Provisional financial statements

Transcription

1 CARGILLS (CEYLON) PLC Provisional financial statements Three months ended 30 June A Member of the Ceylon Theatres

2 Cargills (Ceylon) PLC Provisional financial statements Income statement For the quarter ended 30 June Variance Variance 7,334,254 5,417,189 1,917,065 4,069,262 2,842,709 1,226,553 Cost of sales (6,714,064) (5,026,142) (1,687,922) (3,877,569) (2,686,146) (1,191,423) Gross profit 620, , , , ,563 35,130 Other income 127, ,055 18,998 77,570 62,834 14,736 Revenue Distribution costs (129,295) (98,680) (30,615) (24,444) (17,960) (6,484) Administrative expenses (293,413) (152,309) (141,104) (140,772) (104,978) (35,794) Other expenses (43,404) (20,719) (22,685) (7,219) (2,620) (4,599) (101,813) (88,845) (12,968) (43,698) (46,213) 2,515 Profit before taxation 179, ,549 40,769 53,130 47,626 5,504 Income tax expense (44,360) (26,739) (17,621) (3,106) (16,251) 13,145 Profit for the period 134, ,810 23,148 18, , ,146 17,623 18,649 16,189 10,664 5, , ,810 23,148 18, Finance costs Attributable to: Equity shareholders of the parent Minority interest Earnings per share (Rs.) As per the 5,600,000 shares in issue as at 30 June As per the 224,000,000 shares in issue as at 30 June Dividend per share (Rs.) Explanatory notes are given on page 5 2

3 Cargills (Ceylon) PLC Provisional financial statements Balance sheet (Audited) As at (Audited) 30 June 31 March 30 June 31 March 4,572,727 56,460 23,709 4,698,437 4,583,244 58,307 25,002 4,712,094 2,697, ,446 3,278,415 2,641, ,446 3,222,327 Total assets 2,010,825 1,120, ,093 5, ,332 3,584,791 8,283,228 2,579, , ,930 5, ,208 3,691,222 8,403,316 1,054, , ,769 5, ,081 2,305,341 5,583,756 1,380, , ,439 5,430 87,846 2,574,577 5,796,904 EQUITY AND LIABILITIES Equity attributable to equity holders of the company Stated capital Reserves Accumulated profits Shareholders' funds Minority interest Total equity 662, ,131 1,615, ,184 1,988, , ,539 1,541, ,818 1,895, , ,482 1,231,705 1,231, , ,458 1,223,681 1,223, , , , , , , , ,923 87, ,416 91, , , ,780 76, ,636 3,053,860 43, ,052 11,652 2,236,915 5,445,831 6,294,762 8,283,228 3,606,511 83, ,039 6,734 1,815,044 5,612,885 6,507,808 8,403,316 2,491,674 13, ,652 11,652 1,341,059 3,989,152 4,352,051 5,583,756 3,128,906 65, ,511 6, ,242 4,203,587 4,573,223 5,796, ASSETS Non current assets Property, plant and equipment Intangible assets Investments in subsidiaries Other investments Deferred taxation Current assets Inventories Trade and other receivables Amounts due from related companies Short term investments Cash and bank balances Non current liabilities Borrowings Deferred taxation Retirement benefit obiligations Current liabilities Trade and other payables Income tax payable Amounts due to other related company Dividend payable Borrowings Total current liabilities Total liabilities Total equity and liabilities Net asset value per share (Rs.) As per the 5,600,000 shares in issue as at 31 March As per the 224,000,000 shares in issue as at 30 March Explanatory notes are given on page 5. I certify that these provisional financial statement have been prepared in accordance with the requirement of the Companies Act No. 7 of Signed S L W Dissanayake ( Financial Controller) The Board of Directors is responsible for the preparation and presentation of these financial statements. These financial statements have been approved by the Board of Directors on 19 August. Signed for and on behalf of the Board of Directors V R Page ( Deputy Chairman / Managing Director ) P S Mathavan ( Executive Director Finance ) Colombo 3

4 Cargills (Ceylon) PLC Provisional financial statements Cashflow statement For the quarter ended 30 June Profit before taxation Adjustments for : Depreciation/amortisation Provision for gratuity Amortisation of intangible assets Profit on disposal of property, plant and equipment Provision for inventories Net finance cost Dividend income 179, ,549 53,130 47, ,692 25,532 1,847 (485) 1, , ,708 10,984 1,483 (20) 1,795 88,845 (450) 69,480 24,334 1,580 43,698 43,614 9,476 (20) 1,795 46,213 (450) Operating profit before working capital changes 468, , , ,254 Decrease in inventories Increase in trade and other receivables (Increase)/decrease in related company receivables Decrease in trade and other payables (Decrease)/increase in related company payables 566,655 (352,512) (107,161) (625,294) (990) 356,190 (16,143) 408 (428,742) (21,359) 323,535 (155,315) 154,670 (686,779) (23,861) 260,327 (49,670) 115,466 (408,950) 49,177 Cash generated from operations Tax paid Interest paid Gratuity paid Net cash (used in)/generated from operating activities (51,005) (26,576) (102,165) (9,207) (188,953) 270,248 (19,552) (88,845) (1,438) 160,413 (195,528) (15,000) (59,724) (9,207) (279,459) 114,604 (12,735) (54,872) (1,438) 45,559 CASH FLOWS FROM INVESTING ACTIVITIES Additions to property, plant and equipment Proceeds from disposal of property, plant and equipment Interest income Dividend received Net cash used in investing activities (151,453) 3, (147,343) (76,013) (75,543) (125,568) 16,026 (109,542) (15,796) 20 8, (6,667) 229,014 (53,900) (37,082) 138,032 8,118 (42,120) (27,698) (61,700) 379,014 (12,500) (37,082) 329,432 8,118 (27,698) (19,580) Net (decrease)/increase in cash and cash equivalents Cash and cash equivalents at the beginning of the period Cash and cash equivalents at the end of the period (198,264) (1,085,486) (1,283,750) 23,170 (758,659) (735,489) (59,570) (539,396) (598,965) 19,312 (654,482) (635,170) Analysis of cash and cash equivalents Cash and bank balances Bank overdraft 216,332 (1,500,082) (1,283,750) 214,543 (950,032) (735,489) 143,081 (742,046) (598,965) 124,993 (760,163) (635,170) CASH FLOWS FROM OPERATING ACTIVITIES CASH FLOWS FROM FINANCING ACTIVITIES Temporary borrowings receipts/(repayment) net Repayment of long term loans Dividends paid Net cash generated/(used in) from financing activities Explanatory notes are given on page 5 4

5 Cargills (Ceylon) PLC Provisional financial statements Statement of changes in equity Attributable to equity holders of parent Stated capital Capital reserve Revaluation reserve General Accumulated reserve profits Total Minority interest Balance as at 1 April Net profit for the year Adjustment for debit balance in minority Dividend Balance as at 30 June 491, ,146 (4,952) 559,655 1,284, ,146 (4,952) 1,352, ,731 1,468,343 10, ,810 4, ,347 1,552,153 Balance as at 1 April Net profit for the year Adjustment for debit balance in minority Dividend Balance as at 30 June 748, ,769 (3,177) 822,131 1,541, ,769 (3,177) 1,615, ,818 1,895,508 16, ,958 3, ,184 1,988,466 Total equity Balance as at 1 April Net profit for the period Dividends Balance as at 30 June 383, ,627 1,168,475 1,171,850 Balance as at 1 April Net profit for the year Dividends Balance as at 30 June 438, ,482 1,223,681 1,231,705 Explanatory notes 1. The results for the quarter ended 30 June and the balance sheet as at 30 June are provisional and subject to audit. 2. The same accounting policies are followed as in the annual report for the year ended 31 March. 3. Where appropriate, the previous years presentation has been amended to conform to the current classification. 4. The Board of Directors have proposed a final dividend of 20 Cents per share (on the 224,000,000 shares now in issue) of the for the year ended 31 March which is to be approved by the shareholders at the Annual General Meeting on 19 September. No event other than above have occurred since the balance sheet date which would require any adjustments to, or disclosure in the financial statements. 5. There are no material contingent liabilities as at the balance sheet date. 6. A sub division of each existing issued and fully paid ordinary share of Cargills (Ceylon) PLC into 40 shares was given effect on 25 April. Accordingly, the number of issued and fully paid ordinary shares was increased from 5,600,000 to 224,000,000 cosequent to the sub division. The market prices per share (Lowest & Last traded prices) were stated after the above sub division. However, the Highest share price during the quarter was stated prior to the sub division. The market price per share recorded during the 3 months ended 30 June Rs Rs Variance Rs , Lowest Last traded price Highest Restated to reflect position after sub division 5

6 PRINTED MATTER If undelivered, please return to : CARGILLS (CEYLON) PLC 40, York Street, Colombo 1, Sri Lanka CARGILLS (CEYLON) PLC 40, York Street, Colombo 1 Tel: Fax: Designed & Printed by KALAMAZOO SYSTEMS LIMITED