|
Command Holdings Limited - Interim Financial Results For The Six Months Ended 30
Release Date: 06/12/2002 07:57:33 Code(s): CMA
Command Holdings Limited - Interim financial results for the six months ended 30
September 2002
Command Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1999/014759/06)
JSE Share code: CMA ISIN: ZAE000023131
("Command" or "the Group")
Interim financial results for the six months ended 30 September 2002
Group consolidated income statements
Unaudited Unaudited Audited
Six months Six months Year
ended ended ended
30 Sep 2002 31 Dec 2001 31 Mar 2002
R`000 R`000 R`000
Revenue 36 532 40 640 113 020
Costs incurred in producing revenue (23 138) (30 192) (76 115)
Depreciation (736) (636) (1 075)
Selling and administrative expenses (10 744) (15 455) (41 402)
Sundry income 1 719 72 8 310
Operating income/(loss)
before borrowing costs 3 633 (5 571) 2 738
Borrowing costs net of interest income (1 208) (563) (1 739)
Attributable income/(loss) 2 425 (6 134) 999
Amortisation of intangibles (346) (116) (617)
Other net non-operating costs (60) (1 083) (242)
Net income/(loss) before taxation 2 019 (7 333) 140
Taxation (713) 517 4 438
Net income/(loss) for the period 1 306 (6 816) 4 578
Outside shareholders` share of (income)/loss (259) 1 994 730
Share of associated company losses (21) (117) (372)
Ordinary shareholders` net income/(loss) 1 026 (4 939) 4 936
Total number of shares in issue
and allotted throughout period (`000) 101 848 101 848 101 848
Earnings/(Loss) per share (cents) 1,01 (4,85) 4,85
Headline earnings/(loss) per share(cents) 1,29 (4,14) 5,71
Group Consolidated Cash Flow Statements
Unaudited Unaudited Audited
Six months Six months Year
ended ended ended
30 Sep 2002 31 Dec 2001 31 Mar 2002
R`000 R`000 R`000
Cash flows from operating activities (2 166) 2 671 6 416
Cash flows from financing activities 24 293 (1 739)
Cash flows from investing activities (822) (778) (1 646)
Net movement in cash resources 1 368 2 186 3 031
Cash resources at beginning of period (1 696) (5 209) (4 727)
Cash resources at end of period (328) (3 023) (1 696)
Group segmental review for the six months ended 30 September 2002
Electronic Parking Group
Guarding security management and
services services services other
% % % %
Revenue 66 31 3 -
Earnings/(Loss) 110 36 12 (58)
Headline earnings/(loss) 113 24 7 (44)
Assets 38 47 4 11
Liabilities 194 52 3 (149)
Net (liability)/asset value (2 541) (38) 20 2 659
Additions to assets 100 - - -
Depreciation 65 34 1 -
Ammortisation - 43 16 41
Headline earnings per share (cents)
Earnings per share is reconciled to
headline earnings per share as
follows:
Earnings per share (cents) 1,01
Amortisation of intangibles 0,34
Loss on disposal of tangible assets 0,06
Taxation effect (0,02)
Outside shareholders` share (0,10)
Headline earnings per share (cents) 1,29
Group consolidated balance sheets
Unaudited Unaudited Audited
30 Sep 2002 31 Dec 2001 31 Mar 2002
R`000 R`000 R`000
Assets
Non-current assets
Tangible assets 3 984 4 102 3 958
Intangible assets 4 191 4 693 4 537
Deferred taxation 4 495 1 484 5 246
Rental debtors and loans 9 377 2 207 9 662
Total non-current assets 22 047 12 486 23 403
Current assets
Inventories 1 996 4 390 2 508
Accounts receivable 19 188 11 094 12 392
Bank balances and cash 3 572 58 2 709
Total current assets 24 756 15 542 17 609
Total assets 46 803 28 028 41 012
Equity and liabilities
Capital and reserves
Share capital 1 1 1
Share premium 7 953 7 953 7 953
Accumulated loss (6 639) (21 717) (7 665)
Outside shareholders` interests 1 356 - 1 096
Total capital and reserves 2 671 (13 763) 1 385
Non-current liabilities
Interest-free deferred liabilities 323 1 145 396
Long-term borrowings 2 213 2 173 10 128
Total non-current liabilities 2 536 3 318 10 524
Current liabilities
Short-term borrowings 11 064 1 529 3 052
Accounts payable 23 420 30 506 18 680
Taxation 616 693 616
Bank overdrafts 3 900 3 082 4 405
Total current liabilities 39 000 35 810 26 753
Provisions 2 596 2 663 2 350
Total equity and liabilities 46 803 28 028 41 012
Net asset/(liability) per share(cents) 2,62 (13,51) 1,36
Group consolidated Statements of changes in equity
Share capital Accumulated
and premium loss Total
R`000 R`000 R`000
Balance at 31 December 2000 7 954 (12 601) (4 647)
Ordinary shareholders` net income - 4 936 4 936
Balance at 31 March 2002 7 954 (7 665) 289
Ordinary shareholders` net income - 1 026 1 026
Balance at 30 September 2002 7 954 (6 639) 1 315
NOTES:
1. Operating lease commitments
The Group has operating lease commitments over and above the liabilities
disclosed in the balance sheet in the amount of R1 541 000 (31 December 2001 -
R7 200 000).
2. Capital expenditure
Capital expenditure for the period amounted to R887 000 (31 December 2001 -
R1 736 000).
3. Contingent liabilities
The Group has various contingent liabilities arising from rental operations
and installation guarantees totaling R662 000.00 (31 December 2001 - R1 024
000.00).
4. Generally Accepted Accounting Practice
The six months financial statements comply with South African Statements of
Generally Accepted Accounting Practice and the accounting policies used are
consistent in all material respects with those used for the March 2002 financial
statements.
Nature of business:
The Group offers value added guarding, cash-in-transit, investigation,
electronic security and parking management services and solutions.
Results and prospects:
The Board is pleased with the results of their restructuring and look forward
to improving on these results in the months ahead.
The efforts to rationalise and reorganise the Group are proving successful and
the benefits of our BEE status will continue to contribute to the future growth
of the Group.
Directors:
Z J Sithole (Non-executive Chairman),
M S Mowzer (Chief Executive Officer),
K Biesheuvel (Financial Director),
M I Parker (Non-executive) and
K G Druker (Non-executive) continued to serve as directors during
the period under review.
By order of the Board
Z. J. Sithole M. S. Mowzer K. Biesheuvel J. C. Kaufmann
Chairman Chief Executive Officer Financial Director Company
Secretary
Cape Town
6 December 2002
Transfer secretaries: Registered office:
Computershare Investor Command House
Services Limited 394 Voortrekker Road
70 Marshall Street Maitland
Johannesburg Cape Town
Date: 06/12/2002 07:57:25 AM Produced by the JSE SENS Department
| 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. | |||||||||||||
| Other Profile Group sites: FundsData Online (unit trust data) | Profile Group corporate site | |||||||||||||
| [ Terms of Use | Privacy Policy | PAIA manual | FAQs/Help | Site Map | © Copyright Reserved 2026 ] | |||||||||||||
|
|||||||||||||
