|
ANS
ANS
ANS - Ansys Limited - Interim results for the period ended 31 august 2007
Ansys Limited
(Incorporated in the Republic of South Africa)
(Registration Number: 1987/001222/06)
Share Code: ANS ISIN Code: ZAE000097028
("Ansys" or "the company")
INTERIM RESULTS FOR THE PERIOD ENDED 31 AUGUST 2007
HIGHLIGHTS
Headline Earnings up 336%
HEPS up 263%
NTAV up 561%
Cash balance of R29.1 million
Balance sheet
31-Aug 31-Aug 28-Feb
(Reviewed) (Reviewed) (Audited)
2007 2006 2007
Assets
Property, plant and R 1,335,370 R 465,969 R 1,115,055
equipment
Intangible assets R 130,030 R 41,699 R 157,814
Current assets R 66,453,577 R 15,663,902 R 39,500,138
Total assets R 67,918,977 R 16,171,570 R 40,773,007
Equity and liabilities
Capital and reserves R 46,413,764 R 5,880,080 R 13,357,111
Non-current R 489,651 R 175,939 R 570,449
liabilities
Current liabilities R 21,015,562 R 10,115,551 R 26,845,397
Total equity and R 67,918,977 R 16,171,570 R 40,773,007
liabilities
Number of shares in 131,945,205 110,000,000 110,000,000
issue
Net asset value per 35.18 5.35 12.14
share (cents)
Tangible net asset 35.08 5.31 12.00
value per share
(cents)
Income statement
6 months ended Year ended
31-Aug 31-Aug Change 28-Feb
(Reviewed) (Reviewed) % (Audited)
2007 2006 2007
Revenue R 61,288,561 R 23,236,611 163.76% R 78,877,759
Gross profit R 24,782,972 R 9,848,348 151.65% R 32,519,042
Other income R 68,132 R 167,044 -59.21% R 112,567
Operating costs R 12,744,007 R 7,047,846 80.82% R 14,963,378
Earnings before R 12,107,097 R 2,967,546 307.98% R 17,668,231
interest, tax,
depreciation and
amortisation
Depreciation and R 216,032 R 63,958 237.77% R 274,733
amortisation
Profit before interest R 11,891,065 R 2,903,588 309.53% R 17,393,498
and taxation
Interest paid R 148,225 R 128,945 14.95% R 181,045
Interest received R 592,342 R 13,231 4376.93% R 142,456
Profit before taxation R 12,335,182 R 2,787,874 342.46% R 17,354,909
Taxation R 4,093,156 R 898,812 355.40% R 5,355,521
Profit for the period R 8,242,026 R 1,889,062 336.30% R 11,999,388
Reconciliation of
headline earnings
Profit attributable to R 8,242,026 R 1,889,062 R 11,999,388
ordinary shareholders
Adjustment for profit -R 12,062 - -
on disposal of
property, plant and
equipment for
(profit)/loss
Headline earnings R 8,229,964 R 1,889,062 335.66% R 11,999,388
attributable to
ordinary shareholders
Weighted average 131,945,205 110,000,000 110,000,000
number of shares in
issue (1)
Basic earnings per 6.25 1.72 10.91
share (cents)
Headline earnings per 6.24 1.72 262.79% 10.91
share (cents)
Dividends per share 0 0 3.23
(cents)
Note:
1) The reviewed weighted number of shares in issue is also used for the
comparative figures in order to reflect a more meaningful comparative by taking
into account the effect of the capital restructurings undertook during the
listing in June 2007 on the earnings per share calculations.
Statement of
changes in equity
Share Share Accumulated Total
capital premium profit
Balance at 01 R 280 R 419,439 R 3,635,258 R 4,054,977
March 2006
Profit for period R 1,889,063 R 1,889,063
ending 31 August
2006
Balance as 31 R 280 R 419,439 R 5,524,321 R 5,944,040
August 2006
Share reduction -R 25 -R 419,439 -R 1,941,790 -R 2,361,254
Profit for the R 10,110,325 R 10,110,325
period ending 28
February 2007
Dividends paid -R 336,000 -R 336,000
Balance at 1 R 255 R 0 R 13,356,856 R 13,357,111
March 2007
Share issue R 30,000,000 R 30,000,000
Share issue -R 1,632,373 -R 1,632,373
expenses
Dividends paid -R 3,553,000 -R 3,553,000
Profit for the R 8,242,026 R 8,242,026
period ending 31
August 2007
Balance as at 31 R 28,367,882 R 0 R 18,045,882 R 46,413,764
August 2007
Cash flow statement
6 months ended Year ended
31-Aug 31-Aug 28-Feb
(Reviewed) (Reviewed) (Audited)
2007 2006 2007
Cash flows from -R 141,124 -R 82,113 R 4,997,505
operating activities
Cash receipts from R 61,583,515 R 22,251,462 R 57,543,543
customers
Cash paid to suppliers -R 57,837,452 -R 20,304,822 -R 49,798,411
and employees
Cash generated from R 3,746,063 R 1,946,640 R 7,745,132
operations
Dividend paid -R 3,553,000 -R 336,000
Interest received R 592,342 R 13,230 R 142,456
Interest paid -R 117,588 -R 128,944 -R 168,210
Taxation paid -R 808,941 -R 1,913,039 -R 2,385,873
Cash flows from -R 379,914 -R 99,432 -R 1,897,552
investing activities
Acquisition of property, -R 401,303 -R 986,402
plant and equipment
Acquisition of -R 16,734 -R 167,195
intangible assets
Proceeds on disposal of R 38,123 R 7,123
property plant and
equipment
Proceeds on disposal of
investment property
Change in associated -R 99,432 -R 751,078
company loans
Cash flows from R 27,250,131 R 77,737 -R 344,804
financing activities
Net movement in -R 1,117,496 R 77,737 R 2,016,454
borrowings
Share issue/(reduction) R 28,367,627 -R 2,361,258
Cash flows for the R 26,729,093 -R 103,808 R 2,755,149
period
Cash and Cash R 2,368,163 -R 386,986 -R 386,986
equivalents at beginning
of period
Cash and Cash R 29,097,256 -R 490,794 R 2,368,163
equivalents at end of
period
DIRECTORS` REPORT
INTRODUCTION
The directors are pleased to present the maiden interim financial results of the
company for the six months ended 31 August 2007 ("the interim period"). The
results reflect Ansys`s continuing growth and profitability in an active period
that saw the company make significant progress in the execution and delivery of
a number of Transnet trackside measurement projects, submit its first
significant rail signaling quotation to MetroRail, while orchestrating a
successful listing on AltX.
REVIEW OF OPERATIONS
Ansys`s strategic focus on high-value rail infrastructure projects has driven a
164% increase in the company`s turnover, while staff levels increased by 34%.
Profitability for the interim period therefore increased significantly from the
previous corresponding interim period.
BLACK ECONOMIC EMPOWERMENT ("BEE")
Ansys retains its focus on BEE. Mr. Teddy Daka remains the majority shareholder
of the company.
FINANCIAL RESULTS
While revenue generation for the half year increased 164% from R23 million as at
31 August 2006 to R61 million for the half year as at 31 August 2007, profit
before tax for the period increased from R2.7 million to R12.3 million. This
translated into headline earnings per share (HEPS) of 6.27 cents, up by 263%
from 1.75 cents. Ansys saw an increase in its cash holdings to R29 million,
with a resultant increase in net tangible asset value per share of 35.05 cents
up from 5.16 cents as at 31 August 2006.
PROSPECTS
Prospects remain optimistic and the Board is confident of meeting its forecasts
to February 2008. Ansys has to date secured R117 million of new contracts for
its order book.
DIVIDEND POLICY
No interim dividend has been declared.
BASIS OF PREPARATION
The interim results have been prepared in accordance with IAS 34 (Interim
Financial Reporting). The accounting policies applied in preparing these
interim financial statements, are consistent with those applied in the prior
interim period and at the year-end and are in accordance with International
Financial Reporting Standards.
This announcement has been prepared in accordance with the Listings Requirements
of the JSE Limited.
CHANGES TO THE BOARD OF DIRECTORS
No changes have been made to the board of directors since listing on 07 June
2007.
APPRECIATION
We thank our loyal staff, the majority of whom have remained with the group for
more than 15 years, for their commitment and hard work which contributed to
Ansys`s achievement of its milestone listing on AltX. We also thank our
Customers, business partners, advisors and suppliers, and most importantly our
shareholders for their ongoing support and faith in the in the company.
By order of the Board
26 September 2007
Alan Holloway Helena Hester Opperman
Managing Director Financial Director
CORPORATE INFORMATION
Non executive directors: T Daka (Chairman), MG Diliza
Executive directors: RF Barnard, A Holloway (Managing), I Lamprecht, HH
Opperman, JJ Prinsloo, OK Sakkers.
Registration number: 1987/001222/06
Registered address: 457 Rodericks Road, Lynnwood, Pretoria
Postal address: PO Box 95361, Waterkloof, Pretoria
Company secretary: P van Zyl
Telephone: +27 12 346 3141
Facsimile: +27 12 346 3720
Transfer secretaries: Computershare Investor Services 2004 (Pty) Limited
Designated Adviser: Exchange Sponsors (Pty) Limited
Date: 26/09/2007 09:00:01 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
| 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. | |||||||||||||
| Other Profile Group sites: FundsData Online (unit trust data) | Profile Group corporate site | |||||||||||||
| [ Terms of Use | Privacy Policy | PAIA manual | FAQs/Help | Site Map | © Copyright Reserved 2026 ] | |||||||||||||
|
|||||||||||||
