LANKA MILK FOODS (CWE) PLC
INTERIM FINANCIAL STATEMENTS
FOR THE THREE MONTHS ENDED 30TH JUNE 2022
LANKA MILK FOODS (CWE) PLC
CORPORATE INFORMATION
THE COMPANY | - | LANKA MILK FOODS (CWE) PLC. |
LEGAL STATUS | - | A PUBLIC QUOTED COMPANY WITH LIMITED LIABILITY |
UNDER THE PROVISION OF COMPANIES ACT NO 7 OF 2007 | ||
REGISTERED OFFICE | - | WELISARA, RAGAMA, SRI LANKA |
- | TEL: +9411 5222600 FAX: +9411 2956266 | |
- | EMAIL: lakspray@lmfgroup.lk | |
- | WEBSITE: www.lmfgroup.lk | |
DATE OF INCORPORATION | - | 12TH NOVEMBER 1981 |
COMPANY REGISTRATION NUMBER | - | PQ 142 |
COMPANY SECRETARY | MS. H.K BULATHWATTE | |
BOARD OF DIRECTORS | - | MR. D.H.S JAYAWARDENA (CHAIRMAN) |
MR. C.R JANSZ (DIRECTOR) | ||
MR. D.S.K AMARASEKERA (INDEPENDENT | ||
NON-EXECUTIVE DIRECTOR) | ||
DR. A. SHAKTHEVALE (INDEPENDENT | ||
NON-EXECUTIVE DIRECTOR) | ||
MR. D.HASITHA .S JAYAWARDENA (NON-EXECUTIVE DIRECTOR) | ||
MS. D.S.T JAYAWARDENA (DIRECTOR) | ||
AUDITORS | - | MESSRS. KPMG (CHARTERED ACCOUNTANTS) |
32 A, SIR MOHAMED MACAN MARKAR MAWATHA | ||
P.O BOX 186 | ||
COLOMBO 3. | ||
SRI LANKA | ||
SUBSIDIARY COMPANIES | - | LANKA DAIRIES (PRIVATE) LIMITED |
AMBEWELA LIVESTOCK COMPANY LIMITED | ||
PATTIPOLA LIVESTOCK COMPANY LIMITED | ||
AMBEWELA PRODUCTS (PRIVATE) LIMITED | ||
INDO LANKA EXPORTS (PRIVATE) LIMITED | ||
UNITED DAIRIES LANKA (PRIVATE) LIMITED | ||
BANKERS | - | HATTON NATIONAL BANK PLC. |
DFCC BANK PLC. | ||
COMMERCIAL BANK OF CEYLON PLC | ||
HONGKONG & SHANGHAI BANKING CORPORATION LTD | ||
BANK OF CEYLON |
LANKA MILK FOODS (CWE) PLC.
CONDENSED FINANCIAL STATEMENTS
FOR THE THREE MONTHS ENDED 30TH JUNE 2022
STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
GROUP
FOR THE THREE MONTHS ENDED
2022.06.30 | 2021.06.30 | Change | |
Rs. 000's | Rs. 000's | Rs. 000's | |
+ / (-) | |||
Revenue | 3,139,626 | 2,315,966 | 823,660 |
Cost of Sales | (2,326,103) | (2,043,677) | (282,426) |
GROSS PROFIT | 813,523 | 272,289 | 541,234 |
Other Operating Income | 691,648 | 534,138 | 157,510 |
Administrative Expenses | (209,773) | (127,944) | (81,829) |
Distribution Expenses | (99,965) | (87,831) | (12,134) |
Other Operating Expenses | (33,449) | (18,349) | (15,100) |
PROFIT/(LOSS) FROM OPERATIONS | 1,161,984 | 572,303 | 589,681 |
Finance Income | 12,821 | 6,025 | 6,796 |
Finance Expense | (246,520) | (18,213) | (228,307) |
Net Finance - Income / (Expense) | - | ||
(233,699) | (12,188) | (221,511) | |
PROFIT /(LOSS) BEFORE INCOME TAX EXPENSES | 928,285 | 560,115 | 368,170 |
Income Tax (Expenses)/Reversal | (45,301) | (6,796) | (38,505) |
PROFIT/(LOSS) FOR THE PERIOD | 882,984 | 553,319 | 329,665 |
Other Comprehensive Income/(Expense) for the Period | |||
Items that will never be reclassified to profit or loss | |||
Net change in Fair Value of Equity Securities-at FVOCI | (835,153) | 291,882 | (1,127,035) |
Other Comprehensive Income/(Expense) for the Period | (835,153) | 291,882 | (1,127,035) |
Total Comprehensive Income/(Expense) For the Period | 47,831 | 845,201 | (797,370) |
Profit /(Loss) Attributable To: | |||
Owners of the Company | 882,984 | 553,319 | 329,665 |
Non Controlling Interest | - | - | - |
PROFIT/(LOSS) FOR THE PERIOD | 882,984 | 553,319 | 329,665 |
Total Comprehensive Income/(Expense) Attributable To : | |||
Owners of the Company | 47,831 | 845,201 | (797,370) |
Non Controlling Interest | - | - | - |
Total Comprehensive Income/(Expense) For the Period | 47,831 | 845,201 | (797,370) |
BASIC EARNINGS /(LOSS) PER SHARE OF Rs. | 22.08 | 13.83 |
LANKA MILK FOODS (CWE) PLC.
CONDENSED FINANCIAL STATEMENTS
FOR THE THREE MONTHS ENDED 30TH JUNE 2022
STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
COMPANY
FOR THE THREE MONTHS ENDED | |||
2022.06.30 | 2021.06.30 | Change | |
Rs. 000's | Rs. 000's | Rs. 000's | |
+ / (-) | |||
Revenue | 1,214,615 | 922,338 | 292,277 |
Cost of Sales | (819,619) | (945,090) | 125,471 |
GROSS PROFIT | |||
394,996 | (22,752) | 417,748 | |
Other Operating Income | 458,491 | 464,722 | (6,231) |
Administrative Expenses | (59,031) | (57,473) | (1,558) |
Distribution Expenses | (28,022) | (28,859) | 837 |
Other Operating Expenses | - | - | - |
PROFIT/(LOSS) FROM OPERATIONS | 766,434 | 355,638 | 410,796 |
Finance Income | 22,235 | 8,365 | 13,870 |
Finance Expense | (99,545) | (2,223) | (97,322) |
Net Finance - Income / (Expense) | (77,310) | 6,142 | (83,452) |
PROFIT /(LOSS) BEFORE INCOME TAX EXPENSES | 689,124 | 361,780 | 327,344 |
Income Tax (Expenses)/Reversal | 798 | 446 | 352 |
PROFIT/(LOSS) FOR THE PERIOD | 689,922 | 362,226 | 327,696 |
Other Comprehensive Income/(Expense) for the Period | |||
Items that will never be reclassified to profit or loss | |||
Net change in Fair Value of Equity Securities-at FVOCI | (835,153) | 291,882 | (1,127,035) |
Other Comprehensive Income/(Expense) for the Period | (835,153) | 291,882 | (1,127,035) |
Total Comprehensive Income/(Expense) For the Period | (145,231) | 654,108 | (799,339) |
Profit /(Loss) Attributable To: | |||
Owners of the Company | 689,922 | 362,226 | 327,696 |
Non Controlling Interest | - | - | - |
PROFIT/(LOSS) FOR THE PERIOD | 689,922 | 362,226 | 327,696 |
Total Comprehensive Income/(Expense) Attributable To: | |||
Owners of the Company | (145,231) | 654,108 | (799,339) |
Non Controlling Interest | - | - | - |
Total Comprehensive Income/(Expense) For the Period | (145,231) | 654,108 | (799,339) |
BASIC EARNINGS /(LOSS) PER SHARE OF Rs. | 17.25 | 9.06 |
STATEMENT OF FINANCIAL POSITION | |||||
GROUP | COMPANY | ||||
As At | 2022.06.30 | 2022.03.31 | 2022.06.31 | 2022.03.31 | |
Rs. 000's | Rs. 000's | Rs. 000's | Rs. 000's | ||
ASSETS | |||||
NON-CURRENT ASSETS | |||||
Property Plant and Equipment | 4,571,277 | 4,494,204 | 121,216 | 125,752 | |
Investment in Subsidiaries | - | - | 1,065,000 | 1,065,000 | |
Investment in Equity Securities | 6,017,601 | 6,852,754 | 6,017,601 | 6,852,754 | |
Biological Assets | 1,437,127 | 1,279,229 | - | - | |
Deferred Tax Asset | 11,548 | 10,750 | 11,548 | 10,750 | |
Right Of Use Assets | 315,925 | 318,887 | 300 | 307 | |
TOTAL NON CURRENT ASSETS | 12,353,478 | 12,955,824 | 7,215,665 | 8,054,563 | |
CURRENT ASSETS | |||||
Inventories | 2,475,494 | 1,486,961 | 433,972 | 398,067 | |
Biological Assets | 45,533 | 40,772 | - | - | |
Investment in Equity Securities | 132,125 | 153,778 | 132,125 | 153,778 | |
Trade Receivable | 749,563 | 796,606 | 143,730 | 194,872 | |
Other Receivables | 117,331 | 60,021 | 53,515 | 25,368 | |
Amounts Due from Related Companies | 16,371 | 24,848 | 1,701,491 | 1,404,537 | |
Current Tax Assets | 9,167 | 9,167 | 9,167 | 9,167 | |
Cash & Cash equivalents | 447,308 | 1,212,879 | 254,396 | 1,002,342 | |
TOTAL CURRENT ASSETS | 3,992,892 | 3,785,032 | 2,728,396 | 3,188,131 | |
TOTAL ASSETS | 16,346,370 | 16,740,856 | 9,944,061 | 11,242,694 | |
EQUITY AND LIABILITIES | |||||
EQUITY | |||||
Stated Capital ( Note 7) | 999,950 | 999,950 | 999,950 | 999,950 | |
Capital Reserves | 105,116 | 105,116 | 105,116 | 105,116 | |
Available for Sale Reserve | 5,446,515 | 6,281,668 | 5,446,515 | 6,281,668 | |
Revenue Reserves | 4,738,956 | 4,055,962 | 2,701,876 | 2,211,944 | |
Total Equity attributable to Equity Holders | 11,290,537 | 11,442,696 | 9,253,457 | 9,598,678 | |
of the company | |||||
Non Controlling Interest | (234) | (234) | - | - | |
Total Equity | 11,290,303 | 11,442,462 | 9,253,457 | 9,598,678 | |
LIABILITIES | |||||
NON-CURRENT LIABILITIES | |||||
Loans and Borrowings | 2,056,517 | 1,753,645 | - | - | |
Lease Liabilities | 331,854 | 319,937 | 343 | 290 | |
Deferred Tax Liability | 85,939 | 87,031 | - | - | |
Retirement Benefits Obligation | 146,905 | 140,473 | 72,930 | 69,507 | |
TOTAL NON CURRENT LIABILITIES | 2,621,215 | 2,301,086 | 73,273 | 69,797 | |
CURRENT LIABILITIES | |||||
Trade and Other Payables | 910,198 | 1,520,318 | 492,042 | 1,182,615 | |
Amounts Due to Related Companies | 22,196 | 171,677 | 19,360 | 168,854 | |
Income Tax Payable | 47,416 | 36,177 | - | - | |
Loans and Borrowings | 475,000 | 375,000 | 100,000 | - | |
Lease Liabilities | 34,336 | 34,378 | 18 | 60 | |
Bank Overdraft | 945,706 | 859,758 | 5,911 | 222,690 | |
TOTAL CURRENT LIABILITIES | 2,434,852 | 2,997,308 | 617,331 | 1,574,219 | |
TOTAL LIABILITIES | 5,056,067 | 5,298,394 | 690,604 | 1,644,016 | |
TOTAL EQUITY AND LIABILITIES | 16,346,370 | 16,740,856 | 9,944,061 | 11,242,694 | |
Net Asset Value Per Share Rs. Cts. | 282.28 | 286.08 | 231.35 | 239.98 | |
I certify that the Financial Statements have been prepared in compliance with the requirements of Companies Act No 07 of 2007.
The Board of Directors is responsible for the preparation and presentation of these | ||
Financial statements .Signed for and on behalf of the Board by, | ||
W.A Dharmathilaka | ||
Group Chief Financial Officer | C.R Jansz | A.Shakthevale |
10th August 2022 | Director | Director |
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Lanka Milk Foods (CWE) plc published this content on 15 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 August 2022 04:22:07 UTC.