|
Annuity Property Fund Limited - Interim Unaudited Consolidated Financial Results
Of The Group For The 6 Months Ended 31 December 2003
ANNUITY PROPERTY FUND LIMITED
(formerly GOOD CAPE LIMITED)
(Incorporated in the Republic of South Africa)
(Reg No. 1987/006274/06)
Share code: AUY ISIN: ZAE000052551
("the company")
INTERIM UNAUDITED CONSOLIDATED FINANCIAL RESULTS OF THE
GROUP FOR THE 6 MONTHS ENDED 31 DECEMBER 2003
Summarised group income Unaudited Audited Unaudited
statement 6 months 12 months 6 months
ended ended ended
31 Dec 2003 30 June 2003 31 Dec 2002
R000"s
Revenue 555 3 608 3 172
Operating profit (loss) 276 (142) 1 845
before exceptional items
Exceptional items - (1 318) (4 876)
Operating profit (loss) 276 (1 460) (3 031)
Financial (costs) income (276) (565) (769)
Taxation (62) (124) (76)
Loss attributable to (62) (2 149) (3 876)
ordinary shareholders
Attributable loss per (0,2) (6,8) (12,2)
share (in cents)
Exceptional loss per - (4,2) (15,4)
share (in cents)
Headline (loss) earnings (0,2) (2,6) 3,2
per share (in cents)
Number of shares in 31 654 31 654 31 654
issue (000"s)
Summarised group cash Unaudited Audited Unaudited
flow statement 6 months 12 months 6 months
ended ended ended
31 Dec 2003 30 June 31 Dec 2002
R000"s 2003
(142)
Cash generated by 276 2 271
(utilised in) operations
Decrease (increase) in 340 5 645 (13 838)
working capital
Financial (costs) income (276) (565) (769)
Cash generated by 340 4 938 (12 336)
(utilised in) operating
activities
Taxation paid - (226) (226)
Net cash available from 340 4 712 (12 562)
(utilised in) operating
activities
Cash effects of (149) (20 148) 2 911
investment and financing
activities
Net increase (decrease) 191 (15 436) (15 473)
in cash
Net cash at the 37 15 473 15 473
beginning of period
Net cash at end of 228 37 -
period
Summarised group balance Unaudited Audited Unaudited
sheet 31 Dec 30 June 31 Dec
2003 2003 2002
R000"s
Capital employed
Shareholders" interests 625 687 800
Mortgage finance 3 210 3 359 3 773
3 835 4 046 4 573
Employment of capital
Investment property 4 650 4 650 4 650
Net current liabilities (815) (604) (77)
3 835 4 046 4 573
Net asset value per 2,0 2,2 2,5
share (cents)
Number of shares in 31 654 31 654 31 654
issue (000"s)
Summarised group statement Share Share Accumulated Total
of changes in equity capital premium loss
R000"s
Balance at 30 June 2002 316 26 095 (12 727) 13 684
Attributable loss (3 876)
(3 876)
6 months ended 31
December 2002
Capital reduction December (10 848) (10 848)
2002
Attributable profit
6 months ended 30 June 1 727 1 727
2003
Balance at 30 June 2003 316 15 247 (14 876) 687
Attributable loss
6 months ended 31 (62) (62)
December 2003
Balance at 31 December 316 15 247 (14 938) 625
2003
COMMENTS:
1. The financial statements have been prepared in accordance with South
African Statements of Generally Accepted Accounting Practice. The accounting
policies used are consistent with those in the previous financial period.
2. No dividends have been declared and none are recommended.
3. The only property asset held during the 6 months to 31 December 2003 was
the investment property situated at Albert Road, Woodstock, Cape Town. All the
other investment properties held by the group had been disposed of prior to 31
December 2002 and the capital of the company had been reduced as set out in a
circular to shareholders issued on 30 December 2002. Accordingly the comparative
figures for the year ended 30 June 2003 and for the 6 months ended 31 December
2002 are of little practical relevance to the interpretation of the results for
the 6 months ended 31 December 2003.
4. At a general meeting on 25 February 2004 the shareholders of the company
approved the necessary ordinary and special resolutions to:
restructure the capital in terms of sections 75 and 90 of the Companies Act and
increase the authorised share capital to R10 million
constitute the company as a variable loan stock company
change the name of the company to Annuity Property Fund Limited.
5. The company continues to evaluate proposals for possible property
acquisitions and further announcements in this regard will be made in due
course.
For and on behalf of the Board
R J Harman
N Lurie
Cape Town
15 March 2004
Directors : D G Borthwick, R J Harman, N Lurie, R J Hoption
Company Secretary : C K Loydall (Mrs)
Registered office
2a Delaney Rd, Plumstead, 7800
(P O Box 610, Plumstead, 7801)
Transfer secretaries
Computershare Limited
70 Marshall Street, Johannesburg, 2001
(P O Box 61051, Marshalltown, 2107)
Date: 15/03/2004 12:00:05 PM 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 ] | |||||||||||||
|
|||||||||||||
