| 31 December | 31 December | 30 April | 30 April | 30 April | 30 April |
| 2004 | 2003 | 2003 | 2002 | 2001 | 2000 |
| | | (8
months) | | | | |
| Group income
statement (R'000) | | | | | | |
| Revenue | 1 911 873 | 616 524 | 1 158 367 | 1 168 122 | 1 284 543 | 1 347 377 |
| Operating profit/(loss) | 138 414 | 22 704 | (95 957) | 33 139 | (99 671) | 26 668 |
| Negative goodwill | 190 039 | - | - | - | - | - |
| Net financing costs | (10 597) | (12 635) | (25 365) | (26 311) | (30 933) | (25 154) |
| Share of results of joint ventures | 1 247 | (1 964) | (603) | 1 715 | 849 | 389 |
| Profit/(loss) before taxation | 319 103 | 8 105 | (121 925) | 8 543 | (129 755) | 1 903 |
| Taxation | (15 676) | (9) | 29 | (992) | (272) | (397) |
| Minorities' interest | (1 958) | (28) | 18 | (21) | (200) | (155) |
| Net profit/(loss) | 301 469 | 8 068 | (121 878) | 7 530 | (130 227) | 1 351 |
| Group balance sheet (R'000) | | | | | | |
| Shareholders' funds | 879 125 | 203 707 | 56 167 | 179 660 | 168 894 | 301 072 |
| Minorities' interest | 8 841 | 72 | 44 | 453 | 432 | 155 |
| Deferred taxation | 5 740 | - | - | - | 143 | 19 |
| Borrowings | 242 526 | 70 080 | 155 697 | 164 148 | 261 035 | 195 402 |
| Retirement benefit obligation | 40 649 | 9 922 | 12 857 | 11 387 | 13 344 | 15 000 |
| Current liabilities (excluding short term borrowings) | 380 879 | 73 417 | 179 283 | 123 280 | 156 944 | 148 466 |
| Total equity and liabilities | 1 557 760 | 357 198 | 404 048 | 478 928 | 600 792 | 660 114 |
| Property, plant, equipment and investments | 424 849 | 50 695 | 63 554 | 124 191 | 165 348 | 196 960 |
| Deferred taxation | 134 806 | - | - | - | - | - |
| Long term receivables | - | 20 958 | 7 153 | 7 579 | 8 006 | 7 652 |
| Inventories and receivables | 953 092 | 248 300 | 324 366 | 347 158 | 374 637 | 434 696 |
| Cash and cash equivalents | 45 013 | 37 245 | 8 975 | - | 52 801 | 20 806 |
| Total assets | 1 557 760 | 357 198 | 404 048 | 478 928 | 600 792 | 660 114 |
| Group cash flow (R'000) | | | | | | |
| Cash generated from/(utilised by)
operations | 162 294 | 24 063 | 7 139 | 59 238 | (57 260) | 47 752 |
| Working capital changes | (48 161) | (5 820) | 27 952 | (7 530) | 69 670 | (41 094) |
| Interest paid | (19 435) | (22 618) | (26 460) | (26 311) | (30 933) | (25 154) |
| Taxation paid | (13 560) | (199) | (913) | (1 221) | (2 937) | (2 653) |
| Net cash (outflow)/inflow from investing activities | (465 285) | 20 025 | 9 708 | 19 910 | (12 178) | (32 849) |
| Cash (utilised)/generated | (384 147) | 15 451 | 17 426 | 44 086 | (33 638) | (53 998) |
| |
|
|
| 31 December | 31 December | 30 April | 30 April | 30 April | 30 April |
| 2004 | 2003 | 2003 | 2002 | 2001 | 2000 |
| | | (8 months) | | | | |
| Ratios and statistics | | | | | | |
| Profitability | | | | | | |
| Operating profit as
percentage of revenue (%) | 7,24 | 3,68 | (8,28) | 2,84 | (7,76) | 1,98 |
| Net profit as percentage of revenue (%) | 15,77 | 1,31 | (10,52) | 0,65 | (10,12) | 0,11 |
| Return on total net assets (%) | 21,79 | 6,48 | (24,44) | 7,28 | (18,03) | 4,23 |
| Return on shareholders' interest (%) | 34,29 | 3,96 | (216,99) | 4,19 | (77,11) | 0,45 |
| Leverage | | | | | | |
| Ratio of borrowings to
capital and reserves (%) | 27,32 | 34,31 | 277,20 | 91,37 | 154,56 | 64,90 |
| Ratio of debt to capital and reserves (%) | 70,42 | 52,16 | 580,42 | 159,98 | 216,22 | 107,30 |
| Liquidity | | | | | | |
| Current ratio | 1,8 | 2,0 | 1,0 | 1,2 | 1,1 | 1,5 |
| Finance charges cover | 13,1 | (1,4) | 3,6 | (1,3) | 3,2 | (1,1) |
| Productivity | | | | | | |
| Total assets turn | 1,2 | 1,7 | 2,9 | 2,4 | 2,1 | 2,0 |
| Number of employees | 5 272 | 1 689 | 1 921 | 2 153 | 3 177 | 3 399 |
| Assets per employee (Rand) | 295 480 | 211 485 | 210 332 | 222 447 | 189 107 | 194 208 |
| Share statistics | | | | | | |
| Number of shares in
issue (000) | 418 720 | 168 120 | 28 020 | 28 020 | 28 020 | 28 020 |
| Weighted average number of shares issued (000) | 293 412 | 34 882 | 28 020 | 28 020 | 28 020 | 28 020 |
| Headline earnings/(loss) per share (cents) | 35,86 | 24,85 | (311,61) | 43,21 | (364,04) | 12,01 |
| Earnings/(loss) per share (cents) | 102,75 | 23,13 | (434,93) | 26,87 | (464,76) | 4,82 |
| Dividend per share (cents) | 5 | - | - | - | - | - |
| Net asset value per share (cents) | 210,0 | 121,2 | 200,5 | 641,2 | 602,76 | 1 074,49 |
| Total number of shares traded (million) | 40,7 | 10,84 | 0,25 | 0,27 | 0,21 | Not available |
| Total value of shares traded (R million) | 83,7 | 1,85 | 0,54 | 0,79 | 0,76 | Not available |
| Market price at year end (cents) | 300 | 100 | 220 | 220 | 180 | Not available |
| - highest closing price (cents) | 305 | 300 | 380 | 500 | 700 | Not available |
| - lowest closing price (cents) | 50 | 100 | 100 | 140 | 140 | Not available |
| Price to earnings ratio | 8,37 | 4,02 | (0,71) | 5,09 | (0,49) | Not available |
|
During 2003, the company consolidated its share capital on a 1 for 20 basis. All
the comparative financial statistics for prior periods have been restated to
include the above.
Definitions
Return on total net assets
Operating income before net interest paid and taxation including non trading items and associated companies expressed as a
percentage of total assets excluding cash and cash equivalents and intangible assets.
Return on shareholders' interest
Percentage of earnings attributable to shareholders to capital and reserves.
Ratio of borrowings to capital and reserves
The total of interest-bearing liabilities to capital and reserves.
Ratio of debt to capital and reserves
The ratio of total liabilities net of cash resources, excluding deferred
liabilities, to capital and reserves.
Current ratio
The ratio of current assets to current liabilities.
Finance charges cover
The number of times that the net finance charges are covered by operating income.
Basic headline earnings per share
Headline earnings per share divided by the weighted average number of shares in issue.
Basic earnings per share
Income after taxation divided by the weighted average number of shares in issue during the year.
Net asset value per share
Shareholders' interest, including intangible assets, divided by the number of shares in issue.
Price to earnings ratio
Market price per share at year end divided by headline earnings per share. |
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