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Cenmag Holdings Limited - The audited group results of Cenmag and its
Subsidiaries for the year ended 28 February 2002.
Cenmag Holdings Limited
(Company Registration 1987/004821/06)
Share Code : CMG
ISIN Code : ZAE000001533
The audited group results of Cenmag and its Subsidiaries for the year ended
28 February 2002
GROUP INCOME STATEMENT
12 Months 12 Months
28 February 28 February
2002 2001
R000 R000
Gross Revenue 36551 35544
Cost of sale 29512 28976
Gross profit 7039 6568
Operating costs 6519 5418
Operating (-Loss) Income 520 1150
Depreciation 394 433
Operating (-Loss) Income 126 717
Net Finance Costs 503 394
(-Loss) Profit before Tax -377 323
Taxation 134 54
(-Loss ) profit after Tax -243 269
Minority Interest -6 15
(Loss) Profit attributable
to shareholders -237 254
ABRIDGED BALANCE SHEET
12 Months 12 Months
28 February 28 February
2002 2001
R000 R000
Assets
Non-current Assets
Fixed Assets 3025 1978
Loan receivable 294 388
Current assets 13396 11887
16715 14253
Equity and Liabilities
Capital and reserves 6161 6398
Minority interest 362 368
Interest bearing liabilities
- long and short 4292 3590
Interest Free liabilities 5900 3897
16715 14253
Headline (Loss) per share -2.53
Headline Earnings 2.81
Per share IN CENTS
STATEMENT OF CHANGES IN SHARE SHARE ACCUMULATED TOTAL
EQUITY CAPITAL PREMIUM PROFIT
BALANCE ON 1.3.2000 96 2090 3958 6144
NET PROFIT FOR THE YEAR 254 254
BALANCE 1.3.2001 96 2090 4212 6398
NET LOSS FOR THE YEAR -237 -237
BALANCE 28.2.2002 96 2090 3975 6161
GROUP CASH FLOW STATEMENT R`000 R`000
Cash flows from operating
activities 520 949
Cash flows from investing
activities -753 241
Cash affects of financing
activities -503 -334
Net (decrease) increase in
cash and cash equivalents -736 856
Cash overdraft at the
beginning of year -2970 -3826
Cash overdraft at the end of
year -3706 -2970
COMMENT
In line with difficult economic conditions, the group experienced a
loss for the year of R 237 000 on a small increase in gross revenue
of 2.63% compared to last year.
Our audited annual financial statements have been prepared in
accordance of GAAP and in the manner required by the Companies Act.
PROSPECTS
Prospects for the forthcoming year are exciting with several orders
in the pipeline which will produce healthy profits for the group.
In view of the above, the directors are of the opinion, that under
normal circumstances, we anticipate the group in the new financial
year to start paying dividends.
Johannesburg Registered Office Transfer Secretaries
29 May 2002 Cenmag Holdings Ltd Mercantile Registrars Ltd
Hertz Draai, Route 24 11 Diagonal Street
P.O.Box 870 Johannesburg
Isando 1600 2001
On behalf of the board
V. Farkas
Director
Directors : V. Farkas, C.J.E. Lane, C.J.B. Le Roux
Date: 31/05/2002 03:39:00 PM Produced by the SENS Department
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