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NINIAN AND LESTER HOLDINGS LIMITED
Reg. No.1969/002769/06
ANNOUNCEMENT TO SHAREHOLDERS
"The group trading results for the year ended 31 December, 2000 are as
follows:"
ABRIDGED INCOME STATEMENT
R R
Jan to Dec Jan to Dec
2000 1999
TURNOVER 325 444 000 336 829 000
TRADING INCOME 21 162 000 25 713 000
DEDUCT 10 824 000 10 718 000
Depreciation 10 026 000 9 066 000
Interest paid 1 008 000 2 299 000
Interest received (210 000) (647 000)
INCOME before taxation 10 338 000 14 995 000
Taxation 1 100 000 4 007 000
INCOME after taxation
attributable to members 9 238 000 10 988 000
Number of shares in issue 3 750 000 3 750 000
Earnings per share 246 cents 293 cents
Headline earnings per share 228 cents 288 cents
Dividend per share - Interim 10 cents 15 cents
- Final 75 cents 110 cents
ABRIDGED BALANCE SHEET
Capital Employed
- Shareholders' funds 107 897 000 101 846 000
- Deferred taxation 960 000 1 133 000
Total capital
employed 108 857 000 102 979 000
Represented by - Fixed assets 25 769 000 28 472 000
- Land and buildings 7 429 000 8 326 000
- Other 18 340 000 20 146 000
- Net current assets 83 088 000 74 507 000
Current assets 122 688 000 140 988 000
Stock 51 834 000 51 630 000
Debtors 70 854 000 72 709 000
Bank balances - 16 649 000
Current liabilities (39 600 000) (66 481 000)
Interest bearing short term
borrowings (466 000) -
Other (39 134 000) (66 481 000)
Total employment of capital 108 857 000 102 979 000
ABRIDGED CASH FLOW STATEMENT
Cash (utilised)/generated by operating
activities (10 498 000) 26 892 000
Cash utilised in investment
activities (6 617 000) (7 436 000)
Net (decrease)/increase in short term
cash resources (17 115 000) 19 456 000
Cash resources/(short term borrowings) at
beginning of year 16 649 000 (2 807 000)
(Short term borrowings)/cash resources at
end of year (466 000) 16 649 000
DIRECTORS' COMMENT
The trading results for the year mirror the difficult conditions experienced
with subdued consumer spending on apparel at retail level.
DECLARATION OF DIVIDEND NO. 54
"Notice is hereby given that a final dividend of 75 cents per share in respect
of the year ended 31 December, 2000 has been declared payable to" "shareholders
registered in the books of the company at the close of business on 6 April,
2001 and dividend warrants/transfers will be posted/ " "initiated to
shareholders on or about 18 April, 2001"
Transfer Secretaries: By Order of the Board
Mercantile Registrars Ltd. G W Rahmer, B.Com, M.B.L., C.A.(S.A.)
P O Box 1053 Secretary
JOHANNESBURG DURBAN
2000 09 March 2001
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