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Moulded Medical Supplies Limited - Unaudited Results For The Year Ended 29
February 2004
MOULDED MEDICAL SUPPLIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1995/003771/06)
(Share code: MUM ISIN code: ZAE0000013751
UNAUDITED RESULTS FOR THE YEAR ENDED 29 FEBRUARY 2004
UNAUDITED GROUP INCOME STATEMENT
Unaudited Audited
for the year ended 29 February 2004 12 Months 12 Months
R000`s Feb 04 Feb 03
Revenue 1,240 839
Cost of sales (216) (227)
Gross profit 1,024 612
Operating costs (1,811) (2,006)
Operating loss before capital items (787) (1,394)
Capital items - 3,000
Income / (loss) before
investment income (787) 1,606
Investment income 1 8
Net Income / (loss) before tax (786) 1,614
Tax - -
Net income / (loss) after tax (786) 1,614
Attributable to outside shareholders (1) 19
Net profit / (loss) for the year (787) 1,633
Dividends - -
Accumulated income / (loss)
for the year (787) 1,633
Accumulated income /(loss) beginning
of year (994) (2,627)
Accum. income / (loss) at the end
of year (1,781) (994)
Earnings per share (1.8) 1.7
Headline earnings / (loss) per share (1.8) 1.7
Dividends per share 0.0 0.0
RECONCILIATION BETWEEN EARNINGS
AND HEADLINE EARNINGS
Net Income / (loss) attributable to
shareholders (787) 1,633
Headline profit / (loss) (787) 1,633
Shares issued - 000`s 96,260 96,260
Headline profit / (loss)
per share (cents) (1.8) 1.7
STATEMENT OF CHANGES IN EQUITY
Ordinary shareholders` funds - begin 12,716 11,083
Movement in retained earnings (787) 1,633
Ordinary shareholders` funds - end 11,929 12,716
INTERIM GROUP BALANCE SHEET Unaudited Audited
at 29 February 2004 12 Months 12 Months
R000`s Feb `04 Feb `03
ASSETS
Non-current assets 11,399 11,420
Fixed assets 1 22
Intangibles 11,398 11,398
Deposits - -
Investments and loans - -
Current assets 4,025 4,084
Inventory 1,105 1,159
Trade and other receivables 2,910 2,882
Bank balances and cash 10 43
TOTAL ASSETS 15,424 15,504
EQUITY AND LIABILITIES
Capital and reserves 11,929 12,716
Share capital 13,710 13,710
Reserves (1,781) (994)
Minority interest (605) (606)
Non-current liabilities 1,363 971
Long term liabilities 1,363 971
Current liabilities 2,737 2,423
Trade and other payables 2,429 2,076
Provision for income tax 308 347
TOTAL EQUITY AND LIABILITIES 15,424 15,504
Number of shares in issue - 000`s 96,260 96,260
UNAUDITED CASH FLOW STATEMENT
Net cash inflow / (outflow) from
operations (425) 165
Net (outflow) / inflow - investing
activities / (outflow) - financing 392 (300)
activities
Net cash (outflow) / inflow from activities (33) 23
CASH AND CASH EQUIVALENTS AT 43 20
BEGINNING
CASH AND CASH EQUIVALENTS AT 10 43
END
COMMENTS
The Company and its subsidiaries have achieved the following milestones.
Mouldmed Locum International Exchange Ltd. is now fully operational and should
generate in the financial year 28/02/2005 a cash gross turnover of more than 6
Million Rand via its four divisions. Rest and Recuperation Retreats Ltd. (Medi-
Tourism and General Tourism) is in the process of preparing to duplicate it`s
South African operation internationally with its viable licensing program backed
by an intensive ongoing training programme. The demand for Medical and Health
Products is steadily increasing. Research and development for a permanent
Medical Exhibition Centrum for international exhibitors to serve the Africa
continent (52 countries) is progressing in a positive manner (Gateway to
AFRICA). Four websites are up and running and will be improved and updated on a
regular basis (www.mouldmed.co.za; www.mouldmedlocum.co.za;
www.4traveltoafrica.com; www.restrretreats.com ).
REVIEW OF RESULTS
The immediate results, due to the lack of working capital, are still dis-
appointing but Management believes in a positive change in the financial year
28/02/2005.
REVIEW
The company`s auditors, PZ van der Merwe and Co have reviewed the con-
solidation. The auditor`s report is available for inspection at the company`s
registered office. The financial statements have been prepared in accordance
with South African Statements of Generally Accepted Accounting Practice and are
based on appropriate accounting policies, which have been constantly applied and
which are supported by reasonable and prudent judgement and estimates.
POST BALANCE SHEET EVENTS
Mouldmed Group`s Products Subsidiaries has signed Exclusive Distribution
Agreements on the Africa continent for the next 5 years to a minimum total of 60
Million Rand with minimum monthly orders after the initial minimum orders.
Mouldmed Group is progressing with positive negotiations with the Alt X
Management and is simultaneously seriously considering a BEE Partner.
Mouldmed`s investment in Health for Life UK PLC of 8 Million shares recently
received news that investors are now paying 12 pence per share and the future
looks more positive and promising.
ON BEHALF OF THE BOARD
DR S BRITS (Chairman)
MR GERRIT A THERON (Managing Director)
27 May 2004
Date: 27/05/2004 03:31:05 PM Produced by the JSE SENS Department
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