DIALOG FINANCE PLC DIALOG FINANCE PLC
CONDENSED INTERIM FINANCIAL STATEMENTS
FOR THE FOURTH QUARTER ENDED
31 DECEMBER 2021
Confidential
Page 1 | |||
DIALOG FINANCE PLC | |||
Statement of financial position | |||
(all amounts in Sri Lanka Rupees thousands) | |||
31 Dec 2021 | 31 Dec 2020 | ||
(Unaudited) | (Audited) | ||
ASSETS | |||
Cash and cash equivalents | 136,222 | 648,006 | |
Placements with banks and financial institutions | - | 1,163,518 | |
Securities purchased under repurchase agreements | 194,641 | 77,722 | |
Financial assets at fair value through profit or loss | 1,919 | 1,513 | |
Financial assets at amortised cost - loans and advances | 2,742,531 | 806,332 | |
Financial assets at fair value through other comprehensive income | 2,101 | 2,098 | |
Financial investments at amortised cost | 597,106 | 2,186 | |
Other assets | 33,981 | 194,418 | |
Current tax receivable | 6,255 | 6,255 | |
Right-of-use assets | 17,601 | 24,100 | |
Property, plant and equipment | 60,807 | 77,555 | |
Intangible assets | 104,823 | 99,699 | |
Deferred tax assets | 123,393 | 123,820 | |
Total assets | 4,021,380 | 3,227,222 | |
LIABILITIES | |||
Financial liabilities at amortised cost - due to customers | 1,323,916 | 1,064,175 | |
Retirement benefit obligations | 7,258 | 8,429 | |
Lease liabilities | 20,142 | 24,966 | |
Other liabilities | 133,269 | 75,780 | |
Total liabilities | 1,484,585 | 1,173,350 | |
EQUITY | |||
Stated capital | 2,934,582 | 2,374,509 | |
Statutory reserve fund | 11,361 | 11,361 | |
Fair value through other comprehensive income reserve | 1,580 | 1,577 | |
Accumulated losses | (410,728) | (333,575) | |
Total equity | 2,536,795 | 2,053,872 | |
Total equity and liabilities | 4,021,380 | 3,227,222 | |
Net assets per share (Rs.) | 21.61 | 18.88 | |
Commitments and contingencies | 378,648 | 302,457 | |
The notes on pages 5 to 10 form an integral part of these financial statements.
CERTIFICATION
We certify that the above Interim Financial Statements are in compliance with the requirements of the Companies Act No: 7 of 2007 and give true and fair view of the state of affairs of Dialog Finance PLC as at 31 December 2021 and its loss for the year ended 31 December 2021.
Signed | Signed |
…………………………. | ………………………... |
Head of Finance | Chief Executive Officer |
Date: 10/02/2022 | Date: 10/02/2022 |
The Board of Directors is responsible for the preparation and presentation of these financial statements.
Signed for and on behalf of the Board of Directors by, | |
Signed | Signed |
………………………… | ………………………… |
Director | Director |
Date: 10/02/2022 | Date: 10/02/2022 |
Confidential
Page 2
DIALOG FINANCE PLC
Statement of profit or loss and other comprehensive income
(all amounts in Sri Lanka Rupees thousands) | ||||||
Year ended 31 December | Three months ended 31 December | |||||
2021 | 2020 | Change | 2021 | 2020 | Change | |
(Unaudited) | (Audited) | % | (Unaudited) | (Unaudited) | % |
Interest income
Less: Interest expense
Net interest income
Fee and commission income
Net gains from trading Other operating income
Total operating income Less: Impairment (charge)/
reversal
Net operating income
Less: Operating expenses Personnel expenses Depreciation and amortisation Other expenses
Operating loss before taxes on financial services
Value added Tax (VAT) on financial services
261,067 | 214,700 | 22 | 88,964 | 52,170 | 71 |
(56,629) | (67,090) | (16) | (14,500) | (15,047) | (4) |
204,438 | 147,610 | 38 | 74,464 | 37,123 | 101 |
5,214 | 1,961 | 166 | 1,401 | 652 | 115 |
406 | 283 | 43 | 235 | 339 | (31) |
3,741 | 18,846 | (80) | 853 | 1,582 | (46) |
213,799 | 168,700 | 27 | 76,953 | 39,696 | 94 |
(10,247) | (63,339) | (84) | (911) | (5,039) | (82) |
203,552 | 105,361 | 93 | 76,042 | 34,657 | 119 |
(123,319) | (136,865) | (10) | (36,778) | (29,611) | 24 |
(43,256) | (41,099) | 5 | (11,076) | (7,309) | 52 |
(109,529) | (113,696) | (4) | (32,170) | (31,383) | 3 |
(72,552) | (186,299) | (61) | (3,982) | (33,646) | (88) |
(4,689) | - | 100 | (3,529) | - | 100 |
Loss before tax for the period | (77,241) | (186,299) | (59) | (7,511) | (33,646) | (78) |
Income tax expense | - | 86,780 | (100) | - | 86,780 | (100) |
Loss for the period
Other comprehensive income Items that will not be
reclassified to profit or loss:
Changes in the fair value of equity investments at fair value through other comprehensive income
Remeasurement of defined benefit Obligations Deferred tax effect on other comprehensive income
Other comprehensive income, net of tax
Total comprehensive income for the period, net of tax
(77,241) | (99,519) | (22) | (7,511) | 53,134 | (114) |
3 | 118 | (97) | 3 | 118 | (97) |
1,779 | (374) | (576) | 1,779 | (374) | (576) |
(427) | 92 | (564) | (427) | 92 | (564) |
1,355 | (164) | (926) | 1,355 | (164) | (926) |
(75,886) | (99,683) | (24) | (6,156) | 52,970 | (112) |
Profit/ (loss) per share (Rs.) | (0.70) | (0.98) | (0.06) | 0.52 |
The notes on pages 5 to 10 form an integral part of these financial statements.
Confidential
Page 3
DIALOG FINANCE PLC
Statement of changes in equity | |||||
(all amounts in Sri Lanka Rupees thousands) | |||||
Retained | Fair value | ||||
earnings / | Statutory | through other | |||
Stated | accumulated | reserve | comprehensive | ||
capital | losses | fund | income reserve | Total | |
Balance at 1 January 2021 | 2,374,509 | (333,575) | 11,361 | 1,577 | 2,053,872 |
Loss for the year | - | (77,241) | - | - | (77,241) |
Other comprehensive income, net of | - | 1,352 | - | 3 | 1,355 |
tax | |||||
Total comprehensive income for | - | (75,889) | - | 3 | (75,886) |
the year | |||||
Rights issue during the year | 560,073 | - | - | - | 560,073 |
Rights issue expenses | - | (1,264) | - | - | (1,264) |
Balance at 31 December 2021 | 2,934,582 | (410,728) | 11,361 | 1,580 | 2,536,795 |
Balance at 1 January 2020
Loss for the year
Other comprehensive income, net of tax
Total comprehensive income for the year
Rights issue during the year Rights issue expenses
Balance at 31 December 2020
1,673,165 | (232,335) | 11,361 | 1,471 | 1,453,662 |
- | (99,519) | - | - | (99,519) |
- | (270) | - | 106 | (164) |
- | (99,789) | - | 106 | (99,683) |
701,344 | - | - | - | 701,344 |
- | (1,451) | - | - | (1,451) |
2,374,509 | (333,575) | 11,361 | 1,577 | 2,053,872 |
The notes on pages 5 to10 form an integral part of these financial statements.
Confidential
DIALOG FINANCE PLC
Statement of cash flows
(all amounts in Sri Lanka Rupees thousands)
Cash flows from operating activities
Loss before income tax
Adjustments for Interest expenses
Impairment charges and other losses Provision for retirement benefit obligation Depreciation and amortization
Interest on lease liability
Profit on disposal of fixed assets
Net gains on financial assets at fair value through profit or loss
Cash generated from / (used in) operations before working capital changes
(Increase) / decrease in loans and advances Decrease / (increase) in other assets Increase in amounts due to customers Increase in trade and other payables
Cash (used in) / generated from operations
Interest paid
Retirement benefits paid
Net cash (used in) / generated from operating activities
Cash flows from investing activities
Acquisition of property, plant and equipment Acquisition of intangible assets
Net investment in treasury bills
Net placement with financial institutions
Net cash flows from securities purchased under repurchased agreement
Net cash (used in)/ generated from investing activities
Cash flows from financing activities
Net proceeds from rights issue
Principle element of lease payment
Net cash generated from financing activities
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
Analysis of cash and cash equivalents at the end of the period
Cash and bank balances
Add: Placements with financial Institutions (less than 90 days)
Less: Impairment provision
The notes on pages 5 to10 form an integral part of these financial statement
Page 4
Year ended 31 December
20212020
(Unaudited) (Audited)
(77,241) (186,299)
56,62967,090
10,24763,339
1,8602,449
43,25641,099
2,441832
--
- (283)
36,786 (11,773)
(1,936,199) 217,297
160,863 (24,342)
259,741 245,306
52,6651,931
(1,426,144) 428,419
(62,798) (43,478)
(1,251)(2,294)
(1,490,193) 382,647
(3,233) (36,169)
(21,900)(3,256)
(594,920)(101)
- 647,566
(116,919)(1,501)
(736,972) 606,539
558,809 699,893
(7,265)(6,635)
551,544 693,258
(1,675,621) 1,682,444
1,811,882 129,438
136,261 1,811,882
136,261 648,157
- 1,163,725
136,261 1,811,882
-
(358)
136,222 1,811,524
Confidential
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Dialog Finance plc published this content on 11 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 February 2022 11:27:03 UTC.
