Annual Report 2010-2011 - Colombo Stock Exchange

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Balance Sheet Group Company As at March 31 2011 2010 2011 2010 Note Rs. ‘000 Rs. ‘000 Rs. ‘000 Rs. ‘000 Assets Non-current assets Property, plant and equipment 3 10,001,325 9,512,842 46,404 61,480 Leasehold property 3 605,934 629,919 - - Investment property 3 - - 691,393 699,207 Intangible assets 4 497,279 480,177 - - Investments in subsidiaries 5 - - 2,560,917 2,447,584 Investments in associates 5 456,186 180,919 159,756 37,500 Other investments 5 24,000 - 89,750 95,750 Deferred tax assets 16 - - 36,953 36,953 11,584,724 10,803,857 3,585,173 3,378,474 Current assets Inventories 6 3,341,884 2,464,038 - - Trade and other receivables 7 2,908,800 2,550,148 52,706 67,039 Taxation receivable 180,650 181,874 - 6,957 Amounts due from subsidiaries - - 984,541 1,629,758 Short term investments 8 59,540 42,057 59,540 42,057 Cash at bank and in hand 2,563,859 1,322,843 63,349 266,271 9,054,733 6,560,960 1,160,136 2,012,082 Total assets 20,639,457 17,364,817 4,745,309 5,390,556 Equity and liabilities Equity attributable to equity holders of the parent Stated capital 9 1,627,612 1,578,475 1,627,612 1,578,475 Capital reserves 10 126,901 126,901 10,574 10,574 Revenue reserves 11 3,221,102 2,056,364 617,905 654,962 Foreign currency translation 12 27,314 31,152 - - 5,002,929 3,792,892 2,256,091 2,244,011 Minority interest 1,860,693 1,503,071 - - Total equity 6,863,622 5,295,963 2,256,091 2,244,011 Non-current liabilities Interest bearing borrowings 13 1,998,291 1,957,680 149,084 428,469 Net liability to the lessor payable 14 650,980 672,158 - - Deferred income 15 584,763 528,898 - - Deferred tax liabilities 16 10,589 24,981 - - Employee benefit liabilities 17 1,662,131 1,529,685 48,578 50,141 4,906,754 4,713,402 197,662 478,610 Current liabilities Trade and other payables 18 3,653,146 2,632,913 258,991 232,239 Current portion of interest bearing borrowings 13 1,075,241 1,239,549 275,000 605,000 Current portion of net liability to the lessor 14 21,978 25,394 - - Deposits 2,838 7,746 2,838 7,745 Amounts due to subsidiaries - - 177,515 148,167 Current tax liabilities 309,944 100,559 5,880 - Short term borrowings 19 3,805,934 3,349,291 1,571,332 1,674,784 8,869,081 7,355,452 2,291,556 2,667,935 Total liabilities 13,775,835 12,068,854 2,489,218 3,146,545 Total equity and liabilities 20,639,457 17,364,817 4,745,309 5,390,556 I certify that the financial statements comply with the requirements of the Companies Act No. 7 of 2007 Jagath Dissanayake Group Chief Financial Officer The Board of Directors is responsible for the preparation and presentation of these financial statements. W J Viville Perera J H P Ratnayeke Director Director The accounting policies and notes from pages 67 to 103 form an integral part of these financial statements. 27th May 2011 Richard Pieris and Company PLC | Annual Report 2010/2011 62
Income Statement Group Company 2011 2010 2011 2010 For the year ended March 31 Note Rs. ‘000 Rs. ‘000 Rs. ‘000 Rs. ‘000 Continuing operations Revenue 21 27,241,577 22,339,288 968,388 533,684 Cost of sales (20,631,178) (17,654,136) - - Gross profit 6,610,399 4,685,152 968,388 533,684 Other operating income 22 492,906 355,879 17,483 38,597 Distribution costs (849,644) (658,359) - - Administrative expenses (2,638,251) (2,354,806) (303,251) (237,916) Other operating expenses 23 (165,044) (58,169) - - Profit from operations 24 3,450,366 1,969,697 682,620 334,365 Finance cost 25 (794,617) (969,147) (178,317) (199,776) Profit from operations after finance cost 2,655,749 1,000,550 504,303 134,589 Share of results of associates 26 113,008 59,609 - - Profit before tax 2,768,757 1,060,159 504,303 134,589 Income tax expense 27 (616,566) (330,592) (25,414) - Profit for the year from continuing operations 2,152,191 729,567 478,889 134,589 Discontinued Operations Loss after tax for the year from Discontinued operations 28 (11,609) (17,873) - - Profit for the year 2,140,582 711,694 478,889 134,589 Attributable to: Equity holders of the parent 1,680,684 580,204 Minority interest 459,898 131,490 2,140,582 711,694 Rs. Rs. Earnings/(loss) per share Basic 29 0.87 0.30 Diluted 29 0.84 0.30 Earning per share from continuing operations Basic 29 0.88 0.31 Diluted 29 0.84 0.31 Dividend per share 30 0.30 1.00 Figures in brackets indicate deductions. The accounting policies and notes from pages 67 to 103 form an integral part of these financial statements. 63 Annual Report 2010/2011 | Richard Pieris and Company PLC
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Richard Pieris & Company PLC Annual
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4 Financial Highlights 5 Corporate
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Financial Highlights 2010/2011 2009
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Chairman’s Review Need Image Rich
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Chairman’s Review It gives me gre
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Chairman’s Review Retail The reta
Page 14 and 15: The Board of Directors [1] Dr. Sena
Page 16 and 17: Sector Review - Retail Retail The s
Page 18 and 19: Sector Review - Retail Special even
Page 20 and 21: Sector Review - Plantations The yea
Page 22 and 23: Sector Review - Plantations Organiz
Page 24 and 25: Sector Review - Tyre The Tyre Secto
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Page 28 and 29: Sector Review - Plastics traffic co
Page 30 and 31: Sector Review - Rubber The Group’
Page 32 and 33: Sector Review - Service and Other S
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Page 36 and 37: Corporate Social Responsibility A C
Page 38 and 39: Financial Review Geographical Turno
Page 40 and 41: Financial Review Minority Interest
Page 42 and 43: Financial Review Capital Structure
Page 44 and 45: Risk Management Risk Exposure Group
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Page 48 and 49: Our People Another key factor in th
Page 50 and 51: Group Structure PLASTISHELLS LIMITE
Page 52 and 53: Group Structure ASIAN ALLIANCE INSU
Page 54 and 55: Annual Report of the Board of Direc
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Page 58 and 59: Corporate Governance The Board of D
Page 60 and 61: Report of the Remuneration Committe
Page 62 and 63: Statement of Directors’ Responsib
Page 66 and 67: Cash Flow Statement Group Company 2
Page 68 and 69: Statement of Changes in Equity Attr
Page 70 and 71: Notes to the Financial Statements C
Page 106 and 107: Ten Year Summary Net Turnover Rs. m
Page 108 and 109: Shareholder Information The Ordinar
Page 110 and 111: Group Real Estate Portfolio Freehol
Page 112 and 113: Glossary of Financial Terms Contd.
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Notes Contd. Richard Pieris and Com
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Notice of Meeting NOTICE IS HEREBY
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Form of Proxy Contd. INSTRUCTIONS A
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Richard Pieris & Company PLC 310, H
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Annual Report 2010-2011 - Colombo Stock Exchange

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