MULLER & PHIPPS (CEYLON) PLC INTERIM RESULTS
FOR THE YEAR ENDED
31ST MARCH 2022
MULLER & PHIPPS ( CEYLON) PLC 98,SRI SANGARAJA MAWATHA COLOMBO-10
COMPANY NO .PQ177
MULLER & PHIPPS (CEYLON) PLC
STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME - GROUP
For the Period Ended 31st March | Quarter Ended | Year Ended | ||||
2022 | 2021 | Variance | 2022 | 2021 | Variance | |
Rs,000 | Rs,000 | Rs,000 | Rs,000 | |||
Revenue | 179,534 | 193,155 | -7% | 1,064,608 | 750,876 | 42% |
Cost of Sales | (136,576) | (143,517) | 5% | (835,046) | (562,473) | -48% |
Gross Profit | ||||||
42,958 | 49,638 | -13% | 229,562 | 188,403 | 22% | |
Other Operating Income | (937) | 6,487 | -114% | 9,614 | 11,981 | -20% |
Administrative Expenses | (27,501) | (26,095) | -5% | (106,851) | (124,138) | 14% |
Distribution Expenses | (3,313) | (12,078) | 73% | (15,133) | (7,640) | -98% |
Profit/(Loss) from Operations | ||||||
11,207 | 17,952 | -38% | 117,191 | 68,606 | 71% | |
Finance Income | 2,577 | 11,524 | -78% | 6,573 | 13,554 | -52% |
Finance Expenses | (163,963) | (11,170) | -1368% | (171,301) | (41,814) | -310% |
Net Financing Income/ (Expenses) | ||||||
(161,386) | 354 | -45689% | (164,729) | (28,260) | -483% | |
Profit/(Loss) Before Income Tax Expense | -920% | -218% | ||||
(150,179) | 18,306 | (47,537) | 40,346 | |||
Income Tax (Expense)/ Reversal | - | (2,713) | 100% | - | 26,481 | 100% |
Profit/(Loss) for the Period | ||||||
(150,179) | 15,593 | -1063% | (47,537) | 66,827 | -171% | |
Other Comprehensive Income | ||||||
Net Change in Fair Value of Available for Sale - Financial Assets | (2,412) | (6,100) | 60% | (5,479) | (5,936) | 8% |
Total Comprehensive Income for the Period | ||||||
(152,592) | 9,493 | -1707% | (53,016) | 60,891 | -187% | |
Earnings per share (Rs.) | (0.53) | 0.06 | (0.17) | 0.24 |
Figures in brackets indicate deductions.
Above figures are provisional and subject to audit.
MULLER & PHIPPS (CEYLON) PLC
STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME - COMPANY
For the Period Ended 31st March | Quarter Ended | Year Ended | ||||
2022 | 2021 | Variance | 2022 | 2021 | Variance | |
Rs,'000 | Rs,'000 | Rs,'000 | Rs,'000 | |||
Revenue | 500 | 500 | 0% | 2,000 | 2,000 | 0% |
Cost of Sales | - | - | - | - | ||
Gross Profit | ||||||
500 | 500 | 0% | 2,000 | 2,000 | 0% | |
Other Operating Income | (938) | - | -100% | 701 | 64 | 988% |
Administrative Expenses | (975) | (1,300) | 25% | (4,319) | (4,766) | 9% |
Profit/(Loss) from Operations | ||||||
(1,412) | (800) | -77% | (1,618) | (2,702) | 40% | |
Net Financing Income / (Expenses) | 2,785 | 10,918 | -74% | 10,446 | 16,412 | -36% |
Profit Before Income Tax Expense | ||||||
1,373 | 10,118 | -86% | 8,828 | 13,710 | -36% | |
Income Tax Expense | - | - | 0% | - | (994) | 100% |
Profit for the Period | ||||||
1,373 | 10,118 | -86% | 8,828 | 12,716 | -31% | |
Other Comprehensive Income | ||||||
Net Change in Fair Value of Available for Sale - Financial Assets | (2,406) | (6,091) | 60% | (5,482) | (3,751) | -46% |
Total Comprehensive Income for the Period | ||||||
(1,032) | 4,027 | -126% | 3,345 | 8,965 | -63% | |
Earnings per share (Rs.) | 0.00 | 0.04 | 0.03 | 0.04 |
Figures in brackets indicate deductions.
Above figures are provisional and subject to audit.
MULLER & PHIPPS (CEYLON) PLC | |||||
STATEMENT OF FINANCIAL POSITION | |||||
Group | Company | ||||
Unaudited | Audited | Unaudited | Audited | ||
As at | 31-03-2022 | 31-03-2021 | 31-03-202231-03-2021 | ||
Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 | ||
ASSETS | |||||
Non-Current Assets | |||||
Property, Plant & Equipment | 6,388 | 3,680 | - | - | |
Intangible Assets | 564 | 895 | - | - | |
Right of use the Asset | 1,662 | 3,325 | - | - | |
Investments in Subsidiaries | - | - | 53,897 | 53,897 | |
Financial Assets Available for Sale | |||||
-Investment in Shares | 21,187 | 27,368 | 7,247 | 13,432 | |
-Investment in Debentures | 20,491 | 19,789 | 20,491 | 19,789 | |
Deferred Tax Assets | 32,194 | 32,194 | 465 | 464 | |
Total Non Current Assets | 82,485 | 87,251 | 82,101 | 87,582 | |
Current Assets | |||||
Inventories | 136,452 | 91,326 | - | - | |
Trade and Other Receivables | 459,808 | 255,478 | 20 | 20 | |
Amounts due from Related Companies | 45,695 | 42,058 | 105,980 | 99,687 | |
Investment in Fixed Deposit | 29,083 | 19,125 | - | - | |
Income Tax Recoverable | 11,675 | 11,674 | 607 | 607 | |
Cash and Cash Equivalent | 24,966 | 8,386 | 3,754 | 1,374 | |
Total Current Assets | 707,680 | 428,047 | 110,361 | 101,688 | |
TOTAL ASSETS | 790,166 | 515,298 | 192,461 | 189,270 | |
EQUITY AND LIABILITIES | |||||
Equity | |||||
Stated Capital | 83,000 | 83,000 | 83,000 | 83,000 | |
Reserves | (51,616) | 1,401 | 106,476 | 103,130 | |
Equity Attributable to Equity Holders of the | |||||
Company | 31,384 | 84,401 | 189,476 | 186,130 | |
Non-Current Liabilities | |||||
Retirement Benefit Obligations | 12,640 | 10,625 | - | - | |
Lease Obligation | - | 970 | - | - | |
Total Non Current Liabilities | 12,640 | 11,595 | - | - | |
Current Liabilities | |||||
Trade and Other Payables | 558,362 | 257,155 | 2,985 | 3,140 | |
Interest Bearing Borrowing | 135,216 | 89,916 | - | - | |
Lease Obligation | 970 | 939 | - | - | |
Amounts due to Related Companies | 21,025 | 2,225 | - | - | |
Bank Overdraft | 30,569 | 69,067 | - | - | |
Total Current Liabilities | 746,141 | 419,302 | 2,985 | 3,140 | |
TOTAL EQUITY & LIABILITIES | |||||
790,166 | 515,298 | 192,461 | 189,270 | ||
Net asset value per share | 0.11 | 0.30 | 0.67 | 0.66 |
I certify that the Financial Statements of the Company have been prepared in compliance with the requirements of the Companies Act No. 07 of 2007.
(Sgd)
N. Musheen
Senior Manager - Finance
The Board of Directors is responsible for the preparation and presentation of these Financial Statements.
Approved and signed for and on behalf of the Board of Muller & Phipps (Ceylon) PLC.
(Sgd) | (Sgd) |
R.C.A. Welikala | S.W.Gunawardena |
Director | Director |
Colombo | |
Date: 24th May 2022 | |
Muller & Phipps (Ceylon) PLC |
MULLER & PHIPPS (CEYLON) PLC
STATEMENT OF CHANGES IN EQUITY
Group | ||||||
Stated Capital | General Reserve | Capital Reserve | AFS Reserves | Retained Earnings | Total | |
Rs,'000 | Rs,'000 | Rs,'000 | Rs,'000 | Rs,'000 | Rs,'000 | |
Balance as at 1st April 2020 | 83,000 | 5,000 | 401 | 13,950 | (78,841) | 23,510 |
Profit for the period | - | - | - | - | 65,491 | 65,491 |
Other comprehensive income for the period | - | - | - | (4,600) | - | (4,600) |
Balance as at 31st March 2021 | 83,000 | 5,000 | 401 | 9,350 | (13,350) | 84,401 |
Balance as at 1st April 2021 | 83,000 | 5,000 | 401 | 9,350 | (13,350) | 84,401 |
Profit for the period | - | - | - | - | (47,537) | (47,537) |
Other comprehensive income for the period | - | - | - | (5,479) | - | (5,479) |
Balance as at 31st March 2022 | 83,000 | 5,000 | 401 | 3,871 | (60,887) | 31,384 |
Company | ||||||
Stated Capital | General Reserve | Capital Reserve | AFS Reserves | Retained Earnings | Total | |
Rs,'000 | Rs,'000 | Rs,'000 | Rs,'000 | Rs,'000 | Rs,'000 | |
Balance as at 1st April 2020 | 83,000 | 5,000 | 401 | 14,482 | 74,282 | 177,165 |
Profit for the period | - | - | - | - | 12,716 | 12,716 |
Other comprehensive income for the period | - | - | - | (3,751) | - | (3,751) |
Balance as at 31st March 2021 | 83,000 | 5,000 | 401 | 10,731 | 86,999 | 186,131 |
Balance as at 1st April 2021 | 83,000 | 5,000 | 401 | 10,731 | 86,999 | 186,131 |
Profit for the period | - | - | - | - | 8,828 | 8,828 |
- | ||||||
Other comprehensive income for the period | - | - | - | (5,482) | - | (5,482) |
Balance as at 31st March 2022 | 83,000 | 401 | 5,249 | 95,827 | 184,476 |
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Muller & Phipps (Ceylon) plc published this content on 27 May 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 May 2022 11:42:21 UTC.
