LANKA ALUMINIUM INDUSTRIES PLC INCOME STATEMENT Company Group FOR THE THREE MONTHS ENDED Variance Variance

Transcription

1 INCOME STATEMENT Company Group FOR THE THREE MONTHS ENDED Variance Variance Rs.000's Rs.000's Rs.000's Rs.000's Rs.000's Rs.000's Revenue 158, ,366 31, , , ,276 Cost of Sales -126, ,808-22, , , ,709 Gross Profit 31,031 21,558 9,473 44,539 42,106 2,433 Other operating income Administration & General Expenses -26,047-23,972-2,075-38,327-34,513-3,814 Marketing Expenses -3,078-2, ,412-2,360-1,052 Profit from operation 2,056-4,432 6,488 3,168 6,084-2,916 Finance Income 1,793 2, ,471 2,495-1,024 Finance Expenses -6,629-3,741-2,888-9,458-14,210 4,753 Net Finance Expenses -4,836-1,246-3,590-7,987-11,715 3,729 Profit before taxation -2,780-5,678 2,898-4,819-5, Income tax expense -1,126-1,126-1, ,024 Profit/(loss) for the period -3,906-5,678 1,772-6,788-6, Attributable to : -Equity holders of the company -3,906-5,678 1,772-5,430-5, Minority Interests -1, ,906-5,678 1,772-6,788-6, Basic Earnings per share Market price per share Highest Rs Lowest Rs Closing value as at 30th June Rs The accounting policies and methods of computation are followed as compared with the annual financial statements. The above figures are provisional and unaudited. The Company paid a dividend of Rs.1.25 per ordinary share amounting to Rs.17.1 million in October 2010, on the profits made during the financial year ended There has not been a significant change in the nature of the Contingent Liabilities which were disclosed in the Annual Report for the year ended March 31, No circumstances have arisen since the Balance Sheet date,which would require adjustments to or disclosure in the financial statements. Dinal Peiris R.Seevaratnam Date: Managing Director Director

2 Statement of Changes in Equity-Company FOR THE THREE MONTHS ENDED Stated Advance Revalu- Capital Against ation Retained Stated Reserve Earnings Capital Total Rs 000's Rs 000's Rs 000's Rs 000's Rs 000's Balance as at 1st April , , , ,922 Net profit for the 3 months ended ,906-3,906 Dividends paid 0 Balance as at 30th June , , , ,016 FOR THE THREE MONTHS ENDED Balance as at 1st April , , , ,977 Net profit for the 3 months ended ,678-5,678 Dividends paid 0 Balance as at 30th June , , , ,299 Statement of Changes in Equity -Group Stated Advance Revalu- Capital Against ation Retained Stated Reserve Earnings Minority Capital Total Interest Equity Rs 000's Rs 000's Rs 000's Rs 000's Rs 000's Rs 000's Rs 000's FOR THE THREE MONTHS ENDED Balance as at 1st April , , , ,687 30, ,724 Part Settlement of Stated Capital 0 Net profit for the 3 months ended ,430-5,430-1,358-6,788 Dividends paid Balance as at 30th June , , , ,258 28, ,937 FOR THE THREE MONTHS ENDED Balance as at 1st April , , , ,511 23, ,684 Part Settlement of Stated Capital 0 Net profit for the 3 months ended ,822-5, ,576 Dividends paid 0 0 Net increase in Minority Shareholder's interest 0 Balance as at 30th June , , , ,689 22, ,108 Segment Information Sales analysis Profit analysis FOR THE THREE MONTHS ENDED Rs 000's Rs 000's Rs 000's Rs 000's Extrusions 158, ,366-2,780-5,678 Imported Extrusions 12,319 31,104 2,143 1,961 Fabrication -1,594 Billets 3,602 2, Tea 232, ,618-2,735-2, , ,961-4,193-5,631 Inter Group Transactions -4, , ,961-4,819-5,631

3 COMPANY GROUP BALANCE SHEET AS AT 30th June 31st March 30th June 31st March 2,011 2,011 2,011 2,011 Rs.000's Rs.000's Rs.000's Rs.000's ASSETS Non Current Assets Property,Plant & Equipment 209, , , ,194 Capital work -in-progress 2, , Investments in Subsidiaries 42,475 42,475 Other Investments 36,062 36,062 36,062 36,062 Goodwill Deferred Tax asset Total Non Current Assets 290, , , ,773 Inventories 187, , , ,052 Trade & Other Receivables 138, , , ,313 Amount due from Related Parties 42,233 18,447 2,662 3,103 Tax/ ESC Receivables ,268 0 Cash & Cash Equivalents 81,123 79, , ,365 Total Current Assets 450, , , ,833 Total Assets 741, ,701 1,201,550 1,213,606 EQUITY AND LIABILITIES Equity Stated Capital- 13,702,823 Ordinary Shares 137, , , ,028 Advances against Stated Capital Revaluation Reserves 120, , , ,256 Retained Earnings 103, , , ,002 Total Equity attributable to Equity Holders of the Co. 361, , , ,687 Minority Interest ,679 30,037 Total Equity 361, , , ,724 Non Current Liabilities Deferred Tax 7,974 8,124 11,354 9,584 Retirement Benefit Obligation 29,728 29,463 34,327 33,032 Total Non Current Liabilities 37,702 37,587 45,681 42,616 Current Liabilities Trade & other Payables 32,701 27,288 65,472 96,691 Current Taxation 3,443 3,772 12,687 Amounts due to Related Parties 2,516 1, ,236 Short Term Borrowings 212, , , ,171 Bank Overdraft 95,029 78, ,449 87,481 Total Current Liabilities 342, , , ,266 Total Liabilities 380, , , ,882 Total Equity & Liabilities 741, ,701 1,201,550 1,213,606 Net Assets per Ordinary Share The above figures are provisional and unaudited. Dinal Peiris R.Seevaratnam Date: Managing Director Director

4 CASH FLOW STATEMENT Company Group FOR THE THREE MONTHS ENDED ,011 2,010 2,011 2,010 Rs.000's Rs.000's Rs.000's Rs.000's Cash Flow from Operating Activities Profit before Taxation -2,780-5,678-4,819-5,631 Adjustments For :- Depreciation 6,003 5,390 6,300 5,667 Provision for gratuity 1, , Profit on Disposal of Property,Plant & Equipment 0 0 Write off of Property,Plant & Equipment Dividend income Interest income -1,793-2,495-1,471-2,495 Interest Expense 6,629 3,741 9,458 14,210 Operating Profit before working capital changes 9,478 1,601 11,031 12,537 (Increase)/Decrease in Inventories -49,527-13, ,717 24,004 (Increase)/Decrease in Trade & Other Receivables 17,144-6, ,460 18,417 (Increase)/Decrease in Inter Company Receivables -23,786-25, Increase/(Decrease) in Trade & other Payables 5,413 7,270-31,219 1,899 Increase/(Decrease) in Inter Company Payables , Cash generated from/(used in) operations -40,545-35,778-14,911 56,434 Tax paid -5,798-3,927-7,019-4,183 Interest paid -6,629-3,741-9,458-14,210 Gratuity Paid -1,111-1,111 0 Net cash from/ (used in) operating activities -54,083-43,446-32,499 38,041 Cash Flow from Investing Activities Purchase of property,plant & equipment -4,519-6,302-4,746-6,594 Reduction / (addition) to Capital work in progress -1,269-1,269 Dividend received 0 Interest Income 1,793 2,495 1,471 2,495 Investment in Quoted shares 0 Proceeds from disposal of property,plant & equipment 0 Net cash from / (used) in investing activities -3,995-3,807-4,544-4,099 Cash Flow from Financing Activities Dividend paid Short term loan obtained 221, , , ,267 Repayment of Short term loans -177,639-87, , ,833 Net increase in Minority Shareholder's interest Net cash from / ( used in) Financing Activities 43,861 45,530 16,735-21,566 Net Increase/(Decrease) in Cash & Cash equivalent -14,217-1,723-20,308 12,376 Cash & Cash equivalent at the beginning of the period ,399 46,384 26,594 Cash & Cash equivalent at the end of the period -13,906 12,676 26,076 38,970 Cash in hand & at bank 81,123 73, , ,092 Bank overdraft -95,029-60, ,449-77,122 Cash & Cash equivalent at the end of the period -13,906 12,676 26,076 38,

5 TWENTY (20) MAJOR SHAREHOLDERS AS AT 30TH JUNE 2011 NUMBER PERCEN- NO. OF SHARES TAGE 1 CLOVIS COMPANY LIMITED 6,863, MR. K. D. D. PERERA 3,989, DR. A. C. VISVALINGAM / MRS.V.I.VISVALINGAM 241, DR. H. S.D. SOYSA 138, MRS. L.J. WEERASINGHE 125, MRS. P. N. BHATT 78, MR. H.G.CARIMJEE 68, MR. Y. ESMAILJEE 50, PAN ASIA BANKING CORPORATION PLC MR. S.A.GULAMHUSEIN 45, MR. U.D. RAJAPAKSE 43, MR.T.M.L.IMTIAZ 34, MRS. S.HUSSAINSA 31, MR.U.W.J.P.A.SUMATHIPALA 30, MR. H. ESMAILJEE 28, MR.M.H.M.NAZEER 25, MR.R.R.S.ANANDA 25, ASSOCIATED ELECTRICALS CORPORATION LTD. 24, MR.D.S.PATHMASIRI/MRS.M.N.KEEMBIYAPATHIRANA 22, DR. R. S. DERANIYAGALA 22, MR.D.M.P. DE ZOYSA 19, PERCENTAGE OF SHARES HELD BY THE PUBLIC THE DIRECTORS DO NOT HOLD ANY SHARES