Myland Developments : Interim Financial Statements as of 31.12.2022

MYLAND DEVELOPMENTS PLC

INTERIM FINANCIAL STATEMENTS FOR THE NINE MONTHS PERIOD ENDED 31ST DECEMBER, 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 NINE MONTHS PERIOD ENDED 31ST DECEMBER, 2022
	For The Three Month Ended	For The Nine Month Ended
	31.12.2022	31.12.2021	31.12.2022		31.12.2021		Change
	Unaudited		Unaudited	Unaudited		Unaudited
	Rs.		Rs.	Rs.		Rs.	%
Revenue	19,286,086	46,539,488	51,672,299	165,892,808	-69%
Cost of sales	(11,179,779)		(33,579,191)	(29,202,218)		(102,585,773)	-72%
Gross profit	8,106,307	12,960,296	22,470,081	63,307,035	-65%
Other operating income	595,924	157,338	856,007	887,124	-4%
Other gain /(losses)	(522,000)	5,043,285	4,558,726	11,041,368	-59%
Selling & marketing expenses	(1,899,198)	(1,770,518)	(5,722,869)	(6,527,082)	-12%
Administrative expenses	(8,121,807)		(8,943,261)	(25,637,160)		(18,682,605)	37%
Result from operating activities	(1,840,774)	7,447,140	(3,475,215)	50,025,840	-107%
Finance income	4,173	748	1,025,589	2,281	44861%
Finance cost	(1,758,224)		(2,142,778)	(3,831,969)		(6,118,451)	-37%
Net finance expenses	(1,754,051)	(2,142,030)	(2,806,380)	(6,116,171)	-54%
Profit /(Loss) before taxation	(3,594,825)	5,305,110	(6,281,595)	43,909,671	-114%
Income tax expenses	-		(234,292)	-		(2,487,452)	-100%
Profit/(Loss) for the period	(3,594,825)		5,070,818	(6,281,595)		41,422,218		-115%
Other comprehensive income			-			-
Items that will not be re-classified to profit or loss						-
Remeasurement of defined benefits liability	(107,785)		-	(323,355)		-		-
Related tax on remeasurement of defined benefits liability	(15,090)	-	(45,270)	-	-
Total comprehensive income for the period	(3,717,700)	5,070,818	(6,650,220)	41,422,218	-116%
Earnings per share	-0.10	0.14	-0.17	1.14

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 NINE MONTHS PERIOD ENDED 31ST DECEMBER, 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	-	-	41,422,218	41,422,218
Balance as at 31st December 2021	75,000,000	10,661,100	27,589,228	113,250,328
Balance as at 1st April 2022	150,000,000	10,661,000	30,186,998	190,847,998
Profit for the period	-	-	(6,281,595)	(6,281,595)
Other comprehensive income	-	-	(368,625)	(368,625)
Total comprehensive income	150,000,000	10,661,000	23,536,778	184,197,778
Final dividends for 2021/2022	-	-	(9,062,500)	(9,062,500)
Balance as at 31st December 2022	150,000,000	10,661,000	14,474,278	175,135,278
The above figures are subject to audit