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LAUGFS GAS PLC INTERIM REPORT FOR THE QUARTER ENDED 30 JUNE 2017

CHAIRMAN’S MESSAGE

Dear Stakeholder,

LAUGFS Gas PLC, as a pioneering and trusted diversified conglomerate which is aggressively expanding its

footprint both locally and globally, has continued to focus on capitalizing on emerging investment opportunities

with tremendous growth potential, which are geared to bring in long term returns and benefits to the Company

and its stakeholders. Some of the large scale investments for growth by the Company include Renewable

Energy, LPG Import & Export Terminal facilities, Real Estate, Leisure and Maritime Services.

Whilst investments made in some areas such as Renewable Energy sector are already yielding profits, certain

other long term investments will be of longer gestation periods. This coupled with the Company’s core business

of LPG downstream activities having to continue under the prevailing retail price restrictions whilst LPG prices in

the global market are surging, has resulted in the finances for this quarter recording a Loss after tax Rs.508 Mn.

In order to effectively address this situation, which we believe is temporary, the Company is in a continuous

dialogue with the relevant regulatory authorities in order to ensure that LPG retail prices are in line with global

LPG market prices, so that the Company’s main source of revenue is secured. We are confident that we will

receive a positive response in this regard very soon. In addition to the aforementioned, the Company is also

pursuing strategic partnerships in order to enhance funding and create requisite marketing channels and

opportunities which will no doubt bring in the expected returns in the years to come.

(Sgd.).

W. K. H. Wegapitiya Chairman/Group CEO

14th August 2017

1

LAUGFS Gas PLC

CONSOLIDATED STATEMENT OF PROFIT OR LOSSFor the quarter ended 30 June 2017

Audited

2017 2016 Change 2017

Rs. '000 Rs. '000 % Rs. '000

Revenue 5,175,684 3,915,651 32 18,065,452

Cost of Sales (4,393,392) (2,966,525) 48 (13,890,580)

Gross Profit 782,292 949,126 (18) 4,174,872

Other Operating Income 114,770 97,282 18 380,584

Selling and Distribution Expenses (395,859) (235,402) 68 (1,091,888)

Administrative Expenses (491,917) (425,856) 16 (2,366,813)

Foreign Currency Exchange Gains/(Loss) (7,469) (9,061) (18) (50,998)

Operating Profit 1,818 376,089 (100) 1,045,758

Finance Costs (534,416) (247,920) 116 (1,549,902)

Fair Value Gain on Investment Properties - - - 38,316

Finance Income 18,268 18,861 (3) 81,810

Profit /(Loss) Before Tax (514,330) 147,031 (450) (384,019)

Income Tax Expense 58,546 (110,508) 153 (243,296)

Profit/(Loss) for the Period (455,784) 36,523 (1,348) (627,315)

Attributable to:

Equity Holders of the Parent (455,784) 25,811 (638,026)

Non-Controlling Interests - 10,712 10,712

(455,784) 36,523 (627,315)

Earnings /(Loss) Per Share :

Basic/Diluted (Rs.) (1.18) 0.07 (1.65)

attributable to Ordinary Equity Holders of the Parent

Note : Change % column represents the percentage change in current period's results compared to previous period

The above figures are subject to audit.

Figures in brackets indicates deductions.

The accounting policies and notes on pages 13 to 17 form an integral part of these financial statements.

Quarter ended 30 June

Unaudited

Year ended 31

March

2

LAUGFS Gas PLC

CONSOLIDATED STATEMENT OF OTHER COMPREHENSIVE INCOMEFor the quarter ended 30 June 2017

Audited

2017 2016 Change 2017

Rs. '000 Rs. '000 % Rs. '000

Profit/(Loss) for the Period (455,784) 36,523 (1,348) (627,315)

Other Comprehensive Income

Gain/(Loss) on Available for Sale Financial Assets 20,546 10,181 102 2,913

Reclassification to Profit or Loss as Impairment on Available for

Sale Financial Assets - - - 122,300

Exchange Differences in Translation of Foreign Operations 22,080 22,719 (3) 118,427

Surplus on Revaluation of Assets Transfered to Investment

Properties - - - 136,520

Income Tax Effect - - - (23,961)

42,627 32,901 30 356,199

Actuarial Gains/(Losses) on Defined Benefit Liability - - - 20,055


- - - 13,877

Other Comprehensive Income for the Period Net of Tax 42,627 32,901 30 370,076

Total Comprehensive Income/(Loss) for the Period Net of Tax (413,157) 69,424 (695) (257,238)

Attributable to:

Equity Holders of the Parent (413,157) 60,069 (266,593)

Non-Controlling Interests - 9,355 9,355

(413,157) 69,424 (257,238)


Year ended 31

March

Net Other Comprehensive Income not to be Reclassified to

Profit or Loss in Subsequent Periods

Unaudited


Other Comprehensive Income to be Reclassified to Profit or Loss

in Subsequent Periods (Net of Tax) :

Net Other Comprehensive Income to be Reclassified to Profit or

Loss in Subsequent Periods

Other Comprehensive Income not to be Reclassified to Profit or

Loss in Subsequent Periods (Net of Tax) :

3

LAUGFS Gas PLC 0.0 0 (0.00)

CONSOLIDATED STATEMENT OF FINANCIAL POSITIONAs at 30 June 2017

Unaudited Unaudited Audited

As at As at As at

30.06.2017 30.06.2016 31.03.2017

ASSETS Rs. '000 Rs. '000 Rs. '000

Non-Current Assets

Property, Plant and Equipment 23,081,227 17,461,724 22,625,858

Investment Properties 2,281,029 735,500 2,270,800

Intangible Assets 3,098,834 3,055,712 3,088,813

Prepayments 102,115 111,300 105,751

Deferred Tax Assets 18,602 14,251 17,394

Other Non-Current Financial Assets 145,378 129,474 122,828

28,727,185 21,507,961 28,231,444

Current Assets

Inventories 1,115,039 601,610 1,428,210

Trade and Other Receivables 3,482,629 4,055,534 3,822,731

Prepayments 301,217 53,289 85,250

Income Tax Recoverable 219,434 164,505 205,100

Other Current Financial Assets 2,575 2,604 2,692

Cash and Short-Term Deposits 1,943,062 2,534,489 2,058,564

7,063,956 7,412,031 7,602,549

Total Assets 35,791,141 28,919,992 35,833,993

EQUITY AND LIABILITIES

Capital and Reserves

Stated Capital 3,285,000 3,285,000 3,285,000

Available for Sale Reserve (173,209) (308,787) (193,756)

Revaluation Reserve 112,559 - 112,559

Foreign Currency Translation Reserve 208,887 91,788 186,807

Retained Earnings 3,803,611 4,927,354 4,253,763

Equity attributable to Equity Holders of the Parent 7,236,849 7,995,355 7,644,374

Non-Controlling Interests - - -

Total Equity 7,236,849 7,995,355 7,644,374

Non-Current Liabilities

Interest Bearing Loans and Borrowings 16,019,385 8,984,164 15,443,240

Deferred Tax Liabilities 587,888 908,869 689,989

Deferred Income 683,819 573,364 670,652

Employee Benefit Liability 272,955 275,027 265,104

Refundable Deposits 2,079,195 1,980,343 2,092,151

19,643,242 12,721,767 19,161,137

Current Liabilities

Trade and Other Payables 3,015,273 1,490,249 3,801,627

Deferred Income 13,217 10,495 14,572

Refundable Deposits 220,841 210,786 222,495

Income Tax Payable 506,189 483,100 653,362


8,911,050 8,202,871 9,028,482

Total Equity and Liabilities 35,791,141 28,919,992 35,833,993

Net Assets Per Share (Rs.) 18.70 20.66 19.75

Note: The above figures are subject to audit.

I certify that these financial statements are in compliance with the requirements of the Companies Act No :07 of 2007.

(Sgd).

Dilshan Perera

Finance Director

(Sgd). (Sgd).

W.K.H.Wegapitiya U.K.Thilak De Silva

Director Director

10 August 2017

Colombo


The Board of Directors is responsible for the preparation and presentation of these financial statements. Signed for and on behalf of the Board by:

4

LAUGFS Gas PLC

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY For the quarter ended 30 June 2017

Stated Retained Available for Revaluation Foreign Currency Total Non-Controlling Total

Capital Earnings Sale Reserve Reserve Translation

Reserve

Interests Equity

Rs. '000 Rs. '000 Rs. '000 Rs. '000 Rs. '000 Rs. '000 Rs. '000 Rs. '000

Balance as at 01 April 2017 3,285,000 4,253,763 (193,756) 112,559 186,807 7,644,374 - 7,644,374

Profit/(Loss) for the quarter - (455,784) - - - (455,784) - (455,784)

Other Comprehensive Income - - 20,546 - 22,080 42,627 - 42,627

Total Comprehensive Income/(Loss) - (455,784) 20,546 - 22,080 (413,157) - (413,157)

Deferred Tax Liability Reversal During the Period - 5,632 - - - 5,632 - 5,632

Balance as at 30 June 2017 3,285,000 3,803,611 (173,209) 112,559 208,887 7,236,849 - 7,236,849

Balance as at 01 April 2016 3,285,000 5,395,273 (318,968) - 48,439 8,409,744 1,195,844 9,605,588

Profit for the quarter - 25,811 - - - 25,811 10,712 36,523

Other Comprehensive Income - - 10,181 - 24,076 34,257 (1,357) 32,901

Total Comprehensive Income - 25,811 10,181 - 24,076 60,069 9,355 69,424

Dividend Paid (Final - 2015/2016) - (387,000) - - - (387,000) - (387,000)

Deferred Tax Liability Reversal During the Period - 6,870 - - - 6,870 290 7,160

Acquisition of Non-Controlling Interests - (113,601) - - 19,273 (94,328) (1,205,488) (1,299,816)

Balance as at 30 June 2016 3,285,000 4,927,354 (308,787) - 91,788 7,995,355 - 7,995,355

Note : The above figures are subject to audit.



Attributable to Equity Holders of the Parent

5

LAUGFS Gas PLC

CONSOLIDATED STATEMENT OF CASH FLOWSFor the quarter ended 30 June 2017

Unaudited Unaudited

2017 2016

Rs. '000 Rs. '000

Cash Flows Generated from/(Used in) Operating Activities

Cash Flows from Operating Activities

Profit/(Loss) Before Tax (514,330) 147,031

Non-Cash Adjustment to Reconcile Profit before Tax to Net Cash Flows:

Amortization of Intangible Assets 6,092 5,871

Decrease in Fair Value of Quoted Equity Securities 118 1,739

Depreciation of Property, Plant and Equipment 308,458 217,564

Finance Costs 534,416 247,920

Finance Income (18,144) (18,268)

Dividend Income (2,411) (1,546)

Provision for Worker's Profit Participation Fund 927 7,540

Provision for Employee Benefit Liability 6,615 7,740

(Profit)/Loss on Disposal of Property, Plant and Equipment 65 (2,166)

Exchange Rate Difference Adjustment 13,514 17,960

Operating Profit Before Working Capital Changes 335,320 631,384

Working Capital Adjustments:

(Increase)/Decrease in Inventories 313,171 292,507

(Increase)/Decrease in Trade and Other Receivables and Prepayments 55,094 (3,149,769)

Increase/(Decrease) in Trade and Other Payables (704,462) 1,635,979

Increase/(Decrease) in Deferred Income 11,812 51,848

Cash Generated Used in Operating Activities 10,935 (538,051)

Employee Benefit Liability Costs Paid (1,680) (32,041)

Finance Costs Paid (534,416) (247,920)

Income Tax Paid (202,327) (10,880)

Refund/Transfers of Refundable Deposits (119,777) (138,300)

Refundable Deposits Received 105,167 246,696

Net Cash Flows Used in Operating Activities (742,098) (720,496)

Cash Flows from / (Used in) Investing Activities

Acquisition of Intangible Assets (4,432) -

Acquisition of Property, Plant and Equipment (754,612) (2,046,687)

Acquisition of Investment Properties (10,229) -

Dividends Received 2,411 1,546

Investments in Quoted Equity Securities (2,004) -

Investments in Subsidiaries - (1,299,816)

Proceeds from Disposal of Property, Plant and Equipment - 9,903

Net Cash Flows Used in Investing Activities (768,866) (3,335,054)

Cash Flows from / (Used in) Financing Activities

Dividend Paid - (387,000)

Finance Income 18,144 18,268

Proceeds from Interest Bearing Loans and Borrowings 4,052,647 5,116,026

Repayment of Interest Bearing Loans and Borrowings (2,721,671) (2,124,680)

Net Cash Flows Used in Financing Activities 1,349,120 2,622,615

Net Increase /(Decrease) in Cash and Cash Equivalent (161,844) (1,432,935)

Cash and Cash Equivalent at the Beginning of the Period 1,416,299 3,388,639

Cash and Cash Equivalent at the End of the Period 1,254,456 1,955,704




6

LAUGFS Gas PLC

COMPANY INCOME STATEMENTFor the quarter ended 30 June 2017

Audited

2017 2016 Change 2017

Rs. '000 Rs. '000 % Rs. '000

Revenue 2,737,337 2,405,354 14 10,386,886

Cost of Sales (2,716,228) (2,024,822) 34 (9,244,996)

Gross Profit 21,108 380,533 (94) 1,141,891

Other Operating Income 113,649 94,137 21 1,156,919

Selling and Distribution Expenses (264,414) (170,373) 55 (735,761)

Administrative Expenses (133,263) (136,145) (2) (792,919)

Foreign Currency Exchange Gains/(Loss) 8,384 (3,682) (328) (24,717)

Operating Profit/(Loss) (254,535) 164,469 (255) 745,412

Finance Costs (353,722) (201,059) 76 (1,225,388)

Fair Value Gain on Investment Properties - - - 26,000

Finance Income 1,074 1,586 (32) 5,654

Profit/(Loss) Before Tax (607,184) (35,004) 1,635 (448,322)

Income Tax Expense 98,682 (34,206) 388 189,194

Profit/(Loss) for the Period (508,502) (69,210) 635 (259,129)

Note : Change % column represents the percentage change in current period's results compared to previous period





Unaudited

Year ended 31

March

7

LAUGFS Gas PLC

COMPANY STATEMENT OF COMPREHENSIVE INCOMEFor the quarter ended 30 June 2017

Audited

2017 2016 Change 2017

Rs. '000 Rs. '000 % Rs. '000

Profit/(Loss) for the Period (508,502) (69,210) 635 (259,129)

Other Comprehensive Income

Gains on Available for Sale Financial Assets 20,546 10,181 102 2,913

Reclassification to Profit or Loss as Impairment on Available for Sale

Financial Assets - - - 122,300

20,546 10,181 102 125,213

Actuarial Gains/(Losses) on Defined Benefit Liability - - - 11,123


- - - 8,898

Other Comprehensive Income/(Loss) for the Year, Net of Tax 20,546 10,181 102 134,111

Total Comprehensive Income/(Loss) for the Period Net of Tax (487,955) (59,029) 727 (125,018)



Unaudited

Net Other Comprehensive Income to be Reclassified to Profit or


Other Comprehensive Income not to be Reclassified to Profit or Loss in

Subsequent Periods (Net of Tax) :

Net Other Comprehensive Income not to be Reclassified to Profit or


Year ended 31

March

8

LAUGFS Gas PLC (0.00) (0.00) 0.00

COMPANY STATEMENT OF FINANCIAL POSITIONAs at 30 June 2017

Unaudited Unaudited Audited

As at As at As at

30.06.2017 30.06.2016 31.03.2017

Rs. '000 Rs. '000 Rs. '000

ASSETS

Non-Current Assets

Property, Plant and Equipment 6,853,347 6,455,845 6,629,727

Investment Properties 761,500 735,500 761,500

Intangible Assets 21,783 35,368 25,177

Investments in Subsidiaries 12,170,337 7,150,337 11,850,337

Other Non-Current Financial Assets 145,378 129,474 122,828

19,952,346 14,506,523 19,389,569

Current Assets

Inventories 324,095 180,705 569,521

Trade and Other Receivables 2,911,348 6,641,683 3,390,784

Prepayments 11,516 12,499 18,879

Income Tax Recoverable 216,055 162,813 202,210

Other Current Financial Assets 2,575 2,604 2,692

Cash and Short-Term Deposits 425,300 204,261 287,878

3,890,889 7,204,565 4,471,965

Total Assets 23,843,235 21,711,089 23,861,534

EQUITY AND LIABILITIES

Capital and Reserves

Stated Capital 3,285,000 3,285,000 3,285,000

Available for Sale Reserve (173,209) (308,787) (193,756)

Retained Earnings 3,711,450 4,410,829 4,215,871

Equity attributable to Equity Holders of the Parent 6,823,241 7,387,042 7,307,115

Total Equity 6,823,241 7,387,042 7,307,115



Deferred Tax Liabilities 489,107 825,877 592,349

Deferred Income 683,819 573,364 670,652

Employee Benefit Liability 60,508 66,008 59,875

Refundable Deposits 1,987,568 1,897,076 2,002,455

11,074,358 7,710,081 11,445,623

Current Liabilities

Trade and Other Payables 1,419,368 1,075,603 1,398,999

Deferred Income 13,217 10,495 14,572

Refundable Deposits 220,841 210,786 222,495


5,945,636 6,613,966 5,108,796

Total Equity and Liabilities 23,843,235 21,711,089 23,861,534

Net Assets Per Share (Rs.) 17.63 19.09 18.88

Note: The above figures are subject to audit.

I certify that these financial statements are in compliance with the requirements of the Companies Act No :07 of 2007.

(Sgd).

Dilshan Perera

Finance Director

(Sgd). (Sgd).

W.K.H.Wegapitiya U.K.Thilak De Silva

Director Director

10 August 2017

Colombo


The Board of Directors is responsible for the preparation and presentation of these financial statements. Signed for and on behalf of the Board by:

9

LAUGFS Gas PLC

COMPANY STATEMENT OF CHANGES IN EQUITY For the quarter ended 30 June 2017

Stated Retained Available for Total

Capital Earnings Sale Reserve

Rs. '000 Rs. '000 Rs. '000 Rs. '000

Balance as at 01 April 2017 3,285,000 4,215,871 (193,756) 7,307,115

Profit/(Loss) for the quarter - (508,502) - (508,502)

Other Comprehensive Income - - 20,546 20,546

Total Comprehensive Income/(Loss) - (508,502) 20,546 (487,955)

Deferred Tax Liability Reversal during the Period - 4,082 - 4,082

Balance as at 30 June 2017 3,285,000 3,711,450 (173,209) 6,823,242

Balance as at 01 April 2016 3,285,000 4,862,981 (318,968) 7,829,013

Profit/(Loss) for the quarter - (69,210) - (69,210)

Other Comprehensive Income - - 10,181 10,181

Total Comprehensive Income/(Loss) - (69,210) 10,181 (59,029)

Dividend Paid (Final - 2015/2016) - (387,000) - (387,000)

Deferred Tax Liability Reversal during the Period - 4,059 - 4,059

Balance as at 30 June 2016 3,285,000 4,410,829 (308,787) 7,387,042




10

LAUGFS Gas PLC

COMPANY STATEMENT OF CASH FLOWSFor the quarter ended 30 June 2017

Unaudited Unaudited

2017 2016

Rs. '000 Rs. '000

Cash Flows Generated from/(Used in) Operating Activities

Cash Flows from Operating Activities

Profit/(Loss) Before Tax (607,184) (35,004)

Non-Cash Adjustment to Reconcile Profit before Tax to Net Cash Flows:

Amortization of Intangible Assets 3,394 3,397

Decrease in Fair Value of Quoted Equity Securities 118 1,739

Depreciation of Property, Plant and Equipment 105,393 96,258

Finance Costs 353,722 201,059

Finance Income (1,074) (1,586)

Dividend Income (2,411) (1,546)

Provision for Employee Benefit Liability 2,131 3,438

(Profit)/Loss on Disposal of Property, Plant and Equipment - (2,166)

Exchange Rate Difference Adjustments 7,337 5,540

Operating Profit Before Working Capital Changes (138,574) 271,129

Working Capital Adjustments:

(Increase)/ Decrease in Inventories 245,426 330,562

(Increase)/Decrease in Trade and Other Receivables and Prepayments 486,799 (1,814,491)

Increase/ (Decrease) in Trade and Other Payables 21,666 4,285

Increase/ (Decrease) in Deferred Income 11,812 51,848

Cash Generated Used in Operating Activities 627,128 (1,156,667)

Employee Benefit Liability Costs Paid (1,498) (220)

Finance Costs Paid (353,722) (201,059)

Income Tax Paid (14,323) (135)

Refund/Transfers of Refundable Deposits (119,777) (138,300)

Refundable Deposits Received 103,236 243,945

Net Cash Flows Used in Operating Activities 241,045 (1,252,436)

Cash Flows from / (Used in) Investing Activities

Acquisition of Property, Plant and Equipment (329,014) (396,412)

Dividends Received 2,411 1,546

Investments in Quoted Equity Securities (2,004) -

Investments in Subsidiaries (320,000) (1,351,556)

Proceeds from Disposal of Property, Plant and Equipment - 9,903

Net Cash Flows Used in Investing Activities (648,607) (1,736,519)

Cash Flows from / (Used in) Financing Activities

Dividend Paid - (387,000)

Finance Income 1,074 1,586

Proceeds from Interest Bearing Loans and Borrowings 3,119,087 3,611,095

Repayment of Interest Bearing Loans and Borrowings (2,580,489) (1,955,589)

Net Cash Flows Used in Financing Activities 539,672 1,270,093

Net Increase /(Decrease) in Cash and Cash Equivalent 132,110 (1,718,862)

Cash and Cash Equivalent at the Beginning of the Period (114,131) 1,471,483

Cash and Cash Equivalent at the End of the Period 17,979 (247,379)




11

Operating Segments

2017 2016 2017 2016 2017 2016 2017 2016 2017 2016 2017 2016 2017 2016 2017 2016 2017 2016 2017 2016

Rs. '000 Rs. '000 Rs. '000 Rs. '000 Rs. '000 Rs. '000 Rs. '000 Rs. '000 Rs. '000 Rs. '000 Rs. '000 Rs. '000 Rs. '000 Rs. '000 Rs. '000 Rs. '000 Rs. '000 Rs. '000 Rs. '000 Rs. '000

Revenue

External Customers 2,737,337 2,405,354 1,733,795 1,163,293 302,608 274,348 124,469 56,341 36,846 - 251,300 16,314 - - - - - - 5,186,354 3,915,651

Inter-Segment - - - - - - - - - - - - 360,220 275,422 518,130 448,348 (889,021) (723,770) (10,670) -

Total Revenue 2,737,337 2,405,354 1,733,795 1,163,293 302,608 274,348 124,469 56,341 36,846 - 251,300 16,314 360,220 275,422 518,130 448,348 (889,021) (723,770) 5,175,684 3,915,651

Results

Operating Profit/(Loss) (254,535) 164,469 9,600 134,881 100,600 95,944 (56,697) (35,302) 29,121 (722) 176,870 6,127 97,828 19,614 (74,838) (9,027) (26,131) 104 1,818 376,089

Finance Costs (353,722) (201,059) - - (329) (555) (64,318) (27,250) (8,182) (175) (93,736) (3,927) (14,128) (14,954) - - - - (534,416) (247,920)

Finance Income 1,074 1,586 8,017 8,373 8,787 4,453 73 438 125 33 56 199 137 3,778 - - - - 18,268 18,861

Profit/(Loss) Before Tax (607,184) (35,004) 17,617 143,255 109,058 99,842 (120,942) (62,114) 21,063 (864) 83,190 2,399 83,837 8,439 (74,838) (9,027) (26,131) 104 (514,330) 147,031

Income Tax Expense 98,682 (34,206) (9,500) (54,650) (24,655) (21,643) 23 - (5,908) - (375) - (7) (9) - - 287 - 58,546 (110,508)

Profit/(Loss) for the Quarter (508,502) (69,210) 8,116 88,605 84,402 78,200 (120,920) (62,114) 15,156 (864) 82,815 2,399 83,829 8,430 (74,838) (9,027) (25,844) 104 (455,784) 36,523

Net Profit/(Loss) on Available for Sale Financial Assets 20,546 10,181 - - 44,999 226 - - - - - - - - - - (44,999) (226) 20,546 10,181

Exchange Differences in Translation of Foreign Operations - - 21,712 31,943 - - - - - - - - - - 370 (9,224) - - 22,082 22,719

Total Comprehensive Income for the Quarter Net of Tax (487,955) (59,029) 29,828 120,548 129,402 78,425 (120,920) (62,114) 15,156 (864) 82,815 2,399 83,829 8,430 (74,468) (18,251) (70,843) (122) (413,157) 69,424

Assets & Liabilities

Non-Current Assets

Total Non-Current Assets 19,952,346 14,506,523 1,206,060 935,599 572,563 334,537 5,172,069 4,750,016 1,812,501 1,213,443 5,614,920 1,767,162 4,776,080 2,917,476 1,320,320 1,320,193 (11,699,673) (6,236,988) 28,727,185 21,507,961

Current Assets

Total Current Assets 3,890,889 7,204,565 2,198,997 2,218,939 379,043 560,039 242,962 482,613 239,268 301,294 480,425 1,319,800 1,425,107 812,139 247,668 198,951 (2,040,403) (5,686,309) 7,063,956 7,412,031

Total Assets 35,791,141 28,919,992


Total Non-Current Liabilities 11,074,358 7,710,081 318,399 343,537 48,516 45,449 1,703,707 1,707,780 312,303 238,889 3,423,446 1,498,640 2,767,137 1,177,391 - - (4,624) - 19,643,242 12,721,767

Current Liabilities

Total Current Liabilities 5,945,636 6,613,966 1,386,230 1,113,828 154,675 94,356 1,573,806 2,622,865 160,625 406,963 397,883 1,148,726 1,048,033 1,722,978 268,109 166,386 (2,023,947) (5,687,199) 8,911,050 8,202,871

Total Liabilities 28,554,292 20,924,637



12

Energy- Local Other Services Leisure & Hospitality Property Development Power Eliminations/AdjustmentsEnergy- Overseas

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LAUGFS Gas PLC

NOTES TO THE FINANCIAL STATEMENTS

1 Corporate Information

2 Basis of Preparation

LAUGFS Gas PLC is a public limited liability company incorporated and domiciled in Sri Lanka. Its ordinary voting and non voting shares are listed

on Main Board of Colombo Stock Exchange.

The interim financial statements of the group and company for the Quarter ended 30 June 2017 were authorised for issue by the board of directors on

10 August 2017

The Interim financial statements of LAUGFS Gas PLC have been prepared in accordance with Sri Lanka Accounting Standards comprising of SLFRS

and LKAS (here after referred as "SLFRS") issued by the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) and accounting policies set

out in the Annual Report for the year ended 31 March 2017.

The presentation and classification of the financial statements of the previous year have been amended, where relevant, for better presentation and to

be comparable with those of the current period.

These interim financial statements have been prepared in accordance with Sri Lanka Accounting Standard LKAS 34 - "Interim Financial Reporting".

They should be read in conjunction with the Annual Report for the year ended 31 March 2017.

The interim financial statements have been prepared on a historical cost basis, except for "investment properties", "other non-current financial assets"

and "other current financial assets" which have been measured at fair value.

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LAUGFS Gas PLC


3 Share Information

3.1 Public share holdings

3.2 Directors Share holdings

The number of shares held by the Board of directors are as follows

Ordinary Voting Shares

As at 30-06-2017 31-03-2017

Name of Directors

Mr W K H Wegapitiya 1,411,536 1,411,536

Mr U K Thilak De Silva 1,077,897 1,077,897

Mr H A Ariyaratne 3,900 3,900

Mr C L De Alwis 1,000 1,000

Mr P M Kumarasinghe 4,800 4,800

Mr T K Bandaranayake Nil Nil

Mr. N M Prakash 17,000 17,000

Mr. A R D Perera Nil Nil

Mr. A N Ranasinghe Nil Nil

Ordinary Non Voting Shares

As at 30-06-2017 31-03-2017

Name of Directors

Mr W K H Wegapitiya Nil Nil

Mr U K Thilak De Silva Nil Nil

Mr H A Ariyaratne 3,400 3,400

Mr C L De Alwis 500 500

Mr P M Kumarasinghe Nil Nil

Mr T K Bandaranayake Nil Nil

Mr. N M Prakash Nil Nil

Mr. A R D Perera Nil Nil

Mr. A N Ranasinghe Nil Nil

3.3 Chief Executive Officer's Share holdings


As at 30-06-2017 31-03-2017

Name

Mr Ashan De Silva 12,600 12,600


As at 30-06-2017 31-03-2017

Name

Mr Ashan De Silva 22,500 22,500

Total number of shareholders who hold the public holding as at 30 June 2017 were 9,401 (31 March 2017 were 9,282).

The percentage of ordinary voting shares held by the public as at 30 June 2017 were 25.22% (31 March 2017-25.22%).

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LAUGFS Gas PLC


3.4 Twenty Largest Shareholders of the company are as follows


As at 30-06-2017 31-03-2017

Name of Shareholder No.of Shares % No.of Shares %

1 LAUGFS HOLDINGS LIMITED 246,057,450 73.45 246,057,450 73.45

2 EMPLOYEES PROVIDENT FUND 57,897,800 17.28 57,897,800 17.28

3 SEYLAN BANK PLC / CARLINES HOLDINGS (PRIVATE) LIMITED 2,110,967 0.63 2,094,467 0.63

4 MR W K H WEGAPITIYA 1,411,536 0.42 1,411,536 0.42

5 AMANA BANK PLC / ALMAS ORGANISATION (PVT) LTD 1,358,728 0.41 1,358,728 0.41

6 DEUTSCHE BANK AG AS TRUSTEE FOR NAMAL ACUITY VALUE FUND 1,339,563 0.40 1,339,563 0.40

7 DEUTSCHE BANK AG-NATIONAL EQUITY FUND 1,318,182 0.39 1,318,182 0.39

8 DEUTSCHE BANK AG-NAMAL GROWTH FUND 1,198,934 0.36 1,198,934 0.36

9 MR U K T N DE SILVA 1,077,897 0.32 1,077,897 0.32

10 LAUGFS SUNUP SUPERMARKET (PVT) LTD 1,000,000 0.30 1,000,000 0.30

11 GAS AUTO LANKA LIMITED 922,600 0.28 922,600 0.28

12 MR G Y N MAHINKANDA 779,272 0.23 779,272 0.23

13 MR H D M P SIRIWARDENA 749,000 0.22 749,000 0.22

14 MR M K DE VOS & MRS D J DE VOS 700,000 0.21 810,000 0.24

15 MR. H A VAN STARREX 358,441 0.11 354,939 0.11

16 EMPLOYEES TRUST FUND BOARD 205,304 0.06 205,304 0.06

17 MR. C S KARIYAWASAN 200,000 0.06 221,716 0.07

18 CEYLON BISCUITS LIMITED 170,000 0.05 170,000 0.05

19 BANK OF CEYLON NO. 1 ACCOUNT 168,727 0.05 168,727 0.05

20 MRS C N G NARAYANA 162,300 0.05 162,300 0.05

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LAUGFS Gas PLC


3.5 Twenty Largest Shareholders of the company are as follows


As at

Name of Shareholder No.of Shares % No.of Shares %

1 EMPLOYEES PROVIDENT FUND 18,041,300 34.69 18,041,300 34.69

2 HSBC INTL NOM LTD - STATE STREET LUXEMBOURG C/O SSBT -

ALLIANCEBERNSTEIN NEXT 50 EMERGING MARKETS (MASTER) FUND

SICAV-SIF S.C.SP.

3,846,247 7.40 3,846,247 7.40

3 BANK OF CEYLON NO. 1 ACCOUNT 3,420,538 6.58 3,420,538 6.58

4DEUTSCHE BANK AG AS TRUSTEE FOR J B VANTAGE VALUE EQUITY FUND 2,505,696 4.82 2,505,696 4.82

5 SEYLAN BANK PLC/ CARLINES HOLDINGS (PRIVATE) LIMITED 2,254,064 4.33 2,083,382 4.01

6 AMANA BANK PLC / ALMAS ORGANISATION (PVT) LIMITED 1,121,590 2.16 1,121,590 2.16

7 J. B. COCOSHELL (PVT) LTD 1,075,000 2.07 1,075,000 2.07

8 MR. A.M. WEERASINGHE 813,471 1.56 813,471 1.56

9 COMMERCIAL BANK OF CEYLON PLC/DUNAMIS CAPITAL PLC 798,906 1.54 872,812 1.68

10 SANDWAVE LIMITED 748,931 1.44 748,931 1.44

11 DEUTSCHE BANK AG - NATIONAL EQUITY FUND 663,000 1.28 663,000 1.28

12 SEYLAN BANK PLC / S R FERNANDO 502,018 0.97 502,018 0.97

13 MR. G H I JAFFERJEE 442,008 0.85 442,008 0.85

14 GOLD INVESTMENT LIMITED 390,000 0.75 390,000 0.75

15 MRS C N G NARAYANA 378,800 0.73 378,800 0.73

16 MRS S D AMARASINGHE 372,400 0.72 372,400 0.72

17 NARATHA VENTURES (PRIVATE) LIMITED 308,000 0.59 308,000 0.59

18 PERSHING LLC S/A AVERBACH GRAUSON & CO. 307,604 0.59 941,392 1.81

19 MR. M A VALABHJI 280,000 0.54 280,000 0.54

20 PAN ASIA BANKING CORPORATION PLC / CEYLON AND FOREIGN TRADES

PLC 177,000 0.34 177,000 0.34

3.6 Stated Capital

Stated Capital is represented by number of shares in issue as given below.

As at 30-06-2017 31-03-2017

Ordinary voting shares 335,000,086 335,000,086

Ordinary non voting shares 52,000,000 52,000,000

387,000,086 387,000,086

30-06-2017 31-03-2017

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LAUGFS Gas PLC


3.7 Market price per share

For the three months ended

Voting Non Voting Voting Non Voting

Share Share Share Share

Highest 32.00 27.50 45.50 42.00

Lowest 26.00 23.00 35.00 34.00

Last Traded 28.00 24.80 36.20 34.10

4 Contingencies, capital and other commitments

5 Events occurring after the reporting date

30-06-2017 31-03-2017

Rs. Rs.

There has been no significant change in the nature of the contingencies and other commitments, which were disclosed in the

annual report for the year ended 31 March 2017.

There have been no material events occurring after the reporting date that require adjustments to or disclosure in the financial

statements.

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Name of the company : LAUGFS Gas PLC

Company No : PV - 8330 PB/PQ

Legal Form : A Public Quoted Company with Limited Liability

Subsidiaries : LAUGFS Gas (Bangladesh) Ltd.

LAUGFS Eco Sri (Pvt) Ltd.

LAUGFS Leisure Ltd.

LAUGFS Property Developers (Pvt) Ltd.

LAUGFS Power Ltd.

LAUGFS Maritime Services (Pvt) Ltd.

SLOGAL Energy DMCC

LAUGFS Terminals Ltd.

Sub Subsidiaries : LAUGFS Hotel Management Services (Pvt) Ltd.

Anantaya Wadduwa (Pvt) Ltd.

Anantaya Passekudah (Pvt) Ltd.

Anorchi Lanka (Pvt) Ltd.

Iris Eco Power Lanka (Pvt) Ltd.

Ginigathhena Thiniyagala Mini Hydro Power (Pvt) Ltd.

Pams Power (Pvt) Ltd.

LAUGFS Maldives (Pvt) Ltd

Parent Enterprise :

Board Of Directors : Mr.W.K.H.Wegapitiya (Chairman/ Group CEO)

Mr.U.K.Thilak De Silva (Group Managing Director)

Mr.H.A.Ariyaratne.

Mr.T.K.Bandaranayake.

Mr.C.L.De Alwis.

Mr.P.M.Kumarasinghe PC.

Mr. N M Prakash.

Mr. A R D Perera

Mr. A N Ranasinghe

Bankers : Commercial Bank of Ceylon PLC.

Hatton National Bank PLC.

People's Bank.

Bank of Ceylon.

Seylan Bank PLC.

DFCC Bank PLC.

Union Bank of Colombo PLC.

Standard Chartered Bank.

Pan Asia Banking Corporation PLC.

MCB Bank Ltd.

Hongkong and Shanghai Banking Corporation Ltd.

Auditors : Ernst & Young.

(Chartered Accountants)

# 201, De Saram Place,

Colombo 10,

Sri Lanka.

Secretaries : Corporate Advisory Services (Pvt) Ltd.

# 47, Alexandra Place, Colombo 07,

Sri Lanka.

Registrars : P W Corporate Secretarial (Pvt) Ltd.

# 3/17, Kinsey Road, Colombo 08,

Sri Lanka.

Registered Office : # 101, Maya Avenue,

Colombo 06,Sri Lanka.

Corporate Website : www.laugfs.lk

www.laugfsgas.lk

Corporate Information

The Company's holding Company and controlling entity is

LAUGFS Holdings Limited, which is incorporated in Sri Lanka.

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http://www.laugfsgas.lk/#

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