|
CMG
CMG
CMG - Cenmag Holdings Limited - Unaudited results for the six months ended 30
August 2008
CENMAG HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1987/004821/06)
Share code: CMG ISIN code: ZAE000001533
(`Cenmag" or `the company`)
UNAUDITED RESULTS FOR THE SIX MONTHS ENDED 30 AUGUST 2008
GROUP BALANCE SHEET Six months Six months Audited year
ended ended ended
30 August 31 August 29 February
2008 2007 2008
R`000 R`000 R`000
ASSETS
Non-current assets 7 270 1 443 7 423
Fixed assets 7 270 1 329 7 423
Loans receivable 114
Current assets 12 254 12 524 11 623
Total assets 19 524 13 967 19 046
EQUITY AND LIABILITIES
Capital and reserves 10 518 7 892 9 600
Minority Interest 435 396 422
Interest bearing 2 472 470
liabilities - long and 2 716
short term
Interest free 6 099 5 209 6 308
liabilities
Total equity and 19 524 13 967 19 046
liabilities
Number of shares in 9 600 9 600 9 600
issue (000`s)
Net asset value per
share information
Net asset value per 109.56 82.21 100.00
share (cents)
Net tangible asset 109.56 82.21 100.00
value per share (cents)
GROUP INCOME STATEMENTS Six months Six months Audited year
ended ended ended
30 August 31 August 29 February
2008 2007 2008
R`000 R`000 R`000
Gross Revenue 17 339 18 312 35 702
Cost of sales 12 622 13 485 25 346
Gross profit 4 717 4 827 10 356
Operating costs 3 424 3 416 6 443
Operating income 1 293 1 411 3 913
Depreciation 153 118 306
Operating income 1 140 1 293 3 607
Net finance (income) (171) (102) (237)
costs
Profit before tax 1 311 1 395 3 844
Taxation 380 407 1 122
Profit after tax 931 988 2 722
Minority interest 13 14 40
Profit attributable to 918 974 2 682
shareholders
Headline earnings 918 974 2 697
Earnings per share
information
Number of shares in 9 600 9 600 9 600
issue (000`s)
Attributable earnings per 9.56 27.93
ordinary share (cents) 10.15
Headline earnings per 9.56 28.09
share (cents) 10.15
ABRIDGED GROUP CASH Six months Six months Audited year
FLOW STATEMENTS ended ended ended
30 August 31 August 29 February
2008 2007 2008
R`000 R`000 R`000
Cash flows from 1 242 2 301 6 291
operating activities
Cash flows from (2) (250) (6 545)
investing activities
Cash effects of (214) 314 2 644
financing activities
Net increase in cash and 1 026 2 365 2 390
cash equivalents
Bank Balance at 4 433 2 043 2 043
beginning of year
Cash at the end of 5 459 4 408 4 433
period
SEGMENTAL REPORTING Six months Six months Audited
ended ended year ended
30 August 31 August 29 February
2008 2007 2008
R`000 R`000 R`000
Revenue
Manufacturing and 7 379 9 060 16 542
Service
Wholesaling 9 960 9 252 19 160
Total 17 339 18 312 35 702
Contribution to
operating income
Manufacturing and 1 121 1267 3 457
Service
Wholesaling 172 144 456
Total 1 293 1 411 3 913
GROUP STATEMENT OF Shar Share Accumulat Total
CHANGES IN EQUITY e premium ed profit
capi R`000 R`000 R`000
tal
R`00
0
Balance at 01 March 96 2 090 4 732 6 918
2007
Net profit for the year -- -- 2 682 2 682
Balance at 29 February 96 2 090 7 414 9 600
2008
Net profit for six -- -- 918 918
months
Balance at 30 August 96 2 090 8 332 10 518
2008
COMMENTARY
RESULTS
The board presents its unaudited results for the six months ended 30 August
2008.The company is an investment holding company and its subsidiaries are
primarily involved in the manufacture and servicing of electromagnets and motor
rewinding and the wholesaling of electrical and related equipment. The unaudited
abridged results are presented in accordance with IAS 34: Interim Financial
Reporting and the JSE Listings Requirements.
BUSINESS OVERVIEW
In line with prevailing economic conditions, the group experienced a small
decrease in local and overseas demand for its products. Group headline earnings
per share declined by 5.75% on a 5.31% volume reduction, from 10.15 cents
earnings to 9.56 cents earnings. We have maintained our earnings capabilities in
line with our sales.
FUTURE PROSPECTS
Prospects for the year ending February 2009 are fair and not so easy
predictable, as the local and international mining sectors are subjected to the
current global crises. In view of the above, the directors are of the opinion,
that the performance will be dependent upon sentiments and perceptions of the
major players in the mining industry.
ACCOUNTING POLICIES
The accounting policies applied are in compliance with International Financial
Reporting Standards ("IFRS"). The accounting policies and methods of
measurement and recognition are consistent with those applied in the previous
financial period.
GENERAL
1.No new shares were issued and no special resolutions were passed during the
period under review
2.No dividends were recommended or declared for the period.
Johannesburg
23 October 2008
Company Secretary Registered Office
V. Farkas M. Econ C.A. (S.A.) 30 Bisset Road, Jet Park,
PO Box 870, Isando, 1600 Boksburg
PO Box 870, Isando, 1600
Directors
V.Farkas, C.J.B. Le Roux, B.I. Mazibuko, E.M. Greenblatt
Sponsor Transfer Office
Arcay Moela Sponsors Computershare Investor Services
(Proprietary) Limited 2004 (Proprietary) Limited
Date: 23/10/2008 11:11:11 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
| Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information. | |||||||||||||
| Other Profile Group sites: FundsData Online (unit trust data) | Profile Group corporate site | |||||||||||||
| [ Terms of Use | Privacy Policy | PAIA manual | FAQs/Help | Site Map | © Copyright Reserved 2026 ] | |||||||||||||
|
|||||||||||||
