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JDH
JDH
JDH - John Daniel Holdings - Abridged Audited Financial Statements for the
period ended 30 June 2009 (Updating the provisional reviewed abridged
financial statements issued on 30 October 2009) and notice of annual
general meeting
JOHN DANIEL HOLDINGS LIMITED
Incorporated in the Republic of South Africa
(Registration number: 1998/013215/06)
JSE Code: JDH - ISIN: ZAE000044343
("the Company" or "JDH" or "the Group")
Abridged Audited Financial Statements for the period ended 30 June 2009
(Updating the provisional reviewed abridged financial statements issued on 30
October 2009) and notice of annual general meeting
Abridged Balance Sheet as at 30 June 2009 30 June 2009 30 June 2008
Audited Group Audited Group
R`000 R`000
ASSETS
Non-current assets
Property, plant and equipment 4 208 5 668
Intangible assets 1 790 1 750
Investments - -
Deferred tax 2 179 2 179
Total non-current assets 8 177 9 597
Total current assets 7 845 2 563
TOTAL ASSETS 16 022 12 160
EQUITY AND LIABILITIES
Capital and reserves (1 920) 1 690
Minority interest 491 2 238
Total equity (1 431) 3 928
Non-current liabilities
Interest bearing borrowings 263 -
Deferred tax 23 23
Total non-current liabilities 286 23
Total current liabilities and shareholders 17 165 8 209
loans
TOTAL EQUITY AND LIABILITIES 16 022 12 160
Net asset value (1 920) 1 690
Net tangible asset value (3 710) (60)
(0.024) 0.03
(0.055) (0.001)
Abridged Income Statement for the period 30 June 2009 30 June 2008
ended 30 June 2009 Audited Group Audited Group
R`000 R`000
REVENUE 6 931 6 315
COST OF SALES (5 535) (2 988)
GROSS PROFIT 1 396 3 327
Other income 1 403 -
Selling, distribution and administration (6 859) (8 804)
expenses
(LOSS) before net finance costs and tax (4 060) (5 477)
Net finance costs (1 297) (207)
Taxation income - 1 610
(LOSS) FOR THE YEAR (5 357) (4 074)
Attributable to minorities 1 747 1 376
Net (loss)/profit attributable to (3 610) (2 698)
shareholders
Basic and headline earnings/(loss)
Basic (loss) (3 610) (2 698)
Headline (loss) (4 653) 302
Basic (loss) per share (cents) attributable (0.062) (0.046)
to equity holders of the parent
Headline earnings per share (cents) (0.079) 0.005
attributable to equity holders of the parent
Weighted average number of shares `000 5 851 976 5 851 976
Number of shares in issue `000 5 851 976 5 851 976
Reconciliation between basic earnings /
(loss) and headline earnings
IAS 33 Basic (loss) (3 610) (2 698)
IAS 16 Profit on disposal of property, plant (1 043) -
and equipment
IAS 39 Impairment of investment - 3 000
Headline earnings (4 653) 302
Abridged Segmental Information for the period ended 30 June 2009
30 June 2009 Audited Group R`000 R`000
Primary segments Biotechnology Packaging
Revenues 2 279 4 652
Unallocated corporate revenue
Total external Revenue
Segmental results (1 230) (3 039)
Unallocated group loss
Total result
30 June 2008 Audited Group R`000 R`000
Primary segments Biotechnology Packaging
Revenues 2 275 2 540
Unallocated corporate revenue
Total external Revenue
Segmental results (722) (2 327)
Unallocated group loss
Total result
30 June 2009 Audited Group R`000 R`000
Primary segments Elimination Consolidated
Revenues - 6 931
Unallocated corporate revenue -
Total external Revenue 6 931
Segmental results 1 452 (2 817)
Unallocated group loss (2 540)
Total result (5 357)
30 June 2008 Audited Group R`000 R`000
Primary segments Elimination Consolidated
Revenues - 4 815
Unallocated corporate revenue 1 500
Total external Revenue 6 315
Segmental results - (3 049)
Unallocated group loss (1 024)
Total result (4 073)
Abridged Statement of Changes in Equity for the Year Ended 30 June 2009
Capital Non- Share
Distributable option
reserve liability
R`000 R`000
R`000
Balance as at 30 June 2007 24 415 14 172 87
Options exercised - - (48)
Profit on sale of shares in - 347 -
subsidiary
Changes in equity holdings of - (1 431) -
subsidiaries
Net loss for the period - - -
Balance as at 30 June 2008 24 415 13 088 39
Options expired - - (39)
Loss for the year - - -
Balance as at 30 June 2009 24 415 13 088 -
Accumulated Minority Total
profit interest
/(loss) R`000 R`000
R`000
Balance as at 30 June 2007 (33 202) 1 529 7 001
Options exercised 48 - -
Profit on sale of shares in - - 347
subsidiary
Changes in equity holdings of - 2 085 654
subsidiaries
Net loss for the period (2 698) (1 376) (4 074)
Balance as at 30 June 2008 (35 852) 2 238 3 928
Options expired 39 - -
Loss for the year (3 610) (1 747) (5 357)
Balance as at 30 June 2009 (39 423) 491 (1 429)
Abridged Cash Flow Statement for the Year 30 June 30 June
Ended 30 June 2009 2009 2008
Audited Audited
Group Group
R`000 R`000
NET CASH (OUTFLOW) / INFLOW FROM OPERATING (11 890) (680)
ACTIVITIES
NET CASH (OUTFLOW) / INFLOW FROM INVESTING 1 755 372
ACTIVITIES
NET CASH INFLOW/(OUTFLOW) FROM FINANCING 11 432 (59)
ACTIVITIES
Increase / (Decrease) in cash and cash 1 297 (367)
equivalents
Cash and cash equivalents at the beginning of (958) (591)
the year
Cash and cash equivalents at the end of the 339 (958)
year
Notes:
1. Differences between provisional reviewed financial statements published
on 30 October 2009 and final audited financial statements for the period
ended 30 June 2009 are provided below.
Reclassification changes:
1.1 R99 763 was reclassified from long term liabilities to current
liabilities.
1.2 R1 403 509 was reclassified from turnover to other income, which
amount was added back in the calculation of headline earnings.
2. These results have been audited by PKF (CPT) Inc, whose unqualified
audit report with an emphasis of matter is available for inspection at
the registered offices of the company. The emphasis of matter states
that the group income statement indicates a net loss of R3.6 million
(2008: R2.6 million) after minority interest during the financial year
ended 30 June 2009 and as of that date the group`s total liabilities
exceed its total assets by R1.4 million. These conditions indicate the
existence of material uncertainty which may cast doubt on the group`s
ability to continue as a going concern unless the conditions referred to
in the directors` commentary in the provisional reviewed abridged
financial statements are realised.
3. The annual financial statements were posted to shareholders on 25
November 2009 and the Annual General Meeting will be held at the
company`s offices on 17 December 2009 at 09:00.
4. The audit committee has considered, and satisfied itself of the
appropriateness of the expertise and experience of the financial
director.
H Minnie
CEO
Stellenbosch
30 November 2009
Directors: S Tshiki (Non-executive Chairman), HD Minnie (CEO), NJ Ackermann
(Financial Director), T Mvusi (Non-Executive Director), S Serex (Non-
Executive Director)
Company Secretary: G Hayward
Registered Office: Infruitec Northern Terrain, Lelie Street, Stellenbosch
7600, PO Box 1243, Stellenbosch, 7599.
Transfer Secretaries: Computershare Investor Services (Pty) Ltd, 70 Marshall
Street, Marshalltown 2001. PO Box 61051, Marshalltown, 2107.
Sponsor: Arcay Moela Sponsors (Pty) Ltd
Auditors: PKF (Cpt) Inc
Date: 30/11/2009 13:29:01 Produced by the JSE SENS Department.
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