PEGASUS HOTELS OF CEYLON PLC Pegasus Hotels of Ceylon PLC
A Carson Cumberbatch Company
Interim report for the nine months ended 31st December 2021
PEGASUS HOTELS OF CEYLON PLC
STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME - GROUP (All figures are in Sri Lankan Rupees Thousands)
Three months ended | Nine months ended | |||||
31st December | 31st December | |||||
2021 | 2020 | % | 2021 | 2020 | % | |
Revenue | 108,807 | 22,806 | 377 | 213,965 | 111,711 | 92 |
Direct costs | (96,736) | (55,268) | 75 | (229,707) | (187,286) | 23 |
Gross profit / (loss) | 12,071 | (32,462) | (137) | (15,742) | (75,575) | (79) |
Other income | 1,143 | 1,073 | 7 | 2,945 | 4,063 | (28) |
Administrative expenses | (44,198) | (37,368) | 18 | (120,275) | (119,726) | - |
Loss from operations | (33,070) | (70,331) | (53) | (138,315) | (197,073) | (30) |
Finance income | 1,618 | 2,614 | (38) | 5,196 | 9,221 | (44) |
Finance costs | (4,884) | (4,053) | 21 | (14,168) | (11,935) | 19 |
Net finance income / (cost) | (3,266) | (1,439) | 127 | (8,972) | (2,714) | 231 |
Loss before taxation | (36,336) | (71,770) | (49) | (147,287) | (199,787) | (26) |
Income tax expenses | - | (595) | (100) | (395) | (2,177) | (82) |
Deferred taxation | 5,131 | 14,890 | (66) | 21,381 | 30,849 | (31) |
Loss for the period | (31,205) | (57,475) | (46) | (126,301) | (171,115) | (26) |
Other comprehensive income | ||||||
Items that will not be reclassified to profit or loss | ||||||
Actuarial gain / (loss) from valuation of employee | ||||||
benefits | - | - | - | - | - | - |
Related tax | - | - | - | - | - | - |
Other comprehensive income / (expense) for the | ||||||
period | - | - | - | - | - | - |
Total comprehensive income /(expense) for the | ||||||
period | (31,205) | (57,475) | (46) | (126,301) | (171,115) | (26) |
Earnings / (loss) per share (Rs.) | (1.03) | (1.89) | (4.16) | (5.63) |
Change % represents the percentage change in current period's results compared to the comparative period of previous year.
Figures in brackets indicate deductions.
Page 1
PEGASUS HOTELS OF CEYLON PLC
STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME - COMPANY (All figures are in Sri Lankan Rupees Thousands)
Three months ended | Nine months ended | |||||
31st December | Change | 31st December | Change | |||
2021 | 2020 | 2021 | 2020 | |||
% | % | |||||
Revenue | 89,665 | 13,976 | 542 | 180,150 | 82,906 | 117 |
Direct costs | (80,625) | (44,318) | 82 | (192,028) | (152,979) | 26 |
Gross profit / (loss) | 9,040 | (30,342) | (130) | (11,878) | (70,073) | (83) |
Other income | 483 | 473 | 2 | 955 | 2,076 | (54) |
Selling and promotional expenses | (1,519) | (872) | 74 | (3,875) | (3,811) | 2 |
Administrative expenses | (37,188) | (31,383) | 18 | (101,549) | (99,948) | 2 |
Loss from operations | (29,184) | (62,124) | (53) | (116,347) | (171,756) | (32) |
Finance income | 1,598 | 2,548 | (37) | 4,980 | 9,072 | (45) |
Finance costs | (2,108) | (1,297) | 63 | (5,895) | (3,727) | 58 |
Net finance income / (cost) | (510) | 1,251 | (141) | (915) | 5,345 | (117) |
Loss before taxation | (29,694) | (60,873) | (51) | (117,262) | (166,411) | (30) |
Income tax expenses | - | (611) | (100) | (395) | (2,177) | (82) |
Deferred taxation | 3,922 | 12,986 | (70) | 16,793 | 26,060 | (36) |
Loss for the period | (25,772) | (48,498) | (47) | (100,864) | (142,528) | (29) |
Other comprehensive income | ||||||
Items that will not be reclassified to profit or loss | ||||||
Actuarial gain / (loss) from valuation of employee | ||||||
benefits | - | - | - | - | - | - |
Related tax | - | - | - | - | - | - |
Other comprehensive income / (expense) for the | ||||||
period | - | - | - | - | - | - |
Total comprehensive income /(expense) for the | ||||||
period | (25,772) | (48,498) | (47) | (100,864) | (142,528) | (29) |
Earnings / (loss) per share (Rs.) | (0.85) | (1.60) | (3.32) | (4.69) | ||
Dividend per share (Rs.) | - | - | - | - |
Change % represents the percentage change in current period's results compared to the comparative period of previous year.
Figures in brackets indicate deductions.
Page 2
PEGASUS HOTELS OF CEYLON PLC
STATEMENT OF FINANCIAL POSITION
(All figures are in Sri Lankan Rupees Thousands)
Group | Company | |||
As at | 31.12.2021 | 31.03.2021 | 31.12.2021 | 31.03.2021 |
(Audited) | (Audited) | |||
ASSETS | ||||
Non-current assets | ||||
Property, plant and equipment | 2,239,491 | 2,301,175 | 1,929,263 | 1,980,722 |
Right-of-use assets | 5,674 | 5,826 | - | - |
Intangible assets | 66,607 | 66,859 | - | - |
Investment in subsidiary | - | - | 60,451 | 60,451 |
Compensation receivable | 24,759 | 24,759 | 24,759 | 24,759 |
Current assets | ||||
Inventories | 18,958 | 18,515 | 15,983 | 14,832 |
Fair value through profit or loss financial assets | 34,583 | 16,270 | 34,545 | 4,226 |
Cash and cash equivalents | 63,126 | 7,103 | 61,438 | 6,645 |
Total current assets | 200,355 | 207,252 | 185,676 | 182,770 |
Total assets | 2,536,886 | 2,605,871 | 2,200,149 | 2,248,702 |
EQUITY AND LIABILITIES | ||||
Equity | ||||
Stated capital | 515,170 | 515,170 | 515,170 | 515,170 |
Capital reserves | 1,390,298 | 1,390,298 | 1,219,111 | 1,219,111 |
Revenue reserves | (50,011) | 76,290 | (1,709) | 99,155 |
Non-current liabilities | ||||
Deferred tax liability | 200,285 | 221,666 | 188,651 | 205,444 |
Employee benefits | 27,858 | 28,784 | 20,684 | 21,762 |
Lease liability | 9,447 | 9,204 | - | - |
Current liabilities | ||||
Trade and other payables | 133,560 | 115,152 | 96,115 | 77,627 |
Current tax liabilities | 1,334 | 939 | 1,868 | 1,473 |
Lease liability | 561 | 604 | - | - |
Bank overdraft | 3,571 | 1,959 | - | 607 |
Total liabilities | 681,429 | 624,113 | 467,577 | 415,266 |
Total equity and liabilities | 2,536,886 | 2,605,871 | 2,200,149 | 2,248,702 |
Net assets per share (Rs.) | 61.05 | 65.21 | 57.01 | 60.33 |
The Statement of Financial Position as at 31st December 2021 and the related Statements of Profit or Loss and Other Comprehensive Income, Changes in Equity and Cash Flows for the period then ended as disclosed in pages 1 to 5 have been drawn up from unaudited financial statements.
I certify that these financial statements are in compliance with the requirements of Companies Act, No. 7 of 2007. (Sgd.)
V.R. Wijesinghe
Director - Finance
Carsons Management Services (Private) Limited
The Board of Directors is responsible for the preparation and presentation of these financial statements.
Approved and signed on behalf of the Managers, | Approved and signed on behalf of the Board, | |
(Sgd.) | (Sgd.) | (Sgd.) |
A.P. Weeratunge | D.C.R. Gunawardena | K. Selvanathan |
Director | Chairman | Director |
Carsons Management Services (Private) Limited |
09th February 2022
Colombo
Page 3
PEGASUS HOTELS OF CEYLON PLC STATEMENT OF CHANGES IN EQUITY
(All figures are in Sri Lankan Rupees Thousands)
Group | Capital | Revenue | ||
Stated capital | reserves | reserves | Total equity | |
Balance as at 1st April 2021 (Audited) | 515,170 | 1,390,298 | 76,290 | 1,981,758 |
Loss for the period | - | - | (126,301) | (126,301) |
Other comprehensive income / (expense) for the period | - | - | - | - |
Total comprehensive income / (expense) for the period | - | - | (126,301) | (126,301) |
Balance as at 31st December 2021 (Unaudited) | 515,170 | 1,390,298 | (50,011) | 1,855,457 |
Balance as at 1st April 2020 (Audited) | 515,170 | 1,060,602 | 308,650 | 1,884,422 |
Loss for the period | - | - | (171,115) | (171,115) |
Other comprehensive income / (expense) for the period | - | - | - | - |
Total comprehensive income / (expense) for the period | - | - | (171,115) | (171,115) |
Balance as at 31st December 2020 (Unaudited) | 515,170 | 1,060,602 | 137,535 | 1,713,307 |
Company | Capital | Revenue | ||
Stated capital | reserves | reserves | Total equity | |
Balance as at 1st April 2021 (Audited) | 515,170 | 1,219,111 | 99,155 | 1,833,436 |
Loss for the period | - | - | (100,864) | (100,864) |
Other comprehensive income / (expense) for the period | - | - | - | - |
Total comprehensive income / (expense) for the period | - | - | (100,864) | (100,864) |
Balance as at 31st December 2021 (Unaudited) | 515,170 | 1,219,111 | (1,709) | 1,732,572 |
Balance as at 1st April 2020 (Audited) | 515,170 | 973,052 | 304,136 | 1,792,358 |
Loss for the period | - | - | (142,528) | (142,528) |
Other comprehensive income / (expense) for the period | - | - | - | - |
Total comprehensive income / (expense) for the period | - | - | (142,528) | (142,528) |
Balance as at 31st December 2020 (Unaudited) | 515,170 | 973,052 | 161,608 | 1,649,830 |
Figures in brackets indicate deductions.
Page 4
This is an excerpt of the original content. To continue reading it, access the original document here.
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
Pegasus Hotels of Ceylon plc published this content on 14 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 February 2022 04:21:03 UTC.
