| Fri 17 Aug 2001, 0:00 | | Ninian - Unadited Results |
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NINIAN & LESTER HOLDINGS LIMITED
Reg. No. 69/02769/06
(Ninian)
(NIN) (ISIN: ZAE 00000 4917)
ANNOUNCEMENT TO SHAREHOLDERS
The unaudited interim group trading results for the six months ended 30 June, 2
ABRIDGED INCOME STATEMENT Audited
Jan to June Jan to June Jan to Dec.
2001 2000 2000
R 000 R 000 R 000
Turnover 156 322 150 686 325 444
Trading income 5 995 4 931 21 162
Deduct 5 593 3 634 10 824
- Depreciation 5 493 3 338 10 026
- Interest 100 296 798
Income before taxation 402 1 297 10 338
Taxation 38 316 1 100
INCOME after Taxation 1 241 98 (2 679)
attributable to members
Outside Shareholders' - - -
Interest
Income attributable to 364 981 9 238
members
Number of shares in issue 3 750 3 750 3 750
Earnings per share - cents 9 26 246
Headline earnings per share 9 26 228
- cents
Dividend per share - cents
- Special; declared June 600
2001
- Interim Nil 10 10
- Final 75
ABRIDGED BALANCE SHEET at 30 June at 30 June at 31 December
2001 2000 2000
Capital Employed
Shareholders' funds 85 762 102 451 107 897
- Outside Shareholders - - -
Deferred taxation 900 1 132 960
- Loans - -
Total Capital Employed 86 662 103 583 108 857
Represented by
Fixed assets 30 686 28 593 25 769
- Land and buildings 8 135 8 314 7 429
- Other 22 551 20 279 18 340
Net current assets 74 990 83 088
- Current assets 55 976 143 665 122 688
- Current liabilities
Interest bearing (4 151) (10 615) (466)
Shareholders for (22 498) (375) (2 844)
dividend
Other (61 735) (57 685) (36 290)
Total Employment of Capital 86 662 103 583 108 857
ABRIDGED CASH FLOW STATEMENT
Cash (utilised)/generated by 5 471 (23 805) (10 498)
operating activities
Income before taxation 1,797,408 335000 4 307 000
Adjustments for: 5,264,653 6537000 14 962 000
Depreciation 3,672,681 4747000 9 251 000
Net interest paid 1,736,291 1899000 6 162 000
Surplus on disposal of fixed -144,319 -109000 (451 000)
assets
Operating profit before 7,062,061 6872000 19 269 000
working capital changes
Working capital changes -6,920,358 -17410000 6 379 000
Decrease / (increase) in 2,694,803 5141000 10 883 000
trade and other accounts
receivables
Increase in inventory -2,235,262 -9220000 7 239 000
Decrease in trade and other -7,379,899 -13331000 (11 743 000)
accounts payables
Cash (utilised in) generated 141,703 -10538000 25 648 000
by operations
Net interest paid -1,736,291 -1899000 (6 162 000)
Dividends paid -2887000 (3 074 000)
Taxation paid -939,278 -1997000 (2 203 000)
Cash utilised in (9 156) (3 459) (6 617)
investment activities
Additions to -3,489,628 -6188000 (7 328 000)
fixed assets
Proceeds from disposal of 266,000 210000 652 000
fixed assets
Purchase of remaining 40% of - -6266000 (6 266 000)
subsidiary
Net (decrease)/increase in (3 685) (27 264) (17 115)
short term borrowings
Cash resources/(short term (466) 16 649 16 649
borrowings) at beginning of
period
Cash resources/(short term (4 151) (10 615) (466)
borrowings) at end of period
Decrease in long term -
borrowings
Short term borrowings at -2,807,000 -4074000 (4 074 000)
beginning of year
Short term borrowings at end -8,564,494 -33639000 (2 807 000)
of period
DIRECTORS' COMMENT
As anticipated at the time of the declaration of the special dividend on 4 June
results for the first half of the year were lower than those achieved for the s
ago. Present indications are that profits for the full year
ended 31 December, 2001will be lower than those achieved last year.
As previously advised, in view of the special dividend, the directors are not d
Transfer Secretaries
Mercantile Registrars Ltd.
P O Box 1053
JOHANNESBURG
2000
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