Hapugastenne Plantations PLC

1 Hapugastenne Plantations PLC 1. Hapugastenne Plantations PLC. interim Unaudited Financial Statements Nine months ended 30th September 2021. 2 Hapugastenne Plantations PLC. STATEMENT OF PROFIT OR LOSS AND. OTHER COMPREHENSIVE INCOME - GROUP. Three months ended Nine months ended RS. 000 Change Change Unaudited Unaudited % Unaudited Unaudited %. Revenue 959,093 835,449 15 2,910,919 2,391,976 22. Cost of sales (936,642) (824,346) (14) (2,790,618) (2,313,056) (21). Gross profit 22,451 11,103 102 120,301 78,920 52. Other operating income 84,369 34,929 (142) 164,346 102,936 60. Change in fair value of biological assets 185 1,075 (83) (529) 3,671 (114).

2 Administrative expenses (58,396) (68,128) 14 (171,649) (186,220) 8. results from operating activities 48,609 (21,021) 331 112,469 (693) 16,329. Finance cost (39,053) (56,118) 30 (119,239) (136,130) 12. Exchange gain\(loss) 2,095 (2,467) 185 (66,847) (15,359) (335). Finance income 555 389 43 1,678 2,063 (19). Proft/(loss) before taxation 12,206 (79,217) 115 (71,939) (150,119) 52. Income tax 7,417 11,444 (35) 15,690 20,905 (25). Profit/(loss) for the period 19,623 (67,773) 129 (56,249) (129,214) 56. Total comprehensive income/(loss) for the period 19,623 (67,773) 129 (56,249) (129,214) 56. Profit/(loss) attributable to : Owners of the company 19,374 (66,717) (56,216) (123,802).

3 Non-controlling interest 249 (1,056) (33) (5,412). 19,623 (67,773) (56,249) (129,214). Total comprehensive expense attributable to: Owners of the company 19,374 (66,717) (56,216) (123,802). Non-controlling interest 249 (1,056) (33) (5,412). 19,623 (67,773) (56,249) (129,214). Profit/(loss) per share - Rs. ( ) ( ) ( ). Hapugastenne Plantations PLC 3. STATEMENT OF PROFIT OR LOSS AND. OTHER COMPREHENSIVE INCOME - COMPANY. Three months ended Nine months ended RS. 000 Change Change Unaudited Unaudited % Unaudited Unaudited Revenue 924,429 815,645 13 2,808,996 2,349,979 20. Cost of sales (903,140) (799,782) (13) (2,691,929) (2,253,546) (19). Gross profit 21,289 15,863 34 117,067 96,433 21.

4 Other operating income 84,351 34,699 143 164,304 101,971 61. Change in fair value of biological assets 185 1,075 (83) (529) 3,671 (114). Administrative expenses (57,923) (67,655) 14 (169,781) (183,586) 8. results from operating activities 47,902 (16,018) 399 111,061 18,489 501. Finance cost (38,970) (57,905) 33 (117,512) (136,132) 14. Exchange gain/(loss) 2,723 (2,467) 210 (66,847) (15,359) (335). Finance income 10 11 (9) 58 44 32. Proft/loss before taxation 11,665 (76,379) 115 (73,240) (132,958) 45. Income tax 7,417 10,894 (32) 17,062 15,470 10. Profit/loss for the period 19,082 (65,485) 129 (56,178) (117,488) 52. Total comprehensive income/(loss) for the period 19,082 (65,485) 129 (56,178) (117,488) 52.

5 Earnings per share - Rs. ( ) 129 ( ) ( ) 52. 4 Hapugastenne Plantations PLC. STATEMENT OF FINANCIAL POSITION. GROUP COMPANY. As at As at As at As at RS. 000 Unaudited Audited Unaudited Audited ASSETS. Non Current Assets Right to use of assets 470,854 484,706 470,854 484,706. Immovable estate assets on finance lease (other than bare land) 38,298 46,642 38,298 46,642. Tangible assets other than biological assets 530,293 577,352 498,656 541,247. Intangible assets 7,944 13,111 7,768 12,723. Bearer biological assets 1,734,675 1,756,274 1,734,675 1,756,274. Consumable biological assets 1,426,699 1,426,514 1,426,699 1,426,514. Investment in subsidiaries - - 35,003 35,003.

6 Lease rental receivable 15,864 15,864 15,864 15,864. Total non current assets 4,224,627 4,320,463 4,227,817 4,318,973. Current Assets Non-harvested produce crop on bearer biological assets 3,401 3,930 3,401 3,930. Lease rental receivable 1,068 1,068 1,068 1,068. Inventory 303,406 365,698 287,723 347,895. Derivative assets 4,981 4,981 4,981 4,981. Trade & other receivables 151,846 95,692 143,714 89,700. Amount due from related companies 36,875 32,926 36,875 40,832. Income tax receivables 3,694 4,120 - - Cash & cash equivalents 95,811 135,929 28,560 75,569. Total current assets 601,082 644,344 506,322 563,975. Total assets 4,825,709 4,964,807 4,734,139 4,882,948.

7 EQUITY & LIABILITIES. Capital & Reserves Stated capital 550,000 550,000 550,000 550,000. (46,315,789 ordinary shares and a golden share ). Accumulated profit/(loss) (34,330) 21,886 (55,090) 1,088. Equity attributable to owners of the company 515,670 571,886 494,910 551,088. Non -controlling interest 47,046 47,079 - - Total equity 562,716 618,965 494,910 551,088. Non Current Liabilities Interest bearing borrowings 90,431 166,659 90,431 166,659. Deferred tax liability 394,996 411,112 388,894 405,955. Deferred income 197,817 195,838 196,906 195,838. Retirement benefit obligations 740,156 717,498 737,021 714,557. Lease liability 423,018 431,282 423,018 431,282.

8 Total non current liabilities 1,846,418 1,922,389 1,836,270 1,914,291. Current Liabilities Interest bearing borrowings 111,248 185,842 111,248 185,842. Lease liabilities 12,272 12,453 12,272 12,453. Trade & other payables 380,205 526,934 366,589 521,050. Amounts due to related companies 1,550,324 1,361,570 1,550,324 1,361,570. Dividend payable 200 200 200 200. Bank overdraft 362,326 336,454 362,326 336,454. Total current liabilities 2,416,575 2,423,453 2,402,959 2,417,569. Total liabilities 4,262,993 4,345,842 4,239,229 4,331,860. Total equity and liabilities 4,825,709 4,964,807 4,734,139 4,882,948. Net assets per share Rs. It is certified that the financial statements have been prepared in compliance with the requirements of the Company Act No 7 of 2007.

9 B V S Ruwan Director Finance The Board of Directors is responsible for the preparation and presentation of these interim financial statements. Approved and signed for and on behalf of the Board of Directors;. N H G S Jayasinghe D J Ratwatte Chairman/Managing Director Director/CEO. Colombo 10th November 2021. Hapugastenne Plantations PLC 5. STATEMENT OF CASH FLOWS. GROUP COMPANY. Nine months ended Nine months ended 2021 2020 2021 2020. RS. 000 Unaudited Unaudited Unaudited Unaudited CASH FLOWS FROM OPERATING ACTIVITIES. Loss before taxation (71,939) (150,119) (73,240) (132,958). Adjustments for Finance costs 119,239 134,579 117,512 134,579. Exchange loss/(gain) 66,847 15,359 66,847 15,359.

10 Retirement benefit obligations 76,308 93,589 75,986 93,076. Amortisation of grant (5,962) (5,920) (5,920) (5,920). Depreciation 133,136 136,919 127,931 130,697. Interest Income (1,678) (2,063) (58) (33). Provision for impairment of trade and other receivables - 1,977 - 1,977. (Gain)/loss on fair valuation of consumable biological assets 529 (3,671) 529 (3,671). (Gain)/loss on fair valuation of other financial assets - 8,609 - 8,609. Operating profit before working capital changes 316,480 229,259 309,587 241,715. (Increase)/decrease in inventories 62,292 7,199 60,172 (5,911). (Increase)/decrease in trade and other receivables (56,154) (7,021) (54,014) 3,193.