Interim Financial Statement - 4th Quarter ( For the twelve months ended 2018 )
Consolidated Income Statement Quarter ended Twelve months ended 2018 2017 2018 2017 Rs. 000 Rs. 000 Rs. 000 Rs. 000 Unaudited Audited Unaudited Audited Revenue 6,330,421 5,610,637 18,250,581 16,055,386 Revenue Tax (147,389) (140,767) (481,042) (422,348) Net Revenue 6,183,032 5,469,870 17,769,539 15,633,038 Other Income (188,380) (230,963) 259,848 (98,600) Staff Costs (807,016) (744,274) (3,103,254) (2,746,929) Depreciation (424,597) (427,018) (1,702,725) (1,470,418) Amortisation (28,532) (27,785) (112,529) (112,819) Other Operating Expenses - Direct (1,105,505) (1,039,791) (3,898,583) (3,351,276) Other Operating Expenses - Indirect (1,738,656) (1,685,654) (6,198,462) (5,554,832) Profit from Operations 1,890,346 1,314,385 3,013,834 2,298,164 Finance Income 76,059 63,578 263,213 167,613 Finance Expenses (233,277) (214,151) (949,117) (745,013) Net Finance (Expenses) (157,218) (150,573) (685,904) (577,400) 1,733,128 1,163,812 2,327,930 1,720,764 Share of Profit / (loss) of equity accounted investees net of tax (7,638) (47,860) (138,039) (171,202) Profit before Tax 1,725,490 1,115,952 2,189,891 1,549,562 Income Tax Expense (281,603) (264,535) (606,496) (535,823) Profit for the period 1,443,887 851,417 1,583,395 1,013,739 Attributable to: Equity Holders of the Parent Company 996,098 618,584 1,169,314 675,873 Non - controlling interests 447,789 232,833 414,081 337,866 1,443,887 851,417 1,583,395 1,013,739 Earnings per share for the period - Rs. 2.95 1.83 3.43 1.97 (Basic / Diluted) Colombo 22nd May 2018 1
Company Income Statement Quarter ended Twelve months ended 2018 2017 2018 2017 Rs. 000 Rs. 000 Rs. 000 Rs. 000 Unaudited Audited Unaudited Audited Revenue 326,088 264,473 824,226 689,545 Revenue Tax (7,056) (5,729) (18,119) (15,089) Net Revenue 319,032 258,744 806,107 674,456 Other Income 545,659 644,441 1,007,189 853,147 Staff Costs (46,115) (38,305) (176,836) (149,189) Depreciation (15,951) (16,695) (63,223) (59,128) Amortisation (174) (60,910) (656) (60,968) Other Operating Expenses - Direct (67,529) (57,470) (222,821) (178,574) Other Operating Expenses - Indirect (86,569) (103,067) (319,450) (314,981) Profit from Operations 648,353 626,738 1,030,310 764,763 Finance Income 33,767 3,250 102,119 29,819 Finance Expenses (50,180) (48,815) (216,329) (164,221) Net Finance (Expenses) (16,413) (45,565) (114,210) (134,402) Profit before Tax 631,940 581,173 916,100 630,361 Income Tax Refund/(Expense) (8,580) 13,738 6,506 20,927 Profit for the period 623,360 594,911 922,606 651,288 Earnings per share for the period - Rs. 1.84 1.76 2.70 1.89 (Basic/Diluted) Colombo 22nd May 2018 2
Statement of Comprehensive Income GROUP Quarter ended Twelve months ended 2018 2017 2018 2017 Rs. 000 Rs. 000 Rs. 000 Rs. 000 Unaudited Audited Unaudited Audited Profit for the period 1,443,887 851,417 1,583,395 1,013,739 Other Comprehensive Income Items that will never be reclassified to profit or loss Revaluation of property, plant and equipment 53,104 207,669 53,104 207,669 Share of other comprehensive income of equity accounted investees 2,193 51,513 2,193 51,513 Actuarial gains/ (losses) on defined benefit obligations (20,900) 7,515 (20,900) 7,515 Income tax on other comprehensive income (171,474) (1,160) (171,474) (1,160) (137,077) 265,537 (137,077) 265,537 Items that are or may be reclassified to profit or Loss Foreign Currency translation differences of foreign operations 66,630 178,414 233,308 784,324 Net change in fair value of available for sale financial assets (75,745) Net movement in cash flow hedging (213,504) (960,398) (146,874) 178,414 (727,090) 708,579 Other comprehensive income for the period net of tax (283,951) 443,951 (864,167) 974,116 Total comprehensive income for the period net of tax 1,159,936 1,295,368 719,228 1,987,855 Attributable to: Equity Holders of the Parent Company 830,721 908,107 656,973 1,389,232 Non -controlling interests 329,215 387,261 62,255 598,623 1,159,936 1,295,368 719,228 1,987,855 3
Statement of Comprehensive Income Company Quarter ended Twelve months ended 2018 2017 2018 2017 Rs. 000 Rs. 000 Rs. 000 Rs. 000 Unaudited Audited Unaudited Audited Profit for the period 623,360 594,911 922,606 651,288 Other Comprehensive Income Items that will never be reclassified to profit or loss Revaluation of property, plant and equipment 80,093 60,000 80,093 60,000 Actuarial gains/ (losses) on defined benefit obligations (5,417) 6,000 (5,417) 6,000 Income tax on other comprehensive income (95,513) (720) (95,513) (720) (20,837) 65,280 (20,837) 65,280 Items that are or may be reclassified to profit or Loss Foreign currency translation differences of foreign operations Net change in fair value of available for sale financial assets Other comprehensive income for the period net of tax (20,837) 65,280 (20,837) 65,280 Total comprehensive income for the period net of tax 602,523 660,191 901,769 716,568 Attributable to: Equity Holders of the Parent Company 602,523 660,191 901,769 716,568 Non -controlling interest - - - - 602,523 660,191 901,769 716,568 4
Consolidated Statement of Financial Position Aitken Spence Hotel Holdings PLC As at 31.03.2018 31.03.2017 Rs. 000 Rs. 000 Unaudited Audited ASSETS Non Current Assets Property, plant and equipment 41,404,788 37,687,160 Leasehold properties 2,023,903 2,042,460 Prepaid operating leases 1,772,172 1,791,169 Intangible assets 416,053 404,612 Investment in equity accounted investees 1,158,581 1,294,427 Other financial assets 195,028 126,650 Deferred tax assets 143,906 157,760 47,114,431 43,504,238 Current Assets Inventories 428,537 476,821 Trade and other receivables 2,078,519 1,946,990 Amount due from ultimate holding company 1,464,164 355,663 Amount due from parent s group entities 957,535 442,096 Prepaid operating leases 533,238 704,549 Deposits and prepayments 66,203 71,557 Current tax receivable 23,233 11,077 Other financial assets 508,567 2,349,518 Cash and cash equivalents 5,418,970 2,315,478 11,478,966 8,673,749 TOTAL ASSETS 58,593,397 52,177,987 EQUITY AND LIABILITIES Equity Attributable to equity holders of the Parent Stated capital 3,554,587 3,554,587 Reserves 3,964,579 4,352,819 Retained earnings 12,252,049 11,254,420 19,771,215 19,161,826 Non Controlling Interests 8,122,788 8,270,862 Total Equity 27,894,003 27,432,688 Non Current Liabilities Interest - bearing borrowings 18,154,051 14,450,707 Government grants 143 Deferred tax liabilities 646,389 368,880 Other Liabilities 881,272 597,833 Employee benefits 195,194 177,462 19,876,906 15,595,025 Current Liabilities Trade payables 600,229 640,690 Other provisions and payables 2,950,425 2,847,517 Amount due to ultimate holding company 834,985 348,329 Amount due to parent s group entities 66,719 129,916 Interest bearing borrowings 4,320,375 3,311,162 Current tax payable 227,525 126,341 Short term bank borrowings 1,822,230 1,746,319 10,822,488 9,150,274 Total Liabilities 30,699,394 24,745,299 TOTAL EQUITY AND LIABILITIES 58,593,397 52,177,987 Net Asset value per share (Rs.) 58.30 56.49 The Chief Financial Officer certifies that the Financial Statements have been prepared in compliance with the requirement of the Companies Act No. 07 of 2007. D.H.S Jayawardena J.M.S Brito D.G.P Ekanayake Chairman Managing Director Assistant Vice President - Finance Colombo 22nd May 2018 5
Company Statement of Financial Position As at 31.03.2018 31.03.2017 Rs. 000 Rs. 000 Unaudited Audited ASSETS Non Current Assets Property, plant and equipment 1,616,249 1,541,933 Intangible assets 1,505 1,423 Investments in subsidiaries 7,534,781 7,585,526 Investment in equity accounted investees 1,094,994 1,094,994 Other financial assets 91,667 - Deferred tax assets - 24,356 10,339,196 10,248,232 Current Assets Inventories 21,240 22,836 Trade and other receivables 192,549 110,119 Amount due from ultimate holding company 531,570 - Amount due from parent s group entities 905,203 321,952 Deposits and prepayments 9,921 23,410 Current tax receivable - 3,433 Other financial assets 6,546 100,000 Cash and cash equivalents 367,291 742,323 2,034,320 1,324,073 TOTAL ASSETS 12,373,516 11,572,305 EQUITY AND LIABILITIES Equity Attributable to equity holders of the parent Stated capital 3,554,587 3,554,587 Reserves 802,232 722,139 Retained earnings 5,820,055 5,082,452 Total Equity 10,176,874 9,359,178 Non Current Liabilities Interest - bearing borrowings 667,000 933,400 Deferred tax liabilities 46,169 - Employee benefits 35,162 29,361 748,311 962,761 Current Liabilities Trade creditors 38,823 27,109 Other Provisions and payables 116,355 170,339 Amount due to ultimate holding company 276,489 207,530 Amount due to parent s group entities 717,312 660,903 Interest bearing borrowings 266,400 66,600 Current tax payable 9,108 - Short term bank borrowings 23,844 117,885 1,448,331 1,250,366 Total Liabilities 2,196,642 2,213,127 TOTAL EQUITY AND LIABILITIES 12,373,516 11,572,305 Net Asset value per share (Rs.) 29.77 27.34 The Chief Financial Officer certifies that the Financial Statements have been prepared in compliance with the requirement of the Companies Act No. 07 of 2007. D.H.S Jayawardena J.M.S Brito D.G.P Ekanayake Chairman Managing Director Assistant Vice President - Finance Colombo 22nd May 2018 6
Statement of Changes in Equity For the twelve months ended 2018 GROUP Attributable to Equity Holders of the parent Stated Reserves Foreign Available for Cashflow hedge Revaluation Retained Total Non Total Capital Currency Sale Reserve Reserve Earnings Controlling Equity Translation Reserve Interest Reserve Rs 000 Rs 000 Rs 000 Rs 000 Rs 000 Rs 000 Rs 000 Rs 000 Rs 000 Rs 000 Balance as at 01st April 2016 3,554,587 22,929 1,206,039 38,630 2,378,602 11,205,005 18,405,792 5,429,111 23,834,903 Profit for the period - - - - - - 675,873 675,873 337,866 1,013,739 Other comprehensive income - - 512,913 (38,630) - 232,336 6,740 713,359 260,757 974,116 Total Comprehensive Income - - 512,913 (38,630) - 232,336 682,613 1,389,232 598,623 1,987,855 Share of net assets of equity accounted investees - - - - - - (14,990) (14,990) - (14,990) Effect of change in percentage holding in subsidiaries - - - - - - - - (17,094) (17,094) Effect of acquisition of subsidiaries during the year - - - - - - - - 2,385,486 2,385,486 Dividends -2015/16 - - - - - - (435,213) (435,213) - (435,213) Dividends -2016/17 - - - - - - (182,995) (182,995) - (182,995) Dividends of subsidiaries to non controlling interest - - - - - - - - (125,264) (125,264) Balance as at 2017 3,554,587 22,929 1,718,952 - - 2,610,938 11,254,420 19,161,826 8,270,862 27,432,688 Profit for the period - - - - - - 1,169,314 1,169,314 414,081 1,583,395 Other comprehensive income - - 227,980 - (576,239) 19,343 (183,425) (512,341) (351,826) (864,167) Total Comprehensive Income - - 227,980 - (576,239) 19,343 985,889 656,973 62,255 719,228 Effect of change in percentage holding in subsidiaries during the year - - - - - - 160,151 160,151 (160,151) - Transfer of revaluation reserves on disposal of subsidiries - - - - - (59,324) 59,324 - - - Purchase of owned shares by subsidiary - - - - - (123,662) (123,662) (7,280) (130,942) Dividends - 2016/17 - - - - - - (84,073) (84,073) - (84,073) Dividends of subsidiaries to non controlling interest - - - - - - - - (42,898) (42,898) Balance as at 2018 3,554,587 22,929 1,946,932 - (576,239) 2,570,957 12,252,049 19,771,215 8,122,788 27,894,003 7
Statement of Changes in Equity For the twelve months ended 2018 COMPANY Stated Reserves Revaluation Retained Total Capital Reserve Earnings Rs 000 Rs 000 Rs 000 Rs 000 Rs 000 Balance as at 01st April 2016 3,554,587 22,929 639,210 5,044,092 9,260,818 Profit for the period 651,288 651,288 Other Comprehensive Income 60,000 5,280 65,280 Total Comprehensive Income 60,000 656,568 716,568 Dividends - 2015/16 (435,213) (435,213) Dividends - 2016/17 (182,995) (182,995) Balance as at 2017 3,554,587 22,929 699,210 5,082,452 9,359,178 Profit for the period 922,606 922,606 Other Comprehensive Income 80,093 (100,930) (20,837) Total Comprehensive Income 80,093 821,676 901,769 Dividends - 2016/17 (84,073) (84,073) Balance as at 2018 3,554,587 22,929 779,303 5,820,055 10,176,874 8
Cash Flow Statement GROUP COMPANY For the twelve months ended 31.03.2018 31.03.2017 31.03.2018 31.03.2017 Rs. 000 Rs. 000 Rs. 000 Rs. 000 Unaudited Audited Unaudited Audited Cash flow from operating activities Profit before taxation 2,189,891 1,549,562 916,100 630,361 Adjustments for Depreciation 1,702,725 1,470,418 63,223 59,128 Amortisation 112,529 112,819 656 191 Amortisation of government grant (143) (156) - - Provision for impairment of debtors (11,989) 5,648 1,059 351 Impairment of investments in equity accounted investees - - - 60,777 Interest expense 949,117 745,013 216,329 164,221 Interest income (263,213) (167,613) (102,119) (29,819) Loss on disposal of investments 316 - Profit/ (Loss) on sale of Property, Plant and equipment (166) 2,720 (270) 22 Gain on disposal of subsidiaries (307,616) - (409,961) - Provision for Employee Benefits 43,430 37,439 6,228 5,680 Share of (Profit)/Loss of equity accounted investees net of tax 138,039 171,202 - - Effect of movement in exchange rates 75,046 123,457 (13,714) (7,155) 4,627,966 4,050,509 677,531 883,757 Operating profit before working capital changes (Increase) / Decrease in Inventories 43,798 (173,401) 1,596 (4,203) (Increase) / Decrease in Trade and other receivables (149,512) (86,670) (81,603) 22,198 (Increase) / Decrease in Amount due from ultimate Holding Company (1,108,501) (321,840) (531,570) 14,436 (Increase) / Decrease in Amount due from Parents Group Entities (515,439) (67,806) (583,251) 37,154 (Increase) / Decrease in Deposits and Prepayments 168,860 (2,004) 13,489 (18,237) Increase / (Decrease) in Trade Creditors 29 222,978 11,714 (6,309) Increase / (Decrease) in Provisions and other Payables 102,908 141,528 (53,984) 68,549 Increase / (Decrease) in Amount due to ultimate Holding Company 486,656 192,525 68,959 183,204 Increase / (Decrease) in Amount due to parents Group Entities (63,197) 32,335 56,409 (140,435) Cash Generated/ (used in) from Operations 3,593,568 3,988,154 (420,710) 1,040,114 Interest Paid (949,117) (745,013) (216,329) (164,221) Gratuity Paid (38,850) (30,347) (5,844) (3,254) Income Tax Paid (392,361) (625,309) (5,961) (6,614) Net Cash generated /(used in) from operating activities 2,213,240 2,587,485 (648,844) 866,025 (Carried Forward to next page) 9
Cash Flow Statement GROUP COMPANY For the twelve months ended 31.03.2018 31.03.2017 31.03.2018 31.03.2017 Rs. 000 Rs. 000 Rs. 000 Rs. 000 Unaudited Audited Unaudited Audited Net Cash generated/(used in) from operating activities 2,213,240 2,587,485 (648,844) 866,025 Cash Flows from Investing Activities Investments in debt and equity securities (100,000) (57,760) (407,000) (482,540) Proceeds from debt securities 1,787-1,787 - Disposal of equity investments - - 50,000 - Purchase of owned shares by subsidiary (130,942) - - - Acquisition of Property Plant and Equipment (5,097,080) (5,131,734) (57,472) (170,272) Purchase of Intangible Assets (7,633) (10,113) (738) (1,600) Net cash inflow on divestment of subsidiary (Note A) 722,725 2,948,687 717,706 - Proceeds from disposal of investments 22,973 - - - Proceeds from sale of Property, Plant & equipment 3,928 23,216 296 - Proceeds / (Purchase) of term deposits 1,847,497 (198,255) 100,000 26,013 Interest received from deposits 274,688 146,371 100,233 (100,000) Net cash used in investing activities (2,462,057) (2,279,588) 504,812 (728,399) Cash Flows from financing activities Proceeds from long term borrowings 11,864,095 3,583,830-1,000,000 Repayment of long term borrowings (8,470,986) (2,719,576) (66,600) - Dividends paid (84,073) (618,208) (84,073) (618,208) Dividend paid to shareholders of non-controlling interest (42,898) (125,264) - - Net cash flow/(used in) from financing activities 3,266,138 120,782 (150,673) 381,792 Net Increase/(Decrease) in cash & cash equivalents 3,017,321 428,679 (294,705) 519,418 Cash & cash equivalents at the beginning of the year 579,419 140,480 638,152 105,020 Cash & cash equivalents at the end of the year 3,596,740 569,159 343,447 624,438 Analysis of cash & cash Equivalents at the end of the year Cash at Bank and in hand 4,473,848 1,386,325 367,291 172,361 Short term deposits 945,122 929,153-569,962 Bank Overdrafts (1,822,230) (1,746,319) (23,844) (117,885) Cash and cash equivalent as previously reported 3,596,740 569,159 343,447 624,438 Effect of movement in exchange rate - 10,260 13,714 Cash and cash equivalent as previously reported 3,596,740 579,419 343,447 638,152 Note A - Divestment of Investment of a Subsidiary The Company divested its investment in M.P.S Hotels (Pvt) Ltd during the year. The fair value of assets and liabilities divested are as follows: Rs. 000 Property, plant and equipment 444,877 Inventories 4,486 Trade and other receivables 18,497 Deposits and prepayments 2,451 Taxes receivable 1,655 Deferred tax (6,873) Employee benefits (9,494) Trade and other payables (40,490) Cash and cash equivalents (5,018) Total identifiable net assets 410,091 Gain on disposal of subsidiary 307,616 Cash and cash equivalents divested 5,018 Net cash inflow on divestment of subsidiary 722,725 10
Notes to the Interim Financial Statements Aitken Spence Hotel Holdings PLC 1 Segmental Results 1.1 Revenue GROUP External Intra Group Total Total For the twelve months ended 2018 2017 Rs. 000 Rs. 000 Rs. 000 Rs. 000 Unaudited Audited Sri Lanka Sector Resorts and Hotels 6,023,130 8,309 6,031,439 5,058,259 Others 48,235 472,757 520,992 456,316 Total Sri Lanka Sector 6,071,365 481,066 6,552,431 5,514,575 South Asian and Middle East Sector 12,179,216 145,794 12,325,010 11,098,705 Intra Group 18,250,581 626,860 18,877,441 16,613,280 (626,860) (557,894) Total 18,250,581 16,055,386 1.2 Profit/(Loss) before taxation GROUP For the twelve months ended 2018 2017 Rs. 000 Rs. 000 Unaudited Audited Sri Lanka Sector Resorts and Hotels 822,053 293,724 Others 130,332 85,411 952,385 379,135 Share of results of equity accounted investees (138,039) (171,202) Total Sri Lanka Sector 814,346 207,933 South Asian and Middle East Sector 1,375,545 1,341,629 Total 2,189,891 1,549,562 1.3 Total Assets GROUP For the twelve months ended 2018 2017 Rs. 000 Rs. 000 Sri Lanka Sector Unaudited Audited Resorts and Hotels 25,858,011 23,337,193 Others 345,231 710,751 26,203,242 24,047,944 Share of assets of equity accounted investees 1,137,106 1,272,952 Total Sri Lanka Sector 27,340,348 25,320,896 South Asian and Middle East Sector 31,253,049 26,857,091 Total 58,593,397 52,177,987 11
Notes to the Interim Financial Statements 2 The Financial statements of the Company and those consolidated with such for the interim period have been prepared on the same accounting policies and methods of computations as in the most recent audited financial statements and are in compliance with LKAS 34-Interim Financial Reporting. 3 The accounting policies have been consistently applied by the Group and are consistent with those used in the previous year. The presentation and classification of the financial statements of the previous year have been amended where relevant to be comparable with those of the current year. 4 The company paid a final ordinary dividend of cts. 25 per share for the year ended 2017 on 11th July 2018 after it was approved by the board. Total interim ordinay dividend payment amounted to Rs. 84,072,503/-. The board resolved to recommend the payment of a final ordinary dividend of Rs. 1.25 per share for the year ended 2018 once approved by the shareholders at the Annual General Meeting. Other than the above there were no material events subsequant to the end of the reporting date which require disclosure in the interim financial statements. 5 Cash flow hedging During the period under review Ahungalla Resorts Ltd., a group company designated its identified foreign currency loan as the hedging instrument in order to hedge against the company exposure to the changes in foreign exchange rates on the variable cash flows from the highly probable future foreign currency revenue. Consequently the effective portion of gain or loss on the hedging instrument will be recognised in the cash flow hedge reserve, through other comprehensive income while any ineffective portion will be recognised immediately in the statement of profit or loss. 6 The Company divested its entire holding in its fully owned subsidiary M.P.S Hotels (Pvt) Ltd on 21/9/2017. The resultant gain on disposal of this subsidiary is reflected under other income. 7 Tax Expense The Inland Revenue Act, No 24 of 2017 which was certified on the 24th of October 2017 will be effective from 1st April 2018. The deferred tax asset/ liability of the Company and the Group for 2017/2018 is accounted based on the income tax rates that would be applicable as per the above Act. The income tax provisions for the period ending 2018 were made based on the rates applicable for the year of assessment 2017/2018. 8 Six months of the period under review relates to the off season of the tourism industry both in Sri Lanka and overseas, the group operates. 9 Contingent liability as at 2018 on guarantees given by Aitken Spence Hotel Holdings PLC to third parties on facilities obtained by subsidiaries amounted to Rs. 13,733,032,000/-. 10 There was no liability to management fees or any other similar expenditure not provided for in the interim financial statements. Investor Information 1 Share Information For the Quarter Ended 31.03.2018 31.03.2017 Market Price per Share - Highest 35.00 44.40 - Lowest 28.00 34.00 - Last Traded Price (Rs.) 33.50 35.20 Dividend per ordinary share (Rs.) - 0.75 Number of shares represented by the stated capital - Ordinary 336,290,010 336,290,010 - Preference 16,500,000 16,500,000 2 Percentage of shares held by the public as at 2018 is 25.40%. Number of public shareholders as at 2018 was 3,400. 3. The float adjusted market capitalisation as at 2018 was Rs. 2,861,660,680.82 with reference to the rule no.7.6 (iv) of the listing rules of the Colombo stock exchange. As the float adjusted market capitalisation is over 2.5 Bn, Aitken Spence Hotel Holdings PLC complies under option 3 with the minimum public holding requirement. 12
4 Shares held by the Directors are as follows: Name of the Director Position No of Shares No of Shares 31.03.2018 31.03.2017 Deshamanya D.H.S. Jayawardena Chairman - - J.M.S. Brito Managing Director 314,346 278,023 D.S.T. Jayawardena Director 16,000 16,000 C.M.S. Jayawickrama Director - - G.P.J. Goonewardena (retired on 30.06.2017 and appointed w.e.f 30.03.2018) Director 5,460 5,460 R.N. Asirwatham Director 1,000 1,000 C.H. Gomez Director - - N.J. de S. Deva Aditya Director - - 336,806 300,483 5 Twenty Largest Shareholders as at 2018 Name of the Share Holder No of Shares % Aitken Spence PLC - A/C No. 1 239,472,667 71.21% Employees Provident Fund 31,501,601 9.37% Sri Lanka Insurance Corporation Ltd. - Life Fund 5,518,727 1.64% Ace Cargo (Pvt) Ltd 4,423,601 1.32% Aitken Spence Hotel Managements (Pvt) Ltd 3,530,639 1.05% Aitken Spence Aviation (Pvt) Ltd. 2,604,140 0.77% Bank of Ceylon No 01 Account 2,547,422 0.76% Employees Trust Fund Board 2,370,705 0.70% The Ceylon Guardian Investments Trust PLC A/C # 02 2,245,982 0.67% National Savings Bank 2,102,133 0.63% G.C. Wickremasinghe 2,082,241 0.62% J B Cocoshell (Pvt) Ltd 1,913,304 0.57% Ceylon Investments PLC # 02 1,283,675 0.38% A.T. Wickramasinghe 1,245,004 0.37% Bank of Ceylon A/C Ceybank Century Growth Fund 1,046,542 0.31% M.J. Fernando 1,000,000 0.30% K Fernando 991,149 0.29% Ceylon Investments PLC # 01 985,900 0.29% Phoenix Ventures Private Ltd 831,390 0.25% Rubber Investment Trust Ltd A/C # 01 826,548 0.25% 308,523,370 91.74% 13
Corporate Information as at 31.03.2018 Directors Deshamanya D.H.S. Jayawardena (Chairman) J.M.S. Brito LLB, FCA, MBA (Managing Director) Ms. D.S.T. Jayawardena C.M.S. Jayawickrama FCMA G.P.J. Goonewardena - (retired on 30.06.2017 and appointed w.e.f 30.03.2018) R.N. Asirwatham FCA C.H. Gomez N.J. de Silva Deva Aditya DL, FRSA, MEP Legal Form A public quoted Company with limited liability Incorporated in Sri Lanka on 14th March 1978 Company registration No. PQ 97 Secretaries Aitken Spence Corporate Finance (Pvt) Ltd No 315, Vauxhall Street Colombo 02 Sri Lanka Tel: (9411) 2308308 Fax: (9411) 2308099 Registrars P.W Corporate Secretarial (Pvt) Ltd 3/17, Kynsey Road, Colombo 8 Tel: (9411)464360-3 Fax: (9411) 474058 Registered Address No 315, Vauxhall Street Colombo 02 Sri Lanka Tel: (9411) 2308308 14