Dectronic Limited
(Incorporated in the Republic of South Africa)
(Registration number 1998/013637/06)
("the company" or "the group")
UNAUDITED GROUP RESULTS
for the six months ended 28 February 2001
Reduction in headline loss per share: 41%
Summarised unaudited income statements
Six months Six months
28 February 29 February
2001 2000
R'000 R'000
Operating loss (1 021) (10 948)
Net interest (expense)/income (10) 226
Net loss before taxation (1 031) (10 722)
Taxation - -
Loss from associated companies (25) (855)
Loss attributable to shareholders (1 056) (11 577)
Weighted average number
of shares ('000) 78 020 70 220
Attributable loss per shares (cents) (1,35) (16,49)
Headline loss per share (cents) (1,35) (2,29)
Diluted loss per share (cents) (1,35) (16,49)
Summarised unaudited balance sheets
Shareholders' funds 1 071 4 290
Non-current assets
Fixed assets 132 129
Investments 862 5 632
Other loans receivable 1 114 2 421
Current assets
Accounts receivable 4 36
Cash resources 3 -
Current liabilities
Accounts payable and provisions (551) (3 587)
Bank overdraft (279) (127)
Taxation (214) (214)
1 071 4 290
Summarised unaudited cash flow statements
Net cash utilised by operations (904) (10 092)
Net cash generated by
investigating activities 613 6 798
Net cash flows from
financing activities 367 2 709
Net increase/(decrease) in cash and
cash equivalents 76 (585)
Represented as follows:
Cash and cash equivalent at
beginning of year (352) 458
Cash and cash equivalent at
end of year (276) (127)
Net increase/(decrease) in cash and
cash equivalents 76 (585)
COMMENTARY ON RESULTS
The results reflect the re-organisation of the business activities of the
group. The reduction in the headline loss is a product of the
discontinuation of operating activities that had not penetrated their market
sectors as anticipated.
PROSPECTS
Whilst the operating overheads in the group of companies have been
curtailed, the company continues to experience difficulties in introducing
strong earning drivers. It is not anticipated that this position will
improve in the medium term.
By order of the Board
Directors: A W Browne, R Gibbs, I G Morris, A Vercueil
28 June 2001
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