John Keells PLC - CSE · John Keells PLC CONSOLIDATED CASH FLOW STATEMENT For the year ended 31 st...

John Keells PLC

Interim Financial Statements

31st

March 2017

CONSOLIDATED

INCOME STATEMENT

For the year ended 31 st March 2017 2016 Change % 2017 2016 Change %

Revenue 180,616 159,462 13 612,627 706,664 (13)

Cost of sales (55,324) (61,956) 11 (215,005) (251,190) 14

Gross profit 125,292 97,506 28 397,622 455,474 (13)

Other operating income (48) 64 (175) 195 3,030 (94)

Distribution expenses (784) (114,250) 99 8,916 (196,130) 105

Administrative expenses (53,636) (56,231) 5 (221,139) (238,153) 7

Results from operating activities 70,824 (72,911) 197 185,594 24,221 666

Finance costs (18,182) (14,515) (25) (62,868) (65,182) 4

Finance income 12,829 4,004 220 65,438 51,589 27

Net finance (costs) / income (5,353) (10,511) 49 2,570 (13,593) 119

Share of results of equity-accounted investees (82) 5,935 (101) 7,432 7,546 (2)

Change in fair value of investment properties 45,330 45,292 - 45,330 45,292 -

Profit before tax 110,719 (32,195) 444 240,926 63,466 280

Tax expense (12,934) 20,313 (164) (49,597) (9,253) (436) Profit for the Year 97,785 (11,882) 923 191,329 54,213 253

Attributable to :

Equity holders of the parent 98,418 (11,535) 953 196,020 52,746 272

Non-controlling interests (633) (347) (82) (4,691) 1,467 (420)

97,785 (11,882) 923 191,329 54,213 253

Earnings per share Rs. Rs. Rs.

Basic 1.62 (0.19) 3.22 0.87

Dividend per share - - 1.00 3.75

Note : All values are in Rupees '000s, unless otherwise stated.

Figures in brackets indicate deductions.

The figures relating to the fourth quarter are not audited.

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John Keells PLC

Year ended 31st MarchQuarter ended 31st March

CONSOLIDATED STATEMENT OF

COMPREHENSIVE INCOME

For the year ended 31 st March 2017 2016 2017 2016

Profit for the period 97,785 (11,882) 191,329 54,213

Other comprehensive incomeOther comprehensive income to be reclassified to income statement in subsequent periodsNet (loss) / gain on available-for-sale financial assets (33,452) (96,752) (64,330) 158,766 Share of other comprehensive income of equity-accounted investees - (361) (1,216) 592

Net other comprehensive income to be reclassified to income statement in subsequent periods (33,452) (97,113) (65,546) 159,358

Other comprehensive income not to be reclassified to income statement in subsequent periodsRevaluation of Land & Buildings - 7,703 - 7,703

Re-measurement gain /(loss) on defined benefit plans (1,534) (2,213) (1,534) (2,213)

Net other comprehensive income not to be reclassified to income statement in subsequent periods (1,534) 5,490 (1,534) 5,490

Income tax on other comprehensive income 411 (163) 411 (163)

Other comprehensive income for the period, net of tax (34,575) (91,786) (66,669) 164,685

Total comprehensive income for the period, net of tax 63,210 (103,668) 124,660 218,898

Attributable to :

Equity holders of the parent 63,843 (103,321) 129,351 217,431

Non-controlling interests (633) (347) (4,691) 1,467 63,210 (103,668) 124,660 218,898




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John Keells PLC

Quarter ended 31st March Year ended 31st March

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

As at 31 st March 2017 2016

ASSETS

Non-current assetsProperty, plant and equipment 321,237 339,448 Lease rentals paid in advance 38,024 39,113 Investment property 227,750 182,420 Intangible assets 92 587 Investments in associates 99,632 97,736 Other non-current financial assets 2,408,119 2,434,275 Other non-current assets 6,636 4,207 Deferred tax assets 29,118 27,662

3,130,608 3,125,448

Current assetsInventories 456 484 Trade and other receivables 2,061,480 1,489,846 Amounts due from related parties 30,155 2,635 Income Tax Refunds 1,489 14,276 Short Term Investment 221,030 246,256 Other current assets 5,140 4,030 Cash in hand and at bank 175,234 99,452

2,494,984 1,856,979 Total assets 5,625,592 4,982,427

EQUITY AND LIABILITIES

Equity attributable to equity holders of the parentStated capital 152,000 152,000 Revenue reserves 2,736,703 2,602,606 Other components of equity 514,269 557,792

3,402,973 3,312,398

Non-controlling interests 33,781 23,820

Total equity 3,436,754 3,336,218

Non-current liabilitiesDeferred tax liabilities 35,060 35,168 Employee benefit liabilities 65,363 72,126

100,423 107,294

Current liabilitiesTrade and other payables 1,379,257 878,009 Amounts due to related parties 3,153 2,821

Income tax payable 30,303 958

Other current liabilities 2,125 5,012 Bank overdrafts 673,577 652,115

2,088,415 1,538,915 Total equity and liabilities 5,625,592 4,982,427

Rs. Rs.

Net assets per share 55.97 54.48


I certify that the financial statements comply with the requirements of the Companies Act No.7 of 2007.

P.A.P.Perera

Financial ControllerThe Board of Directors is responsible for the preparation and presentation of these financial statements.

J.R.F.Peiris A. D. Gunewardene

Director Director31st May , 2017

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John Keells PLC

John Keells PLC

CONSOLIDATED

CASH FLOW STATEMENT

For the year ended 31 st March Note 2017 2016

CASH FLOWS FROM OPERATING ACTIVITIES

Profit before working capital changes A 246,063 87,365

(Increase) / Decrease in inventories 29 (87)

(Increase) / Decrease in other non-current assets (37,507) 30,896

(Increase) / Decrease in trade and other receivables (571,634) 968,294

(Increase) / Decrease in amounts due from related parties (27,519) (1,439)

(Increase) / Decrease in other current assets (1,110) (2,399)

Increase / (Decrease) in other current liabilities (2,887) 1,801

Increase / (Decrease) in amounts due to related parties 331 (8,090)

Increase / (Decrease) in trade and other payables 501,246 (715,086)

Cash generated from operations 107,012 361,255

Interest Received 26,647 26,114

Dividend Received 38,791 25,475 Finance expenses paid (62,868) (65,182) Income Tax Paid (8,139) (50,751)

Super Gain Tax Paid - (93,924)

Gratuity paid/Transfers (Net) (19,802) (9,305)

Retirement benefit cost paid - -

Net cash flow from (Used) in operating activities 81,641 193,681

CASH FLOWS FROM/(USED IN) INVESTING ACTIVITIES

Purchase and construction of property, plant and equipment (3,958) (7,554)

Proceeds from Insurance claims 92 -

Proceeds from sale of Property Plan & Equipment 239 59

Net cash flow used in investing activities (3,627) (7,495)

CASH FLOWS FROM/(USED IN) FINANCING ACTIVITIES

Dividend paid to equity holders (60,800) (228,000)

Dividend paid to non-controlling Shareholders' (180) (24,000)

Proceeds from issue of shares - Non Controlling Shareholders' 12,060 -

Repayment of Short Term borrowings - (450,000)

Net cash flow used in financing activities (48,920) (702,000)

NET DECREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS 29,094 (515,814)

CASH AND CASH EQUIVALENTS AT THE BEGINNING (306,407) 209,407

CASH AND CASH EQUIVALENTS AT THE END (277,313) (306,407)

ANALYSIS OF CASH AND CASH EQUIVALENTS

Favourable balances

Short Term Investment 221,030 246,256

Cash in hand and at bank 175,234 99,452

Unfavourable balances

Bank overdrafts (673,577) (652,115) Cash and cash equivalents (277,313) (306,407)



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CONSOLIDATED CASH FLOW STATEMENT

For the year ended 31 st March 2017 2016

A. Profit before working capital changes

Profit before tax 240,926 63,466

Adjustments for:

Share of results of equity-accounted investees (7,432) (7,546)

Interest Income (26,647) (26,114)

Dividend Income (38,791) (25,475)

Finance Expenses 62,868 65,182

Depreciation of property, plant and equipment 22,081 22,940

Amortisation of Pre Paid lease 1,089 1,089

Amortisation of intangible assets 495 818

Changes in fair value of investment properties (45,330) (45,293)

Amortisation of prepaid staff cost 716 1,034

(Profit)/ Loss on Sale of Property, Plan & Equipment (213) 43

Share base payment expenses 24,796 26,307

Gratuity provision and related costs 11,505 10,914 246,063 87,365



The above figures are subject to audit.

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John Keells PLC

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StatedOther Revenue Revaluation Available Other Total Non-controlling Total

capital capital reserves Reserves for sale capital interest Equity

reserves reserve reserves

As at 31 March 2015 152,000 2,859,793 182,063 144,702 40,875 3,379,433 46,644 3,426,077

Reinstatement of useful life of fully depreciated assets 11,175 11,175 11,175

Adjusted balance as at 1 April 2015 152,000 2,870,968 182,063 144,702 40,875 3,390,608 46,644 3,437,252

Super Gains Tax paid for 2014/2015 (91,502) (91,502) (2,737) (94,239)

Profit for the year - 52,746 - - 52,746 1,467 54,213

Other comprehensive income - (1,606) 6,933 159,358 - 164,685 164,685

Total comprehensive income - 51,140 6,933 159,358 - 217,431 1,467 218,898

Exercise of share option

- - - - - -

Share base payment expenses 23,861 23,861 2,446 26,307

Final dividend paid - 2014/15 - (228,000) - - (228,000) - (228,000)

Subsidiary dividend to non-controlling interest - - - (24,000) (24,000)

As at 31 March 2016 152,000 2,602,606 188,996 304,060 64,736 3,312,398 23,820 3,336,218

Profit for the year - 196,020 - - 196,020 (4,691) 191,329

Other comprehensive income - (1,123) - (65,546) (66,669) (66,669)

Total comprehensive income - 194,897 - (65,546) 129,351 (4,691) 124,660

Share base payment expenses - 22,024 22,024 2,772 24,796

Increase Share Capital of JKSB Non Controlling Interest - - - - 12,060 12,060

- - -

Final dividend paid - 2015/16 - (60,800) - - (60,800) - (60,800)

Subsidiary dividend to non-controlling interest - - - (180) (180)

As at 31 March 2017 152,000 2,736,703 188,996 238,514 86,760 3,402,973 33,781 3,436,754



Other Components of Equity

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COMPANYINCOME STATEMENT

Year ended 31st March

For the Six months ended 30th September 2017 2016 Change % 2017 2016 Change %

Revenue 129,947 97,751 33 423,183 424,529 -

Cost of sales (31,038) (28,099) (10) (120,750) (127,179) 5

Gross profit 98,909 69,652 42 302,433 297,350 2

Dividend income (29,107) 1,525 (2,009) 4,411 124,996 (96)

Other operating income (3) - - 10 2 386

Distribution expenses (26) (113,290) 100 11,100 (192,164) 106

Administrative expenses (26,633) (26,648) - (106,218) (106,785) 1

Results from operating activities 43,140 (68,761) 163 211,736 123,399 72

Finance costs (17,993) (14,321) (26) (62,671) (64,979) 4

Finance income 40,565 26,574 53 45,530 29,652 54

Net Finanace Costs 22,572 12,253 84 (17,141) (35,327) (51)

Change in fair value of investment properties 45,330 45,292 - 45,330 45,292 -

Profit before tax 111,042 (11,216) 1,090 239,925 133,364 80

Tax expense (16,878) 22,944 (174) (51,057) 10,943 (567)

Profit for the Year 94,164 11,728 703 188,868 144,307 31

Rs. Rs. Rs. Rs.

Dividend per share - - 1.00 3.75




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John Keells PLC

Quarter ended 31st March

COMPANY STATEMENT OF

COMPREHENSIVE INCOME

Year ended 31st March


Profit for the period 94,164 11,728 188,868 144,307

Other comprehensive income

Other comprehensive income to be reclassified to income statement in subsequent periods

Net (loss) / gain on available-for-sale financial assets (33,452) (96,752) (64,330) 158,766

Net other comprehensive income to be reclassified to income statement in subsequent periods (33,452) (96,752) (64,330) 158,766

Other comprehensive income not to be reclassified to income statement in subsequent periods

Re-measurement gain /(loss) on defined benefit plans (836) (2,462) (836) (2,462)

Net other comprehensive income not to be reclassified to income statement in subsequent periods (836) (2,462) (836) (2,462)

Income tax on other comprehensive income 234 689 234 689

Other comprehensive income for the period, net of tax (34,054) (98,525) (64,932) 156,993

Total comprehensive income for the period, net of tax 60,110 (86,797) 123,936 301,300




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John Keells PLC

Quarter ended 31st March

John Keells PLC

COMPANYSTATEMENT OF FINANCIAL POSITION

As at 31 st March 2017 2016

ASSETS

Non-current assetsProperty, plant and equipment 18,162 23,949 Investment property 227,750 182,420 Investment In Subsidiaries 158,570 120,380 Investments in associates 24,000 24,000 Other non-current financial assets 2,397,665 2,422,004 Other non-current assets 5,082 2,399 Deferred tax assets 15,380 21,738

2,846,609 2,796,890

Current assetsInventories 332 344 Trade and other receivables 1,268,496 1,269,296 Amounts due from related parties 4,314 2,700 Income Tax Refunds - 13,948

Other current assets 1,992 1,056

Cash in hand and at bank 158,633 86,379

1,433,767 1,373,723 Total assets 4,280,376 4,170,613

EQUITY AND LIABILITIESStated capital 152,000 152,000 Revenue reserves 2,579,617 2,452,151 Other components of equity 296,305 348,266 Total equity 3,027,922 2,952,417

Non-current liabilitiesEmployee benefit liabilities 31,833 41,945

31,833 41,945

Current liabilitiesTrade and other payables 509,026 520,465 Amounts due to related parties 8,471 5,802 Income Tax Payable 29,050 -

Other current liabilities 1,707 1,213

Bank overdrafts 672,367 648,771

1,220,621 1,176,251 Total equity and liabilities 4,280,376 4,170,613

Rs. Rs.

Net assets per share 49.80 48.56


I certify that the financial statements comply with the requirements of the Companies Act No.7 of 2007.

P.A.P.Perera

Financial ControllerThe Board of Directors is responsible for the preparation and presentation of these financial statements.

J.R.F.Peiris A. D. Gunewardene

Director Director31st May , 2017

9

For the year ended 31 st March 2017 2016


Profit before working capital changes 233,751 29,161

(Increase) / Decrease in inventories 12 (60)

(Increase) / Decrease in trade and other receivables 799 996,644

(Increase) / Decrease in amounts due from related parties (1,613) (1,439)

(Increase) / Decrease in other non-current assets (42,677) 40,637

(Increase) / Decrease in other current assets (935) (726)

Increase / (Decrease) in other current liabilities 494 (477)

Increase / (Decrease) in amounts due to related parties 2,669 (995)

Increase / (Decrease) in trade and other payables (11,440) (764,970)

Cash generated from / (used in) operations 181,061 297,775

Interest Received 6,739 4,177

Finance expenses paid (62,671) (64,979)

Dividend Received 4,411 124,996

Income Tax Paid (1,466) (15,259)

Super Gain Tax Paid - (73,203)

Gratuity (paid)/ Transfers(Net) (17,313) (8,464)

Net cash flow from operating activities 110,761 265,043

CASH FLOWS FROM/ (USED IN) INVESTING ACTIVITIES

Acquisition of property, plant and equipment (2,001) (871)

Purchase of rights in subsidiary (38,190) -

Proceeds from sale of Property Plant & Equipment 5 5

Proceeds from Insurance claims 92

Dividend Received 38,791 25,475

Net cash flow used in investing activities (1,303) 24,609

CASH FLOWS FROM / (USED IN) FINANCING ACTIVITIES

Dividend paid (60,800) (228,000)

Repayment of Short Term borrowings - (450,000)

Net cash flow used in financing activities (60,800) (678,000)

NET DECREASE IN CASH AND CASH EQUIVALENTS 48,658 (388,348)

CASH AND CASH EQUIVALENTS AT THE BEGINNING (562,392) (174,044)

CASH AND CASH EQUIVALENTS AT THE END (513,734) (562,392)

ANALYSIS OF CASH & CASH EQUIVALENTSFavourable balances

Cash in hand & at bank 158,633 86,379

Unfavourable balances

Bank overdrafts (672,367) (648,771) (513,734) (562,392)


Profit before tax 239,925 133,364

Adjustments for:

Interest Income (6,739) (4,177)

Dividend income (43,202) (150,471)

Finance Expenses 62,671 64,979

Change in fair value of investment property (45,330) (45,292)

Depreciation of Property, plant and equipment 7,702 8,893

Profit on sale of property, plant and equipment (10) (2)

Share base payment expenses 12,369 15,376

Gratuity provision and related costs 6,365 6,491 233,751 29,161



The above figures are subject to audit.

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John Keells PLC

COMPANY

CASH FLOW STATEMENT

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Stated Available for Other capital Revenue Total

capital sale reserve reserves reserves

As at 31 March 2015 152,000 144,078 30,046 2,610,820 2,936,944

Super Gains Tax paid for 2014/2015 (73,203) (73,203)

Profit for the year - - - 144,307 144,307

Other comprehensive income - 158,766 - (1,773) 156,993

Total comprehensive income - 158,766 - 142,534 301,300

- 0

Share base payment expenses 15,376 - 15,376

Final dividend paid - 2014/15 - - - (228,000) (228,000)

As at 31 March 2016 152,000 302,844 45,422 2,452,151 2,952,417

Profit for the year - - - 188,868 188,868

Other comprehensive income - (64,330) - (602) (64,932)

Total comprehensive income - (64,330) - 188,266 123,936

Share base payment expenses 12,369 - 12,369

Final dividend paid - 2015/16 - - - (60,800) (60,800)

As at 31 March 2017 152,000 238,514 57,791 2,579,617 3,027,922



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OPERATING SEGMENTS

The following present the revenue and profit information regarding the Group's operating segments.

For the three months ended 31 st March 2017 2016 2017 2016 2017 2016 2017 2016

External Revenue 129,947 101,146 21,356 16,874 29,313 41,442 180,616 159,462

Inter segment revenue - 1,206 1,105 - - 1,206 1,105Segment Revenue 129,947 101,146 22,563 17,979 29,313 41,442 181,822 160,567

Elimination of Inter segment revenue (1,206) (1,105)Net Revenue 180,616 159,462

Segment results from operating activities 102,398 (70,286) 6,523 2,367 (38,097) (4,992) 70,824 (72,911)

Finance expenses (17,993) (14,321) - (5) (189) (189) (18,182) (14,515)

Finance income 7,560 (1,497) 1,242 710 4,027 4,791 12,829 4,004

Change in fair value of investment property 45,330 45,292 - - - - 45,330 45,292 Share of results of associates (82) 5,935

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Profit before tax 137,295 (40,812) 7,765 3,072 (34,259) (390) 110,719 (32,195)

Total Tax Expenses (12,934) 20,313Profit for the period 97,785 (11,882)

Note : All values are in Rupees '000s, unless otherwise stated. Figures in brackets indicate deductions. The figures relating to the fourth quarter are not audited.

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OPERATING SEGMENTS

The following present the revenue and profit information regarding the Group's operating segments.

For the Year ended 31 st March 2017 2016 2017 2016 2017 2016 2017 2016

External Revenue 423,183 424,529 73,405 89,034 116,039 193,101 612,627 706,664

Inter segment revenue - 4,897 4,500 - - 4,897 4,500

Segment Revenue 423,183 424,529 78,302 93,534 116,039 193,101 617,524 711,164

Elimination of Inter segment revenue (4,897) (4,500)

Net Revenue 612,627 706,664

Segment results from operating activities 207,326 (1,598) 19,708 29,265 (41,440) (3,446) 185,594 24,221

Finance expenses (62,671) (64,979) (3) (10) (194) (193) (62,868) (65,182)

Finance income 45,530 29,652 3,360 3,176 16,548 18,761 65,438 51,589

Change in fair value of investment property 45,330 45,292 - - - - 45,330 45,292

Share of results of Associate - 7,432 7,546

Profit before tax 235,515 8,367 23,065 32,431 (25,086) 15,122 240,926 63,466

Total Tax Expenses (49,597) (9,253)

Profit for the period 191,329 54,213



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John Keells PLC

NOTES TO THE INTERIM CONDENSED FINANCIAL STATEMENTS

1 CORPORATE INFORMATION

John Keells PLC, is a public limited company incorporated and domiciled in Sri Lanka and listed on the Colombo Stock Exchange.

2 INTERIM CONDENSED FINANCIAL STATEMENTSThe financial statements for the period ended 31 st March 2017, includes “the Company” referring to John Keells PLC. as the holding company and “the Group” referring to the companies whose accounts have been consolidated therein.

3 APPROVAL OF FINANCIAL STATEMENTSThe interim condensed financial statements of the Group and the Company for the Year ended 31st March 2017were authorised for issue by the Board of Directors on 31st May 2017.

4 BASIS OF PREPARATIONThe interim condensed financial statements have been prepared in compliance with Sri Lanka Accounting Standard (SLAS) LKAS 34 - Interim Financial Reporting. These interim condensed financial statements should be read in conjunction with the annual financial statements for the year ended 31 March 2016.

The presentation and classification of the financial statements of the previous year have been amended, where relevent, for better presentation and to be comparable with those of the current year.

The interim condensed financial statements are presented in Sri Lankan Rupees and all values are rounded to the nearest thousand except when otherwise indicated.

5 OPERATING SEGMENTS For management purposes, the group is organised into business units based on their products and services and has three reportable operating segments as follows:

5.1 Produce Broking This includes tea and rubber broking. 56.2 Warehousing This includes pre-auction produce warehousing.5.3 Stock Broking This includes the stock Broking segement.

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NOTES TO THE INTERIM CONDENSED FINANCIAL STATEMENTS

6 RELATED PARTY TRANSACTIONSCompany


Transactions with related partiesUltimate ParentReceiving of Services for which fees are paid 28,188 27,990 16,323 16,350 Providing of Services for which fees are received (210) (316) (210) (316)

SubsidiariesRenting of stores space for which rent is paid - - 4,897 4,500

Key management personnelShort Term Employee Benefits 11,079 20,795 7,239 16,997 Share Base Payments 7,470 14,381 7,470 14,076 Brokerage Commission earned on share transactions (1,291) (2,488) - -

Close family members of KMP (Receiving) / Rendering of services - - - -

Companies under common control Purchases of goods for a fee 1,577 1,344 1,214 689 Receiving of Services for which fees are paid 10,187 11,203 7,403 7,546 Lending Money for which interest is received (13,080) (14,559) - - Renting Office space for which rent is received (1,684) (893) (1,684) (893) Proceeds received for transfer of Fixed Assets 315 14 - - Providing of Services for which fees are received (24,781) (20,294) (24,671) (20,293)

Post employment benefit plan Contributions to the provident fund 10,607 11,741 10,607 11,741

7 SHARE INFORMATION

7.1 Public share holdingsThe percentage of shares held by the public as at 31st March 2017 was 13.10% (31 st December 2016 – 13.10%).The number of Public shareholders as at 31 st March 2017 was 1,189. (31 st December 2016 - 1,181)

7.2 Directors' and CEO's share holdingsThe number of shares held by the Board of Directors are as follows:As at 31-03-2017 31-12-2016

S C Ratnayake – Chairman Nil Nil A D Gunewardene Nil Nil J R F Peiris Nil Nil V.A.A.Perera Nil Nil A. K Gunawardhana (Date of appointment29 th June 2016) Nil Nil C. N . Wijewardane (Date of appointment 29 th June 2016) Nil Nil B.A.I Rajakarier (Date of appointment 29 th June 2016) Nil Nil R. S. Fernando (Date of resignation 9 th Sept 2016) Nil Nil H.G.R.De Mel - CEO Nil Nil

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John Keells PLC

Group

NOTES TO THE INTERIM CONDENSED FINANCIAL STATEMENTSJohn Keells PLC

7.3 Twenty largest shareholders of the company are as follows:As at 31-03-2017 31-12-2016

Number of shares % Number of shares % 1 John Keells Holdings Plc 52,834,784 86.90% 52,834,784 86.90%

2 H. S.D. Soysa 620,160 1.02% 620,160 1.02%

3 Bank of Ceylon No 2 a/c 338,414 0.56% 338,414 0.56%

4 Bank of Ceylon No 1 a/c 250,200 0.41% 250,200 0.41%

5 H. G. S.Ansell 240,000 0.39% 240,000 0.39%

6 Est. of Late M Radhakrishnan 232,800 0.38% 232,800 0.38%

7 H.A.Van Starrex 226,323 0.37% 226,323 0.37%

8 Mrs. M . L. De Silva 207,872 0.34% 207,872 0.34%

9 A. M. Weerasinghe 179,792 0.30% 179,792 0.30%

10 Catholic Bishops Conference in Sri Lanka 171,416 0.28% 171,416 0.28%

11 Employees trust Fund Board 169,988 0.28% 169,988 0.28%

12 W. R. H Perera 151,722 0.25% 151,722 0.25%

13 Waldock Mackenzie Ltd - H.S.D. Soyza 151,138 0.25% 147,658 0.24%

14 N S De Mel 137,115 0.23% 137,115 0.23%

15 Mrs. N Tirimanne 133,580 0.22% 133,580 0.22%

16 Peoples; Leasing & Finance PLC/ L.P Hapangama 130,886 0.22% 130,886 0.22%

17 Waldock Mackenzie Ltd - Mrs G Soyza 130,868 0.22% 130,868 0.22%

18 Sisira Investors Ltd 114,272 0.19% 114,272 0.19%

19 Com.Bank -Colombo Fort Investments Ltd 112,000 0.18% 112,000 0.18%20 Pinnacle Trust (Pvt) Ltd 110,587 0.18% 110,587 0.18%

56,643,917 93.16% 56,640,437 93.16%

7.4 Stated capital Stated capital is represented by number of shares in issue as given below:As at 31-03-2017 31-12-2016

Ordinary shares 60,800,000 60,800,000

7.5 Net assets per share Net assets per share have been calculated, for all periods, based on the number of shares in issue as at 31 March 2017.

7.6 Market price per shareFor the quarter ended 31 March 2017 2016

Rs. Rs.Highest 83.90 85.00Lowest 51.00 68.00Last traded 51.10 70.00

8 DIVIDENDS PAIDA final dividend of Rs. 1.00 per share for the financial year ended 31 March 2016 was paid on 16 June 2016.

9 CONTINGENCIES, CAPITAL AND OTHER COMMITMENTS

There has been no significant change in the nature of the contingencies and other commitments, which were disclosed in the annual report for the year ended 31 March 2016 and no circumstances have arisen since the Statement of Financial Position date, which would require adjustments to or disclosure in the financial statements.

10 EVENTS AFTER THE REPORTING PERIOD

In accordance with the Sri Lanka Accounting Standard 12 (revised 2005) , Events after the reporting period, the first & final dividend has not been recognized as a liability in the financial statement as at 31 st March 2017.

16

Other than disclosed above there have been no material events occurring after the reporting date that require adjustments to or disclosure in these

financial statements.

The Board of Directors at a meeting held on 24 th May 2017 proposed a First & Final Dividend of Rs 2.00 per Share for the Financial Year ended 31 st March

2017 As required by Section 56 (2) of the Companies Act No 7 of 2007, the Board of Directors has confirmed that the Company satisfies the Solvency test in

accordance with Section 57 of the Companies Act No 7of 2007 and has obtained a certificate from the auditors, prior to declaring a First & Final Divedend

which is to be paid on the 14 th of June 2017.

John Keells PLC - CSE · John Keells PLC CONSOLIDATED CASH FLOW STATEMENT For the year ended 31 st...

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