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 12 Months Ended Audited As At Audited Twelve Month Ended Audited (All Amounts in Sri Lanka Rupees) 31/03/18 31/03/17 Change 31/03/18 31/03/17 Change (All Amounts in Sri Lanka Rupees) 31/03/118 31/03/17 (All Amounts in Sri Lanka Rupees) 31/03/18 31/03/17 Rs.'000 Rs.'000 % Rs.'000 Rs.'000 % Rs.'000 Rs.'000 Rs.'000 Rs.'000 ASSETS Operating activities Revenue 16,278 13, ,819 55, Profit before taxation 160, ,724 - Non Current Assets Adjustments for :- Direct Expenses (4,212) (3,240) 30 (14,788) (12,961) 14 Property, Plant and Equipment 21,135 4,052 Depreciation 6,932 5,551 Gross Profit 12,066 10, ,031 42, Investment Property 51,609 52,646 Impairment of AFS Financial Assets 25,749 - Financial Assets Available for Sale 1,447,519 1,485,149 Provision for retirement benefit 964 Other Income 48,329 52,014 (7) 137, ,479 (8) Financial Assest Held to Maturity Investments 292, ,442 Profit on disposal of shares (4,983) (689) Administration Expenses (8,540) (9,874) (14) (24,760) (22,935) (4) Total Non Current Assets 1,812,785 1,834,289 Interest Income (63,610) (50,208) Other Expenses (25,749) (100) Profit From Operations 51,855 29, , , Current Assets Dividend Income (68,577) (98,582) Income Tax Expenses (3,000) (5,209) (42) (12,000) (11,809) 2 Trade and Other Receivables 17,098 14,998 Operating Profit before Working Capital Changes 30,202 26,512 Profit For the Year 48,855 24, , , Amount Due from Related Parties - - Changes in working capital - Income Tax Receivable - - Increase/(Decrease) in Trade and other Receivable (2,100) 7,858 Other Comprehensive Income - Cash and Cash Equivalents 271, ,845 Increase/(Decrease) in Trade & Other Payables 2, Items that will or may be reclassified to the - Total Current Assets 288, ,843 Cash generated from /(used) in operations 31,025 34,865 statement of comprehensive income - TOTAL ASSETS 2,100,928 2,147,132 Net Changes in Fair Value of AFS Financial Assets (60,746) (42,781) 42 (186,036) (23,686) 685 Interest received 63,610 50,208 Reclassification of Impairment Loss On AFS Financial 25,749 (100) EQUITY AND LIABILITIES Income tax paid (11,840) (6,809) Assets to Profit or Loss Gratuity Paid - (40) Transfer of Realized Gains on AFS Financial Assets (1,540) - 4,115 (22) (18,493) Net cash from/(used) in operating activities 82,794 78,224 Items that will not be reclassified to the statement of Equity comprehensive income Investing activities Remeasurement of retirement benefit obligation ,089 (100) Stated Capital 119, ,000 Related tax on remeasurement of retirement benefit obligation - - (585) (100) General Reserve 1,149,000 1,149,000 Acqusition of Property Plant & Equipment (22,700) - Total Other Comprehensive Income (62,286) (42,781) (181,921) 3,544 (5,233) Available for Sale Reserve 542, ,350 Purchase of Debenture - - Total Comprehensive Income (13,431) (18,051) 26 (33,481) 135,460 (125) Retained Earnings 249, ,381 Sale Of Quoted Shares 58,915 21,364 Total Equity 2,059,931 2,109,732 Purchase of investment (197,331) (94,407) Earnings Per Share - Basic Dividend received 67,518 98,582 Non-Current Liabilities Deposits Received - STATEMENT OF CHANGES IN EQUITY Available Retirement Benefit Obligations 6,363 5,051 Net cash (used)/ from in investing activities (93,599) 25,535 Stated Retained General Reserve for Sale Total Capital Earnings Reserve Rental Deposits-Long Term 18,534 15,920 Balance at 01 st April ,000 1,049,000 94, ,309 1,984,471 Deferred Tax Liabilities 6,894 6,894 Financing activities Fair Value Gain / (Loss) on Dealing Securities (23,708) (23,708) Total Non Current Liabilities 31,792 27,865 Dividend paid (16,320) (10,200) Impairment of AFS Financial Assets 25,749 25,749 Current Liabilities Net cash used in financing activities (16,320) (10,200) Remeasurement Of retirement benefit obligation 1,504 1,504 Amount Due to Related Parties (Decrase)/Increase in cash and cash equivalents (27,124) 93,558 Net Profit , ,915 Trade and Other Payables 8,117 5,195 Dividends Paid - - (10,200) - (10,200) Income Tax payable 591 4,167 Movement in cash and cash equivalents Transfer to general reserve 100,000 (100,000) - Bank Over Draft At start of year 297, ,132 Balance at 31 st March ,000 1,149, , ,350 2,109,731 Total Current Liabilities 9,205 9,536 Increase / (Decrease) (27,124) 93,558 Total Liabilities 40,997 37,401 Cash & Cash Equivalents at the end of year 270, ,690 Balance at 01 st April ,000 1,149, , ,350 2,109,731 ok Fair Value Gain / (Loss) on Dealing Securities (181,921) (181,921) Total Equity & Liabilities 2,100,928 2,147, ,567 Net Profit , ,440 Dividends Paid - - (16,320) - (16,320) Net assets per share (0) Balance at 31 st March ,000 1,149, , ,430 2,059,931 0 Rs. In M n Income Profit After Taxation 0 #REF! ( for the 12 months ended 31st March ) 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 Rs In For and on behalf of the Board Mn Mr.R.B.Thambiayah Chairman Colombo, 25 th May 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 September Reg Office : : 328, Galle Road,Colombo - 3 3) There were no contingent liabilities & contingent assets as at 31st March 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 - 31/03/18 31/03/17 Rs. Rs. Secretary : Mrs.M.A.Jayawardena CARGO BOAT DEVELOPMENT COMPANY PLC PROVISIONAL FINANCIAL STATEMENTS FOR THE TWELVE MONTHS ENDED 31ST MARCH 2018 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 March ) Names and the Number of shares held by the 20 largest shareholders as at 31st March 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 ,539 8) The Percentage of shares held by the public as at 31st March 2018 : 33.38% Tranz Dominion L.L.C ,000 Number of Public shareholders: 846 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 ,048,354

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