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AWT
AWT
AWT - Awethu - Unaudited Results: Six Month Period Ended 31 December 2006
AWETHU BREWERIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration Number: 1992/004352/06)
Share Code: AWT
ISIN Number: ZAE000013769
UNAUDITED RESULTS FOR THE SIX MONTH PERIOD ENDED 31 DECEMBER 2006
ABRIDGED GROUP INCOME STATEMENT
Unaudited Unaudited Audited
6 Months 6 Months Year
ended ended ended
31/12/2006 31/12/2005 30/06/2006
Revenue 5,302,894 1,057,430 2,235,320
Operating profit/(loss) -51,798 -632,963 -819,084
Net interest earned/(paid) -50,846 -206,438
Net profit/(loss) before 952 -632,963 1,025,522
extraordinary item
Extraordinary item - - -
Net profit/(loss) before taxation 952 -632,963 1,025,522
Taxation - - -
Net profit/(loss) for the period 952 -632,963 1,025,522
Supplementary Information
Number of shares in issue 84,556,909 84,556,909 84,556,909
Earnings per share (cents) 0.00 -0.75 1.21
Headline earnings per share 0.00 -0.75 -1.21
(cents)
Dividend per share (cents) - - -
ABRIDGED GROUP BALANCE SHEET
Unaudited Unaudited Audited
6 Months 6 Months Year
ended ended ended
31/12/2006 31/12/2005 30/06/2006
ASSETS
Non-current Assets 5,923,489 6,586,293 6,233,144
Property, plant and equipment 5,923,489 6,586,293 6,233,144
Investments - - -
Current Assets 812,838 122,910 677,515
Accounts receivable 185,181 122,650 236,601
Inventory 581,897 - 437,081
Cash and bank 45,760 260 3,833
Total Assets 6,736,327 6,709,203 6,910,659
EQUITY AND LIABILITIES
Capital and Reserves -5,149,312 -,757,705 -5,150,264
Share capital and reserves -5,149,312 -,757,705 -5,150,264
Non-current Liabilities 8,440,007 7,613,532 8,440,007
Shareholder`s loans - interest 2,025,000 2,025,000 2,025,000
bearing
Shareholder`s loans - non 6,415,007 5,588,532 6,415,007
interest bearing
Current Liabilities 3,445,632 3,853,376 3,620,916
Accounts payable 2,293,717 2,651,461 2,419,001
Provisions 1,151,915 1,201,915 1,201,915
Total Equity and Liabilities 6,736,327 6,709,203 6,910,659
STATEMENT OF CHANGES IN EQUITY
Unaudited Unaudited Audited
6 Months 6 Months Year
ended ended ended
31/12/2006 31/12/2005 30/06/2006
Balance at beginning of period -5,150,264 -4,124,742 -4,124,742
Net profit/(loss) for the period 952 -632,963 -1,025,522
Balance at end of period -5,149,312 -4,757,705 -5,150,264
ABRIDGED GROUP CASH FLOW STATEMENT
Unaudited Unaudited Audited
6 Months 6 Months Year
ended ended ended
31/12/2006 31/12/2005 30/06/2006
Net cash flow from operating 47,001 -160,462 -931,730
activities
Net cash flow from investing -5,074 326,958 275,324
activities
Net cash flow from financing - -171,063 655,412
activities
Net change in cash and bank 41,927 -4,567 -994
Cash and bank at beginning of 3,833 4,827 4,827
period
Cash and bank at end of period 45,760 260 3,833
COMMENTS
Sector: Breweries
Nature of business: The Company manufactures and distributes goods and
services to the informal markets and the mining and catering industry.
ACCOUNTING POLICIES
The accounting policies, as outlined in the 2006 annual report, have been
consistently applied. The abridged annual financial statements have been
prepared in accordance with International Financial Reporting Standards
(IFRS), the interpretations adopted by the International Accounting Standards
Board (IASB) and the requirements of the South African Companies Act. These
statements have been reviewed by Baxters and hence, no audit opinion has been
given. The review report is available for inspection at the registered address
of the company.
SYNOPSIS OF OPERATIONS FOR THE PERIOD
The Ventersdorp mill was in production for the full six months, which resulted
in the 402% increase in turnover for the period.
The mill reported a profit for the six month period. The Carltonville brewery
is still awaiting it`s liquor license and hence, did not trade during the
period, but still incurred some overheads.
FINANCIAL RESULTS
Turnover increased substantially, as mentioned and the company showed a profit
for the period of R952. The depreciation charge for the period was R314 727.
The constantly rising maize price made for difficult trading conditions.
PROSPECTS
As soon as the Carltonville Brewery comes back on line, the directors are
confident the company can show a profit in the immediate future.
On behalf of the Board
TW FORD (Chairman)
29 MARCH 2007
Registered Office:
24 Seriing Street, SE3 Vanderbijlpark, 1911
Directors:TW Ford (Managing), J Barnado (ne), A Venter (ne), I Vermaak
Secretary:JM Caddy
Auditors:Baxters
Transfer secretaries:
Computershare Investor Services 2004 (Pty) Limited
70 Marshall Street, JHB, 2107
Date: 29/03/2007 08:00:00 Produced by the JSE SENS Department.
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