Myland Developments : Interim Financial Statements as of 30.09.2022

MYLAND DEVELOPMENTS PLC

INTERIM FINANCIAL STATEMENTS FOR THE SIX MONTHS PERIOD ENDED 30TH SEPTEMBER, 2022

CONTENTS

Statement of Comprehensive Income

Statement of Financial Position

Statement of Changes in Equity

Statement of Cash Flows

Notes to the Financial Statements

MYLAND DEVELOPMENTS PLC

STATEMENT OF COMPREHENSIVE INCOME								Page 01
INTERIM FINANCIAL STATEMENTS FOR THE SIX MONTHS PERIOD ENDED 30TH SEPTEMBER, 2022
	For The Three Month Ended	For The Six Month Ended
	30.09.2022	30.09.2021	30.09.2022		30.09.2021		Change
	Unaudited		Unaudited	Unaudited		Unaudited
	Rs.		Rs.	Rs.		Rs.	%
Revenue	16,871,264	101,155,033	32,386,213	119,353,321	-73%
Cost of sales	(9,905,028)		(68,651,256)	(18,022,439)		(69,006,583)	-74%
Gross profit	6,966,236	32,503,777	14,363,774	50,346,738	-71%
Other operating income	86,212	619,534	260,083	729,786	-64%
Other gain /(losses)	2,959,262	(1,386,691)	5,080,726	5,989,652	100%
Selling & marketing expenses	(1,694,763)	(3,617,627)	(3,823,671)	(4,756,564)	-20%
Administrative expenses	(8,187,293)		(5,480,871)	(17,515,353)		(9,739,342)	80%
Result from operating activities	129,654	22,638,122	(1,634,441)	42,570,271	-104%
Finance income	396,103	761	1,021,416	1,534	66501%
Finance cost	(919,683)		(2,587,973)	(2,073,745)		(3,967,242)	-48%
Net finance expenses	(523,580)	(2,587,212)	(1,052,329)	(3,965,708)	-73%
Profit /(Loss) before taxation	(393,924)	20,050,910	(2,686,770)	38,604,562	-107%
Income tax expenses	-		(5,600,403)	-		(5,600,403)	0%
Profit/(Loss) for the period	(393,924)		14,450,507	(2,686,770)		33,004,159		-108%
Other comprehensive income			-			-
Items that will not be re-classified to profit or loss						-
Remeasurement of defined benefits liability	(107,785)		-	(215,570)		-		-
Related tax on remeasurement of defined benefits liability	(15,090)	-	(30,180)	-	-
Total comprehensive income for the period	(516,799)	14,450,507	(2,932,520)	33,004,159	-109%
Earnings per share	-0.01	0.40	-0.07	0.91

The above figures are subject to audit

Figures in brackets indicate deductions.

MYLAND DEVELOPMENTS PLC

STATEMENT OF CHANGES IN EQUITY				Page 03
INTERIM FINANCIAL STATEMENTS FOR THE SIX MONTHS PERIOD ENDED 30TH SEPTEMBER, 2022
	Stated Capital	Revaluation	Retained	Total
	Reserve	Earnings
	Rs.	Rs.	Rs.	Rs.
Balance as at 1st April 2021	25,000,000	-	36,167,010	61,167,010
Revaluation reserve	-	10,661,100	-	10,661,100
Capitalization of reserve	50,000,000	-	(50,000,000)	-
Profit for the period	-	-	33,004,159	33,004,159
Balance as at 30th September 2021	75,000,000	10,661,100	19,171,169	104,832,269
Balance as at 1st April 2022	150,000,000	10,661,000	30,186,998	190,847,998
Profit for the period	-	-	(2,686,770)	(2,686,770)
Other comprehensive income	-	-	(245,750)	(245,749)
Total comprehensive income	150,000,000	10,661,000	27,254,478	187,915,478
Final dividends for 2021/2022	-	-	(9,062,500)	(9,062,500)
Balance as at 30th September 2022	150,000,000	10,661,000	18,191,978	178,852,978
The above figures are subject to audit