CIC HOLDINGS PLC QUARTERLY REPORT 30.06.2022

Corporate Information

NAME OF THE COMPANY

CIC Holdings PLC

COMPANY REGISTRATION NO.

PQ 88

LEGAL FORM

A Public Quoted Company with limited liability incorporated in Sri Lanka in 1964.

DIRECTORS

  1. H Amarasekera- Chairman R S Captain
    S M Enderby J R Gunaratne
    M P Jayawardena D T S H Mudalige P R Saldin

SECRETARY

P W Corporate Secretarial (Pvt) Ltd

3/17, Kynsey Road,

Colombo 08.

T.P 011 4640360

AUDITORS

KPMG

Chartered Accountants

32A, Sir Mohamed Macan Markar Mawatha

Colombo 03.

LEGAL ADVISERS

Julius & Creasy

Attorneys - at - Law

371, R A De Mel Mawatha, Colombo 03

Heritage Partners

Attorneys - at - Law

04, Malasekera Pedesa,

Colombo 07.

Nithya Partners

Attorneys - at -Law

97A, Galle Road, Colombo 03.

REGISTERED OFFICE

"CIC House"

199, Kew Road

Colombo 02.

CIC Holdings PLC 01

Statements of Comprehensive Income

Company

Variance

Group

Variance

%

%

30th June

2022

2021

2022

2021

(In Rs.Mns)

Revenue

3,259.41

2,485.28

31.15

15,310.61

9,049.61

69.19

Cost of sales

(1,893.55)

(1,812.43)

4.48

(8,505.03)

(6,751.40)

25.97

Gross profit

1,365.86

672.85

103.00

6,805.58

2,298.21

196.13

Other income

139.47

206.60

(32.49)

129.97

67.48

92.61

Distribution expenses

(335.55)

(276.64)

21.29

(847.41)

(659.44)

28.50

Impairment loss on trade receivables

7.19

18.04

(60.14)

(45.49)

0.23

(19,878.26)

Administrative expenses

(135.93)

(92.83)

46.43

(580.29)

(419.14)

38.45

Other expenses

-

-

-

(0.15)

(0.04)

275.00

Finance income

17.52

11.77

48.85

89.47

53.09

68.53

Finance cost

(286.44)

(46.55)

515.34

(1,993.26)

(165.33)

1,105.63

Financing costs (net)

(268.92)

(34.78)

673.20

(1,903.79)

(112.24)

1,596.18

Share of profit of equity accounted investees

-

-

-

107.07

45.82

133.68

Profit before tax

772.12

493.24

56.54

3,665.49

1,220.88

200.23

Tax expense

(200.85)

(110.93)

81.06

(891.79)

(308.99)

188.61

Profit from continuing operation

571.27

382.31

49.43

2,773.70

911.89

204.17

Discontinued operations

Loss from discontinued operations (net of tax)

(0.02)

(0.13)

(84.62)

(83.38)

(15.11)

451.82

Profit for the year

571.25

382.18

49.47

2,690.32

896.78

200.00

Other comprehensive income

Items that are or may be reclassified to profit or loss

Net losses on fair value change in financial assets

(209.55)

(21.09)

893.60

(542.65)

(134.30)

304.06

Other comprehensive income for the period (net of tax)

(209.55)

(21.09)

893.60

(542.65)

(134.30)

304.06

Total comprehensive income for the period (net of tax)

361.70

361.09

0.17

2,147.67

762.48

181.67

Profit attributable to :

Equity holders of the company

571.25

382.18

49.47

2,116.85

736.00

187.62

Non controlling interests

-

-

-

573.47

160.78

256.68

571.25

382.18

49.47

2,690.32

896.78

200.00

The other comprehensive income attributable to :

Equity holders of the company

(209.55)

(21.09)

893.60

(384.95)

(80.85)

376.13

Non controlling interest

-

-

(157.70)

(53.45)

195.04

(209.55)

(21.09)

893.60

(542.65)

(134.30)

304.06

Earnings per share

Basic/diluted earnings per share (Rs.)

1.51

1.01

49.47

5.58

1.94

187.62

Earnings per share continuing operation

Basic/diluted earnings per share (Rs.)

1.51

1.01

49.43

5.71

1.96

191.11

The above figures are provisional and unaudited

Figures in brackets indicate deductions

CIC Holdings PLC 02

Statements of Financial Position

Company

Group

30th June

30th June

31st March

30th June

30th June

31st March

As at

2022

2021

2022

2022

2021

2022

(In Rs.Mns)

ASSETS

Non- current assets

Property, plant & equipment

2,346.42

2,046.99

2,372.77

12,307.90

11,844.82

12,376.40

Investment property

-

-

-

2.40

2.40

2.40

Capital work-in-progress

-

-

-

91.67

21.76

107.95

Biological assets

-

-

-

329.54

246.26

311.61

Intangible assets

43.16

50.60

45.02

366.86

384.10

373.18

Deferred tax assets

-

-

-

10.85

21.42

10.85

Right of use asset

62.59

68.11

63.97

375.12

200.90

373.37

Investment in subsidiaries

1,809.14

1,619.54

1,619.54

-

-

-

Investment in equity accounted investees

36.00

36.00

36.00

1,206.08

1,044.76

1,185.41

Equity investment at fair value through OCI

1,266.60

232.10

1,228.13

1,273.67

239.92

1,236.50

Deposits with bank

-

-

378.16

-

316.19

5,563.91

4,053.34

5,365.43

16,342.25

14,006.34

16,293.86

Current assets

Inventories

2,500.37

2,119.55

1,967.11

12,003.32

7,534.38

9,542.02

Biological assets

-

-

-

310.67

103.08

266.97

Income tax receivables

-

-

0.29

76.55

0.30

Trade receivables

2,878.82

2,368.44

2,588.21

5,209.33

4,639.78

4,739.00

Contract assets

70.54

54.61

70.54

91.20

82.56

101.06

Other receivables

1,938.88

260.54

758.18

8,870.92

7,480.92

7,614.67

Equity investment at fair value through OCI

17.83

27.50

23.55

1,663.50

1,827.65

1,996.81

Deposits with bank

1,585.31

740.10

1,290.92

1,708.26

1,143.72

1,812.18

Cash in hand and at bank

131.11

293.92

374.68

1,936.97

1,559.35

2,277.00

9,122.86

5,864.66

7,073.19

31,794.46

24,447.99

28,350.01

Assets classified as held for sale

1,050.06

1,050.06

1,050.06

1,435.11

2,083.11

1,434.34

Assets classified as held for distribution

0.20

0.20

0.20

58.72

35.82

48.96

10,173.12

6,914.92

8,123.45

33,288.29

26,566.92

29,833.31

Total assets

15,737.03

10,968.26

13,488.88

49,630.54

40,573.26

46,127.17

EQUITY AND LIABILITIES

Equity attributable to equity holders of the company

Stated capital

1,008.45

1,008.45

1,008.45

1,008.45

1,008.45

1,008.45

Capital reserves

1,792.67

1,682.72

1,792.67

3,368.50

2,818.35

3,368.50

Revenue reserves

3,594.15

2,634.09

3,232.45

13,733.21

10,052.65

12,133.71

6,395.27

5,325.26

6,033.57

18,110.16

13,879.45

16,510.66

Non-controlling interests

-

-

-

3,962.01

3,148.52

3,603.44

Total equity

6,395.27

5,325.26

6,033.57

22,072.17

17,027.97

20,114.10

Non-current liabilities

Loans and borrowings

77.97

79.69

75.96

327.88

317.65

338.07

Retirement benefit obligations

163.73

170.39

155.62

852.71

801.67

820.07

Grants

-

-

-

7.10

7.68

7.24

Deferred tax liabilities

411.25

334.34

407.85

1,544.95

1,392.76

1,530.37

652.95

584.42

639.43

2,732.64

2,519.76

2,695.75

Current liabilities

Trade payables

1,366.49

1,071.41

2,457.43

5,304.37

6,143.51

9,335.56

Contract liabilities

96.15

75.93

96.14

127.41

93.51

156.29

Income tax payable

266.21

141.70

198.05

986.52

337.72

418.05

Accruals and other payables

585.63

540.71

719.50

2,107.47

1,847.84

1,891.44

Loans and borrowings

6,374.33

3,228.83

3,344.76

15,640.64

11,433.68

10,951.44

8,688.81

5,058.58

6,815.88

24,166.41

19,856.26

22,752.78

Liabilities classified as held for sale

-

-

-

657.43

1,166.11

562.67

Liabilities classified as held for distribution

-

-

-

1.89

3.16

1.87

8,688.81

5,058.58

6,815.88

24,825.73

21,025.53

23,317.32

Total liabilities

9,341.76

5,643.00

7,455.31

27,558.37

23,545.29

26,013.07

Total equity and liabilities

15,737.03

10,968.26

13,488.88

49,630.54

40,573.26

46,127.17

Net assets per share

16.87

14.05

15.92

47.77

36.61

43.55

The above figures are provisional and unaudited.

I certify that the Financial Statements have been prepared in accordance with the requirements of the Companies Act No.07 of 2007.

(Sgd. ) Erandi Wickramaarachchi

Group Chief Financial Officer

The Board of Directors is responsible for the preparation and presentation of these Financial Statements.

(Sgd.) S H Amarasekera

(Sgd.) P R Saldin

Chairman

Director

22nd July 2022

Colombo

CIC Holdings PLC 03

Statement of Changes In Equity

For the period ended 30 June

Company

Stated Capital

Revaluation

General

Fair Value

Retained

Total

Reserve

Reserves

Reserve

Earnings

(In Rs. Mns)

As at 01 April 2022

1,008.45

1,792.67

782.60

(119.04)

2,568.89

6,033.57

Profit for the period

-

-

-

-

571.25

571.25

Other comprehensive income

-

-

-

(209.55)

-

(209.55)

As at 30 June 2022

1,008.450

1,792.670

782.600

(328.590)

3,140.140

6,395.27

As at 01 April 2021

1,008.45

1,682.72

782.60

(36.77)

1,527.17

4,964.17

Profit for the period

-

-

-

-

382.18

382.18

Other comprehensive income

-

-

-

(21.09)

-

(21.09)

As at 30 June 2021

1,008.45

1,682.72

782.60

(57.86)

1,909.35

5,325.26

Group

Attributable to the equity holders of the company

Non-

Stated Capital

Capital Reserve

General Reserve

Fair Value

Retained

Total

controlling

Total Equity

Reserve

Earnings

interest

(In Rs. Mn's)

As at 01 April 2022

1,008.45

3,368.50

720.31

(223.86)

11,637.26

16,510.66

3,603.44

20,114.10

Profit for the period

-

-

-

-

2,116.85

2,116.85

573.47

2,690.32

Other comprehensive income

-

-

-

(384.95)

-

(384.95)

(157.70)

(542.65)

Adjustment due to change in holding

-

-

-

-

(132.40)

(132.40)

(57.20)

(189.60)

As at 30 June 2022

1,008.45

3,368.50

720.31

(608.81)

13,621.71

18,110.16

3,962.01

22,072.17

As at 01 April 2021

1,008.45

2,818.35

743.32

(77.14)

8,731.32

13,224.30

3,078.69

16,302.99

Profit for the period

-

-

-

-

736.00

736.00

160.78

896.78

De-recognition of financial assets due to disposal

-

-

-

(12.58)

12.58

-

-

-

Other comprehensive income

-

-

-

(80.85)

-

(80.85)

(53.45)

(134.30)

Transfer between the general reserve and retained earnings

-

-

(23.01)

-

23.01

-

-

-

Subsidiary dividend paid to non-controlling interest

-

-

-

-

-

-

(37.50)

(37.50)

As at 30 June 2021

1,008.45

2,818.35

720.31

(170.57)

9,502.91

13,879.45

3,148.52

17,027.97

CIC Holdings PLC 04

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CIC Holdings plc published this content on 25 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 July 2022 06:03:06 UTC.