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Cenmag Holdings Limited - The Unaudited Group Results Of Cenmag And Its
Subsidiaries For The 6 Months Ended 31 August, 2004.
Cenmag Holdings Limited
(Co.Reg.1987/004821/06)
Share Code: CMG
ISIN: ZAE000001533
(`CMG`)
THE UNAUDITED GROUP RESULTS OF CENMAG AND ITS SUBSIDIARIES
FOR THE 6 MONTHS ENDED 31 AUGUST, 2004.
GOUP INCOME STATEMENT
6 MONTHS 6 MONTHS
31 ST OF 30 TH OF
AUGUST AUGUST
2004 2003
R000 R000
GROSS REVENUE 13414 16371
COST OF SALES 10449 12461
GROSS PROFIT 2965 3910
OPERATING COSTS 2518 3469
OPERATING INCOME 447 441
DEPRECIATION 185 182
OPERATING INCOME 262 259
NET FINANCE COSTS 161 194
PROFIT BEFORE TAX 101 65
TAXATION 30 19
PROFIT AFTER TAX 71 46
MINORITY INTEREST 2 3
PROFIT ATTRIBUTABLE TO
SHAREHOLDERS 69 43
6 MONTHS 6 MONTHS
ABRIDGED 31 ST OF 30 TH OF
BALANCE SHEET AUGUST AUGUST
2004 2003
R000 R000
ASSETS
NON-CURRENT ASSETS
FIXED ASSETS 2488 3061
LOANS RECEIVABLE 166 218
CURRENT ASSETS 11786 11422
14440 14701
EQUITY AND LIABILITIES
CAPITAL AND RESERVES 5738 6476
MINORITY INTEREST 364 365
INTEREST BEARING LIABILITIES
LONG AND SHORT TERM 4182 4430
INTEREST FREE LIABILITIES 4156 3430
14440 14701
HEADLINE EARNINGS PER
SHARE -CENTS 0.72 0.45
EARNINGS PER SHARE
-CENTS 0.72 0.45
STATEMENT OF SHARE SHARE ACCUMULATED TOTAL
CHANGES IN
EQUITY CAPITAL PREMIUM PROFIT
BALANCE 1.3.2003 96 2090 4247 6433
NET (LOSS) FOR THE YEAR
- - -668 -668
DIVIDENDS PAID 96 -96
BALANCE 28.2.2004 96 2090 3483 5669
NET PROFIT FOR
6 MONTHS 69 69
BALANCE 31.08.2004 96 2090 3552 5738
2004 2003
GROUP CASH FLOW STATEMENT R000 R000
Cash flows from operating
activities 80 53
Cash flows from investing
activities -108 -463
Cash effects of financing
activities -38 277
Net decrease in cash and
cash equivalents -66 -133
Cash overdraft at the
beginning of year -3004 -2871
Cash overdraft at the end of period -3070 -3004
COMMENT
Increase in our group operating profit after tax by 54.35%, is due to
savings achieved, through not replacing all staff that have left and
better management of our existing resources.
Our operating costs have decreased for the past six months by 27.41%,
which will generate further increases in our profits for the full year.
Our group results have been prepared in accordance with South African
Statements of Generally Accepted Practice and are consistent with those
applied in the previous period.
Under current conditions and based on the outstanding quotations, we
anticipate a good and profitable year. We also believe that in the
forthcoming year we will resume dividend payments.
Johannesburg
9th of November, 2004.
Registered Office: 12 Harold Flight Rd., Jet Park, Boksburg.
P.O.Box 870, Isando 1600.
Directors: V.Farkas, C.J.B. Le Roux, B.I.Mazibuko
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