| Reviewed Condenced Interim Results for the six months ended 31 August 2009 |
| |
|
CONDENSED GROUP INCOME STATEMENTS |
|
|
Unaudited
6 months ended
31 August
2009
R’000 |
Reviewed
6 months ended
31 August
2008
R’000 |
Audited
12 months ended
28 February
2009
R’000 |
|
|
|
|
|
Revenue
|
155 451 |
190 269 |
339 335 |
|
Cost of sales
|
(107 534) |
(133 925) |
(276 076) |
|
Cost of sales
depreciation
|
(10 776) |
(10 209) |
(19 741) |
|
|
|
|
|
Gross profit
|
37 141 |
46 135 |
43 518 |
|
Other income
|
422 |
396 |
645 |
|
Depreciation
and amortisation
|
(2 680) |
– |
(5 229) |
|
Administration expenses
|
(22 565) |
(26 487) |
(56 593) |
|
|
|
|
|
Profit/(loss) before interest and taxation
|
12 318 |
20 044 |
(17 659) |
| Impairment of goodwill |
(7 553) |
– |
(4 912) |
| Interest received |
1 377 |
3 273 |
4 647 |
| Profit on
disposal of non-current assets |
3 698 |
– |
– |
| Finance costs |
(13 153) |
(4 764) |
(18 124) |
|
|
|
|
|
(Loss)/profit before taxation |
(3 313) |
18 553 |
(36 048) |
| Taxation |
(1 022) |
(6 107) |
7 748 |
|
|
|
|
|
(Loss)/profit attributable to ordinary
shareholders |
(4 335) |
12 446 |
(28 300) |
|
|
|
|
|
Reconciliation of headline earnings: |
|
|
|
| (Loss)/profit
attributable to ordinary shareholders |
(4 335) |
12 446 |
(28 300) |
| Impairment of
goodwill |
7 553 |
– |
4 912 |
| Adjusted for: |
|
|
|
| Profit on disposal of
property, plant and equipment |
(2 662) |
– |
(7) |
|
|
|
|
|
Headline earnings/(loss) attributable to
ordinary shareholders |
556 |
12 446 |
(23 395) |
|
|
|
|
|
Weighted average shares in issue on which
earnings are based |
623 912 911 |
621 194 853 |
622 673 309 |
|
Treasury shares (issued to the Brikor
Share Incentive Scheme) |
15 900 000 |
15 900 000 |
15 900 000 |
|
|
|
|
|
Fully diluted weighted average shares in
issue |
639 812 911 |
637 094 853 |
638 573 309 |
|
|
|
|
|
(Loss)/earnings per share (cents) |
(0,7) |
2,0 |
(4,5) |
|
Headline
earnings/(loss) per share (cents) |
0,1 |
2,0 |
(3,8) |
|
Fully diluted
(loss)/earnings per share (cents) |
(0,7) |
2,0 |
(4,5) |
|
Fully diluted headline
earnings/(loss) per share (cents) |
0,1 |
2,0 |
(3,7) |
|
Dividend per share
(cents) |
– |
1,5 |
1,5 |
|
|
|
|
|
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| CONDENSED
GROUP CASH FLOW STATEMENTS |
|
|
Reviewed
6 months ended
31 August
2009
R’000 |
Reviewed
6 months ended
31 August
2008
R’000 |
Audited
12 months ended
28 February
2009
R’000 |
|
|
|
|
|
Cash flows from operating activities |
(4 432) |
3 270 |
(11 761) |
|
Cash
flow from investing activities |
434 |
(209 182) |
(235 690) |
|
Cash flow from financing
activities |
82 |
128 638 |
138 980 |
|
|
|
|
|
Net increase in cash and cash equivalents |
(3 916) |
(77 274) |
(108 471) |
| Cash
and cash equivalents at beginning of period |
(12 772) |
95 699 |
95 699 |
|
|
|
|
|
Cash and cash equivalents at end of period |
(16 688) |
18 425 |
(12 772) |
|
|
|
|
|
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|
CONDENCED BALANCE SHEET |
|
|
Reviewed
31 August
2009
R’000 |
Reviewed
31 August
2008
R’000 |
Audited
28 February
2009
R’000 |
|
|
|
|
|
ASSETS |
|
|
|
|
Non-current assets |
540 581 |
532 536 |
555 976 |
|
Property, plant and equipment |
|
449 659 |
398 003 |
458 119 |
|
69 484 |
115 297 |
77 037 |
|
18 840 |
18 911 |
19 448 |
|
2 598 |
325 |
1 372 |
|
|
Goodwill |
|
Intangible assets |
|
Other financial assets |
|
Current assets |
151 019 |
171 469 |
131 362 |
|
Inventories |
|
86 238 |
87 169 |
77 337 |
|
59 304 |
60 897 |
49 110 |
|
5 477 |
23 403 |
4 915 |
|
|
Trade and other receivables |
|
Cash and cash equivalents |
|
|
|
|
|
Total assets |
691 600 |
704 005 |
687 338 |
|
|
|
|
|
EQUITY AND LIABILITIES |
|
|
|
|
Equity |
371 544 |
414 924 |
375 579 |
|
Issued capital |
|
62 |
62 |
62 |
|
227 680 |
225 980 |
227 380 |
|
143 802 |
188 882 |
148 137 |
|
|
Share premium |
|
Retained
earnings |
|
Non-current liabilities |
199 585 |
191 821 |
200 054 |
|
Provisions |
|
9 355 |
7 893 |
12 480 |
|
132 900 |
129 041 |
131 274 |
|
57 330 |
54 887 |
56 300 |
|
|
Borrowings
|
|
Deferred taxation |
|
Current liabilities |
120 471 |
97 260 |
111 705 |
|
Trade and other payables |
|
43 350 |
41 781 |
39 466 |
|
38 413 |
31 918 |
39 957 |
|
16 543 |
18 583 |
14 595 |
|
22 165 |
4 978 |
17 687 |
|
|
Borrowings |
|
Taxation |
|
Bank overdraft |
|
|
|
|
|
Total equity and liabilities |
691 600 |
704 005 |
687 338 |
|
|
|
|
|
Capital commitments |
5 000 |
11 020 |
10 000 |
|
Number of shares in
issue at period-end (excluding treasury shares) |
625 240 308 |
621 194 853 |
623 740 308 |
|
Net asset
value per share (cents) |
59,4 |
66,8 |
60,2 |
|
Net tangible asset value per share
(cents) |
45,6 |
45,2 |
45,6 |
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| For the complete
report, please download the PDF here |
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