Alliance results for the 12 months ended 29 Feb 04
Alliance reported a 8.7% increase in revenue to R230m (R211.5m). Operating profit more than doubled to R18.5m (R9.26m). Earnings per share increased by 4.8 cents (83%) to 10.6 cents and headline earnings per share increased by 6 cents (103%) to 11.8 cents both compared to 5.8 cents for the previous year.
The group`s earnings continue to be supported by a strong cash flow from operating activities of R13 million. Inventories were reduced significantly as a result of careful planning and the virtually ungeared balance sheet reflects the strong cash flows in recent years. An impairment provision of R1.194 million has been made against the assets of Laminated Technologies.
Prospects
The group`s successful core businesses will continue to provide the base for future growth.
Further cautionary announcement
Shareholders are referred to the further cautionary announcement published on SENS on 16 April 2004. The negotiations referred to in the further cautionary announcement are continuing and may result in a change in control in the company, an offer to minority shareholders and/or an affected transaction in terms of the Securities Regulation Code on Take-overs and Mergers. As these negotiations may have an effect on the price at which the company`s securities trade on the JSE, shareholders of Alliance are advised to continue to exercise caution when dealing in their shares until a further announcement is made.
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