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ACD
ACD
ACD - Alliance Data Corporation - Audited Results for the year ended 28 February
2007 and dividend declaration
Alliance Data Corporation Limited
(Incorporated in the Republic of South Africa)
(Registration Number: 1997/013402/06)
Share Code: ACD
ISIN Code: ZAE000065165
Audited Results for the year ended 28 February 2007 and dividend declaration
Audited Audited 28
BALANCE SHEETS 28 Feb 2007 Feb 2006
R`000 R`000
ASSETS
Non current assets 96 682 15 026
Property, plant and equipment 11 531 1 263
Intangible Assets 11 043 9 459
Goodwill 55 291 -
Financial receivables 18 818 4 304
Current assets 35 901 6 354
Inventory 5 975 8
Trade and other receivables 21 181 2 548
Work in progress 1 164 517
Cash and cash equivalents 7 581 3 281
Total assets 132 583 21 380
EQUITY AND LIABILITIES
Shareholders Funds 77 202 15 963
Share capital and premium 43 113 2 038
Distributable reserves 34 089 13 925
Non - Current liabilities 40 629 2 979
Deferred taxation 4 192 2 979
Long term liabilities 36 437 -
Current liabilities 14 752 2 438
Taxation 9 354 892
Bank Overdraft - 35
Trade and other payables 5 217 1 511
Short term portion of Long term 181 -
liabilities
Total equity and liabilities 132 583 21 380
Shares in issue at period end (`000) 50 000 22 500
Net asset value per share (cents) 154.40 70.95
Tangible net asset value per share 21,73 28,90
(cents)
Audited Audited
INCOME STATEMENTS 28 Feb 2007 28 Feb
R`000 2006
R`000
Revenue 157 647 21 006
Operating expenses (132 941) (14 898)
Other income 4 597 -
Profit before finance costs and 29 303 6 108
depreciation
Finance costs - 251
Investment income 59 (1)
Depreciation and amortisation (1 425) -
Profit before taxation 27 937 6 358
Taxation (7 773) (1 485)
Net profit for the period 20 164 4 873
Earnings per share (cents) 54.7 21.7
Headline earnings per share (cents) 54.7 21.7
Weighted average number of shares 36 833 22 500
(`000)
Audited Audited
CASH FLOW STATEMENTS 28 Feb 2007 28 Feb
R`000 2006
R`000
Cash flows from operating activities 51 619 4 466
Cash flows from investing activities (29 841) (3 615)
Cash flows from financing activities (17 473) 843
Net movement in cash and cash 4 305 1 694
equivalents
Cash and cash equivalents at beginning 3 246 1 552
of year
Cash and cash equivalents at end of 7 551 3 246
year
STATEMENT OF CHANGES IN EQUITY
Share Share Distribut
Capital Premium able Total
reserve
R`000 R`000 R`000 R`000
Balance as at 28 20 - 9 052 9 072
February 2005
Net profit for the - - 4 873 4 873
year
Share issue 2 2 497 - 2 499
Write -off listing - (482) - (482)
expenses
Balance as at 28 22 2 015 13 925 15 962
February 2006
Net profit for the - - 20 164 20 164
year
Share issue 30 42 220 - 42 250
Share buy back (2) (1 173) - (1 175)
Balance as at 28 50 43 062 34 089 77 201
February 2007
COMMENTS
The Board of Directors are pleased to present the audited financial results of
the Group for the period ended 28 February 2007.
NATURE OF THE BUSINESS
Alliance Data Corporation Limited ("Alliance Data") specialises in providing
services and products mainly to the mining industry.
HIGHLIGHTS
The Group generated R20,2 million profit for the year ended 28 February 2007.
Earnings per share increased from 21,7 cents (2006) to 54,7 cents (2007).
Net asset value per share increased from 70,95 cents (2006) to 154,40 cents
(2007).
BUSINESS REVIEW AND PROSPECTS
The Group continued to increase its focus on mining services and supplies, and
expanded its mining supply activities during the course of the year. The most
effective structure of the mining operations is currently being determined.
Sindele Mining Supplies (Pty) Ltd, a subsidiary of Alliance Data was purchased
on 1 March 2006. The shares in terms of this acquisition were issued in October
2006, with no outstanding payments due. Any contingent liabilities pertaining to
mining divisions acquired prior to the effective acquisition date are warranted
by the sellers.
Shareholders are also refered to the announcement today of the acquisition of
MelFix & Supplies (Pty) Limited and Thanda Bantu Projects (Pty) Limited. These
acquisitions will further strengthen Alliance Data`s mining platform and
offering.
Management anticipate further growth and acquisitions in the mining division.
FINANCIAL REVIEW
The expansion of mining operations with effect 1 March 2006, is clearly
reflected in the segmented breakdown as follows. There were no mining
activities during the previous financial year.
R`000
28 February 2007
Income Statement Time and Access Mining Total
Revenue 28 156 129 492 157 648
Net profit after tax 6 458 13 705 20 164
R`000
28 February 2007
Balance Sheet Time and Access Mining Total
Current assets 9 656 26 246 35 901
Non current assets 6 613 34 778 41 391
Goodwill - - 55 291
Non current liabilities 4 686 35 944 40 630
Current liabilities 7 268 7 484 14 752
INTERNATIONAL FINANCIAL REPORTING STANDARDS AND COMPANIES ACT REQUIREMENTS
The audited abridged financial statements were prepared in compliance with
International Financial Reporting Standards (IFRS) as well as the Companies Act.
CORPORATE GOVERNANCE
The group fully subscribes to the principles of, and implements where possible,
the recommendations of the King II Code on Corporate Governance.
DIVIDENDS
At interim results in September 2006, Alliance Data announced its intention to
declare a dividend at year end. The directors of Alliance Data have declared a
final dividend of 15 cents per share for the year. The dividend will be financed
out of current profits.
The salient dates for the dividend are as follows:
Last day to trade shares cum div Friday, 6 July 2007
Shares trade ex dividend Monday, 9 July 2007
Record date Friday, 13 July 2007
Payment date Monday, 16 July 2007
No share certificates may be dematerialised or rematerialised between Monday, 9
July 2007 and Friday, 13 July 2007, both dates inclusive.
AUDIT REPORT
The annual financial statements have been audited by SizweNstaluba ES Inc. The
auditors` unqualified audit report is available for inspection at the Company`s
registered office.
For and on behalf of the Board
EA de Kok
Chief Executive Officer
19 June 2007
Registered office: 51 Shannon Road, Noordheuwel, 1740, PO Box 640,
Krugersdorp, 1740
Transfer secretaries: Computershare Limited, Ground Floor, 70
Marshall Street, Johannesburg
Directors: E.A. de Kok (CEO), C. M. van Nieuwkerk, M.J. Garber, L.M.
van der Merwe, M.N. Ramasehla*, P Maema*, N.M. Phosa*
*Non-executive
Date: 19/06/2007 14:36:12 Produced by the JSE SENS Department.
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