AUGUST 2001
VELOCITY HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1972/008877/06)
(JSE Share Code: VLY ISIN Code: ZAE 0000 18156)
UNAUDITED RESULTS FOR THE SIX MONTHS ENDED 31 AUGUST 2001
31 Aug 31 Aug 28 Feb
2001 2000 2001
Income statements R'000 R'000 R'000
Net operating loss (261) (3 555) (4 736)
Interest received 7 299 5 751 12 320
Net income before taxation 7 038 2 196 7 584
Taxation 1 817 - 1 440
Net income after taxation 5 221 2 196 6 144
Attributable to outside
shareholders - 505 505
Net income attributable
to shareholders 5 221 2 701 6 649
Number of shares in issue
(`000) 21 880 21 880 21 880
Attributable earnings per
share (cents) 23,9 12,3 30,4
Headline earnings per
share (cents) 23,9 6,6 24,6
Balance sheets
Capital employed
Share capital 54 227 54 227 54 227
Non-distributable reserves 74 474 74 474 74 474
Retained earnings 20 471 11 357 15 250
Ordinary shareholders' funds 149 172 140 058 143 951
Employment of capital
Deferred taxation - - 1 239
Net current assets 149 172 140 058 142 712
Short term assets and cash 152 135 140 058 145 110
Accounts payable 2 963 - 2 398
149 172 140 058 143 951
Net asset value per share
(cents) 682 640 658
Comments
Velocity continues to conduct its business as an investment company and
attributable earnings per share has increased by 94.3% to 23.9 cents.
The Board has deemed it prudent to maintain the company's liquid position
and continues to investigate growth opportunities.
Dividends
No dividends have been recommended or declared.
By order
C A Otto C F Turner
Director Director
Cape Town
7 September 2001
Registered office: Albion Spring, 183 Main Road, Rondebosch 7700
(PO Box 24024, Claremont 7735)
Transfer secretaries: Computershare Services Limited,
Edura House, 41 Fox Street, Johannesburg 2001
(PO Box 61051, Marshalltown 2107)
Directors:
J F Mouton (Chairman), C A Otto, C F Turner, P S Z Strauss
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 has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
