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Financial Reports
  Annual Report of the Board of directors for the year    ended 31 december 2008
  Statement of the Directors’ Responsibility for the    preparation of Financial Statements
  Audit Committee Report
  Independent Auditors' Report
  Income Statement
  Balance Sheet
  Consolidated Statement of Changes in Equity
  Cash Flow Statement
  Notes to the consolidated Financial Statements
  Ten Year Progress
 
  		 

BALANCE SHEET
(All amounts in Sri Lanka Rupees millions)   Group Company
As at 31 December 2008 Notes 2008 2007 2008 2007
Assets
Non-current assets
Property, plant & equipment 15 57,072 53,881 38,489 41,350
Intangible assets 16 2,165 1,614 632 376
Investments in subsidiaries 17 – – 10,172 7,782
Advance against investments 17 – – 30 –
Non-current receivables 18 1,572 1,268 1,572 1,268
60,809 56,763 50,895 50,776
Current assets
Inventories 19 2,583 1,476 2,330 1,373
Trade and other receivables 20 11,060 9,938 10,779 10,064
Cash and cash equivalents 21 18,746 17,195 17,971 16,689
32,389 28,609 31,080 28,126
Total assets 93,198 85,372 81,975 78,902
Equity
Capital and reserves
Stated capital 29 18,049 18,049 18,049 18,049
Hedging reserve 30 (32) (58) (32) (58)
Insurance reserve 27 236 204 236 204
Exchange equalisation reserve 1 – – –
Retained earnings 29,270 23,705 31,084 26,288
47,524 41,900 49,337 44,483
Minority interest in equity 31 – – –
Total equity 47,555 41,900 49,337 44,483
Deferred income 24 4,932 5,529 4,932 5,529
LIABILITIES
Non-current liabilities
Grants 61 68 61 68
Borrowings 22 5,228 16,660 680 12,366
Deferred income tax liabilities 23 1,097 2,777 1,097 2,777
Retirement benefit obligations 26 1,217 1,329 1,144 1,272
Trade and other payables 25 289 279 289 279
7,892 21,113 3,271 16,762
Current liabilities          
Trade and other payables 25 13,163 11,174 8,772 8,537
Current tax liabilities 1,633 1,896 1,619 1,858
Borrowings 22 16,488 2,625 13,154 833
Deferred income 24 1,535 1,135 890 900
32,819 16,830 24,435 12,128
Total liabilities 40,711 37,943 27,706 27,990
Total equity and liabilities 93,198 85,372 81,975 78,902

The Board of Directors is responsible for the preparation and presentation of these Consolidated financial statements. These Consolidated financial statements were approved by the Board of Directors
on 17 February 2009
   
(Sgd.)
Leisha De Silva Chandrasena
Director 		(Sgd.)
Sidath Fernando
Director


I certify that these Consolidated financial statements have been prepared in compliance with the requirements of the Companies Act No. 07 of 2007.

(Sgd.)
Ruwan Silva
Chief Financial Officer

The Notes on pages 77 to 118 form an integral part of these financial statements.
 
 
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