LB Finance PLC. A-PDF Merger DEMO : Purchase from to remove the watermark

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1 A-PDF Merger DEMO : Purchase from to remove the watermark INTERIM FINANCIAL STATEMENT FOR THE THREE MONTHS ENDED JUNE 30, 2010 LB Finance PLC

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3 LB FINANCE PLC INCOME STATEMENT FOR 3 MONTHS ENDED Variance % Income 1,154, , Interest Income 1,109, , Interest Expenses 546, ,010 7 Net Interest Income 563, , Other Operating Income 44,345 29, , , Less: Operating Expenses Staff Costs 99,965 62,857 (59) Provision for Staff Retirement Benefits 3,997 2,204 (81) General & Administration Expenses 107,973 86,596 (25) Provision for fall in value of Investments, Bad and doubtful loans and write offs 26,613 60, Profits from operations 369, , Value Added Tax on Financial Services 56,251 25,493 (121) Profits before Tax 313, , Provisions for Taxation 132,145 51,546 (156) Net Profit for the Period 181,159 76, Earnings per share STATEMENT OF CHANGES IN EQUITY FOR THE THREE MONTHS ENDED 30TH JUNE 2010 Stated Reserve Accumulated Total Capital Fund Profit Balance as at 31 March , , ,007 1,756,433 Net Profit for the Period , ,159 Appropriation of Bad Debts - - 2,514 2,514 Transfers to/(from) during the period - 36,232 (36,232) - Dividend for (173,143) (173,143) Balance as at 30th June , , ,305 1,766,963 Balance as at 31 March , , ,704 1,350,097 Net Profit for the Period ,660 76,660 Transfers to/(from) during the period - 15,332 (15,332) - Appropriation of Bad Debts ,300 Balance as at 30th June , , ,332 1,430,057

4 LB FINANCE PLC CASH FLOW STATEMENT FOR 3 MONTHS ENDED Cash Flows From / (Used in) Operating Activities Profits before Tax 313, ,206 Adjustments for Depreciation 15,841 12,867 Amortization of computer software Interest cost on Finance Leases Provisions for doubtful debts 26,613 60,925 Provision for Defined Benefit Plan Costs 3,997 2,204 Profit from sale of Fixed Assets (18) - Notional Tax Credit on Interest on Treasury Bills (2,470) (3,717) Withholding Tax attributed to Fixed Deposit & Professional Fees (4,317) (2,627) Dividends Received (165) (210) Operating Profit/(Loss) before Working Capital Changes 353, ,862 (Increase)/ Decrease in Real Estate Stock 13,144 2,651 (Increase)/ Decrease in Lease Rentals Receivable and Stock out on hire (886,517) 170,934 (Increase) /Decrease in Government of Sri Lanka Treasury Bills (141,118) (23,651) (Increase)/ Decrease in Loans and Advances (17,482) 67,566 (Increase) /Decrease in Other Debtors, Deposits & Prepayments (17,952) (9,296) (Increase) /Decrease in Vehicle stocks (63,082) 5,568 (Increase)/ Decrease in Placements with Banks (950,000) (428,080) Increase / (Decrease) in Deposits from Non Bank Customers 1,017, ,560 Increase / (Decrease) in Borrowings 1,122,131 (187,390) Increase / (Decrease) in Accrued Charges 36,410 6,613 Increase / (Decrease) in Pawning Advances (432,288) (123,895) Cash Generated from Operations 34, ,442 Retirement Benefit Liabilities Paid (33) (108) Net Cash from/(used in) Operating Activities 34, ,334 Taxes paid (23,832) (21,754) Net Cash from/(used in) Operating Activities 11, ,580 Cash Flows from / (Used in) Investing Activities Acquisition of Property, Plant & Equipment (23,480) (12,802) Proceeds from Sale of Other investments (80,972) - Dividends Received Proceeds from Sale of Fixed Assets 25 - Net Cash Used in Investing Activities (104,262) (12,592) Cash Flows from / (Used in) Financing Activities Principal Payment under Finance Lease Liability (656) (1,313) Dividends paid (173,143) - Net Cash from / (Used) in Financing Activities (173,799) (1,313) Net Increase/(Decrease) in Cash and Cash Equivalents (266,969) 331,675 Cash and Cash Equivalents at the beginning of the period 479,603 (165,003) Cash and Cash Equivalents at the end of the period 212, ,672

5 EXPLANATORY NOTES The accounting policies and methods of computation followed in preparing the above financial statements are the same as those disclosed in our Annual Report for the year ended 31st March These Financial Statements are presented in accordance with Sri Lanka Accounting Standard No.35 Interim Financial Reporting. There have been no material events occurring after the balance sheet date that require adjustments to or disclosure in the Financial Statements except the Board of Directors has declared an interim dividend of Rs.5 per share totaling to Rs.173 Million on 18th May Information on Shares INFORMATION ON ORDINARY SHARES For the Quarter Ended Share Price During the Quarter Highest Rs Lowest Rs Closing Rs No of Ordinary Share Issued As At 30, June 34,628,571 34,628,571 Information on Listed Debentures Debt Equity Ratio % 82.66% Liquid Asset Ratio 18.98% 20.54% Interest Cover Interest Rate of Comparable Government Securities 9.52% 13.31% Market Price During Three Months Not Traded * Not Traded * Interest Yield As At Date of Last Trade Not Traded * Not Traded * Yield To Maturity of Trade Done Not Traded * Not Traded * Capital Adequacy SELECTED PERFORMANCE INDICATORS As At As At Core Capital to Risk Weighted Asst Ratio 11.68% 13.16% Total Capital to Risk Weighted Asset Ratio 14.33% 17.54% Capital Funds to Total Deposit Liabilities Ratio 13.08% 13.96% Profitability Return on Equity 41.13% 22.06% Return on Assets (After Tax) 4.17% 2.31% Asset Quality (Rs.'000) Non-Performing Accommodation (Net of Interest in Suspense) 658, ,945 Total Accommodations (Net of Interest in Suspense) 16,440,368 12,905,660 Net Total Accommodations (Net of Provision for Bad & Doubtful Debts 15,970,761 12,579,849 & Interest in Suspense) Liquidity (Rs.'000) Required Minimum Amount of Liquid Asset 1,352,187 1,026,549 Available Amount of Liquid Asset 1,475,735 1,661,143 Required Minimum Amount of Government Securities 839, ,594 Available Amount of Government Securities 850, ,312 CASH AND CASH EQUIVALENTS IN THE CASH FLOW STATEMENT Cash & Bank Balances 275, ,735 Re-Purchase Agreements ( less than 3 months) 356, ,311 Bank Overdrafts (419,491) (117,374) Total Cash and Cash Equivalents 212, ,672 * Not Traded During Last Three Months

6 SEGMENTAL ANALYSIS Lease & Stock out on Hire Term Loans Real Estate Pawning Others Total Interest 784, ,464 42,598 37, , ,419 79,965 84,064 1,109, ,041 Real Estate , ,739 Fee Based Income & others 8,066 11, ,238 16,767 2,868 1,053 44,172 29,250 Total Revenue 792, ,894 42,598 37, , , ,186 82,833 85,117 1,154, ,030 Segmental Result 432, ,976 21,174 18,308 (5,668) (10,625) 131,706 85,604 21,739 28, , ,282 Unallocated Expenses (287,864) (238,076) Profits from operations 313, ,206 Income Tax expenses (132,145) (51,546) Net profit for the period 181,159 76,660 Segment Asset 11,617,324 9,006,846 1,079, , , ,850 3,598,318 1,914,240 2,598,799 1,700,724 19,121,809 13,860,120 Unallocated Assets 518, ,971 Total Assets 19,639,904 14,147,091 Segment Liabilities 1,183, , ,927 41,413 22,315 14, ,447 64, , ,000 2,131,780 1,322,043 Unallocated Liabilities 15,741,161 11,394,991 Total Liabilities 17,872,941 12,717,034

7 L B Finance PLC Interim Financial Statements for the three months ended 30 June 2010 Additional Notes Twenty Largest holders of Shares as at 30th June 2010 Name No. of Shares (%) 1 Mr. K D D Perera 22,001, Esna Holdings (Pvt) Ltd 3,471, SBL/ Mr. K A D D Perera 2,698, Commercial Bank of Ceylon PLC/ 1,174, Royal Ceramics Lanka PLC 5 National Savings Bank 412, Seylan Bank PLC/Janashakthi Limited 310, Mr. Nimal Perera 443, Mr. A A Salehbhai 190, Mr. D F G Dalpethado 160, Seylan Bank PLC/Goveindasamy Ramanan 138, Merchant Bank of Sri Lanka PLC/ 120, J A S Piyawardena 12 Mr. M Sritharan 111, Dr. T Senthilverl 100, Mr. H A M P Algama 100, Mr. P C Cooray 82, MAS Capital (Private) Limited 80, Mr. A M Weerasinghe 74, Waldock Mackenzie Ltd / Mrs. G Soysa 61, Mrs. L S A Seresinghe 60, Pan Asia Banking Corporation PLC/ 56, Emagwise (Pvt) Ltd 31,848, Others 2,779, Total 34,628, Directors' and Chief Executive Officer's holding in shares as at 30th June 2010 Name No. of shares % Mr. B M Amarasekera & 100 Mr. S H Amarasekera Mr. K D D Perera ] 24,699, SBL/Mr. K A D D Perera ] Mr. J A S S Adhihetty 26, Mr. Nimal Perera 443, Mr. A M Weerasinghe 74, Mr. K D A Perera - - Mr. N Udage 2, Mr. B D St. Auburn Perera - - Mr. M D S Goonatilleke 45 - Mrs. K Fernando Mr. L N De Silva Wijeyeratne - - PUBLIC HOLDING The percentage of shares held by the public as at 30th June 2010 is 17.04%