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Financial Reports

Statement of Changes in Equity - Group

(All amounts in Sri Lanka rupees million)

    Attributable to owners of the Company
Group Notes Stated capital Insurance reserve Retained earnings Total Total equity
Balance as at 1 January 2014   18,049 500 41,240 59,789 59,789
Total comprehensive income for the year            
Net profit for the year 2014   6,001 6,001 6,001
Other comprehensive income            
Defined benefit plan actuarial (loss)/gain, net of tax   (356) (356) (356)
Total other comprehensive income   (356) (356) (356)
Total comprehensive income for the year   5,645 5,645 5,645
Transactions with owners, recorded directly in equity            
Contribution by and distribution to owners            
Dividends to equity shareholders   (1,534) (1,534) (1,534)
Insurance reserve            
Transfer to insurance reserve 27 60 (60)
Balance as at 31 December 2014   18,049 560 45,291 63,900 63,900

    Attributable to owners of the Company
Group Notes Stated capital Insurance reserve Retained earnings Total Total equity
Balance as at 1 January 2015   18,049 560 45,291 63,900 63,900
Super gain tax (Note)   (769) (769) (769)
Balance as at 1 January 2015 (Restated)   18,049 560 44,522 63,131 63,131
Total comprehensive income for the year            
Net profit for the year 2015   3,724 3,724 3,724
Other comprehensive income            
Defined benefit plan actuarial (loss)/gain, net of tax   (9) (9) (9)
Total other comprehensive income   (9) (9) (9)
Total comprehensive income for the year   3,715 3,715 3,715
Transactions with owners, recorded directly in equity            
Contribution by and distribution to owners            
Dividends to equity shareholders   (1,606) (1,606) (1,606)
Insurance reserve            
Transfer to insurance reserve 27 45 (45)
Balance as at 31 December 2015   18,049 605 46,586 65,240 65,240

The Notes form an integral part of these Financial Statements.

Note
As per the provisions of Part iii of the Finance Act, No. 10 of 2015, which was certified on 30 October 2015, the Group was liable for Super Gain Tax (SGT) of Rs. 769 million. According to the Act, SGT was deemed to be expenditure in the Financial Statements relating to the year of assessment which commenced on 1 April 2013. The Act supersedes the requirements of the Sri Lanka Accounting Standards; hence the expense of SGT is accounted in accordance with the requirements of the said Act as recommended by the Statement of Alternative Treatment (SoAT) on Accounting for Super Gain Tax issued by The Institute of Chartered Accountants of Sri Lanka, dated 24 November 2015.