Quarterly Financial Report as of 31-03-2011 - Colombo Stock ...

KOTMALE HOLDINGS PLCNOTES TO THE FINANCIAL STATEMENTSGroupCompanyAs at 31 st March 2011 2010 2011 20101 Net assets per share 17.41 17.01 7.78 12.102 Share Price (Rs.)Jan ~ March2011 2010Highest 80.00 20.50Lowest 46.00 12.75Closing 53.50 16.003The result for the quarter ended 31 st March 2011 and the balance sheet as at 31 st March 2011 are provisional andsubject to audit.4The same accounting policies are followed as in the annual report for the year ended 31 st March 2010.5 Where appropriate, the previous year's presentation has been amended to conform to the current classification.6 The number of shares represented by stated capital as at 31 st March 2011 is 31,400,000.7 There are no contingent assets or contingent liabilities as at 31 st March 2011.8 All known expenditure items have been provided for.9 Kotmale Milk Foods Ltd could not recommence it's commercial operation due to unfavorable condition in the global milk powder market.Therefore, the Board of Directors of the Kotmale Holdings PLC has decided to write off the loan amounting to Rs. 40,605,562 as a financialassistance.10 The Company invested Rs. 30,000,000 for the acquisition of Kotmale Milk Foods Ltd. However, Kotmale Milk Foods Ltd. has not recommence itsoperation during last 13 months. Therefore, the Board of Directors of the Company has decided to provided in full for the above investment.11 No events other than disclosed above, have accrued since the balance sheet date which would require any adjustment or disclosure in thefinancial Statements in the provisional financial statements.06Provisional Financial StatementsTwelve months ended 31st March 2011