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Cyberhost Limited
Registration number 1998/013649/06
Share code CYB ISIN code ZAE000017471
Interim results for the period ended 30 June 2001
INCOME STATEMENT Period ended Period ended
30 June 2001 30 June 2000
R R
Revenue 171 450 1 092 228
Continuing operations 171 450 735 289
Discontinued operations - 356 939
Operating loss 1 203 348 1 192 498
Interest paid 498 28 960
Interest received (140) (97 607)
Loss from discontinued operations 1 808 193
Loss attributable to shareholders 1 203 706 2 932 044
Shares in issue (000) 83 816 83 816
Loss per share (cents) 1,44 3,50
Headline loss per share (cents) 1,44 3,50
BALANCE SHEET As at As at
30 June 2001 30 June 2000
Assets
Non-current assets
Fixed assets 471 643 4 907 296
Intangibles 185 625 208 125
Share incentive scheme 160 000 800 000
Current assets
Trade and other receivables 697 379 877 818
Cash and cash equivalents 5 509 965 096
Total assets 1 520 156 7 758 335
Equity and liabilities
Capital and reserves
Shareholders' funds (3 243) 6 036 594
Non-current liability
Long-term liability 444 154 241 965
Current liabilities
Trade and other payables 1 079 245 1 425 976
Current portion of
long-term liability - -
Bank overdraft - 53 800
Total equity and liabilities 1 520 156 7 758 335
CASH FLOW STATEMENT
Operating loss before working
capital changes (1 036 116) (2 951 248)
Working capital changes 592 212 981 868
Cash flow from operations (443 904) (1 969 380)
Interest paid (498) (28 959)
Interest received 140 97 607
Cash flow from operating activities (444 262) (1 900 732)
Cash flow from investing activities 43 789 789 191
Cash flow from financing activities 283 888 -
Net movement in cash resources (116 585) (1 111 541)
Opening cash and cash equivalents 122 094 2 022 837
Closing cash and cash equivalents 5 509 911 296
DIRECTORS' REPORT
As you are aware your company has experienced extremely difficult trading
conditions over the period under review, to the extent that the company has
been in danger of ceasing its operation.
The new board that was appointed on 7 March 2001 has vigorously set in
motion a recovery programme that will lead the company into a position
whereby sustainable annual growth and profitability will be achieved.
The new board aims to more effectively utilise the existing staff and
infrastructure, and newly acquire products and services to create a more
competitive suite of products. In so doing, Cyberhost has evolved into a
company focused on value-added IT services, with specific strengths in the
financial services, employee benefits and e-commerce areas.
The interim financial statements have been prepared in accordance with
Statements of Generally Accepted Accounting Practice using accounting
policies consistent with prior years.
No dividend has been declared.
By order of the board
David Bird
Chairman
Cape Town 21 September 2001
Directors D Bird (Chairman)* Mark Weetman (Chief executive officer) I
Banhegyi A Levine *Non-executive
Registered office Unit 51 Frazzitta Business Park
Cnr Freedom and Koeberg Road Montague Gardens 7441 Cape Town
Transfer secretaries Computershare Services Limited
Edura House 41 Fox Street Johannesburg 2001
(PO Box 61054 Marshalltown 2107)
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