|
S & J Land Holdings Limited - Unaudited Interim Results For The Six Months Ended
31 December 2003
S & J Land Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1988/000139/06)
(`the company`)
JSE Code: SJL - ISIN No: ZAE 000009965
Directors` K W Fynn, W N B Imrie*; M Koppel*; D C L Wassung. * British
UNAUDITED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 DECEMBER 2003
ABRIDGED CONSOLIDATED INCOME STATEMENTS
Audited
Six months ended Year ended
31 December 30 June
2003 2002 2003
R` 000 R` 000 R` 000
Turnover 375 320 715
Operating loss (752) (939) (708)
Fair value adjustment of
investment properties - - 5,266
Results from operating
activities (752) (939) 4,558
Net interest received 322 488 977
Profit (loss) before taxation (430) (451) 5,535
Taxation (657) - (2)
Profit (loss) after taxation (1,087) (451) 5,533
Loss for the period (1,087) (451) 5,533
Ordinary shares in issue (`000) 26,300 26,300 26,300
Basic earnings (loss) per
share (cents) (4,1) (1,7) 21,0
Headline earnings (loss)
per share (cents) (4,1) (1,7) 1,0
Reconciliation between basic
earnings (loss)
and headline earnings (loss)
Basic earnings (loss) (1,087) (451) 5 533
Fair value adjustment of
investment properties - - (5 266)
Amortisation of mining rights - - 2
Headline earnings (loss) (1,087) (451) 269
ABRIDGED CONSOLIDATED BALANCE SHEETS
ASSETS
Non-current assets 51,768 46,506 51,769
Property, plant and equipment 1 2 2
Investment properties 51,765 46,499 51,765
Intangible assets 2 5 2
Current assets 2,402 8,228 8,096
Trade and other receivables 31 40 81
Loan to director 352 - 352
Cash and cash equivalents 2,019 8,188 7,663
TOTAL ASSETS 54,170 54,734 59,865
EQUITY AND LIABILITIES
Equity capital and reserve 52,983 53,346 59,330
Share capital and premium 35,859 35,859 35,859
Retained earnings 17,124 17,487 23,471
Current liabilities 1,187 1,388 535
Trade and other payables 102 110 346
Taxation 657 - 2
Provision for cost of
eviction of illegal settlers - 1,000 -
Provisions 119 114 23
Shareholders for dividend 309 164 164
TOTAL EQUITY AND LIABILITIES 54,170 54,734 59,865
Net asset value per share
(cents) 201.5 202.8 225.6
ABRIDGED STATEMENT OF CHANGES IN EQUITY
Audited
Six months ended Year ended
31 December 30 June
2003 2002 2003
R` 000 R` 000 R` 000
Equity at the beginning of the period 59,330 53,797 53,797
Retained Earnings (6,347) (451) 5,533
Equity at the end of the period 52,983 53,346 59,330
ABRIDGED CONSOLIDATED CASH FLOW STATEMENTS
Cash flows from operating activities (5,644) (412) (585)
Cash absorbed by operations (706) (900) (1,562)
Dividend paid (5,260) - -
Interest received 322 488
977
Cash flows from investing activities - - (352)
Loan to director - - (352)
Net (Decrease) Increase in cash and
cash equivalents (5,644) (412) (937)
Cash and cash equivalents at the
beginning of the year 7,663 8,600 8,600
Cash and cash equivalents at the
end of the period 2,019 8,188 7,663
Comments on the interim results
Turnover was derived from the letting of property, no sales were entered into
during the period. The fall in interest rates and the payment of the special
dividend resulted in a fall in investment income.
The clearance of mine dumps is proceeding and should be cleared by December
2004.Illegal settlers continue to occupy approximately 65 hectares.
Dividend
A special dividend of 20c per share, totalling R5,260,000 was paid to
shareholders recorded in the share register on 19 December 2003. No dividend has
been declared or recommended for this period.
Future Listing
The JSE Securities Exchange South Africa have advised that it is envisaging
closing the Development Capital Market from close of trading on Friday 30 July
2004 and have therefore requested the company to transfer its listing to the
Main Board or to the Alternative Exchange. The Board of Directors do not
consider that the company will meet the requirements of either the Main Board or
the Alternative Exchange
Preparation of the interim results
The interim results have been prepared in accordance with Statements of
Generally Accepted Accounting Practice on a basis consistent with that of the
year ended 30 June 2003 and the six months ended 31 December 2003.
For and on behalf of the Board of Directors:
DCL WASSUNG
27 January 2004
Registered Office
Transfer Secretaries Lincoln House
Computershare Limited Epsom Downs Office Park
70 Marshall Street, Johannesburg, 2001 13 Sloane Street, Bryanston, 2021
(PO Box 61051, Marshalltown, 2107) (PO Box 68657, Bryanston,
2021)
Sponsor
LPC Manhattan Sponsors (Pty) Limited
Date: 22/01/2004 05:00:05 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 ] | |||||||||||||
|
|||||||||||||
