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Ninian & Lester Holdings Limited - 2002 First Half Financial Results
Announcement
Ninian & Lester Holdings Limited
Registration number 1969/002769/06
Share code NIN ISIN ZAE000004917
("Ninian")
2002 FIRST HALF FINANCIAL RESULTS ANNOUNCEMENT
The unaudited interim group trading results for the six months ended 30 June
2002 are as follows:
ABRIDGED INCOME STATEMENT
Audited
Jan to Jan to Jan to
June 2002 June 2001 Dec 2001
R000 R000 R000
REVENUE 200 148 156 322 366 674
Profit before depreciation
and finance costs 12 746 5 995 22 547
Deduct 7 420 5 593 12 632
- Depreciation 4 878 5 493 10 596
- Interest paid 2 542 263 2 398
- Interest received (73) (163) (362)
Profit before taxation 5 326 402 9 915
Taxation 1 636 38 2 904
Profit attributable to shareholders 3 690 364 7 011
Number of shares in issue 3 750 3 750 3 750
Earnings per share - cents 98 9 187
Less: Depreciation recouped 7 - 8
Headline earnings per share (cents) 91 9 179
Dividend per share (cents)
- Special; declared June 2001 - 600 600
- Interim 20 Nil Nil
- Final - - 60
ABRIDGED BALANCE SHEET At 30 June At 30 June at 31 Dec
R000 R000 R000
ASSETS
Non-current assets
- Property, plant and equipment 35 560 30 686 28 244
- Deferred taxation 1 072 - 1 072
Current assets 174 398 144 360 148 485
211 030 175 046 177 801
EQUITY AND LIABILITIES
Equity
- Capital and reserves 91 930 85 762 90 490
Non-current liabilities
- Interest bearing loans 7 000 - 7 000
- Deferred taxation - 900 -
Current liabilities 112 100 88 384 80 311
211 030 175 046 177 801
ABRIDGED CASH FLOW STATEMENT
Cash (utilised in)/generated
by operating activities (2 200) 5 471 (7 690)
Cash utilised in investment
activities (11 654) (9 156) (12 750)
Cash flows from financing
activities - - 7 000
Net increase in short-term
borrowings (13 854) (3 685) (13 440)
Short-term borrowings
at beginning of year (13 906) (466) (466)
Short-term borrowings
at end of period (27 760) (4 151) (13 906)
STATEMENT OF CHANGES IN EQUITY
Share Non-dis-
capital tributable Retained
and premium reserve income Total
R000 R000 R000 R000
Balance at 1 January 2001 9 587 10 918 88 284 108 789
Net income for year 7 011 7 011
Dividend (25 310) (25 310)
Balance at 1 January 2002 9 587 10 918 69 985 90 490
Net income for period 3 690 3 690
Dividend (2 250) (2 250)
Balance at 30 June 2002 9 587 10 918 71 425 91 930
DIRECTORS` COMMENT
The above results have been prepared in accordance with South African Statements
of Generally Accepted Accounting Practice and these have been consistently
applied in comparison to the previous year. The results reflect an increase in
the level of trading activity for the period. Having regard to the improved
results to 30 June 2002 it is anticipated that the group results for the year
should exceed those for 2001.
DECLARATION OF DIVIDEND NO. 57
Notice is hereby given that a dividend of 20 (twenty) cents per share has been
declared payable to shareholders.
The last day to trade "CUM" the dividend in order to participate in the dividend
will be Friday, 13 September 2002. The shares of Ninian will commence trading
"EX" the dividend from the commencement of business on Monday, 16 September 2002
and the record date will be Friday, 20 September 2002. Payment of the dividend
will be made to shareholders on Monday, 23 September 2002.
No dematerialisation or rematerialisation of Ninian share certificates may take
place between Monday, 16 September 2002 and Friday, 20 September 2002, both
dates inclusive.
By order of the board
G W Rahmer Transfer Secretaries:
B.Com, M.B.L., C.A.(S.A.) Computershare Investor
Secretary Services Limited
DURBAN PO Box 1053
8 August 2002 JOHANNESBURG 2000
Date: 16/08/2002 05:00:00 PM Produced by the JSE SENS Department
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