CENMAG HOLDINGS LIMITED
(CO. REG. 1987/004821/06)
SHARE CODE : CMG
ISIN CODE : ZAE000001533
THE UNAUDITED GROUP RESULTS OF CENMAG AND ITS SUBSIDIARIES FOR THE 6 MONTHS
ENDED 31 AUGUST 2001
GROUP INCOME STATEMENT
6 MONTHS 6 MONTHS
31.08.2001 31.08.2000
R'000 R'000
Gross revenue 18 676 19 532
Cost of sales 14 882 15 718
Gross profit 3 794 3 814
Operating costs 3 990 2 866
Operating (-loss)/income -196 949
Depreciation 199 207
Operating (-loss)/income -395 742
Net finance costs 189 334
(-Loss)/profit before taxation -584 408
Taxation 117
(-Loss)/profit after taxation -584 291
Minority interest 5 21
(-Loss)/profit attributable to
shareholders -589 270
ABRIDGED BALANCE SHEET
6 MONTHS 6 MONTHS
31.08.2001 31.08.2001
R'000 R'000
ASSETS
Non-current assets
Fixed assets 3 010 4 205
Loans receivable 324 364
Current assets 10 991 12 576
14 325 17 145
Equity and Liabilities
Capital and reserves 5 809 7 231
Minority interest 373 375
Interest Bearing Liabilities -
Long and short 4 053 3 746
Interest Free Liabilities 4 090 4 793
14 325 17 145
HEADLINE (LOSS) EARNINGS PER SHARE
- IN CENTS -6.14 2.81
STATEMENT OF CHANGES SHARE SHARE ACCUMULATED TOTAL
IN EQUITY CAPITAL PREMIUM PROFIT
Balance 1.3.2001 R'000 96 2 090 4 212 6 398
Net loss for the 6
Months -589 -589
Balance 31.9.2001 96 2 090 3 623 5 809
GROUP CASH FLOW STATEMENT R'000 R'000
Cash flows from operation activities -196 949
Cash flows from investing activities 600 -925
Cash effects of financing activities -189 -334
Net (decrease) increase in cash and
cash equivalents 215 -310
Cash overdraft at the beginning of year -2 970 - 2 970
Cash overdraft at the end of period -2 755 -3 280
COMMENT
Group operating loss is as a result of R742 000 loss incurred through the
winding-up of a property company. Adjusting for this loss, profit
attributable to ordinary shareholders would have been R153 000, representing
a decrease of 43,33% compared to last six months.
Our order book for the second half of the year is full and we anticipate a
further reduction in the loss for the whole year. Under these
circumstances, the board of directors decided not to declare any dividends
for the year
Johannesburg
31 October 2001
Registered Office
Cenmag Holdings Ltd
Hertz Draai, Route 24
P.O. Box 870
Isando 1600
Directors : V. Farkas, C.J.E. Lane, C.J. Le Roux
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