Shops for Africa is currently a subsidiary of Trematon. During the liquidation period the company was not required to produce audited financial results. The company is no longer in liquidation and has produced audited annual financial results for all relevant historic periods. The financial year-end of the company has been changed from April to August in order to coincide with its holding company.
The primary component of income is interest received on cash deposits and interest received on the holdings of ApexHi units. The company had no employees during the period under review and no directors' fees were paid. Shops for Africa's investments consist exclusively of units in ApexHi which had a value of R22.8 million as at 28 February 2007. Cash on hand amounted to R9.2 million. The reported net asset value per share of 40c includes the full fair value of all investments. The group reported a profit of R1.06 million for the six months ended 28 February 07 with headline earnings of 1.0cps.
Outlook and future plans
The directors of the company are actively engaged in determining a course of action which will provide the best long-term outcome for shareholders. Shareholders can expect further communication during the course of 2007.
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
