| Thu 9 Jun 2022, 16:50 | | IMBALIE BEAUTY LIMITED - Short-form announcement: audited condensed consolidated financial results for the year ended
28 February 2022 |
|
Short-form announcement: audited condensed consolidated financial results for the year ended
28 February 2022
IMBALIE BEAUTY LIMITED
"Imbalie Beauty” or “the Company” or “the Group”
(Incorporated in the Republic of South Africa)
(Registration number 2003/025374/06)
JSE code: ILE
ISIN: ZAE000165239
Short-form announcement: audited condensed consolidated financial results for the year-
ended 28 February 2022
FINANCIAL HIGHLIGHTS FROM CONTINUED AND DISCONTINUED OPERATIONS
28 February 2022 28 February 2021 Percentage
Change
R’000 R’000
Revenue from discontinued
operations 19 004 19 046 (0)%
Basic loss and diluted basic loss
per share (cents) (1.69) (0.68) (149)%
Headline loss and diluted headline
loss per share (cents) (0.07) (0.42) 83%
Net asset value per share (cents) 0.47 2.16 (78)%
Net tangible asset value per share
(cents) 0.47 1.05 (55)%
Note: No dividends were declared during the year ended 28 February 2022.
In October 2020 the Group was successful in procuring a Covid-19 loan from ABSA Bank
Limited, with the bank imposing a pre-condition that the Imbalie Beauty subsidiary that received
the Covid-19 loan, no longer be a part of a listed group on the JSE, which process was finalised
in January 2022 when a consortium of investors, B&B Media (Pty) Limited, took control of the
listed vehicle.
The subsidiaries were disposed of in two separate transactions:
- Placecol Fresh Beauty (Pty) Ltd, Enjoy Beauty (Pty) Ltd, Dream Nails Beauty (Pty) Ltd,
Imbalie Beauty Training Academy (Pty) Ltd and iBLOOM Solutions (Pty) Ltd were disposed
of in a single transaction which was unconditional on 31 January 2022; and
- Imbalie Innovvation (Pty) Ltd, which held the land and buildings of the Group, was disposed
of with effect from 28 February 2022.
The Group’s revenue was flat against the prior year at R19.0 million (2021: R19.0 million) as a
result of the sale of the majority of the subsidiaries in January 2022 resulting in an 11-month
period of trading being compared to the 12-month period in the prior year.
SHORT-FORM STATEMENT
This short-form announcement is the responsibility of the directors. It is only a summary of the
information contained in the full announcement and does not contain full or complete details.
Any investment decision should be based on the full announcement accessible from Thursday,
9 June 2022, via the JSE link and will also be available on the Company’s website at
www.imbaliebeauty.co.za.
The JSE link is as follows:
https://senspdf.jse.co.za/documents/2022/jse/isse/ile/FY2022.pdf
Woodmead
9 June 2022
Designated Adviser
Exchange Sponsors
Date: 09-06-2022 04:50:00
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