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ALUDIE LIMITED - INTERIM FINANCIAL RESULTS FOR THE PERIOD ENDED 31 DECEMBER 2003
AND FURTHER CAUTIONARY ANNOUNCEMENT
Aludie Limited
(Incorporated in the Republic of South Africa)
(Registration number 1982/009023/06)
JSE Share code: ALD
ISIN: ZAE000008876
("the Group" or "the Company")
INTERIM FINANCIAL RESULTS FOR THE PERIOD ENDED 31 DECEMBER 2003 AND FURTHER
CAUTIONARY ANNOUNCEMENT
GROUP CONSOLIDATED INCOME STATEMENTS
Reviewed Audited Unaudited
Six months 15 months Six months
ended ended ended
31 Dec 2003 30 June 2003 31 Mar 2003
R"000 R"000 R"000
Revenue 6 810 26 477 10 289
Costs incurred in producing
revenue (4 153) (18 470) (5 531)
Depreciation and impairment (169) (425) (497)
Selling and administrative
expenses (5 468) (11 419) (5 338)
Sundry income - 1 248 1 226
Operating/(loss)/income
before borrowing costs (2 980) (2 589) 149
Borrowing costs (89) (1 029) (663)
Attributable loss (3 069) (3 618) (514)
Amortisation of intangibles (255) (629) (255)
Other net non-operating
expenses - (743) 23
Net loss before taxation (3 324) (4 990) (746)
Taxation 968 1 464 201
Net loss for period (2 356) (3 526) (545)
Total number of shares in
issue and allotted for period
("000) 33 266 33 266 33 266
Loss per share (cents) (7,1) (10,60) (1,64)
Capital loss - 1,15 0,77
Headline loss per share
(cents) (7,1) (9,45) (0,87)
GROUP CONSOLIDATED ABRIDGED CASH FLOW STATEMENTS
Reviewed Audited Unaudited
Six months 15 months Six months
ended ended ended
31 Dec 2003 30 June 2003 31 Mar 2003
R"000 R"000 R"000
Cash flows from operating
activities (1 383) (703) (1 917)
Cash flows from financing
activities 1 445 (2 217) (2 538)
Cash flows from investing
activities 22 (34) 341
Net movement in cash resources 84 (2 954) (4 114)
Cash resources at beginning of
period (1 545) 1 409 3 547
Cash resources at end of period (1 461) (1 545) (567)
GROUP SEGMENTAL REVIEW
FOR THE PERIOD ENDED 31 DEC 2003
Electronic Parking Group
security management and
services services other
R"000 R"000 R"000
Revenue 5 829 981 -
(Loss)/Earnings (2 394) 71 (33)
Assets 6 708 4 195 4 384
Liabilities 17 104 9 063 (7 091)
Net (liability)/asset value (10 396) (4 868) 11 475
Depreciation 168 1 -
Amortisation 150 55 50
GROUP CONSOLIDATED BALANCE SHEETS
Reviewed
Six months
ended Audited Unaudited
31 Dec 2003 30 June 2003 31 Mar 2003
R"000 R"000 R"000
ASSETS
Non-current assets
Tangible and intangible assets 2 932 3 378 3 339
Deferred taxation 3 984 3 015 1 460
Investments, rental debtors
and loans - 163 552
Total non-current assets 6 916 6 556 5 351
Current assets
Inventories 775 785 1 072
Work in progress 255 1 221 1 343
Accounts receivable 7 303 4 923 6 007
Bank balances and cash 38 20 166
Total current assets 8 371 6 949 8 588
Total assets 15 287 13 505 13 939
EQUITY AND LIABILITIES
Capital and reserves
Stated capital account 1 412 1 412 1 412
Non-distributable reserves 55 55 55
Accumulated (loss)/profit (5 256) (2 900) 554
Total capital and reserves (3 789) (1 433) 2 021
Non-current liabilities
Interest bearing debt 357 357 431
Total non-current liabilities 357 357 431
Current liabilities
Short-term borrowings 922 64 -
Accounts payable 15 302 11 980 9 342
Taxation 801 801 616
Bank overdrafts 1 499 1 565 733
Total current liabilities 18 524 14 410 10 691
Provisions 195 171 796
Total equity and liabilities 15 287 13 505 13 939
Net asset value per share
(cents) - - 6,08
GROUP CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY
Accumulated
Stated (loss)/profit
capital and NDR Total
R"000 R"000 R"000
Balance at 31 March 2002 1 412 681 2 093
Net loss for period - (3 526) (3 526)
Balance at 30 June 2003 1 412 (2 845) (1 433)
Net loss for period - (2 356) (2 356)
Balance at 31 Dec 2003 1 412 (5 201) (3 789)
Generally Accepted Accounting Practice
The interim financial statements from which this report has been drawn up comply
with South African Statements of Generally Accepted Accounting Practice and the
accounting policies used are consistent in all material respects with those used
for the 30 June 2003 financial statements.
GENERAL REVIEW
Nature Of Business:
The Group offers value-added electronic security, access control and parking
management services and solutions.
Results And Prospects:
The Group has taken steps, as detailed in the Command Holdings Limited interim
report, to improve its position.
Auditor "S Review Report:
The financial information reflected above has been reviewed but not audited by
the group"s auditors Deloitte & Touche. The review report is qualified on a
going concern basis and is avalibale at the company"s registered office.
Further Cautionary Announcement:
Further to the cautionary announcement dated 17 March 2004, shareholders are
advised that the Group"s controlling shareholder, Command Holdings Limited has
disposed of a portion of its shareholding in the Group. Details of the
transaction will be released shortly and shareholders are advised to continue to
exercise caution in dealing in the Company"s shares.
Directors:
Z J Sithole (Non-executive Chairman), M S Mowzer (Chief Executive Officer),
M I Parker (Non-executive) and K G Druker (Non-executive) continued to serve as
directors during the period under review.
By order of the Board
Z J Sithole M S Mowzer
Chairman Chief Executive Officer
A J Rich
Company Secretary
Johannesburg
3 May 2004
Transfer Secretaries:
Ultra Registrars (Pty) Limited
11 Diagonal Street
Johannesburg, 2001
Registered Office:
Ristone Office Park
15 Sherborne Road
Parktown, 2193
Sponsor:
Deloitte & Touche Sponsor Services (Pty) Ltd
Date: 04/05/2004 07:31:34 AM Produced by the JSE SENS Department
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