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MORIBO LEISURE LIMITED - UNAUDITED CONSOLIDATED RESULTS FOR THE PERIOD ENDED 30
JUNE 2003
Unaudited consolidated results for the period ended 30 June 2003
Consolidated income statement
Unaudited Unaudited
for the six for the six
months ended months ended
30 June 2003 30 June 2002
R"000 R"000
Turnover 1 011 801
Operating profit/(loss) from 262 (300)
continuing operations
Operating profit/(loss) before 262 (300)
abnormal items
Abnormal items - (2 250)
Development cost written off - (2 250)
Profit/(loss) before taxation 262 (2 550)
Taxation - -
Retained income/(loss) 262 (2 550)
Headline earnings/(loss) per 0,45 (0,51)
share
Earnings/(loss) per share 0,45 (4,36)
(cents)
Abridged consolidated cash flow statement
Unaudited Unaudited
for the six for the six
months ended months ended
30 June 2003 30 June 2002
R"000 R"000
Operating activities (632) (1 173)
Cash generated from operations (632) (1 172)
Interest paid - (1)
Investing activities (13) (1 852)
Net increase/(decrease) in cash (645) (3 025)
and cash equivalents
Cash and cash equivalents at 3 745 7 806
beginning of period
Cash and cash equivalents at 3 100 4 781
end of period
Consolidated balance sheet
Unaudited Unaudited
as at as at
30 June 2003 30 June 2002
R"000 R"000
Assets
Non-current assets
Tangible fixed assets 232 189
Unlisted investments 4 558 6 945
4 790 7 134
Current assets 9 324 7 089
Receivables and prepayments 6 224 2 308
Cash and cash equivalents 3 100 4 781
Total assets 14 114 14 223
EQUITY AND LIABILITIES
Capital and reserves
Share capital and premium 83 033 83 418
Non-distributable reserves 7 276 7 276
Accumulated loss (77 213) (77 733)
Total shareholders" equity 13 096 12 961
Non-current liabilities
Long-term borrowings - -
Current liabilities 1 018 1 262
Trade and other payables 926 1 262
Provisions 92 -
Total equity and liabilities 14 114 14 223
Issued ordinary shares 55 230 513 58 430 513
Weighted number of shares in 58 351 608 58 430 513
issue
Net tangible asset value per 22,44 22,18
share (cents)
Net asset value per share 22,44 22,18
(cents)
Statement of changes in equity
for the six months ended 30 June 2003
Non-
distri- Retained
Stated butable profit/
capital reserves (loss) Total
R"000 R"000 R"000 R"000
Balance at
31 December 2002 83 418 7 276 (77 475) 13 219
Repurchase of shares (385) - - (385)
Current year profit - - 262 262
Balance at 30 June 83 033 7 276 (77 213) 13 096
2003
Comments on the results
Your company reported a headline earnings per share of 0,45 cents (2002: loss
0,51 cents). The tangible net asset value per share is 22,44 cents (2002: 22,18
cents).
The results have been reviewed and prepared in accordance with South African
Statements of Generally Accepted Accounting Practice and in the manner required
by the Companies Act in South Africa.
Specific share buyback - Moribo Investments (Pty) Limited ("Moribo Investments")
On 10 July 2003, the shareholders voted unanimously at the general meeting to
acquire the 3 200 000 ordinary shares in the issued share capital of the company
from Moribo Investments at a purchase consideration of 12 cents per share. The
results have taken the effect of the share buy back into accounts.
The acquisition of an investment in a beverages bottling plant
Subject to certain suspensive conditions including the approval of shareholders
at a general meeting, the company has entered into an agreement for the
acquisition of 60% of a bottling plant situated in Gauteng. A detailed
annoucement will be published during the course of the week.
A circular will be mailed to shareholders in due course.
On behalf of the board
WS Yeowart
30 September 2003
Moribo Leisure Limited Registration number 1919/001318/06
Share code MRB ISIN code ZAE000014023
Board of directors: Mr WS Yeowart (Chairperson),
Mr R Biesheuvel (Chief Executive Officer), Mr M Lutrin,
Ms P Mashabela, Mr K Michael, Ms H Ndude, Mr A Norman,
Mr M Ramollo, Mr EP Rechter*, Mr V Zwane
*Israel
Transfer secretaries:
Computershare Limited
(Registration number 1958/003546/06)
Registered office: 2nd Floor, Building 14, The Woodlands, Woodmead
Date: 30/09/2003 07:05:04 AM Supplied by www.sharenet.co.za
Produced by the JSE SENS Department
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