S&J LAND HOLDINGS LIMITED
(Incorporated in the Republic of South Africa")
(Registration number 1988/000139/06)
("the company")
Directors: WRB Hamlyn, WNB Imrie**, M Koppel (Alt RG Rainey),DCL Wassung
**British
Interim results for the six months ended 31 December 2000
ABRIDGED CONSOLIDATED INCOME STATEMENTS
Unaudited Audited
Six months ended Year ended
31 December 30 June
2000 1999 2000
R'000 R'000 R'000
Turnover 158 149 296
Operating loss (1 368) (994) (1 905)
Investment income
Net interest received 554 683 1 247
Loss on ordinary activities
before taxation (814) (311) (658)
Taxation - - 56
Loss after taxation (814) (311) (602)
Share of joint venture profit - 5 5
Loss for the period (814) (306) (597)
Retained profit
- beginning of the period 34 655 35 252 35 252
Retained profit
- end of the period 33 841 34 946 34 655
Ordinary shares in issue ('000) 26 300 26 300 26 300
Loss per share (cents) (3,1) (1,2) (2,2)
ABRIDGED CONSOLIDATED BALANCE SHEETS
ASSETS
Non-current assets 123 098 123 182 123 153
Land and buildings and mining assets 123 015 123 101 123 024
Knightsgate Joint Venture Loan Account - 8 -
Deferred taxation 56 - 56
Loan to the Share Incentive Trust 27 73 73
Current assets 11 002 12 214 11 783
TOTAL ASSETS 134 100 135 396 134 936
EQUITY AND LIABILITIES
Equity capital and reserves 131 753 132 858 132 567
Current liabilities 2 347 2 538 2 369
TOTAL EQUITY AND LIABILITIES 134 100 135 396 134 936
Ordinary shares in issue ('000) 26 300 26 300 26 300
Net asset value per share (cents) 500,9 505,2 504,1
COMMENTS:
1. The increased operating loss is as a result of reduced rental and interest
received over the period as well as increased expenses due to management
changes and additional security costs with respect to company property.
2. Township establishment and release of land for sale or development purposes
is a priority but is subject to market demand and viability.
3. Clearance of mine dumps over company property is advanced with certain areas
becoming available for rehabilitation and establishment at the end of
2001.Clearance of the remaining areas is anticipated by the end of 2003.
4. Negotiations with the metropolitan authorities for the clearance of
squatters and other illegal occupants from company land are progressing
constructively.
For and on behalf of the board of directors:
WRB Hamlyn DCL Wassung
Bedfordview
19 February 2001
Transfer office Registered office
Mercantile Registrars Limited AMR Office Park III
11 Diagonal Street Concorde Road East
Johannesburg, 2001 Bedfordview, 2008
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