OVERSEAS REALTY (CEYLON) PLC Building
Value
Quarterly Financial Statements As At 31st December 2021
Consolidated Statement of Financial Position
COMPANY | GROUP | ||||||||
31/12/2021 | 31/12/2020 | 31/12/2021 | 31/12/2020 | ||||||
(Audited) | (Audited) | ||||||||
Rs. '000 | Rs. '000 | Rs. '000 | Rs. '000 | ||||||
ASSETS | |||||||||
Non-Current Assets | |||||||||
Investment Property | 26,548,458 | 26,658,288 | 27,446,614 | 27,569,849 | |||||
Investment Property Under Development | - | - | 25,637,157 | 18,981,270 | |||||
Property, Plant & Equipment | 417,614 | 437,129 | 1,218,349 | 1,234,118 | |||||
Intangible Assets | 11,427 | 16,013 | 11,427 | 16,013 | |||||
Investments in Subsidiaries | 13,708,885 | 12,208,885 | - | - | |||||
Inventories | - | - | 89,481 | 89,481 | |||||
Other Financial Assets | 506,600 | 541,600 | - | - | |||||
Total Non-Current Assets | 41,192,983 | 39,861,915 | 54,403,027 | 47,890,731 | |||||
Current Assets | |||||||||
Inventories | 10,983 | 8,882 | 7,479,047 | 9,695,209 | |||||
Contract Assets | - | - | 348,039 | ||||||
Trade and Other Receivables | 543,209 | 576,488 | 5,388,522 | 4,088,892 | |||||
Other Financial Assets | 272,341 | 383,180 | 227,630 | 371,656 | |||||
Income Tax Recoverable | - | - | 3,887 | 11,236 | |||||
Short Term Investments | 1,820,118 | 2,399,193 | 1,820,118 | 2,399,193 | |||||
Cash & Cash Equivalents | 843,456 | 238,020 | 1,701,512 | 1,306,984 | |||||
Total Current Assets | 3,490,108 | 3,605,763 | 16,968,756 | 17,873,169 | |||||
Total Assets | 44,683,091 | 43,467,678 | 71,371,783 | 65,763,900 | |||||
EQUITY & LIABILITIES | |||||||||
Equity Attributable to Equity Holders of the Parent | |||||||||
Stated Capital | 18,443,353 | 18,443,353 | 18,443,353 | 18,443,353 | |||||
Revaluation Reserve | 397,536 | 394,381 | 441,695 | 411,508 | |||||
Retained Earnings | 23,640,578 | 22,711,311 | 28,236,489 | 25,726,717 | |||||
Total Equity | 42,481,467 | 41,549,045 | 47,121,538 | 44,581,578 | |||||
Non-Current Liabilities | |||||||||
Post Employment Benefit Liability | 30,899 | 31,034 | 57,958 | 59,758 | |||||
Amounts due to Related Parties | - | - | 10,052,737 | 9,148,728 | |||||
Differed Tax Liabilities | 541,908 | 541,908 | 717,651 | 717,651 | |||||
Total Non-Current Liabilities | 572,807 | 572,943 | 10,828,346 | 9,926,137 | |||||
Current Liabilities | |||||||||
Trade & Other Payables | 624,300 | 250,755 | 3,350,381 | 2,425,225 | |||||
Rental & Customer Deposits | 896,537 | 998,711 | 1,633,649 | 1,212,461 | |||||
Interest Bearing Loans & Borrowings | - | - | 8,100,615 | 7,470,891 | |||||
Income Tax Payable | 83,573 | 71,815 | 312,848 | 123,198 | |||||
Dividend Payable | 24,406 | 24,410 | 24,406 | 24,410 | |||||
Total Current Liabilities | 1,628,816 | 1,345,691 | 13,421,900 | 11,256,185 | |||||
Total Liabilities | 2,201,624 | 1,918,634 | 24,250,245 | 21,182,322 | |||||
Total Equity & Liabilities | 44,683,091 | 43,467,678 | 71,371,783 | 65,763,900 | |||||
All figures are provisional and subject to audit, unless otherwise stated. | |||||||||
31/12/2021 | 31/12/2020 | ||||||||
Net Asset Value Per Share (Rs) | 37.91 | 35.87 | |||||||
A. M.De S. Jayaratne | T. K. Bandaranayake | ||||||||
Director | Director |
Colombo
23rd February 2022
Page 1 of 11
Company - Statement of Profit or Loss
COMPANY | |||||
Quarter Ended | Twelve Months | Quarter Ended | Twelve Months | Variance | |
Ended | Ended | ||||
31/12/2021 | 31/12/2021 | 31/12/2020 | 31/12/2020 | % | |
Rs. '000 | Rs. '000 | Rs. '000 | Rs. '000 | ||
Rental Income | 468,304 | 1,965,318 | 546,404 | 2,179,907 | -10% |
Other Services | 8,890 | 23,470 | 4,694 | 30,164 | -22% |
Total Revenue | 477,194 | 1,988,787 | 551,098 | 2,210,071 | -10% |
Direct Operating Expenses | (125,985) | (503,939) | (129,412) | (517,650) | 3% |
Gross Profit | 351,210 | 1,484,849 | 421,686 | 1,692,421 | -12% |
Fair Value Gain / (Loss) on Investment Property | (170,198) | (418,713) | (181,632) | (243,310) | -72% |
Administration Expenses | (73,831) | (204,115) | (62,842) | (184,698) | -11% |
Exchange Gain / (Loss) | 143 | 12,778 | (3,797) | 10,528 | 21% |
Finance Cost | (12,502) | (12,502) | (123,687) | (123,688) | -90% |
Finance Income | 39,723 | 131,536 | 50,111 | 346,225 | -62% |
Profit Before Tax | 134,545 | 993,834 | 99,839 | 1,497,478 | -34% |
Income Tax Expense | (17,858) | (69,781) | (12,295) | (64,272) | -9% |
Profit After Tax | 116,686 | 924,053 | 87,544 | 1,433,206 | -36% |
All figures are provisional and subject to audit, unless otherwise stated.
Colombo
23rd February 2022
Page 2 of 11
Consolidated - Statement of Profit or Loss
GROUP | |||||
Quarter Ended | Twelve Months | Quarter Ended | Twelve Months | Variance | |
Ended | Ended | ||||
31/12/2021 | 31/12/2021 | 31/12/2020 | 31/12/2020 | % | |
Rs. '000 | Rs. '000 | Rs. '000 | Rs. '000 | ||
Rental Income | 490,306 | 2,049,407 | 476,858 | 2,255,858 | -9% |
Sale of Apartments | 2,177,765 | 5,144,331 | 1,405,542 | 2,191,973 | 135% |
Other Services | 97,546 | 504,423 | 104,643 | 349,385 | 44% |
Total Revenue | 2,765,617 | 7,698,161 | 1,987,043 | 4,797,216 | 60% |
Direct Operating Expenses | (432,335) | (1,453,826) | (163,492) | (757,353) | -92% |
Cost of Sales of Apartments | (1,023,386) | (2,478,932) | (925,088) | (1,610,461) | -54% |
Gross Profit | 1,309,896 | 3,765,403 | 898,463 | 2,429,402 | 55% |
Fair Value Gain / (Loss) on Investment Property | (183,603) | (432,117) | (234,615) | (280,951) | -54% |
Administration Expenses | (127,950) | (535,394) | (256,721) | (438,036) | -22% |
Exchange Gain / (Loss) | (3,361) | 19,569 | (835) | 9,277 | 111% |
Marketing & Promotional Expenses | (51,971) | (123,227) | (25,569) | (103,235) | -19% |
Finance Cost | (13,491) | (14,287) | (104,498) | (125,211) | 89% |
Finance Income | 38,667 | 125,827 | 115,384 | 335,420 | -62% |
Other income | 10,320 | 32,965 | 1,444 | 20,264 | 63% |
Profit Before Tax | 978,507 | 2,838,739 | 393,053 | 1,846,930 | 54% |
Income Tax Expense | (80,390) | (337,917) | (46,489) | (112,730) | -200% |
Profit After Tax | 898,117 | 2,500,822 | 346,564 | 1,734,200 | 44% |
All figures are provisional and subject to audit, unless otherwise stated. | |||||
Accounting Ratios As At | 31/12/2021 | 31/12/2020 | |||
Quarter | Twelve Months | Quarter | Twelve Months | ||
Dividends Per Share (Rs) | - | - | |||
Interest Cover (Times) | High | High | |||
Debt/Equity Ratio (Times) | 0.17 | 0.17 | |||
Quick Asset Ratio (Times) | 0.39 | 0.41 | |||
Earnings Per Share | 0.72 | 2.01 | 0.47 | 1.37 | |
Earnings Per Share without Fair Value Gain (Rs) | 0.87 | 2.36 | 0.42 | 1.61 | |
The Company or its subsidiaries do not have listed debt | |||||
(Rs) | (Rs) | ||||
Performance at the CSE during the Quarter Ended | 31/12/2021 | 31/12/2020 | |||
Last Traded Price | 19.20 | 14.40 | |||
High | 21.50 | 15.00 | |||
Low | 16.50 | 12.10 |
Page 3 of 11
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME | ||||
COMPANY | GROUP | |||
Twelve Months | Twelve Months | Twelve Months | Twelve Months | |
Ended | Ended | Ended | Ended | |
31/12/2021 | 31/12/2020 | 31/12/2021 | 31/12/2020 | |
Rs. 000 | Rs. 000 | Rs. 000 | Rs. 000 | |
Profit For the Period | 924,053 | 1,433,206 | 2,500,822 | 1,734,200 |
Revaluation of Land and Buildings | 3,155 | 14,316 | 30,188 | 18,509 |
Differed Tax Effect | - | (286) | - | (286) |
Accurial Gain/(Loss) | 5,214 | (10,777) | 8,949 | (1,991) |
Differed Tax Effect | (3,026) | |||
Other Comprehensive Income for the Period, Net of Tax | 8,369 | 3,252 | 39,137 | 13,206 |
Total Comprehensive Income for the Period, Net of Tax | 932,422 | 1,436,458 | 2,539,960 | 1,747,406 |
Attributable to: | ||||
Equity Holders of the Parent | 2,539,960 | 1,747,406 | ||
Non-controlling Interest | - | - | ||
2,539,960 | 1,747,406 | |||
23rd February 2022
Page 4 of 11
This is an excerpt of the original content. To continue reading it, access the original document here.
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
Overseas Realty Ceylon plc published this content on 23 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 February 2022 11:48:07 UTC.
