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THE LIGHTHOUSE HOTEL PLC Company Registration Number - PQ 73

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THE LIGHTHOUSE HOTEL PLC Company Registration Number - PQ 73 THE LIGHTHOUSE HOTEL PLC Company Registration Number - PQ 73 INTERIM REPORT Second Quarter SIX MONTHS ENDED 30TH SEPTEMBER 2020 THE LIGHTHOUSE HOTEL PLC CORPORATE INFORMATION NAME OF COMPANY The Lighthouse Hotel PLC Company Number PQ 73 LEGAL FORM A Quoted Public Company with Limited Liability incorporated in Sri Lanka in 1994 BOARD OF DIRECTORS N.J.H.M.Cooray - Chairman R.A.E.Samarasinghe - Managing Director N.T.M.S.Cooray (Ms) N.Wadugodapitiya C.S.R.S.Anthony Ranil de Silva E.P.A.Cooray A.M.Ondaatjie (Ms) C.Pathiraja (Dr) T.Nadesan A.T.P.Edirisinghe SECRETARIES Corporate Services (Pvt) Ltd 216, De Saram Place Colombo 10. Phone : 4718200 AUDITORS Messrs Ernst & Young Chartered Accountants 201, De Saram Place Colombo 10. HOTEL OPERATION & MARKETING Jetwing Hotels Ltd "Jetwing House" 46/26, Nawam Mawatha Colombo 2. Phone : 4709400 E-mail : [email protected] Web : www.jetwinghotels.com REGISTERED OFFICE "Jetwing House" 46/26, Nawam Mawatha Colombo 2. Page 1 of 12 THE LIGHTHOUSE HOTEL PLC INVESTOR INFORMATION Market Value of Shares 30.09.2020 30.09.2019 (Rs.) (Rs.) Last traded price 28.90 33.90 Highest price recorded for the six months ending 34.00 36.00 Lowest price recorded for the six months ending 18.00 20.40 Highest price recorded for the three months ending 34.00 36.00 Lowest price recorded for the three months ending 25.70 25.00 Market Capitalisation (Rs.Mn.) 1,329 1,559 Ratios Net assets per share 67.35 62.09 (Rs 69.40 as at 31.03.2020) Share trading for the six months ended Number of transactions 246 168 Number of shares traded 737,758 59,002 Value of shares traded (Rs.) 19,197,080 1,655,078 Twenty Largest Shareholders as at 30th September, 2020 Name of Shareholder No of Shares as at % 30.09.2020 01. JETWING HOTELS MANAGEMENT SERVICES (PVT) LTD 18,970,440 41.24 02. MERCANTILE INVESTMENTS AND FINANCE PLC 7,736,677 16.82 03. EMPLOYEES PROVIDENT FUND 5,084,800 11.05 04. BANK OF CEYLON- A/C NO - 2 4,474,620 9.73 05. MISS N.T.M.S.COORAY 1,395,695 3.03 06. MR. N.J.H.M.COORAY 1,354,695 2.94 07. NATIONAL SAVINGS BANK 1,175,667 2.56 08. JETWING TRAVELS (PRIVATE) LIMITED 840,200 1.83 09. Mr D.P. PIERIS 634,018 1.38 10. JETWING ECO HOLIDAYS (PVT) LTD 595,984 1.30 11. THE NUWARA ELIYA HOTELS COMPANY PLC 520,123 1.13 12. MR. D.J. DE SILVA WIJEYERATNE 347,200 0.75 14. FERN HOLDINGS (PRIVATE) LIMITED 280,068 0.61 13. CONFIFI MANAGEMENT SERVICES (PRIVATE) LTD 275,900 0.60 15. CONFIFI INVESTMENTS (PVT) LTD 250,000 0.54 16. MISS. A.M. WIKRAMANAYAKE 105,754 0.23 17. MR. S. MENDIS 100,000 0.22 17. MRS. C.A.D.S. WOODWARD 100,000 0.22 17. MR. I A R PERERA 100,000 0.22 20. SAMPATH BANK PLC/MR. ABISHEK SITHAMPALAM 97,700 0.21 TOTAL 44,439,541 96.61 There were no non voting shares as at 30th September, 2020 31.45% of the issued capital of the Company was held by the public, comprising of 1,187 shareholders and a float adjusted market capitalisation of LKR 418,096,300/- as at 30th September, 2020. In terms of Rule 7.13.1.(b) of the Listing Rules of the Colombo Stock Exchange, the Company qualifies under option 2 of the minimum public holding requirement. Directors' shareholding. Directors Directors' Direct Share holding as at 30th September, 2020 Ms. N.T.M.S. Cooray 1,395,695 Mr. N.J.H.M. Cooray 1,354,695 Mr. R.A.E.Samarasinghe 50,000 Mr. R.de Silva 10,000 Mr. C.S.R.S.Anthony 1,000 There has been no change in the Directors' direct Shareholding during the 06 months ended 30th September, 2020. Page 2 of 12 THE LIGHTHOUSE HOTEL PLC STATEMENT OF FINANCIAL POSITION Group Company Unaudited Audited Unaudited Audited As at 30.09.2020 31.03.2020 30.09.2020 31.03.2020 Rs.'000 Rs.'000 Rs.'000 Rs.'000 ASSETS Non - Current Assets Property, Plant and Equipment 3,564,092 3,616,327 3,293,652 3,340,803 Right of use Assets 2,227 2,242 2,227 2,242 Intangible Assets 494 672 121 151 Investment in Subsidiary - - 225,000 225,000 Other Non-Current Financial Assets 81,559 81,559 81,559 81,559 3,648,372 3,700,800 3,602,559 3,649,755 Current Assets Inventories 24,126 26,279 23,384 25,414 Trade and Other Receivables 47,101 88,385 54,643 90,247 Cash at Bank and in Hand 14,066 21,137 13,944 21,061 85,293 135,801 91,971 136,722 Total Assets 3,733,665 3,836,601 3,694,530 3,786,477 EQUITY AND LIABILITIES Equity Attributable to equity holders of the Parent Stated Capital 460,001 460,001 460,001 460,001 Reserves 2,400,294 2,400,294 2,382,978 2,382,978 Retained Earnings 237,871 332,106 326,006 410,465 3,098,166 3,192,401 3,168,985 3,253,444 Non Controlling Interest - - - - Total Equity 3,098,166 3,192,401 3,168,985 3,253,444 Non-Current Liabilities Post-Employment Benefit Liability 42,045 41,616 41,645 41,324 Interest Bearing Loans & Borrowings 243,000 222,485 161,323 148,948 Deferred Tax Liabilities 176,292 176,292 174,097 174,097 461,337 440,393 377,065 364,369 Current Liabilities Trade and Other Payables 79,197 93,366 71,197 83,927 Current portion of Interest-bearing Loans & Borrowings 94,337 108,726 76,655 83,022 Income Tax Payable 628 1,715 628 1,715 174,162 203,807 148,480 168,664 Total Liabilities 635,499 644,200 525,545 533,033 Total Equity and Liabilities 3,733,665 3,836,601 3,694,530 3,786,477 The Statement of Financial Position as at 30th September 2020, the Statement of Profit or Loss, Statement of Comprehensive Income, Statement of Changes in Equity and Cash Flow Statement for the six months then ended as well as the Statement of Profit or Loss and the Statement of Comprehensive Income for the three months are drawn up from the unaudited financial statements of the Group/Company and they provide the information required by the Colombo Stock Exchange. It is certified that the financial statements have been prepared in compliance with the requirements of the Companies Act No.7 of 2007. C.S.R.S. Anthony Director The Board of Directors is responsible for these financial statements. Signed for and on behalf of the Board by. N.J.H.M. Cooray R.A.E. Samarasinghe Chairman Managing Director 27th October 2020 Colombo Page 3 of 12 THE LIGHTHOUSE HOTEL PLC STATEMENT OF PROFIT OR LOSS - GROUP Audited Unaudited Variance Unaudited Variance Year 6 months Favourable 3 months Favourable ended ended 30th September (Unfavourable) ended 30th September (Unfavourable) 31.03.2020 2020 2019 2020 2019 Rs.'000 Rs.'000 Rs.'000 Rs.'000 Rs.'000 509,568 Revenue 84,791 184,923 -54% 70,613 104,336 -32% (103,203) Cost of Sales (27,525) (44,821) 39% (23,022) (26,631) 14% 406,365 Gross Profit 57,266 140,102 -59% 47,591 77,705 -39% 1,999 Other Income & Gains 1,027 1,022 0% 239 307 -22% (19,780) Marketing & Promotional Expenses (1,559) (6,722) 77% (405) (2,862) 86% (453,990) Administrative Expenses (145,664) (226,561) 36% (80,971) (117,200) 31% (18,704) Finance Cost (5,466) (8,424) 35% (2,834) (5,011) 43% 1,394 Finance Income 193 320 -40% 86 117 -26% (6,777) Exchange Gain/(Loss) from Conversion 1,523 (3,539) 143% 513 (3,293) 116% of Foreign Currency Loan (89,493) Profit/(Loss) Before Tax (92,680) (103,802) 11% (35,781) (50,237) 29% (6,818) Income Tax Expenses (1,555) (3,391) 54% (1,317) (1,922) 31% (96,311) Net Profit/(Loss) for the Period (94,235) (107,193) 12% (37,098) (52,159) 29% Attributable to: (96,311) Equity holders of the Parent Company (94,235) (107,193) (37,098) (52,159) - Non-controlling Interest - - - - (96,311) (94,235) (107,193) (37,098) (52,159) (2.09) Earnings/(Loss) per share for the (2.05) (2.33) (0.81) (1.13) period (Basic)-Rs. Notes 1. Operating profit/(loss) is after Charging following 106,259 Depreciation 54,935 49,901 2. Stated Capital Issued and fully paid 460,001 46,000,000 Ordinary Shares 460,001 460,001 3. Figures in brackets indicate deductions Page 4 of 12 THE LIGHTHOUSE HOTEL PLC STATEMENT OF PROFIT OR LOSS - COMPANY Audited Unaudited Variance Unaudited Variance year 6 months Favourable 3 months Favourable ended ended 30th September (Unfavourable) ended 30th September (Unfavourable) 31.03.2020 2020 2019 2020 2019 Rs.'000 Rs.'000 Rs.'000 Rs.'000 Rs.'000 471,091 Revenue 77,753 172,218 -55% 65,858 97,662 -33% (97,739) Cost of Sales (25,540) (42,621) 40% (21,738) (25,452) 15% 373,352 Gross Profit 52,213 129,597 -60% 44,120 72,210 -39% 1,995 Other Income & Gains 1,027 1,019 1% 239 304 -21% (17,377) Marketing & Promotional Expenses (1,404) (5,942) 76% (286) (2,476) 88% (414,485) Administrative Expenses (131,761) (208,269) 37% (73,439) (107,692) 32% (7,976) Finance Cost (3,596) (3,013) -19% (2,021) (2,478) 18% 2,152 Finance Income 617 305 102% 282 106 166% (62,339) Profit/(Loss) Before Tax (82,904) (86,303) 4% (31,105) (40,026) 22% (9,170) Income Tax Expenses (1,555) (3,391) 54% (1,317) (1,922) 31% (71,509) Net Profit/(Loss) for the Period (84,459) (89,694) 6% (32,422) (41,948) 23% (1.55) Earnings/(Loss) per share for the (1.84) (1.95) (0.70) (0.91) period (Basic)-Rs.
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