|
Jigsaw - Reviewed Unaudited Interim Results For The Six-Month Period Ended 31
August 2004
JIGSAW HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1987/000111/06)
Share code: JGS ISIN: ZAE000018370
(`Jigsaw` or `the company`)
REVIEWED UNAUDITED INTERIM RESULTS FOR THE SIX-MONTH PERIOD ENDED
31 AUGUST 2004
INCOME STATEMENTS
Unaudited Unaudited
Six months Six months Audited
ended ended Year ended
31/08/2004 31/08/2003 29/02/2004
R`000 R`000 R`000
Revenue 48 363 35 922 77 909
Profit/(loss) from operations 4 287 5 155 11 478
Net finance costs (2 713) (4 105) (7 401)
(Loss)/Profit before taxation 1 574 1 050 4 077
Taxation (326) (54) (2 606)
(Loss)/Profit after taxation 1 248 996 1 471
Attributable to outside
shareholders in subsidiaries - - -
Preference share dividends (335) (435) (766)
(Loss)/Profit for the period
attributable to ordinary
shareholders 913 561 705
Less (Profit)/ loss on sale
of fixed assets - - 33
Less (Profit)/ loss on sale
of subsidiaries - - 40
Impairment of fixed assets
- tangible - - 9
Impairment of fixed assets
- intangible - - -
Plus Intangible amortization 722 529 1 467
Impairment on loan to
Share incentive scheme trust - - -
Headline earnings for
ordinary shares 1 635 1 090 2 254
Basic earnings for the year 913 561 705
Headline earnings for the year 1 635 1 090 2 254
Weighted average number
of shares 37 176 37 176 37 176
Dilutive weighted average
number of shares 37 176 37 176 37 176
cents cents cents
Basic earnings per share 2.46 1.51 1.90
Diluted basic earnings
per share 2.46 1.51 1.90
Headling earnings per share 4.40 2.93 6.06
Diluted headline earnings
per share 4.40 2.93 6.06
CASH FLOW STATEMENT
Unaudited Unaudited
Six months Six months Audited
ended ended Year ended
31/08/2004 31/08/2003 29/02/2004
R`000 R`000 R`000
Cash (utilised by)/generated
from operating activities
Cash receipts from
customers 55 317 35 182 64 282
Cash paid to suppliers
and employees (29 371) (28 519) (59 450)
Net cash (outflow)/inflow
from operating activities 25 946 6 663 4 832
Net interest paid (2 713) (4 105) (7 401)
Taxation (paid) (424) 153 232
Dividends paid - - -
Net cash (outflow)/inflow
from investing activities 164 (457) (7 519)
Net cash (outflow)/inflow
from financing activities (8 951) 8 615 18 716
Movement of cash and
cash equivalents 14 022 10 869 8 860
Cash and cash equivalents
at beginning of period (38 381) (47 242) (47 241)
Cash and cash equivalents
at end of period (24 359) (36 373) (38 381)
BALANCE SHEETS
Unaudited Unaudited Audited
at at at
31/08/2004 31/08/2003 29/02/2004
R`000 R`000 R`000
ASSETS
Non-current assets 18 782 23 419 20 238
Current assets 61 339 55 419 66 974
Total assets 80 121 78 838 87 212
EQUITY AND LIABILITIES
Capital and reserves (7 727) (8 781) (8 635)
Minority interests - - -
Non-current liabilities 15 207 13 191 21 954
Current liabilities 72 641 74 428 73 893
Total equity and liabilities 80 121 78 838 87 212
STATEMENTS OF CHANGES IN EQUITY
Share Share Distributable
capital premium reserves Total
GROUP R`000 R`000 R`000 R`000
Balance at
31 August 2003 372 10 873 (20 026) (8 781)
Balance previously
stated 407 15 694 (23 902) (7 801)
Prior year adjustments (35) (4 821) 3 876 (980)
- - 146 146
Net loss for the
six months - - 477 477
Dividends - - (331) (331)
Balance at
29 February 2004 372 10 873 (19 880) (8 635)
- - 908 908
Net profit for the
six months ended
31 August 2003 - - 1 243 1 243
Dividends - - (335) (335)
Balance at
31 August 2004 372 10 873 (18 972) (7 727)
Basis of preparation
The interim results have been reviewed by the companies auditors, BDO Sponsors
Steward (Johannesburg) Inc., to ensure that they comply with the requirements of
the South African Statements of Generally Accepted Accounting Practice.
Accounting policies and the methods of computation are consistent with those
used for the Annual Report for the year ended 29 February 2004 and the interim
figures as previously published. The reviewed opinion of BDO Spencer Steward
(Johannesburg) Inc is available for inspection at the registered office of the
Company.
COMMENTS
The management team`s dedicated approach, in conjunction with a buoyant property
market, has contributed towards sound results and an improved cash flow.
The real estate networks, Aida, ERA and Realty 1 Elk continue performing well
due to a healthy growth through the establishment of several new franchises as
well as value generated from the MortgageSA relationship.
Once again our related services operations posted solid results with Ascendant
Cashflow Solutions achieving exceptional results.
Home Inspector and Home Warranty are showing improved results due to a revised
focus.
The property development operation, Machaus, achieved a significant turnaround,
through increased sales and higher volumes.
The management team is confident that the implementation of several strategic
initiatives will continue to produce sustainable earnings in the future.
For and on behalf of the board
Neville McIntyre
Chief Executive Officer
25 November 2004
DIRECTORS
Executive: Neville McIntyre
Piet Joubert
Non-executive: Johan Nel,
Pieter van der Merwe,
REGISTERED ADDRESS
First Floor, 1 St Andrew Street,
Birdhaven, 2196.
AUDITORS
BDO Spencer Steward
(Johannesburg) Inc.
SPONSOR
Exchange Sponsors
Date: 26/11/2004 08:02:42 AM
Produced by the JSE SENS Department
| Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information. | |||||||||||||
| Other Profile Group sites: FundsData Online (unit trust data) | Profile Group corporate site | |||||||||||||
| [ Terms of Use | Privacy Policy | PAIA manual | FAQs/Help | Site Map | © Copyright Reserved 2026 ] | |||||||||||||
|
|||||||||||||
