CARGO BOAT DEVELOPMENT COMPANY PLC

Transcription

1 CARGO BOAT DEVELOPMENT COMPANY PLC STATEMENT OF COMPREHENSIVE INCOME STATEMENT OF FINANCIAL POSITION STATEMENT OF CASH FLOW Quarter Ended Nine Months Ended Audited As At As At Audited Nine Month Ended (All Amounts in Sri Lanka Rupees) 31/12/17 31/12/16 Change 31/12/17 31/12/16 Change 31/03/17 (All Amounts in Sri Lanka Rupees) 31/12/17 31/12/16 31/03/17 (All Amounts in Sri Lanka Rupees) 31/12/17 31/12/16 Rs.'000 Rs.'000 % Rs.'000 Rs.'000 % Rs.'000 Rs.'000 Rs.'000 Rs.'000 Rs.'000 Rs.'000 ASSETS Operating activities Revenue 15,801 13, ,541 41, ,889 Profit before taxation 108, ,786 Non Current Assets Adjustments for :- Direct Expenses (4,106) (2,790) 47 (10,575) (9,721) 9 (12,961) Property, Plant and Equipment 22,570 5,154 4,052 Depreciation 4,959 4,190 Gross Profit 11,694 11, ,966 32, ,929 Investment Property 51,868 52,905 52,646 Profit on disposal of shares (2,870) - Financial Assets Available for Sale 1,459,307 1,541,939 1,485,149 Interest Income (48,816) (35,624) Other Income 31,169 30, ,840 97,465 (9) 149,479 Financial Assest Held to Maturity Investments 291, , ,442 Dividend Income (37,153) (61,841) Administration Expenses (6,401) (5,833) 10 (16,220) (15,875) #DIV/0! 2 (48,683) Total Non Current Assets 1,824,843 1,891,001 1,834,289 Operating Profit before Working Capital Changes 24,704 20,511 Profit From Operations 36,463 35, , ,786 (5) 143,724 Current Assets Changes in working capital Income Tax Expenses (3,000) (2,200) 36 (9,000) (6,600) 36 (11,809) Trade and Other Receivables 14,444 15,276 14,998 Increase/(Decrease) in Trade and other Receivable 554 8,206 Profit For the Year 33,463 33, , ,186 (7) 131,915 Amount Due from Related Parties Increase/(Decrease) in Trade & Other Payables (1,564) (7,200) Income Tax Receivable - 1,513 - Cash generated from /(used) in operations 23,695 21,517 Other Comprehensive Income Cash and Cash Equivalents 269, , ,845 Items that will or may be reclassified to the Total Current Assets 283, , ,843 Interest received 50,158 34,766 statement of comprehensive income TOTAL ASSETS 2,108,360 2,133,591 2,147,132 Income tax paid (9,358) (4,237) Net Changes in Fair Value of AFS Financial Assets (23,117) (65,864) (65) (125,291) 19,095 (756) (23,686) Gratuity Paid - (40) Reclassification of Impairment Loss On AFS Financial EQUITY AND LIABILITIES Net cash from/(used) in operating activities 64,495 52, ,749 Assets to Profit or Loss Transfer of Realized Gains on AFS Financial Assets - - 5,656 - (22) Investing activities Items that will not be reclassified to the statement of Equity comprehensive income Acqusition of Property Plant & Equipment (22,700) - Remeasurement of retirement benefit obligation ,089 Stated Capital 119, , ,000 Purchase of Debenture - - Related tax on remeasurement of retirement benefit obligation (585) General Reserve 1,149,000 1,049,000 1,149,000 Sale Of Quoted Shares 50,824 - Total Other Comprehensive Income (23,117) (65,864) (119,635) 19,095 3,544 Available for Sale Reserve 604, , ,350 Purchase of investment (142,321) (82,466) Total Comprehensive Income 10,346 (32,499) 132 (20,050) 126, ,460 Retained Earnings 200, , ,381 Dividend received 37,153 56,562 Total Equity 2,073,362 2,100,552 2,109,731 Deposits Received 4,969 Earnings Per Share - Basic Net cash (used)/ from in investing activities (77,044) (20,936) Non-Current Liabilities STATEMENT OF CHANGES IN EQUITY Available Stated General Retained Retirement Benefit Obligations 5,051 6,215 5,051 Financing activities for Sale Total Capital Reserve Earnings Reserve Rental Deposits-Long Term 18,230 15,920 15,920 Dividend paid (16,320) (10,200) Balance at 01 st April ,000 1,049,000 94, ,309 1,984,472 Deferred Tax Liabilities 6,894 7,916 6,894 Net cash used in financing activities (16,320) (10,200) Fair Value Gain / (Loss) on Dealing Securities ,095 19,095 Total Non Current Liabilities 30,175 30,050 27,865 (Decrase)/Increase in cash and cash equivalents (28,869) 20,870 Net Profit , ,186 Current Liabilities Dividends Paid - - (10,200) - (10,200) Amount Due to Related Parties Movement in cash and cash equivalents Trade and Other Payables 3,566 1,990 5,195 At start of year 297, ,132 Balance at 31 st December ,000 1,049, , ,404 2,100,552 Income Tax payable 922-4,167 Increase / (Decrease) (28,869) 20,870 Bank Over Draft Cash & Cash Equivalents at the end of year 268, ,002 Balance at 01 st April ,000 1,149, , ,350 2,109,731 Total Current Liabilities 4,823 2,988 9,536 Fair Value Gain / (Loss) on Dealing Securities (119,635) (119,635) Total Liabilities 34,998 33,039 37,401 Net Profit ,585-99,585 ok Dividends Paid - - (16,320) - (16,320) Total Equity & Liabilities 2,108,360 2,133,591 2,147,132 Balance at 31 st December ,000 1,149, , ,716 2,073,362 Net assets per share Income Profit After Taxation ( for the 9 months ended 31st December ) (0) (0) Rs. In M n Rs In Mn ok (0) (0) 0 The attached notes form an integral part of these Financial Statements. The Finance Director certifies that the financial statements have been prepared in compliance with the requirements of the Companies Act No.7 of For and on behalf of the Board. Mr.R.B.Thambiayah Chairman Colombo, 09 th February 2018 Mrs.M.A.Jayawardena. Finance Director

2 Notes to the financial statements 1) The financial statements are provisional and subject to audit. The Company has followed the same Accounting Policies and methods of computation as disclosed in the Annual Report for the financial year ended 31 st March These Interim Financial Statements have been prepared based on the Sri Lanka Accounting Standards that came into effect from January 01, 2012 (SLFRS/LKAS). Further, these Interim Financial Statements have been prepared in compliance with the requirements of the Sri Lanka Accounting Standard - LKAS 34 on 'Interim Financial Reporting'. Previous year figures and phrases have been re-arranged wherever necessary to confirm to the current presentation. Name of : Reg No : PQ 222 Legal Form : CARGO BOAT DEVELOPMENT COMPANY PLC : Cargo Boat Development Company PLC A Public Quoted Company with Limited Liability. (Incorporated in Sri Lanka on 26th March 1980 ) 2) A final dividend of Rs. 1/60 per share for the Financial year ended 31 st March 2017 was paid on 30 th Reg Office : : 328, Galle Road,Colombo - 3 September ) There were no contingent liabilities & contingent assets as at 31st December Directors : 4) There have been no other events subsequent to the interim Report Period which require disclosure in the provisional Financial Statements. Mr.R.B.Thambiayah - Chairman Mrs.N.A.Thambiayah - Deputy Chairman Ms.N.R.Thambiayah-Managing Director Mrs.M.A.Jayawardena Ms.S.R Thambiayah Mr.R.S Tissanayagam 5) The stated capital is represented by 10,200,036 issued shares. Mr.C.S.Wijeyaratne 6) Investor Information Ms.A.L.Thambiayah Market Price During the Quarter - 31/12/17 31/12/16 Rs. Rs. Secretary : Mrs.M.A.Jayawardena CARGO BOAT DEVELOPMENT COMPANY PLC PROVISIONAL FINANCIAL STATEMENTS FOR THE NINE MONTHS ENDED 31ST DECEMBER 2017 Highest Lowest Last traded Auditors : BDO Partners Chartered Accountants, /2,Sir Chittampalam A.Gardiner Mawatha, Colombo 2. Bankers : Standard Chartered Bank Hatton National Bank National Development Bank Union Bank Commercial Bank Of Ceylon Cargo Boat Development Company PLC (Company Reg : No : PQ 222) Renuka Building, 41, Janadhipathi Mawatha, Colombo 1. Tel: Registered Office: 328, Galle Road, Colombo 3, Sri Lanka. TEL: , FAX: renukaht@renukahotel.com

3 CARGO BOAT DEVELOPMENT COMPANY PLC Notes to the financial statements (Continued) 7)The Number of shares held by the Directors as at 31 st December ) Names and the Number of shares held by the 20 largest shareholders as at 31st December Number Mr R.B.Thambiayah - Chairman/CEO 3,003 Name of Shareholder % No of Shares Mr Merril J Fernando 28,600 Mrs.N.A.Thambiayah 1,647 Lancaster Holdings Limited ,073,524 Mrs.M.A.Jayawardena NIL Renuka Properties Limited ,256,242 Ms.S.R.Thambiayah NIL Associated Electrical Corporation Limited ,104,400 Mr R.S.Tissanayagam NIL People's Leasing & Finance PLC/Mr.H.M. Abdul Hussein ,601 Mr C.S.Wijeyeratne NIL Mr.Yusuf Husseinally Abdulhussein ,100 Ms.A.L.Thambiayah 228 J.B.Cocoshell (Pvt) Limited ,776 Ms.N.R.Thambiayah NIL Ms.Rukaiya Husseinally Abdulhussain ,388 Merrill J.Fernando & Sons (Pvt) Ltd ,998 Amalgamated Theatres Pvt Ltd ,711 Essajee Carimjee Insurance Brokers (Pvt) Limited ,646 8) The Percentage of shares held by the public as at 31st December 2017 : 33.38% Tranz Dominion L.L.C ,000 Number of Public shareholders: 845 People's Leasing & Finance PLC/L.P.Hapangama ,996 Commercial Bank of Ceylon PLC/ H.M. Dawoodbhoy ,500 Mr.Muzaffer Hussain Yusuf Ibrahim Jafferjee ,251 Mrs.Yamini Mahendra Ambani ,000 Cocoshell Activated Carbon Company Limited ,568 N.H.Dawoodbhoy & Co.(Pvt) Ltd ,000 Mr.Pitipana Arachchige Jehan Kumara ,000 Mr. Gulamhussein Moshinally Abdulhussein ,760 Commercial Bank of Ceylon PLC/ N.H. Dawoodbhoy and Company (Pvt) Ltd ,000 TOTAL ,045,461

4

5

6