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Cenmag -
CENMAG HOLDINGS LIMITED
(CO.REG.1987/004821/06)
("CMG"-ISIN:ZAE000001533)
THE AUDITED GROUP RESULTS OF CENMAG AND IT"S SUBSIDIARIES
FOR THE 12 MONTHS ENDED 28 FEBRUARY 2003 ARE SET OUT BELOW
FOR 12 MONTHS
28 TH OF
FEBRUARY
GROUP INCOME
STATEMENT
2003 2002
R 000 R 000
GROSS REVENUE 33536 36551
COST OF SALES 26088 29513
GROSS PROFIT 7448 7038
OPERATING COSTS 6184 6489
OPERATING INCOME 1264 549
DEPRECIATION 417 425
OPERATING INCOME 847 124
NET FINANCE COSTS 498 503
PROFIT(-LOSS) BEF.TAX 349 -379
TAXATION 75 135
PROFIT(-LOSS) AFT.TAX 274 -244
MINORITY INTEREST 1 6
PROFIT(-LOSS) ATTRIBUTA-
BLE TO SHAREHOLDERS 273 -238
EARNINGS/ HEADLINE EARNINGS (LOSS) PER SHARE -IN CENTS
2.84 -2.48
AS AT
28 TH OF
FEBRUARY
ABRIDGED
BALANCE SHEET
2003 2002
R 000 R 000
ASSETS
NON-CURRENT ASSETS
FIXED ASSETS 2975 3160
LOANS RECEIVABLE 231 294
CURRENT ASSETS 11840 13396
15046 16850
EQUITY AND LIABILITIES
CAPITAL AND RESERVES 6433 6160
MINORITY INTEREST 363 362
INTEREST BEARING LIABILI-
TIES-LONG AND SHORT 3916 4293
INTEREST FREE LIABILITIES 4334 6035
15046 16850
STATEMENT OF CHANGES SHARE SHARE ACCUMULATED TOTAL
PREMIUM PROFIT
IN EQUITY CAPITAL
BALANCE 1.3.2002 R"000 96 2090 3974 6160
NET PROFIT FOR THE 273 273
12 MONTHS
BALANCE 28.2.2003 96 2090 4247 6433
2003 2002
GROUP CASH FLOW STATEMENT R"000 R"000
Cash flows from operating activities 743 492
Cash flows from investing activities -276 -1443
Cash effects of financing activities 369 214
Net increse in cash and cash equivalents 836 -737
Cash overdraft at the beginning of year -3707 -2970
Cash overdraft at the end of period -2871 -3707
COMMENT
Group operating profit is a result of a reduction in our ovearheads and revised
managemant of our assets.Profit attributable to ordinary shareholders of R279
000,represents a significant improvment on the previous loss shown by the group
for the same period.
The group results have been prepared in accordance with South African Statements
of Generally Accepted Accounting Practice.
The results have been audited by Horwath Leveton Boner, whose unqualified report
is available for inspection at the registered office of the company.
Our order book for the new year is looking good and prospects for growth in the
mining indusrty lead us to antici- pate a better year than the one past.We have
proposed a 1 cent dividend payment subject to AGM approval.
Johannesburg
Registered Office:Cenmag House,12 Harold Flight,Jet Park,PO Box 870,Isando 1600
16th May 2003
Directors: V.Farkas, C.J.E.Lane, C.J.B.Le Roux
Date: 16/05/2003 04:04:37 PM Supplied by www.sharenet.co.za
Produced by the JSE SENS Department
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