|
PACIFIC HOLDINGS LIMITED -
PACIFIC HOLDINGS LIMITED
Incorporated in the Republic of South Africa
(`the Company")
(Registration number 1987/001960/06)
Unaudited Interim Report for the Six Months ended 31 December 2002
CONDENSED INCOME STATEMENT
Unaudited Unaudited Audited
Six months Six months year ended
Ended ended 30 June 2002
31 Dec 2002 31 Dec 2001
R000 R000 R000
Revenue 2 577 2 294 4 988
Cost of sales (640) (491) ( 937)
Gross profit 1 937 1 803 4 051
Other operating income 483 405 406
Employee compensation costs (1 279) (1 430) (2 840)
Other operating expenses (1 466) (1 286) (2 536)
Operating Loss (325) (508) (919)
Finance costs (375) (385) (806)
Net loss (700) (893) (1 725)
Earnings per Share
Loss per share:
Basic and diluted (cents) (4,35) (5,55) (10,70)
Headline loss (cents) (4,35) (5,55) (10,70)
HEADLINE LOSS
Loss attributable to
Shareholders (700) (893 (1 725)
Headline loss (700) (893) (1 725)
CONDENSED BALANCE SHEET
Unaudited Unaudited Audited
Six months Six months year ended
Ended ended 30 June 2002
31 Dec 2002 31 Dec 2001
R000 R000 R000
ASSETS
Non-current assets
Property, plant and equipment 10 652 11 071 10 889
10 652 11 071 10 889
Current assets
Inventories 74 55 44
Receivables and prepayments 302 156 247
Taxation prepaid 134 134 134
Cash and cash equivalents 15 16 16
525 361 441
Total Assets 11 177 11 432 11 330
EQUITY AND LIABILITIES
Capital and reserves
Ordinary shares 161 161 161
Share premium 9 762 9 762 9 762
Accumulated deficit (18 106) (16 574) (17 406)
(8 183) (6 651) (7 483)
Non-current liabilities
Shareholders" loans 13 984 11 918 13 133
13 984 11 918 13 133
Current liabilities
Trade and other payables 768 855 812
Receiver of Revenue - VAT 90 580 192
Current portion of borrowings 59 268 196
Bank overdraft 4 459 4 462 4 480
5 376 6 165 5 680
Total liabilities 19 360 18 083 18 813
Total equity and liabilities 11 177 11 432 11 330
NUMBER OF ORDINARY SHARES
Issued @ 1 cent each 16 095 320 16 095 320 16 095 320
CONDENSED STATEMENT OF CHANGES IN EQUITY
Share Accumulated
Capital Deficit Total
R000 R000 R000
Balance at 1 July 2001 9 923 (15 681) (5 758)
Net loss - (893) (893)
Balance at 31 December 2001 9 923 (16 574) (6 651)
Balance at 1 July 2002 9 923 (17 406) (7 483)
Net loss - (700) (700)
Balance at 31 December 2002 9 923 (18 106) (8183)
CONDENSED CASH FLOW STATEMENT
Unaudited Unaudited Audited
Six months Six months Year
31 Dec 2002 31 Dec 2001 30 June 2002
R 000 R000 R000
Net cash utilized by
operating activities (642) (789) (1 946) ,
Net cash utilized in
investing activities (31) - (3)
Net cash generated from
financing activities 693 812 1 954
Increase in cash and cash
equivalents 20 23 5
Movement in Cash
and cash equivalents at
Start of interim period (4 464) (4 469) (4 469)
Increase 20 23 5
At end of interim period (4 444) (4 446) (4 464)
FINANCIAL RESULTS
The group incurred an operating loss of R325 000 for the six months ended 31
December 2002.
The financial statements have been prepared in accordance with South African
Statements of Generally Accepted Accounting Practice. The accounting policies
applied are consistent with those applied in the previous financial period.
COMMENT
The company operates a hotel in the suburb of Brackenfell near Cape Town.
Management continues to work on marketing itself to alternative markets in the
East. We have created an interest.
REVIEW BY AUDITORS
The company"s auditors, PriceWaterhousCoopers Inc. carried out a limited review
of the preliminary report balance sheet and income statement information for the
six months ended 31 December 2002. Their qualified report on the ability of the
group to continue as a going concern and the carrying amount of land and
buildings is available for inspection at the company"s registered office.
DIVIDENDS
No ordinary shareholder dividend has been proposed or paid.
DIRECTORS
Dato Choo Eng Guan #
Yap Wee Chun #
P J A Mphafudi
# Malaysian
REGISTERED OFFICES
The Cape Rendezvous Hotel
Brackenfell Boulevard
Brackenfell 7561 Western Cape
| 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 ] | |||||||||||||
|
|||||||||||||
