|
Pacific Holdings Limited And Its Subsidiary - Unaudited Interim Report
Release Date: 30/04/2004 07:46:31 Code(s): PAC
Pacific Holdings Limited And Its Subsidiary - Unaudited interim report
for the six months ended 31 December 2003
PACIFIC HOLDINGS LIMITED AND ITS SUBSIDIARY
Incorporated in the Republic of South Africa
("the Company")
(Registration number 1987/001960/06)
Isin Code: ZAE000027462
Share Code: PAC
Unaudited interim report for the six months ended 31 December 2003
CONDENSED CONSOLIDATED INCOME STATEMENT
Unaudited Unaudited Audited
Six months Six months year ended
ended ended
31 Dec 2003 31 Dec 2002 30 June 2003
R 000 R 000 R 000
Revenue 2 469 2 577 5 297
Cost of sales (595) (640) (1 158)
Gross profit 1 874 1 937 4 139
Other operating income 513 483 526
Employee compensation costs (1 393) (1 279) (2 671)
Other operating expenses (1 211) (1 458) (2 935)
Operating loss (217) (317) (941)
Finance costs (311) (375) (744)
Net loss (528) (692) (1 685)
Earnings per Share
Loss per share:
Basic and diluted (cents) (3,28) (4,30) (10,47)
Headline loss (cents) (3,28) (4,30) (10,47)
HEADLINE LOSS
Loss attributable to
shareholders (528) (692) (1 685)
Headline loss (528) (692) (1 685)
CONDENSED CONSOLIDATED BALANCE SHEET
Unaudited Unaudited Audited
ended ended year ended
six months six months
31 Dec 2003 31 Dec 2002 30 June 2003
R 000 R 000
ASSETS
Non-current assets
Property, plant and equipment 8 481 8 852 8 614
8 481 8 852 8 614
Current assets
Inventories 62 74 47
Receivables and prepayments 237 302 305
Taxation prepaid 134 134 134
Cash and cash equivalents 20 15 20
453 525 506
Total Assets 8 934 377 9 120
EQUITY AND LIABILITIES
Capital and reserves
Ordinary shares 161 161 161
Share premium 9 762 9 762 9 762
Revaluation reserve 2 800 2 800 2 800
Accumulated loss (24 227) (22 706) (23 699)
(11 504) (9 983) (10 976)
Current liabilities
Shareholders" loans 15 066 13 984 14 421
Trade and other payables 930 768 787
Receiver of Revenue - VAT 229 90 224
Current portion of
borrowings - 59 -
Bank overdraft 4 213 4 459 4 664
Total liabilities 20 438 19 360 20 096
Total equity and liabilities 8 934 9 377 9 120
NUMBER OF ORDINARY SHARES
Issued @ 1 cent each 16 095 320 16 095 320 16 095 320
CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
Share Revaluation Accumulated
Capital Reserve Deficit Total
R 000 R 000 R 000 R 000
Balance at 1 July 2002 9 923 - (22 014) (12 091)
Net loss - - (692) ( 692)
Revaluation of land and
buildings - 2 800 - 2 800
Balance at 31 December 2002 9 923 2 800 (22 706) (9 983)
Balance at 1 July 2003 9 923 2 800 (23 699) (10 976)
Net loss - - (528) (528)
Balance at 31 December 2003 9 923 2 800 (24 227) (11 504)
Balance at 1 July 2002 9 923 - (22 014) (12 091)
Net loss - - (1 685) (1 685)
Revaluation of land
and buildings - 2 800 - 2 800
Balance at 30 June 2003 9 923 2 800 (23 699) (10 976)
CONDENSED CONSOLIDATED CASH FLOW STATEMENT
Unaudited Unaudited Audited
Six months Six months Year
31 Dec 2003 31 Dec 2002 30 June 2003
R 000 R 000 R 000
Net cash utilised by
operating activities (165) (642) (1 230)
Net cash utilised in
investing activities (29) (31) (42)
Net cash generated from
financing activities 645 693 1 092
Increase in cash and cash
equivalents 451 20 (180)
Movement in Cash and
cash equivalents
At start of interim period (4 644) (4 464) (4 464)
Increase 451 20 (180)
At end of interim period (4 193) (4 444) (4 644)
FINANCIAL RESULTS
The group incurred an operating loss of R217 000 for the six months
ended 31 December 2003.
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, PricewaterhouseCoopers Inc. carried out a
limited review on the preliminary report balance sheet and income
statement information for the six months ended 31 December 2003. Their
qualified report on the ability of the group to continue as a going
concern is available for inspection at the company"s registered office.
ACCOUNTING POLICIES
The financial statements of the Group comply with South African
Statements of Generally Accepted Accounting Practice and are consistent
with those applied in the previous financial year.
DIVIDENDS
No ordinary shareholder dividend has been proposed or paid.
APPROVAL BY DIRECTORS
The Directors of Pacific Holdings Ltd. have approved the interim results
for the six month period ended 31 December 2003.
By order of the board
Dato" Choo Eng Guan, Director.
DIRECTORS
Dato Choo Eng Guan #
Yap Wee Chun #
P J A Mphafudi
Ju Suong (appointed 20 June 2003)
# Malaysian
REGISTERED OFFICES
The Cape Rendezvous Hotel
Brackenfell Boulevard
Brackenfell 7561
Western Cape.
POSTAL ADDRESS
PO Box 4017
Rivonia
2128
TRANSFER SECRETARIES
Computershare Limited
70 Marshall Street
Johannesburg
2001
| 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 ] | |||||||||||||
|
|||||||||||||
