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SLL
SLL
SLL - Stella Vista - Interim Results for the Period Ending 28 February 2007
Stella Vista Technologies Limited
("Stella Vista" or "the company")
(Registration number 1998/000172/06)
Share Code: SLL ISIN: ZAE000018198
INTERIM RESULTS FOR THE PERIOD ENDING 28 FEBRUARY 2007
SUMMARISED GROUP INCOME STATEMENT
Unaudited Unaudited Audited
six months six months twelve
ended ended months ended
28 Feb 07 28 Feb 06 31 Aug 06
R`000 R`000 R`000
Revenue 18,502 9,558 23,444
Gross Profit 6,407 4,883 12,609
Operating profit/(loss) (after 1,647 482 (252)
charging)
- Depreciation 301 274 420
- Operating rentals 105 196 352
Finance Income 82 27 530
Finance cost (286) (17) (990)
Net profit/(loss) before taxation 1,443 492 (712)
Taxation - - -
Net profit/(loss) after taxation 1,443 492 (712)
Basic and headline profit/(loss) per
share (cents)
Net profit/(loss) attributable to 1,443 492 (712)
shareholders (R)
Profit on disposal of fixed assets (R) - 0 33
Headline profit/(loss)(R) 1,443 492 (745)
Weighted average number of shares in 140,000 140,000,000
issue
Earnings/(loss) per share (cents) 1.03 0.35 (0,51)
Headline Earnings/(loss) per share 1.03 0.35 (0,53)
(cents)
Net Asset Value per share (cents) 4.39 4.15 3.36
SUMMARISED GROUP BALANCE SHEET
ASSETS
Non-current assets
Property, plant and equipment 1,986 1,449 1,845
Deferred tax asset 2,976 2,976 2,976
4,962 4,425 4,821
Current assets
Inventories 9,971 7,682 7,676
Receivables 498 1,378 5,047
Cash and cash equivalents 1,783 410 2,988
12,252 9,470 15,711
Total assets 17,214 13,895 20,532
EQUITY AND LIABILITIES
Capital and reserves 6,147 5,805 4,704
Non-current liabilities
Interest-bearing borrowings 4,077 138 106
Current liabilities
Payables 4,020 7,685 13,715
Provisions and other payables 2,970 267 418
Current tax liabilities - 0 1,589
6,990 7,952 15,722
Total equities and liabilities 17,214 13,895 20,532
SUMMARISED GROUP CASH FLOW
Cash flow from operating activities 943 (1,782) (3,643)
Cash flow from investing activities (442) (111) (214)
Cash flow from financing activities (116) (984) 1,969
Increase/(Decrease) in cash and cash 385 (2,877) (1,888)
equivalents
GROUP STATEMENT OF CHANGES IN EQUITY
Capital and reserves at the beginning 4,704 5,269 5,675
of the period
Net profit/(loss) for the period 1,443 492 (712)
Movement in foreign currency - 44 (259)
translation reserve
Capital and reserves at the end of the 6,147 5,805 (4,704)
period
The Company
Stella Vista Technologies Ltd (Company) is a world leader in the design of
state-of-the-art multimedia communications systems, providing displays, control
equipment and software for a multitude of applications. The complete line of
multi-purpose products includes scoreboards, video display screens and combined
text and graphic messaging displays with real-time data capabilities. Stella
Vista focuses on designing, producing, integrating and supporting innovative
products and services for clients` specific needs. This provides the total
solution for sport, business, entertainment and the transportation markets,
ensuring complete customer satisfaction, while providing the viewer with a
truly remarkable experience.
The Market and Prospects
Stella Vista has continued to be active in the sports market during the this
period - both locally and internationally. We delivered displays and our
specialised services in the West Indies during the ICC Cricket World Cup 2007,
as well as displays in Africa.
Stella Vista screens continue to be used at multiple international and local
sporting events in South Africa. Our electronic perimeter boards were used in
international cricket, rugby and local soccer competitions, as well as golf
tournaments.
The prospects in the sports and commercial markets appear high in the medium
term. Key contributors to this are the adoption of electronic perimeter boards
in various sports, and the international move to introduce full-size electronic
billboards by large outdoor companies.
Results
Commentary
The company delivered satisfactory organic growth and continuing profit
improvement in the six months under review.
International recognition of the quality product manufactured and supported by
the company have helped in the increased growth. The company is receiving
strong acceptance of its sports stadium replay screens, scoreboards and
perimeter advertising boards.
Prospects
The performance in the first period has provided a platform to deliver strong
growth for the year.
The company is well positioned to offer bespoke solutions to clients` needs and
requirements, and this activity should contribute positively to the earnings
for the year ended 31 August 2007.
Dividend
No interim dividend is proposed.
Products and Services
Development of a new line of the Titan S-Series will further widen Stella Vista
offering in the field of video displays. There were also further developments
in the LB-series of information displays, such as the LB24W (White LED).
Stella Vista continues to enhance its current range of sport solutions, these
solutions can be customized to suit any customer demand, from small school
sport grounds to World class venues.
Stella Vista products and services are continually improved and upgraded to
match the customer requirement. This applies across the board, from simple
information scoreboards and electronic perimeter displays to the video replay
displays.
Accounting Standards
The interim financial statements have been prepared in accordance with
International Financial Reporting Standards.
On behalf of the Board
Dr A Bacher M Tabakovic
Chairman Chief Executive Officer
Directors:
Dr A Bacher*(Chairman), M Tabakovic (CEO), D Tabakovic, R Burke*,
C Livingstone*
(*non-executive)
Sponsor
SANSARA INDEPENDENT SPONSOR SERVICES
Date: 29/05/2007 17:00:00 Produced by the JSE SENS Department.
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