,660,314	(112,281)	16,548,033	16,660,314	(112,281)
Distribution Expenses	(386,977,991)	(303,343,203)	(83,634,788)	(386,977,991)	(303,343,203)	(83,634,788)
Administrative Expenses	(139,527,935)	(134,967,068)	(4,560,867)	(139,527,935)	(134,967,068)	(4,560,867)
Results from Operating Activities	325,252,080	429,852,653	(104,600,573)	325,252,080	429,852,653	(104,600,573)
Finance Income	31,733,600	47,705,712	(15,972,112)	31,733,600	47,705,712	(15,972,112)
Finance Expenses	(4,978,536)	(1,836,099)	(3,142,437)	(4,978,536)	(1,836,099)	(3,142,437)
Net Finance Income	26,755,064	45,869,613	(19,114,549)	26,755,064	45,869,613	(19,114,549)
Profit Before Tax	352,007,144	475,722,267	(123,715,122)	352,007,144	475,722,267	(123,715,122)
Income Tax Expenses	(67,812,772)	(83,329,794)	15,517,023	(67,812,772)	(83,329,794)	15,517,023
Profit for the Period	284,194,373	392,392,472	(108,198,100)	284,194,373	392,392,472	(108,198,100)

Other Comprehensive Income

Items that will not be reclassified to profit or loss:			-			-
Re-measurement component of defined benefit
plan	-	-	-	-	-	-
Other Comprehensive Income for the Period	-	-	-	-	-	-
			-			-
Total Comprehensive Income for the Period	284,194,373	392,392,472	(108,198,100)	284,194,373	392,392,472	(108,198,100)
Profit for the Period Attributable to:
Owners of the Company	284,194,373	392,392,472	(108,198,100)	284,194,373	392,392,472	(108,198,100)
Non-Controlling Interest	-	-	-	-	-	-
Total Profit for the Period	284,194,373	392,392,472	(108,198,100)	284,194,373	392,392,472	(108,198,100)
Total Comprehensive Income for the Period
Attributable to:
Owners of the Company	284,194,373	392,392,472	(108,198,100)	284,194,373	392,392,472	(108,198,100)
Non-Controlling Interest	-	-	-	-	-	-
Total Comprehensive Income for the Period	284,194,373	392,392,472	(108,198,100)	284,194,373	392,392,472	(108,198,100)
Basic and Diluted Earnings Per Share	103.34	142.69		103.34	142.69

Figures in brackets indicate deductions.

The above figures are not audited.

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Interim Report | Convenience Foods (Lanka) PLC

CONVENIENCE FOODS (LANKA) PLC

STATEMENT OF COMPREHENSIVE INCOME

FOR THE PERIOD ENDED 31ST DECEMBER 2021

	Group			Company
For the 03 Months Ended 31st December	2021	2020	Variance	2021	2020	Variance
	Rs.	Rs.	Rs.	Rs.	Rs.	Rs.
Revenue	1,324,223,773	916,436,774	407,786,999	1,324,223,773	916,436,774	407,786,999
Cost of Sales	(1,021,114,568)	(578,767,983)	(442,346,584)	(1,021,114,568)	(578,767,983)	(442,346,584)
Gross Profit	303,109,205	337,668,790	(34,559,585)	303,109,205	337,668,790	(34,559,585)
Other Operating Income	5,456,836	3,320,895	2,135,941	5,456,836	3,320,895	2,135,941
			-			-
Distribution Expenses	(142,948,183)	(119,818,371)	(23,129,812)	(142,948,183)	(119,818,371)	(23,129,812)
Administrative Expenses	(55,332,577)	(45,531,471)	(9,801,106)	(55,332,577)	(45,531,471)	(9,801,106)
Results from Operating Activities	110,285,282	175,639,843	(65,354,561)	110,285,282	175,639,843	(65,354,561)
Finance Income	9,334,493	14,437,650	(5,103,157)	9,334,493	14,437,650	(5,103,157)
Finance Expenses	(1,968,458)	(839,604)	(1,128,854)	(1,968,458)	(839,604)	(1,128,854)
Net Finance Income	7,366,036	13,598,047	(6,232,011)	7,366,036	13,598,047	(6,232,011)
Profit Before Tax	117,651,317	189,237,889	(71,586,572)	117,651,317	189,237,889	(71,586,572)
Income Tax Expenses	(23,765,574)	(33,831,094)	10,065,520	(23,765,574)	(33,831,094)	10,065,520
Profit for the Period	93,885,743	155,406,795	(61,521,051)	93,885,743	155,406,795	(61,521,051)

Other Comprehensive Income

Items that will not be reclassified to profit or loss:
Re-measurement component of defined benefit
plan	-	-	-	-	-	-
Other Comprehensive Income for the Period	-	-	-	-	-	-
Total Comprehensive Income for the Period	93,885,743	155,406,795	(61,521,051)	93,885,743	155,406,795	(61,521,051)
Profit for the Period Attributable to:
Owners of the Company	93,885,743	155,406,795	(61,521,051)	93,885,743	155,406,795	(61,521,051)
Non-Controlling Interest	-	-	-	-	-	-
Total Profit for the Period	93,885,743	155,406,795	(61,521,051)	93,885,743	155,406,795	(61,521,051)
Total Comprehensive Income for the Period
Attributable to:			-			-
Owners of the Company	93,885,743	155,406,795	(61,521,051)	93,885,743	155,406,795	(61,521,051)
Non-Controlling Interest	-	-	-	-	-	-
Total Comprehensive Income for the Period	93,885,743	155,406,795	(61,521,051)	93,885,743	155,406,795	(61,521,051)
Basic and Diluted Earnings Per Share	34.14	56.51		34.14	56.51

Figures in brackets indicate deductions.

The above figures are not audited.

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