COLD STORES PLC - Company Profile Cold Stores manufacturers and - - PDF document

COLD STORES PLC - Company Profile

Cold Stores at a Glance Cold Stores PLC is a Sri Lankan corporate where its product portfolio presently includes carbonated soft drinks, caffeine based beverages, known in certain parts of the world as energy drinks and natural beverages. The Cold Stores' carbonated soft drinks range include Ginger Soda which contains natural ginger, Cream Cola the popular vanilla flavored youth beverage, raspberry flavored Raspberry Soda,

• range flavored Orange Flush, Lemon Crush, Cold Cola and Soda.

Ginger Soda remains to date the only ginger beer using natural ginger extracts in Sri Lanka and they extract ginger from ginger farms in Pilimatalawa, Daulagala, Danthurai, Hedeniya and Kandy regions of Hatharaliyadda, Pujapitiya and Aludeniya. Caffeine based 'Cold Energy' energy drink and 'Refresh' bottled drinking water brands are also presently manufactured and marketed by Cold Stores which is probably the beverage company with the widest reach in the island. Cold Stores manufacturers and markets a unique brand of ice cream which is the leading frozen confectionery brand both in Sri Lanka and Maldives, where many other international brands are available but humbled. Cold Stores ice cream is probably the best tasting vanilla ice cream in the country and the range extends to other flavours such as mango, strawberry, vanilla and chocolate. Cold Stores concerns Corporate Social Responsibility (CSR) as priority and gives high concern towards the welfare of its employees, suppliers and the society as a whole.

Graduate Diploma in Management Managing Finance COLD STORES PLC Please use the following information to answer the questions in Part A

• f the question paper.

Group Company For the year ended 31st March 2010 2009 2010 2009 In Rs. ‘000 s Revenue 14,363,301 12,690,168 5,264,128 4,967,708 Cost of Sales (12,565,520) (11,049,736) (3,539,973) (3,363,058) Gross Profit 1,797,781 1,640,432 1,724,155 1,604,650 Other Operating Income 304,068 226,435 79,167 58,245 Distribution Expenses (903,808) (884,441) (832,243) (809,875) Administrative Expenses (452,334) (438,342) (262,699) (259,112) Other Operating Expenses (203,843) (83,133) (170,939) (59,915) Finance Expenses (121,713) (192,606) (67,902) (131,818) Profit Before Tax 420,151 268,345 469,539 402,175 Tax Expense (191,277) (128,731) (189,533) (158,970) Profit for the Year 228,874 139,614 280,006 243,205 Basic Earnings Per Share 10.60 6.46 12.96 11.26 Dividend Per Share - Paid 4.00 1.00 4.00 1.00

Income Statement

Cold Stores PLC

Group Company As at 31st March 2010 2009 2010 2009 In Rs. ‘000 s ASSETS Non-Current Assets Property, Plant and Equipment 3,480,787 3,599,815 2,637,435 2,725,641 Intangible Assets 115,006 115,006

• Investments in Subsidiaries
• 522,892

522,892 Other Investments

• 3,100
• 3,100

Deferred Tax Assets 64,299 55,432

• Other Non Current Assets

367,431 471,172 352,306 452,039 4,027,523 4,244,525 3,512,633 3,703,672 Current Assets Inventories 1,368,845 1,209,693 347,143 404,814 Trade and Other Receivable 853,859 903,132 520,135 585,339 Tax Recoverable 95,205 79,924

• Amounts Due from Related Parties

13,003 14,539 7,162 10,924 Short Term Loans to Related Companies

• 727
• Short Term Investment

33,000

• 30,000
• Cash in Hand and at Bank

95,003 37,683 55,709 2,052 2,458,915 2,245,698 960,149 1,003,129 Total Assets 6,486,438 6,490,223 4,472,782 4,706,801 EQUITY AND LIABILITIES Stated Capital 270,200 270,200 270,200 270,200 Capital Reserves 1,155,779 1,155,779 1,155,779 1,155,779 Revenue Reserves 1,211,362 1,068,902 1,370,595 1,177,003 2,637,341 2,494,881 2,796,574 2,602,982 Non-Current Liabilities Interest Bearing Borrowings 142,817 380,300 142,817 283,574 Interest Bearing Borrowings from Related Parties 58,000 40,000

• Deferred Tax Liabilities

96,698 129,575 96,698 129,575 Employee Benefit Liability 280,319 245,647 239,416 211,525 Deposits with the Company 216,400 274,576 216,400 274,576 794,234 1,070,098 695,331 899,250 Current Liabilities Trade and Other Payables 2,078,336 1,592,456 737,184 577,245 Amounts Due to Related Parties 110,881 108,314 11,371 15,654 Income Tax Liabilities 91,292 157,336 90,141 157,360 Short Term Borrowings from Related Companies 164,164 50,921

• 18,757

Current Portion of Long Term Interest Bearing Borrowings 140,757 178,257 140,757 140,757 Bank Overdrafts 469,433 837,960 1,424 294,796 3,054,863 2,925,244 980,877 1,204,569 Total Equity and Liabilities 6,486,438 6,490,223 4,472,782 4,706,801

Balance Sheet

Cold Stores PLC