|
Alacrity -
Alacrity Financial Services Limited
(Registration number 1994/000078/06)
Share Code : ALY
ISIN Code : ZAE000023966
Unaudited group interim results for the six months ended 30 June 2003
Consolidated Income Statement
Unaudited six months Unaudited six Audited year
ended 30 June 2003 months ended 30 ended
R"000 June 2002 R"000 31 December 2002
R"000
Revenue 48,711 54,839 104,616
Continued 48,711 45,157 104,616
Operations
Disposed - 9,682 -
Operations (see note)
Other - - 3,287
income
48,711 54,839 107,903
Administrative (2,766) (3,635) (6,590)
expenses
Operating (45,204) (50,286) (96,581)
expenses
Continued (45,204) (40,939) (96,581)
Operations
Disposed - (9,347) -
Operations (see note)
Operating 741 918 4,732
profit
Finance income 1,261 (340) 1,413
/ (cost)
Profit before 2,002 578 6,145
tax
Continued 2,002 243 6,145
Operations
Disposed - 335 -
Operations (see note)
Taxation (32) - (792)
Net profit 1,970 578 5,353
Continued 1,970 243 5,353
Operations
Disposed - 335 -
Operations (see note)
Earnings per share (
cents )
Basic 1.68 0.43 4.22
Diluted 1.68 0.42 4.22
Headline earnings per
share ( cents )
Basic 1.68 0.88 2.13
Diluted 1.68 0.86 2.13
Dividends per - - -
ordinary share (
cents )
Headline
Earnings
Profit after 1,970 578 5,353
taxation
Profit on sale of - - (3,101)
subsidiary
Amortisation of - 619 458
goodwill arising on
consolidation
Headline profit 1,970 1,197 2,710
Basic earnings per share (cents)
Profit 1,970 578 5,353
after taxation
Weighted 117,351 135,631 126,996
average number of
ordinary shares in
issue ( "000)
Earnings per 1.68 0.43 4.22
share (cents)
Fully diluted earnings
per share (cents)
Profit 1,970 578 5,353
after taxation
Weighted 117,351 135,631 126,996
average number of
ordinary shares in
issue ( `000)
Shares awaiting - 2,860 -
issue
117,351 138,491 126,996
Fully diluted 1.68 0.42 4.22
earnings per share
(cents)
Headline earnings per share (cents)
Headline 1,970 1,197 2,710
profit
Weighted 117,351 135,631 126,996
average number of
ordinary shares in
issue ( `000)
Headline 1.68 0.88 2.13
earnings per share
(cents)
Fully diluted earnings
per share (cents)
Headline 1,970 1,197 2,710
profit
Weighted 117,351 135,631 126,996
average number of
ordinary shares in
issue ( "000)
Share - 2,860 -
awaiting issue
117,351 138,491 126,996
Fully diluted 1.68 0.86 2.13
earnings per share
(cents)
Statement of Change
in Equity
Number of Share Share Accumulated
Shares in capital premium loss Total R"000
issue R"000 R"000 R"000
("000)
Balance at 01 137,618 1,376 13,081 (13,629) 828
January 2002
Net profit - - 578 578
Balance at 30 137,618 1,376 13,081 (13,051) 1,406
June 2002
Balance at 1 137,618 1,376 13,081 (13,051) 1,406
July 2002
Net profit - - 4,775 4,775
Cancellation of (7,228) (72) (2,030) - (2,102)
shares
repurchased
Treasury shares acquired (130) (2,478) - (2,608)
(13,038,970)
Balance at 31 130,390 1,174 8,573 (8,276) 1,471
December 2002
Balance at 1 130,390 1,174 8,573 (8,276) 1,471
January 2003
Net profit - - 1,970 1,970
Balance at 30 130,390 1,174 8,573 (6,306) 3,441
June 2003
Consolidated Balance
Sheet
Unaudited Unaudited 30 June Audited
30 June 2003 2002 R "000 31 December 2002
R "000 R "000
Assets
Non - current 35,862 31,631 35,722
assets
Property, plant 21,281 9,606 22,250
and equipment
Intangible 13,069 19,808 11,960
assets
Other 1,512 2,217 1,512
investments
Current assets 32,347 53,242 34,908
Receivables and 5,962 8,320 4,954
prepayments
Receiver 423 423 423
of revenue
Cash and cash 25,962 44,499 29,531
equivalents
Total assets 68,209 84,873 70,630
Equity and liabilities
Capital and reserves 3,441 1,406 1,471
Ordinary shares 1,174 1,376 1,174
Share premium 8,573 13,081 8,573
Accumulated (6,306) (13,051) (8,276)
loss
Non - current 40,470 32,996 40,470
liabilities
Interest 40,470 32,996 40,470
bearing borrowings
Current liabilities 24,298 50,471 28,689
Trade and other 19,061 46,398 21,215
payables
Provision for 153 279 852
taxation
Current portion 3,265 1,283 4,726
of borrowings
Leave pay 1,819 2,511 1,896
provision
Total liabilities 64,768 83,467 69,159
Total equity and 68,209 84,873 70,630
liabilities
Consolidated Cash Flow Statement
Unaudited six Unaudited six Audited year ended
months ended 30 months ended 30 31 December 2002
June 2003 R"000 June 2002 R"000 R"000
Cash flow from operating activities
Cash (tilized (231) 17,251 23,074
in) / generated from
operations
Financing 1,261 (340) 4,871
earnings /(costs)
Taxation paid (731) - (57)
Increase / 1,701 (12,506) (30,527)
(Decrease) in
Insurer Payables
Net cash generated 2,000 4,405 (2,639)
from / ( tilized in
) operating
activities
Cash tilized in investing activities
Acquisition of - - (3,385)
subsidiaries
Purchase of (3,134) (371) (828)
intangible assets
Tangible (975) (401) (16,633)
assets acquired
Proceeds from - - 1,232
disposal of tangible
and intangible
assets
Net cash tilized in (4,109) (772) (19,614)
investing activities
Cash flow from financing activities
Increase in - - 7,474
long - term
liabilities
( Decrease ) / (1,460) (1,215) 2,229
Increase in short -
term loans
Net cash flow from (1,460) (1,215) 9,703
financing activities
Net (decrease) / (3,569) 2,418 (12,550)
increase in cash and
cash equivalents
Change in cash and (5,270) 14,924 17,977
cash equivalents
before effect of
insurer payables
Cash effect of 1,701 (12,506) (30,527)
insurer payables
Cash and cash 29,531 42,081 42,081
equivalents at
beginning of the
year
Cash and cash 25,962 44,499 29,531
equivalents at end
of period
Notes
These results have been compiled in accordance with South African Statements
of Generally Accepted
Accounting Practice.
The same accounting policies and methods of computation have been used in the
preparation of these unaudited
interim statements as were used in the preparation of the audited financial
statements to 31 December 2002.
Line items in respect of disposed operations relate to subsidiaries sold in
the previous financial year.
Commentary
The Board is pleased to announce the interim results of Alacrity for the six
months ended 30 June 2003.
These results show the much improved performance of the company after certain
restructuring initiatives
were completed and some activities were disposed of during the previous
financial year, leaving the
company with two focused wholly-owned subsidiaries, namely Prestasi Brokers
and Pamodzi Risk Solutions.
Compared with the interim results for the same period last year, profit
before tax on continued
operations increased by 724% and, on an after tax basis, by 710%. Headline
earnings per share increased by 91%.
The Board is confident that the trend of improved performance will be
maintained during the second half
of the year and that additional income streams, that are expected to
aterialize during the latter part of the year,
will contribute positively to the full year results.
The Board is therefore confident that Alacrity has turned the corner and that
shareholders would see
a sustained improvement in the company"s performance henceforth.
By order of the
Board
NA Ntsele Johannesburg
Chairman 15 August 2003
Directors
NA Ntsele (Chairman), MH Lobban , JJ du Plooy, L Keel (Swiss),
D Masson, MB Mkhize, SA Msibi, MH Muller *, ZBH Nkosi *.
* Executive
Transfer Registered JSE Sponsor Company Secretary
secretaries office
Computershare Pamodzi House Quaestor Capital Quaestor Capital Corporate
Investor (Pty) Ltd Governance
Services
9th Floor 5 Willowbrook 44 Wierda Road Services (Pty) Ltd
Close West
70 Marshall Melrose Sandton 44 Wierda Road West
Street
Johannesburg, Johannesburg, 2146 Sandton
2001 2001
2146
Date: 15/08/2003 04:40:28 PM Supplied by www.sharenet.co.za
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 ] | |||||||||||||
|
|||||||||||||
