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(Formerley Aroma Liquor Holdings Limited)
Incorporated in the republic of south africa
("the Company")
(Registration number 1987/001960/06)
Unaudited Interim Report For The Six Months Ended 31 December 2000
Condensed Group Income Statement
Unaudited Unaudited Audited
six months ended six months ended year ended
31 December 2000 31 December 1999 30 June 2000
R 000 R 000 R 000
REVENUE 3 650 4 210 7 999
Cost of sales (813) (985) (1 839)
Gross profit 2 837 3 225 6 160
Other operating income 230 145 276
Employee compensation costs (1 629) (1 549) (3 024)
Other operating expenses (1 417) (2 010) (3 664)
Operating profit/(loss) 21 (189) (252)
Finance costs (456) (691) (1 265)
Net loss (435) (880) (1 517)
Earnings per share
Basic and diluted loss per
share (cents) (2.70) (5.46) (9.40)
Condensed Group Balance Sheet
Unaudited Unaudited Audited
six months ended six months ended year ended
31 December 2000 31 December 1999 30 June 2000
R 000 R 000 R 000
Assets
Non-current assets
Property, plant and equipment 11 391 11 844 11 599
Non-current receivable 1 000 1 000 1 000
12 391 12 844 12 599
Current assets
Inventories 85 134 85
Receivables and prepayments 253 292 314
Taxation prepaid 134 134 134
Cash and cash equivalents 22 18 25
494 578 558
Total assets 12 885 13 422 13 157
Equity and liabilities
Capital and reserves
Ordinary shares 161 161 161
Share premium 9 762 9 762 9 762
Accumulated deficit (14 850) (13 778) (14 415)
(4 927) (3 855) (4 492)
Non-current liabilities
Shareholders' loans 10 560 7 833 9 402
Interest bearing borrowings 21 830 543
10 581 8 663 9 945
Current liabilities
Trade and other payables 738 899 1 188
Receiver of Revenue (V.A.T) 873 61 266
Current portion of borrowings 833 1 900 1 050
Bank overdraft 4 787 5 754 5 200
7 231 8 614 7 704
Total liabilities 17 812 17 277 17 649
Total equities and liabilities 12 885 13 422 13 157
Financial Results
The company turned the operating loss of R252 000 for the year ended 30 June
2000 into a profit of R21 000 for the six month period under review.
Comment
The company operates a hotel near Cape Town. The hotel is operating at a loss,
although the operations were stabilised and the net operating loss brought down
significantly since new management took control.
Prospects
The situation will not improve any further without an additional capital
injection in the company.
Dividends
No ordinary shareholder dividend has been proposed or paid.
Directors
Ng Sing Hwa resigned on 30 October 2000 and Kim Pak Wong resigned on 31
December 2000.
On behalf of the board
Dato Choo Eng Guan
25 April 2001
Directors
Dato Choo Eng Guan #
Yap Wee Chun #
# Malaysian
Registered Offices
The Cape Rendezvous Hotel
Brackenfell Boulevard
Brackenfell
Western Cape
Transfer Office
Mercantile Registrars Limited
6th Floor, 94 President Street
Johannesburg 2001
P O Box 1053 Johannesburg 2000
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