Sri Lanka Telecom :: Annual Report 2003

•	Competitive State-of-the-Art Customer Focused

•	Financial Review

•	Risk Management

•	Report of the Directors

•	Statement of the Directors' Responsibilities in Relation to the Financial Statements

•	Report of the Auditors

•	Consolidated Income Statement

•	Consolidated Balance Sheet

•	Consolidated Statement of Changes in Equity

•	Statement of Changes in Equity

•	Consolidated Cash Flow Statement

•	Accounting Policies

•	Notes to the Financial Statements

•	Five Year Progress

•	Value Addition

•	Investor Information

Consolidated Statement of Changes in Equity

(All amounts in Sri Lanka Rupees millions) For the year ended 31 December 2003


	Notes	Insurance reserve	Share capital	Capital reserve	Hedging reserve	Retained earnings	Total

GROUP
Year ended 31 December 2002 Balance at 1 January 2002
- as previously reported	21	86	18,049	188	(888)	19,608	37,043
- prior year adjustment	17	-	-	-	-	(9,849)	(9,849)
- as restated		--------- 86	--------- 18,049	--------- 188	--------- (888)	--------- 9,759	--------- 27,194

Cash flow hedges
- foreign currency translation difference	25	-	-	-	(829)	-	(829)
- charged to income	5	-	-	-	571	-	571
Conversion of associate to subsidiary		-	-		-	(56)	(56)
Dividend for 2001		-	-	-	-	(541)	(541)
Net profit for the year 2002		-	-	-	-	2,685	2,685
Balance at 31 December 2002		--------- 86 ======	--------- 18,049 ======	--------- 188 ======	--------- (1,146) ======	--------- 11,847 ======	--------- 29,024 ======

Year ended 31 December 2003 Balance at 1 January 2003
- as previously reported		86	18,049	188	(1,146)	21,696	38,873
- prior year adjustment	17	-	-	-	-	(9,849)	(9,849)
- as restated		--------- 86	--------- 18,049	--------- 188	--------- (1,146)	--------- 11,847	--------- 29,024

Cash flow hedges
- foreign currency translation difference	25	-	-	-	(208)	-	(208)
- charged to income	5	-	-	-	609	-	609
Insurance reserve - charged to income	21	9	-	-	-	-	9
Dividend for 2002	8	-	-	-	-	(1,083)	(1,083)
Net profit for the year 2003		-	-	-	-	2,249	2,249
Balance at 31 December 2003		--------- 95 ======	--------- 18,049 ======	--------- 188 ======	--------- (745) ======	--------- 13,013 ======	--------- 30,600 ======

	Page Top