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SJL
SJL
SJL - S & J Land Holdings - Condensed consolidated interim results for the six
months ended 31 December 2006
S & J Land Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1988/000139/06)
Share code: SJL & ISIN: ZAE000009965
("the company")
CONDENSED CONSOLIDATED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 DECEMBER
2006
CONDENSED CONSOLIDATED INTERIM INCOME STATEMENTS
Audited
Six months ended Year ended
31 December 30 June
2006 2005 2006
R` 000 R` 000 R` 000
Revenue 452 516 938
Operating loss before financing costs (532) (551) (352)
Results from operating activities (532) (551) (352)
Investment income 138 32 39
Profit/(Loss) before taxation (394) (519) (313)
Taxation - - -
Profit/(Loss) after taxation (394) (519) (313)
Loss for the period (394) (519) (313)
Ordinary shares in issue (`000) 2 630 2 630 2 630
Basic earnings/(loss) per share (cents) (1,5) (1,8) (1,2)
Diluted earnings/(loss) per share (cents) (1,5) (1,8) (1,2)
Reconciliation between basic earnings/(loss)
and headline earnings/(loss)
Basic earnings/(loss) (394) (519) (313)
Headline earnings/(loss) (394) (519) (313)
CONDENSED CONSOLIDATED INTERIM BALANCE SHEET
Audited
As at
As at 31 December 30 June
2006 2005 2006
R` 000 R` 000 R` 000
ASSETS
Property, plant and equipment - 4 -
Investment properties 40 500 46 785 40 635
Intangible assets - - -
Total non-current assets 40 500 46 789 40 635
Trade and other receivables 5 975 445 5 954
Cash and cash equivalents 2 112 1 659 2 408
Total current assets 8 087 2 104 8 362
TOTAL ASSETS 48 587 48 893 48 997
EQUITY
Share capital and premium 35 859 35 859 35 859
Retained earnings 12 212 12 400 12 606
Total equity 48 071 48 259 48 465
Liabilities
Trade and other payables 45 69 102
Taxation - - -
Provisions 101 195 60
Shareholders for dividend 370 370 370
Total current liabilities 516 634 532
Total liabilities 516 634 532
TOTAL EQUITY AND LIABILITIES 48 587 48 893 48 997
Net asset value per share (cents) 184.7 197.3 199.9
STATEMENT OF CHANGES IN EQUITY
Audited
As at
As at 31 December 30 June
2006 2005 2006
R` 000 R` 000 R` 000
Equity at the beginning of the period 48 465 48 778 48 778
Retained earnings (394) (519) (313)
Dividends paid - - -
Equity at the end of the period 48 071 48 259 48 465
CONDENSED CONSOLIDATED INTERIM STATEMENT OF CASH FLOWS
Audited
Six months ended Year ended
31 December 30 June
2006 2005 2006
R` 000 R` 000 R` 000
Cash flows from operating activities (431) (1 177) (578)
Cash absorbed by operations (569) (1 209) (7 137)
Interest received 138 32 39
Normal taxation paid - - -
Dividend paid - - -
Cash flows from investing activities 135 (12) 1 916
Property, plant and equipment acquired - (12) -
Proceeds on disposal of property 135 - 6 658
Net (decrease)/increase in cash
and cash equivalents (296) (1 189) (440)
Cash and cash equivalents at the
beginning of the year 2 408 2 848 2 848
Cash and cash equivalents at end of period 2 112 1 659 2 408
Comments on the interim results
Turnover was derived from the letting of property, no sales were finalised
during the period. No progress was made with the clearance of the remaining
dumps. Discussions are taking place with the parties responsible to establish
the material still to be removed and a time table to clear the material.
A quantity of uneconomic material will remain which will have an impact on the
full development potential of the property. No provision has been made for
environmental rehabilitation as these expenses will only be quantifiable when
the clearance of the dumps has been completed and the parties responsible have
obtained closure certificates from the Department of Mineral and Energy
Affairs, which process is not expected to be completed before the end of 2008.
Dividend
No dividend has been declared or recommended for this period.
Preparation of the interim results
The interim results have been prepared in accordance with International
Financial Reporting Standards on a basis consistent with that for the year
ended 30 June 2006.
For and on behalf of the Board of Directors
DCL WASSUNG 29 March 2007
Transfer Secretaries Registered office
Computershare Investor Services 2004 202, Sandhurst Centre
(Proprietary) Limited 60 Rivonia Road,
70 Marshall Street, Johannesburg, 2001 Chislehurston, Johannesburg,
2196 (PO Box 61051, Marshalltown, 2107) (PO Box 1470, Fontainebleau, 2032)
Sponsor
LPC Manhattan Moela
LPC Manhattan Moela (Pty) Ltd
(Registration number 2001/009215/07)
Date: 29/03/2007 15:10:01 Produced by the JSE SENS Department.
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