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BRYANT TECHNOLOGY LIMITED - UNAUDITED REVIEWED RESULTS FOR THE YEAR ENDED 30
JUNE 2004
BRYANT TECHNOLOGY LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 98/11846/07)
CODE BRY ISIN ZAE000015475
UNAUDITED REVIEWED RESULTS FOR THE YEAR ENDED 30 JUNE 2004
CONDENSED INCOME STATEMENT
R`000 Year Year
ended ended
30 June 30 June
2003 2003
(Reviewed) (Audited)
Revenue 3,601 3,602
Operating (loss) -2,311 -543
Interest (paid) -17 -76
Net (loss) before tax -2,328 -619
Tax - -
Net (loss) after tax -2,328 -619
Dividends paid - -
(Loss) for the period -2,328 -619
Shares in issue (`000) 196000 196000
Earnings per share (cents) -1.19 -0.32
Headline earnings per -1.19 -0.32
share (cents)
Net asset value per share -0.88 0.31
(cents)
CONDENSED BALANCE SHEET
R`000 30 June 30 June
2004 2003
(Reviewed) (Audited)
Assets
Plant and equipment 86 109
Current assets 1,167 3,553
Inventories 40 2,058
Accounts receivable 287 236
Cash and cash equivalents 840 1,259
Total assets 1,253 3,662
Equity and liabilities
Shareholders` interest -1,715 613
Share capital 2 2
Share premium 11,803 11,803
Accumulated loss -13,520 -11,192
Long-term loans 2,000 2,000
Current liabilities 968 1,049
Accounts payable 968 1,049
Total equity and liabilites 1,253 3,662
CONDENSED CASH FLOW STATEMENT
Year ended Year ended
30 June 30 June
2004 2003
R`000 (Reviewed) (Audited)
Cash flows from operating
activities
Cash absorbed by operations -392 -54
Net interest (paid) -17 -76
Taxation paid - -
Net cash outflow from -409 -130
operating activities
Net cash outflow from -10 -28
investing activities
Net cash inflow from - 150
financing activities
Net decrease in cash and cash -419 -8
equivalents
Net cash and cash equivalents 1,259 1,267
at beginning of period
Cash and cash equivalents at 840 1,259
end of period
CONDENSED STATEMENT OF CHANGES IN EQUITY
R`000 Share Accumulated Total
capital and (loss)
Premium
Balance at beginning 11,805 -11,192 613
of period
Loss for year - -2,328 -2,328
Balance at end of 11,805 -13,520 -1,715
year
Comments
Basis of preparation
The reviewed financial results of the company have been prepared on the
historical cost basis in accordance with South African Statements of Generally
Accepted Accounting Practice and in the manner required by the Companies Act in
South Africa, which policies have been consistently applied from prior years.
Independent review
The financial results have been reviewd by KPMG Inc. whose review opinion is
available for inspection at the company`s registered address.
General review
The second half of the year under review experienced the upward swing in
business confidence that was anticipated earlier. The result was a significant
need to re-structure and diversify the improvement in trading conditions and
performance.
However, the results incorporate a R2 million inventory write down following a
prudent assessment initiated by the company`s operations. Despite these set
backs the company has continued to maintain healthy cash resources.
Prospects
It is essential for the future of the company that significant re-structuring
and diversification is required.
Dividend
No dividend has been declared.
WJT Marchant
Director
2 November 2004
Registered address:
59 Lechwe Street
Corporate Park
Old Pretoria Road
Midrand
Date: 02/11/2004 04:31:37 PM
Produced by the JSE SENS Department
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