Total assets 9,058,730 7,897,408 7,519,159 5,716,462

Transcription

1 STATEMENT OF FINANCIAL POSITION Group Company Unaudited Audited Unaudited Audited As at As at As at As at Rs.000' Rs.000' Rs.000' Rs.000' ASSETS Non - current assets Property,Plant and Equipment 144, ,523 9,641 29,438 Investment Property 7,833,740 7,670,860 4,005,242 4,003,770 Investment in Subsidiaries , ,000 Investment in Associates - - 8,299 3,199 7,977,794 7,835,383 4,831,472 4,236,407 Current assets Inventories Trade and Other Receivables 82,027 49,489 1,630,192 1,403,092 Investment in Preference Shares - Loans and Receivables ,970 74,734 Available - For Sale Financial Assets Income Tax Recoverable 4,762 4, Cash and Cash Equivalents 993,621 7, ,473 2,178 1,080,936 62,025 2,687,687 1,480,055 Total assets 9,058,730 7,897,408 7,519,159 5,716,462 EQUITY AND LIABILITIES Equity Stated Capital 341, , , ,602 Revaluation Reserves 47,080 47, Retained Earnings 3,866,752 3,881,198 3,325,382 2,600,670 Equity Attributable to Equity Holders of the Parent 4,255,434 4,269,880 3,666,984 2,942,272 Non-Controlling Interests (808) (808) - - Total equity 4,254,626 4,269,072 3,666,984 2,942,272 Non-current liabilities Interest Bearing Loans and Borrowings 2,587,845 1,277,367 2,587,845 1,277,366 Deferred Tax Liabilities 1,722,672 1,722,672 1,084,128 1,084,127 Retirement Benefit Liability 10,094 9,037 9,703 8,646 4,320,612 3,009,076 3,681,676 2,370,139 Current liabilities Trade and Other Payables 171,187 67,660 37,722 7,830 Income Tax Liabilities 5,269 5,412 5,269 5,415 Interest Bearing Loans and Borrowings 87, ,967 82, ,968 Tenant Deposits 219, ,221 45,244 46, , , , ,051 Total liabilities 4,804,104 3,628,336 3,852,175 2,774,190 Total equity and liabilities 9,058,730 7,897,408 7,519,159 5,716,462 Net Asset per Share (Rs.) The notes form an integral part of these Financial Statements. The figures are provisional and subject to Audit. Sgd. Finance Manager Signed for and on behalf of the Board of Directors of Colombo Land & Development Company PLC Sgd. Director 14th February 2017 Sgd. Director

2 STATEMENT OF COMPREHENSIVE INCOME Group Company Unaudited Unaudited Unaudited Audited Unaudited Unaudited Unaudited Audited Quarter Ended Quarter Ended Year Ended Year Ended Quarter Ended Quarter Ended Year Ended Year Ended Dec'16 Dec 15 Dec'16 Dec'15 Dec'16 Dec 15 Dec'16 Dec'15 Rs.000' Rs.000' Rs.000' Rs.000' Rs.000' Rs.000' Rs.000' Rs.000' Revenue 112,076 80, , ,592 33,038 24, ,180 89,214 Direct expenses (29,908) (33,188) (113,507) (78,472) (10,360) (8,872) (38,854) (29,666) Net Rental income 82,168 47, , ,120 22,678 16,040 93,327 59,548 Other Income and Gains ,747 4,324 1,127 1, ,702 5,884 Change in value of Investment Properties ,027, ,179 Selling and Distribution Costs (2,353) (932) (3,281) (3,955) (495) (1,035) (1,213) (1,611) Administrative Expenses (23,141) (18,100) (97,706) (127,531) (13,795) (18,413) (67,651) (58,357) Finance Cost (103,921) (29,783) (234,313) (64,433) (6,436) (4,476) (43,037) (17,553) Finance Income ,145-5,584 6,511 Profit / (loss) before tax (46,916) (1,193) (13,846) 1,967,971 4,224 (6,856) 724, ,599 Income Tax- Note 7 (150) - (600) (611,135) (176,613) Profit / (loss) for the year (47,066) (1,193) (14,446) 1,356,836 4,224 (6,856) 724, ,986 Other Comprehensive Income Net (Loss)Gain on Available For Sale Financial Assets Actuarial Loss on Defined Benefit Plans Total of Other Comprehensive Income Total Comprehensive income for the year,net of tax (47,066) (1,193) (14,446) 1,356,836 4,224 (6,856) 724, ,986 Attributable to: Equity Holders of the Parent (47,066) (1,173) (14,446) 1,356,838 4,224 (6,856) 724, ,986 Non-Controlling interests - (20) - (31) Earnings/(Loss) Per Share- Basic (0.24) (0.01) (0.07) (0.03) The notes form an integral part of these financial statements. The figures are provisional and subject to Audit

3 STATEMENT OF CASH FLOWS FOR THE QUARTER ENDED 31ST DECEMBER 2016 Group Company Unaudited Audited Unaudited Audited Year ended Year ended Year ended Year ended Rs.000' Rs.000' Rs.000' Rs.000' Cash Flows From / (Used in) Operating Activities Profit/(Loss) before Tax from continuing operations (13,846) 1,967, , ,599 Adjustments for Depreciation 13,226 13,679 8,431 10,413 Income from Investments - - (728,490) (3,908) (Increase)/Decrease in fair value of Investments Property - (2,027,447) - (592,179) Prov.for investment in quoted shares/profits(loss) Adj ,100 - Profit on disposal of Property,Plant & Equipment (4,853) 37 (4,853) 37 Dividend received - - (3,480) - Finance Costs 234,313 64,433 43,037 17,553 Bad Debt Provision - 1, Interest Income (6,511) Defined Benefit Plan Costs Paid (144) - (144) Provision for Defined Benefit Plans 1,200 1,530 1,200 1,460 Operating Profit/(Loss) before Working Capital Changes 229,896 21, ,512 13,550 (Increase)/Decrease in Inventories (167) (149) - - (Increase)/Decrease in Trade and Other Receivables (32,456) 1,460 (227,100) (299,908) Increase/(Decrease) in Tenant Deposits 17,723 19,971 (1,594) 16,539 Increase/(Decrease) in Trade and Other Payables 101,323 34,152 28,290 1,178 Cash Generated from Operations 316,319 76,798 (44,893) (268,639) Finance Cost Paid (234,313) (63,220) (43,037) (17,553) Income Tax Paid (143) (604) (143) - Net Cash From/(Used in) Operating Activities 81,863 12,974 (88,073) (286,193) Cash Flows from/(used in) Investing activities Proceeds from disposal of Other investments - 1,734-1,734 Subsequent expenditure on investment property (162,880) (267,200) (1,472) (1,830) Proceeds from Sale of Property,Plant,& Equipment 28, , Purchase of property, plant & equipment (16,482) (7,888) (302) (4,044) Interest received ,511 Dividend received - - 3,480 3,908 Net Cash Flows from/(used in) Investing Activities (150,782) (273,287) 18,226 6,345 Cash Flows from (Used in) Financing Activities Proceeds from Interest Bearing Loans & Borrowings 2,054,533 1,041,907 2,054,533 1,041,907 Proceeds From Redemption of Preference Shares - - 2,764 17,198 Repayment of Interest Bearing Loans & Borrowings (1,016,540) (617,670) (1,016,540) (617,670) Principal Payment under Finance Lease Liabilities (4,507) (4,507) Net Cash Flows from/(used in) Financing Activities 1,037, ,730 1,040, ,928 Net Increase / (Decrease) in Cash and Cash Equivalents 969, , , ,080 Cash and cash equivalents at the beginning of the year 5,456 (153,962) 300 (156,780) Increase/(decrease) 969, , , ,080 Cash and cash Equivalents at end of Year 974,528 5, , The notes form an integral part of these Financial Statements. The figures are provisional and subject to Audit

4 CONSOLIDATED STATEMENT OF CHANGES IN EQUITY FOR THE QUARTER ENDED 31ST DECEMBER 2016 Stated Revaluation Retained Non controlling Total Capital Reserve Earnings interests Rs. Rs. Rs. Rs. Rs. Group 000' 000' 000' 000' 000' Balance as at 01st January ,602 48,194 2,524,154 (776) 2,913,174 Net Profit/(Loss) for the Year - - 1,356,868 (31) 1,356,837 Transferred (to) / from - (488) Other Comprehensive Income for the Year - (625) (313) - (938) Balance as at 31st December ,602 47,080 3,881,198 (807) 4,269,073 Balance as at 01st January ,602 47,080 3,881,198 (808) 4,269,072 Net Profit/(Loss) for the Year - - (14,446) - (14,446) Balance as at 31st December ,602 47,080 3,866,752 (808) 4,254,626 Company Balance as at 01st January ,602-2,191,037-2,532,639 Net Profit/(Loss) for the Year , ,985 Other Comprehensive Income for the Year (351) (351) Balance as at 31st December ,602-2,600,671-2,942,273 Balance as at 01st January ,602-2,600,671-2,942,273 Net Profit/(Loss) for the Year , ,711 Balance as at 31st December ,602-3,325,382-3,666,984 The notes form an integral part of these financial statements. The figures are provisional and subject to Audit

5 OPERATING SEGMENT INFORMATION GROUP FOR THE YEAR ENDED 31ST DECEMBER 2016 Group Total Property Development Plantation Rs. '000 Rs. '000 Rs. '000 Rs. '000 Rs. '000 Rs. '000 External Revenue 428, , , , Inter Segment Revenue Segment Revenue 428, , , , Elimination of Inter Segment Revenue Net Revenue 428, , , , Segment Operating Profit /(Loss) 220,466 2,032, ,790 2,037,086 (2,324) (4,681) Finance Income Finance Cost (234,313) (64,433) (234,313) (64,433) - - Profit / (Loss) Before Tax (13,847) 1,967,972 (11,523) 1,972,653 (2,324) (4,681)

6 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER Market Value per Share The Highest, Lowest and the Last Traded prices recorded during the quarter is as follows Rs. Rs. The Highest Market Price The Lowest Market Price The Last Traded Price Accounting Policies These financial statements have been prepared in accordance with the accounting policies set out in the annual report for the year ended 31st December 2015 and are in compliance with Sri Lanka Accounting Standard (LKAS) 34, Interim Financial Reporting. 3 Event Occurring After the Balance Sheet Date No circumstances have arisen since the balance sheet date which would require adjustment to or disclosure in the interim Financial Statements, Other than those disclosures in the Annual Report for the year ended 31st December (If any) 4 Contingent Liabilities There has been no change to the contingent liabilities as disclosed in the Financial Statements for the year ended 31st December 2015.(If any) 5 Comparative Figures Comparative figures have been re-stated wherever necessary to conform to the current period's presentation. 6 Stated Capital The number of shares represented by stated capital as at 31st December 2016 is 199,881,008 7 Income Tax Expense As per the 2017 budget deferred tax calculation rate reinstated from 17.5% to 28%. 8 Investment Property Revaluation is in progress for the year ended 31st December 2016, an increase in net asset value has been estimated and an appropriate adjustment would be done to the year end financials.

7 LIST OF 20 MAJOR SHAREHOLDERS BASED ON THEIR SHAREHOLDING AS AT 31ST DECEMBER 2016 No. Name No. of Shares % 1 Mr.Ng Eng Ghee / Mrs.Ng Siew Luan. 46,900, Kalpitiya Beach Resort Limited 40,413, Urban Development Authority of Sri Lanka. 34,872, Bank of Ceylon A/C Ceybank Unit Trust 16,071, Mr.Ng Yew Tong 6,006, Mr.Ng Eng Soon. 4,945, Mr.Ng Yew Chuan 4,715, Sampath Bank Plc/Capital Trust Holdings Limited 3,866, Seylan Bank PLC/Nalaka Harshajeeva Godahewa 2,297, Mr.Kang Poay Hong(Deceased) 2,251, Mr.Ng Yew Hui 1,920, Pan Asia Banking Corporation PLC/Harshada Holdings (Pvt) Ltd. 1,913, Seylan Bank PLC/Capital Trust Holdings (Pvt) Ltd 1,778, Mr.Ng Yew Khim Dennis 1,605, Mr.K.V.Hewavitarne 1,602, Allnatt Investments (Private) Limited 1,524, Mr.Thoradeniya Tharana Gangul 1,254, Mr.W.Baptista 1,221, Mr.Teruaki Ono 1,218, Mr.Ng Eng Ghee 700, ,079, Others 22,801, Total 199,881, Directors' and Chief Executive Officer's holding in shares as at 31st December 2016 Name No. of Shares % Prof.C.K.Deheragosa Nil Nil Mr.D.S.Jayaweera 2, % Mr.P.V.S.Premawardhana Nil Nil Mr.M.D.S.Goonatilleke Nil Nil Mr.Ng Yew Tong 6,006, % Mr.Ng Yao Xing Eugene Nil Nil Mr.W.M.C.S. Welegama Nil Nil Mr.Ng Heng Chye Clement Nil Nil (Alternate Director to Mr.Ng.Yao Xing.Eugene) Mr.S.A.Ameresekere Nil Nil (Alternate Director to Mr.M.D.S.Goonatilleke) Public Holding Public Holding percentage as at 31st December Number of shareholders who hold the public holding - 2,978