MARAWILA RESORTS PLC MARAWILA RESORTS PLC
CLUB PALM BAY
INTERIM RESULTS
FOR THE NINE MONTHS ENDED
31ST DECEMBER 2021
8 - 5/2 , Leyden Bastian Road ,
York Arcade Building ,
Colombo 1
MARAWILA RESORTS PLC
CLUB PALM BAY
STATEMENT OF COMPREHENSIVE INCOME
COMPANY | COMPANY | COMPANY | |||||
For the year | For the Quarter | For the Nine Month | |||||
Ended | Ended 31st December | Ended 31st December | |||||
Audited | Unaudited | Unaudited | |||||
31.03.2021 | 2021 | 2020 | Change | 2021 | 2020 | Change | |
Rs.'000 | Rs.'000 | Rs.'000 | % | Rs.'000 | Rs.'000 | % | |
183,740 | Revenue | 71,332 | 43,902 | 62 | 148,798 | 87,479 | 70 |
(57,271) | Cost of Sales | (31,844) | (11,770) | (171) | (57,278) | (31,381) | (83) |
126,469 | Gross Profit | 39,488 | 32,133 | 23 | 91,521 | 56,098 | 63 |
340 | Other Operating Income | (28) | 1 | (4,158) | (79) | 173 | (145) |
(150,641) | Administrative & Operating Expenses | (39,468) | (30,778) | (28) | (103,447) | (96,408) | (7) |
(2,238) | Promotional & Marketing Expenses | (829) | (1,910) | 57 | (1,208) | (1,745) | 31 |
- | Impairment Loss on Trade Receivables | - | - | (100) | - | (996) | (100) |
(26,071) | Profit from Operating Activities | (836) | (554) | (51) | (13,212) | (42,877) | 69 |
(40,404) | Depreciation | (9,267) | (9,829) | 6 | (28,124) | (29,660) | 5 |
(32,659) | Finance Expenses | (9,065) | (7,600) | (19) | (25,654) | (26,452) | 3 |
(99,134) | Profit before Exchange Los | (19,168) | (17,983) | (7) | (66,990) | (98,990) | (32) |
(12,343) | Exchange Gain/(Loss) From Conversion of Foreign Currency Loan | 96 | (1,445) | 107 | (922) | 3,366 | 127 |
2% | |||||||
(111,477) | Profit /(Loss) before Taxation | (19,073) | (19,428) | (67,912) | (95,625) | 29 | |
(532) | Taxation | - | - | - | - | - | - |
2% | |||||||
(112,008) | Net Profit /(Loss) for the Period | (19,073) | (19,428) | (67,912) | (95,625) | 29 | |
Other Comprehensive Income | |||||||
1,465 | Actuarial Gain /( Loss ) on defined benefit plans | - | - | - | - | - | |
787 | Gain / (Loss) on Available for Sale - Financial Assets | - | - | - | - | - | |
- | Deferred tax on revaluation surplus of Lands | - | - | - | - | - | |
- | Revaluation Surplus of the Land | - | - | - | - | - | |
(284) | Deferred Tax on Actuarial Gains | - | - | - | - | - | |
1,968 | Total Other Comprehensive Income for the Period | - | - | - | |||
(110,041) | Total Comprehensive Income for the Period | (19,073) | (19,428) | 2 | (67,912) | (95,625) | 29 |
(0.49) | Loss Per Share | (0.08) | (0.09) | (0.30) | (0.42) | ||
MARAWILA RESORTS PLC
CLUB PALM BAY
STATEMENT OF FINANCIAL POSITION
31.03.2021 | As at 31 December | 2021 | 2020 |
Rs.'000 | Rs.'000 | Rs.'000 | |
Audited | Unaudited | Unaudited | |
ASSETS | |||
NON CURRENT ASSETS | |||
1,717,792 | Property Plant & Equipment | 1,693,005 | 1,725,854 |
1,051 | Intangible Assets | 657 | 2,055 |
5,458 | Available for Sale Financial Assets | 5,458 | 4,672 |
1,724,301 | 1,699,120 | 1,732,580 | |
CURRENT ASSETS | |||
8,427 | Inventories | 9,514 | 9,890 |
3,409 | Trade and Other Receivables | - | 14,884 |
- | Amount due from Related Parties | 13,506 | - |
28,127 | Cash and Cash Equivalents | 15,149 | 23,962 |
39,963 | 38,170 | 48,736 | |
1,764,264 | Total Assets | 1,737,290 | 1,781,317 |
EQUITY & LIABILITIES | |||
EQUITY | |||
1,317,500 | Stated Capital | 1,317,500 | 1,317,500 |
257,787 | Revaluation Reserve | 257,787 | 257,787 |
(15,930) | FVTOCI Reserve / AFS Reserve | (15,930) | (16,717) |
(551,928) | Accumulated Losses | (619,840) | (536,726) |
1,007,428 | Total Equity | 939,517 | 1,021,844 |
NON CURRENT LIABILITIES | |||
281,549 | Interest Bearing Borrowings | 303,923 | 274,603 |
12,360 | Retirement Benefit Obligations | 13,139 | 11,885 |
194,229 | Deferred Taxation | 194,229 | 193,413 |
488,138 | 511,291 | 479,901 | |
CURRENT LIABILITIES | |||
11,362 | Trade Creditors | 28,203 | 32,029 |
65,969 | Other Payables | 96,692 | 87,662 |
79,625 | Amounts Owed to Related Companies | 85,572 | 78,151 |
99,941 | Interest Bearing Borrowings | 73,238 | 73,238 |
11,802 | Cash and Cash Equivalents | 2,777 | 8,492 |
268,699 | 286,482 | 279,572 | |
1,764,264 | Total Equity & Liabilities | 1,737,290 | 1,781,317 |
4.42 | Net Assets per Share | 4.12 | 4.48 |
For and on behalf of the Board , | |||
Sgd. | Sgd. | ||
Director | Director | ||
Anushman Rajaratnam | Sanjeev Rajaratnam |
Colombo
20th January 2022
MARAWILA RESORTS PLC
CLUB PALM BAY
STATEMENT OF CHANGES IN EQUITY
FOR THE NINE MONTHS ENDED 31ST DECEMBER | Stated Capital | Accumulated | FVTOCI Reserve / | Revaluation | |
Losses | AFS Reserve | Reserve | Total | ||
Rs. '000 | Rs. '000 | Rs. '000 | Rs. '000 | Rs. '000 | |
Balance as at 01.04.2020 | 1,317,500 | (441,101) | (16,717) | 257,787 | 1,117,469 |
Loss for the period | (95,625) | - | - | (95,625) | |
Balance as at 31.12.2020 | 1,317,500 | (536,726) | (16,717) | 257,787 | 1,021,844 |
Balance as at 01.04.2021 | 1,317,500 | (551,928) | (15,930) | 257,787 | 1,007,429 |
Loss for the period | - | (67,912) | - | - | (67,912) |
Balance as at 31.12.2021 | 1,317,500 | (619,840) | (15,930) | 257,787 | 939,517 |
MARAWILA RESORTS PLC
CLUB PALM BAY
STATEMENT OF CASH FLOWS
31.03.2021 | FOR THE PERIOD ENDED 31ST DECEMBER | 2021 | 2020 |
Audited | Unaudited | Unaudited | |
Rs.'000 | Rs.'000 | Rs.'000 | |
Cash Flows From Operating Activities | |||
(111,477) | Net Profit/(Loss) Before Taxation | (67,912) | (95,625) |
Adjustment for: | |||
40,084 | Depreciation on property, plant & equipment | 28,124 | 29,660 |
321 | Amortization on Intangible Assets | - | - |
Loss of Disposal of Computer | 90 | - | |
32,658 | Finance Expenses | 25,654 | 26,452 |
(177) | Interest Income Received | - | - |
87 | Provision for Obsolete Inventories | - | - |
1,110 | Provision for Impairment Loss on Trade Receivables | - | - |
11,699 | Exchange (Gain)/Loss From Conversion of Foreign Currency Loan | 922 | (3,366) |
4,234 | Provision for Gratuity | 1,680 | 2,293 |
90,016 | 56,470 | 55,040 | |
(21,461) | Operating Profit Before Working Capital Changess | (11,442) | (40,585) |
3,284 | (Increase)/Decrease in Inventories | (1,087) | 1,909 |
46,934 | (Increase)/Decrease in Debtors & Receivables | 3,409 | 36,568 |
1,602 | (Increase)/Decrease in Related Party Balances | (7,559) | 6,834 |
(37,041) | Increase /(Decrease) in Trade Creditors | 16,841 | (2,633) |
10,008 | Increase /(Decrease) in Other Payables | 30,723 | 17,962 |
3,326 | Net Cash Flow Generated from /(Used in ) Operations | 30,884 | 20,055 |
(1,359) | Interest Paid | (25,654) | (26,452) |
(2,016) | Gratuity Paid | (902) | (2,016) |
(49) | Net Cash Flows Generated from Operating Activities | 4,329 | (8,415) |
Cash Flow from Investing Activities | |||
(2,315) | Acquisition of Property Plant & Equipment | (3,033) | (636) |
- | Acquisition of Inatangible Assets | - | - |
177 | Interest Income Received | - | - |
- | Interest Income on CMSL Loan | - | - |
(2,138) | Net Cash Flow Used in Investing Activities | (3,033) | (636) |
Cash Flow from Financing Activities | |||
25,000 | Loan Procceds | - | 27,363 |
(3,646) | Repayment of Loans | (5,250) | - |
21,354 | Net Cash Flow Used in Financing Activities | (5,250) | 27,363 |
19,166 | Net Change in Cash & Cash Equivalents during the period | (3,954) | 18,312 |
(2,842) | Cash & Cash Equivalents at the beginning of the period | 16,325 | (2,842) |
16,325 | Cash & Cash Equivalents at the end of the period | 12,372 | 15,470 |
Analysis of Cash & Cash Equivalents at the end of the period | |||
28,127 | Cash at Bank & in Hand | 15,149 | 23,962 |
(11,802) | Bank Overdraft | (2,777) | (8,492) |
16,325 | 12,372 | 15,470 | |
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Marawila Resorts plc published this content on 07 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 February 2022 09:37:04 UTC.
