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NCS
NCS
NCS - Nictus - Amendment To The Abridged Report Relating To The Audited
Financial Results For The Year Ended 31 March 2008
NICTUS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1981/001858/06)
JSE Share code: NCS
NSX Share code: NCT
ISIN Code NA0009123481
("Nictus" or "the company")
AMENDMENT TO THE ABRIDGED REPORT RELATING TO THE AUDITED FINANCIAL RESULTS FOR
THE YEAR ENDED 31 MARCH 2008
The Financial Performance section of the Audited Financial Results of the Group,
released on SENS on 30 June 2008, had a typographical error on the Abridged
Group Balance Sheet and the Abridged Group Segmental Results.
The Contingency reserve was incorrectly stated as R27 695 000 and should be R10
693 000.
The 2007 segment revenue for the Furniture retail segment was incorrectly stated
as R53 996 000 and should be R59 303 000.
The cash flow statement was incorrectly stated and is correctly presented below:
ABRIDGED CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2008
Audited Audited
2008 2007
R`000 R`000
CASH FLOWS FROM OPERATING ACTIVITIES
Profit before taxation 7 183 5 930
Adjustment for:
Interest income from operations (5 413) (3 671)
Ordinary dividends received (6 630) (4 786)
Investment income (3 284) (1 868)
Finance expenses 5 536 5 407
Depreciation of property, plant and equipment 859 1 579
Amortisation of intangible asset 57 240
Loss on disposal of property, plant and 28
equipment 219
Profit on disposal of interest in associate - (1 240)
Profit on disposal of investments (230) (75)
Profit on disposal of subsidiary - (2 154)
Share of profit of associates - (688)
Fair value adjustment on investments (362) (2 281)
Negative goodwill recognized in profit and - (823)
loss
Working capital changes:
(Increase) / decrease in inventories (1 921) 7 409
(Increase)/ decrease in trade and other (38 591) (18 143)
receivables
Increase in insurance contract liabilities 58 573 47 135
Increase in trade and other payables 2 247 5 096
Cash generated by operations 18 052 37 286
Interest income from operations 5 413 3 671
Interest paid (5 536) (5 407)
Ordinary dividends received 6 630 4 786
Taxation paid 465 (48)
Net cash flow from operating activities 25 024 40 288
CASH FLOWS FROM INVESTING ACTIVITIES
Replacement of property, plant and equipment - (2 703)
Expansion of property, plant and equipment (5 517) (665)
Proceeds from disposal of property, plant and 1 606 686
equipment
Purchases of intangible assets (392) (14)
Acquisition of subsidiary - (2 059)
Disposal of subsidiary, net of cash disposal - 2 450
of
Investment income received 3 284 1 868
Proceeds from disposal of investments 1 805 2 020
Investments made (167) (10 528)
Proceeds on disposal of associate - 1 765
Loans and receivables advanced (3 241) (15 903)
Net cash flow from investing activities (2 622) (23 083)
CASH FLOWS FROM FINANCING ACTIVITIES
Interest bearing loans and borrowings raised 23 315 3 338
Interest bearing loans and borrowings repaid (11 750) (218)
Movement in treasury shares 103 (993)
Dividends paid (2 004) (802)
Net cash flow from financing activities 9 664 1 325
Net movement in cash and cash equivalents 32 066 18 530
Cash and cash equivalents at beginning of year 58 187
39 657
Cash and cash equivalents at end of year 90 253 58 187
2 July 2008
Sponsor: KPMG
Date: 02/07/2008 10:33:02 Produced by the JSE SENS Department.
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