HAYLEYS FIBRE PLC HAYLEYS FIBRE PLC
INTERIM FINANCIAL STATEMENTS FOR THE
PERIOD ENDED 30TH JUNE 2022
HAYLEYS FIBRE PLC
INTERIM REPORT
STATEMENT OF PROFIT OR LOSS
Group | Company | Group | Company | |||||
Audited | Audited | Unaudited | Unaudited | Unaudited | Unaudited | |||
Year Ended | Year Ended | Period Ended | Period Ended | Period Ended | Period Ended | |||
31.03.2022 | 31.03.2022 | 30.06.2022 | 30.06.2021 | Change | 30.06.2022 | 30.06.2021 | Change | |
Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 | |
3,698,646 | 1,695,787 | Revenue | 1,745,376 | 700,301 | 1,045,075 |
(3,143,883) | (1,585,032) | Cost of sales | (1,378,516) | (555,315) | (823,201) |
554,763 | 110,755 | Gross profit | 366,860 | 144,986 | 221,874 |
70,397 | 146,200 | Other income | 13,975 | 2,985 | 10,990 |
(94,606) | (41,287) | Selling and distribution expenses | (43,804) | (8,258) | (35,546) |
(191,808) | (103,869) | Administrative expenses | (92,965) | (49,887) | (43,078) |
338,746 | 111,799 | Operating profit/(loss) | 244,066 | 89,826 | 154,240 |
180,991 | 92,077 | Finance income | 142,509 | 9,102 | 133,407 |
(80,804) | (21,987) | Finance cost | (119,307) | (17,963) | (101,344) |
100,187 | 70,090 | Net finance income | 23,202 | (8,861) | 32,063 |
438,933 | 181,889 | Profit before tax | 267,268 | 80,965 | 186,303 |
(99,250) | (43,865) | Tax expense | (33,587) | (12,330) | (21,257) |
339,683 | 138,024 | Profit for the period | 233,681 | 68,635 | 165,046 |
Profit for the period attributable to: | |||||
197,932 | 138,024 | Equity holders of the company | 199,308 | 35,177 | 164,131 |
141,751 | - | Non-controlling interest | 34,373 | 33,458 | 915 |
339,683 | 138,024 | 233,681 | 68,635 | 165,046 | |
8.25 | 5.75 | Basic earnings per share (Rs.) | 8.30 | 1.47 | |
- | 4.00 | Dividend per share (Rs.) | - | - |
Notes from pages 7 to 8 form an integral part of these Financial Statements. Figures in brackets indicate deductions.
1,101,713 | 221,052 | 880,661 |
(946,727) | (196,350) | (750,377) |
154,986 | 24,702 | 130,284 |
14% | 11% | |
15,296 | 4,450 | 10,846 |
(12,370) | - | (12,370) |
(57,100) | (28,934) | (28,166) |
100,812 | 218 | 100,594 |
91,456 | 5,122 | 86,334 |
(13,345) | (2,653) | (10,692) |
78,111 | 2,469 | 75,642 |
178,923 | 2,687 | 176,236 |
(21,095) | (471) | (20,624) |
157,828 | 2,216 | 155,612 |
157,828 | 2,216 | 155,612 |
- | - | - |
157,828 | 2,216 | 155,612 |
6.58 | 0.09 | |
0.30 | 1.75 | - |
1
HAYLEYS FIBRE PLC
INTERIM REPORT
STATEMENT OF COMPREHENSIVE INCOME
Group | Company | Group | Company | ||||
Audited | Audited | Unaudited | Unaudited | Unaudited | Unaudited | ||
Year Ended | Year Ended | Period Ended | Period Ended | Period Ended | Period Ended | ||
31.03.2022 | 31.03.2022 | 30.06.2022 | 30.06.2021 | 30.06.2022 | 30.06.2021 | ||
Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 | ||
339,683 | 138,024 | Profit for the period | 233,681 | 68,635 | 157,828 | 2,216 | |
Other comprehensive income |
Other comprehensive income that may not to be reclassified to profit or loss in subsequent periods
(3,660) | (2,680) |
514 | 375 |
(3,146) | (2,305) |
4,454 | 4,454 |
(624) | (624) |
3,830 | 3,830 |
11,619 | 11,619 |
(1,162) | (1,162) |
10,457 | 10,457 |
Re-measurement gains/(loss) on employee benefit obligations | - | - | - | - |
Income tax effect on re-measurement gains/(loss) on employee benefit obligations | - | - | - | - |
- | - | - | - | |
Revaluation of land | - | - | - | - |
Income tax effect on revaluation of land | - | - | - | - |
- | - | - | - | |
Net gain/(loss) on equity instrument designated at FVOCI | - | - | - | - |
Income tax effect on net gain/(loss) on equity instrument designated at FVOCI | - | - | - | - |
- | - | - | - | |
Other comprehensive income that may be reclassified to the profit or loss in subsequent periods
(33,572) | - | Net loss on cash flow hedges | (12,432) | (154) | - | - | |
(33,572) | - | (12,432) | (154) | - | - | ||
(22,431) | 11,982 | Total other comprehensive income for the period, Net of tax | (12,432) | (154) | - | - | |
317,252 | 150,006 | Total comprehensive income for the period, Net of tax | 221,249 | 68,481 | 157,828 | 2,216 |
192,644 150,006
124,608-
317,252 150,006
Total comprehensive income for the period attributable to:
Equity holders of the Company | 193,092 | 35,100 | 157,828 | 2,216 |
Non-controlling interest | 28,157 | 33,381 | - | - |
221,249 | 68,481 | 157,828 | 2,216 |
Notes from pages 7 to 8 form an integral part of these Financial Statements. Figures in brackets indicate deductions.
2
HAYLEYS FIBRE PLC
INTERIM REPORT
STATEMENT OF FINANCIAL POSITION | 0 | - | (0) | (0) | ||||||||||
0 | - | (0) | (0) | |||||||||||
Group | Company | Group | Company | |||||||||||
Audited | Audited | Unaudited | Unaudited | Unaudited | Unaudited | |||||||||
As at | As at | As at | As at | As at | As at | |||||||||
31.03.2022 | 31.03.2022 | 30.06.2022 | 30.06.2021 | 30.06.2022 | 30.06.2021 | |||||||||
Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 | |||||||||
Assets | ||||||||||||||
Non-current assets | ||||||||||||||
754,508 | 328,769 | Property, plant and equipment | 755,455 | 631,454 | 336,816 | 196,091 | ||||||||
41,621 | 9,250 | Intangible assets | 39,860 | 46,914 | 8,522 | 11,443 | ||||||||
16,802 | 15,777 | Right-of-use assets / Lease assets | 16,120 | 18,850 | 15,111 | 17,778 | ||||||||
- | 233,034 | Investment in subsidiary | - | - | 233,034 | 233,034 | ||||||||
120,987 | 120,987 | Other non-current financial assets | 120,987 | 109,368 | 120,987 | 109,368 | ||||||||
15,196 | - | Deferred tax assets | 14,236 | 21,437 | - | - | ||||||||
949,114 | 707,817 | Total non-current assets | 946,658 | 828,023 | 714,470 | 567,714 | ||||||||
Current assets | ||||||||||||||
858,920 | 342,419 | Inventories | 1,039,999 | 591,613 | 299,564 | 83,085 | ||||||||
893,392 | 291,689 | Trade and other receivables | 1,044,662 | 612,212 | 305,287 | 67,445 | ||||||||
32,098 | 4,037 | Other current assets | 33,821 | 55,028 | 3,738 | 4,198 | ||||||||
- | - | Income tax receivables | - | 1,249 | - | 1,033 | ||||||||
299,858 | 244,564 | Amounts due from other related companies | 729,046 | 160,604 | 694,616 | 151,751 | ||||||||
215,045 | 215,035 | Short-term deposits | 232,018 | 301,292 | 232,008 | 301,282 | ||||||||
162,870 | 116,376 | Cash in hand and at bank | 82,331 | 148,792 | 16,930 | 89,251 | ||||||||
2,462,183 | 1,214,120 | Total current assets | 3,161,877 | 1,870,790 | 1,552,143 | 698,045 | ||||||||
3,411,297 | 1,921,937 | Total assets | 4,108,535 | 2,698,813 | 2,266,613 | 1,265,759 | ||||||||
Equity and liabilities | ||||||||||||||
80,000 | 80,000 | Stated capital | 80,000 | 80,000 | 80,000 | 80,000 | ||||||||
85,042 | 105,717 | Other components of equity | 78,826 | 87,464 | 105,717 | 91,430 | ||||||||
50,625 | 50,625 | Amalgamation reserves | 50,625 | 50,625 | 50,625 | 50,625 | ||||||||
1,000,285 | 799,991 | Revenue reserves | 1,169,884 | 894,319 | 928,110 | 720,488 | ||||||||
1,215,952 | 1,036,333 | Equity attributable to equity holders of the company | 1,379,335 | 1,112,408 | 1,164,452 | 942,543 | ||||||||
264,028 | - | Non-controlling interest | 292,185 | 261,978 | - | - | ||||||||
1,479,980 | 1,036,333 | Total equity | 1,671,520 | 1,374,386 | 1,164,452 | 942,543 | ||||||||
Non-current liabilities | ||||||||||||||
197,315 | 166,664 | Interest-bearing borrowings | 176,388 | 74,223 | 166,664 | 2,776 | ||||||||
22,324 | 19,852 | Non-current lease liabilities | 21,351 | 24,065 | 18,800 | 21,466 | ||||||||
54,900 | 33,788 | Deferred tax liabilities | 43,093 | 15,963 | 30,208 | 8,466 | ||||||||
34,938 | 30,235 | Employee benefit obligations | 49,971 | 32,869 | 38,418 | 27,398 | ||||||||
309,477 | 250,539 | Total non-current liabilities | 290,803 | 147,120 | 254,090 | 60,106 | ||||||||
Current liabilities | ||||||||||||||
329,700 | 153,763 | Trade and other payables | 477,816 | 359,129 | 195,497 | 102,055 | ||||||||
2,160 | 2,114 | Current lease liability | 2,712 | 1,805 | 2,667 | 1,765 | ||||||||
20,721 | 10,605 | Other current liabilities | 66,121 | 17,177 | 32,074 | 228 | ||||||||
290,790 | 260,517 | Amounts due to other related companies | 554,462 | 317,550 | 356,437 | 96,526 | ||||||||
132,970 | 40,279 | Current portion of interest bearing borrowings | 145,767 | 76,028 | 36,112 | 16,668 | ||||||||
818,458 | 154,729 | Short-term interest bearing borrowings | 837,836 | 394,598 | 190,556 | 45,868 | ||||||||
27,041 | 13,058 | Income tax liabilities | 61,498 | 11,020 | 34,728 | - | ||||||||
1,621,840 | 635,065 | Total current liabilities | 2,146,212 | 1,177,307 | 848,071 | 263,110 | ||||||||
1,931,317 | 885,604 | Total liabilities | 2,437,015 | 1,324,427 | 1,102,161 | 323,216 | ||||||||
3,411,297 | 1,921,937 | Total equity and liabilities | 4,108,535 | 2,698,813 | 2,266,613 | 1,265,759 | ||||||||
50.66 | 43.18 | Net assets per share (Rs.) | 57.47 | 46.35 | 48.52 | 39.27 | ||||||||
(0) | - | 0 | 0 | |||||||||||
It is certified that the Financial Statements have been prepared in compliance with the requirements of the Companies Act No. 07 of 2007. | ||||||||||||||
(0) | - | 0 | 0 |
Sgd
M.C.Sampath
Director/Chief Financial Officer
Board of Directors responsible for these Financial Statements. Signed for and on behalf of the Board by,
Sgd | Sgd |
A.M.Pandithage | M.M.A.R.P. Goonetileke |
Chairman | Managing Director |
Notes from pages 7 to 8 form an integral part of these Financial Statements. Figures in brackets indicate deductions.
10th August 2022
Colombo
3
STATEMENT OF CHANGES IN EQUITY
For the Period Ended 30 June
Group
HAYLEYS FIBRE PLC
INTERIM REPORT
Attributable to Equity Holders of the Parent | ||||||||
Stated | Other components of equity | Amalgamation | Amalgamation | Retained | Non-controlling | Total | ||
Capital | Fair value | Revaluation | Cash flow | capital reserve | revenue reserve | earnings | interest | |
reserve of | reserve | hedge | ||||||
financial assets | reserve | |||||||
at FVOCI |
Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 | |
Balance as at 01 April 2021 | 80,000 | 66,919 | 24,511 | (3,889) | 14,000 | 36,625 | 901,142 | 228,597 | 1,347,905 |
Profit for the period | - | - | - | - | - | - | 35,177 | 33,458 | 68,635 |
Net gain/(loss) on equity instruments designated at FVOCI | - | - | - | - | - | - | - | - | - |
Re-measurement gain/(loss) on employee benefit obligations | - | - | - | - | - | - | - | - | - |
Income tax on other comprehensive income | - | - | - | (77) | - | - | - | (77) | (154) |
Total other comprehensive income for the period | - | - | - | (77) | - | - | 35,177 | 33,381 | 68,481 |
Dividend paid | - | - | - | - | - | - | (42,000) | - | (42,000) |
Balance as at 30 June 2021 | 80,000 | 66,919 | 24,511 | (3,966) | 14,000 | 36,625 | 894,319 | 261,978 | 1,374,386 |
Balance as at 01 April 2022 | 80,000 | 77,376 | 28,341 | (20,675) | 14,000 | 36,625 | 1,000,285 | 264,028 | 1,479,980 |
Impact on Surcharge tax | - | - | - | - | - | - | (22,509) | - | (22,509) |
Balance as at 1st April 2022 - Restated | 80,000 | 77,376 | 28,341 | (20,675) | 14,000 | 36,625 | 977,776 | 264,028 | 1,457,471 |
Profit for the period | - | - | - | - | - | - | 199,308 | 34,373 | 233,681 |
Net gain/(loss) on equity instruments designated at FVOCI | - | - | - | - | - | - | - | - | - |
Re-measurement gains/(loss) on employee benefit obligations | - | - | - | - | - | - | - | - | - |
Net loss on cash flow hedges | (6,216) | - | - | - | (6,216) | (12,432) | |||
Income tax on other comprehensive income | - | - | - | - | - | - | - | - | - |
Total other comprehensive income for the period | - | - | - | (6,216) | - | - | 199,308 | 28,157 | 221,249 |
Dividend paid* | - | - | - | - | - | - | (7,200) | - | (7,200) |
Balance as at 30 June 2022 | 80,000 | 77,376 | 28,341 | (26,891) | 14,000 | 36,625 | 1,169,884 | 292,185 | 1,671,520 |
*The Final dividends of Rs. 0.30 per share was proposed and paid for the financial year 2021/2022 on 14th July 2022. Notes from pages 7 to 8 form an integral part of these Financial Statements. Figures in brackets indicate deductions.
4
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Hayleys Fibre plc published this content on 10 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 August 2022 10:39:05 UTC.
