|
INCENTIVE HOLDINGS LIMITED - UNAUDITED CONSOLIDATED INTERIM RESULTS FOR THE SIX
MONTHS ENDED 31 AUGUST 2004
INCENTIVE HOLDINGS LIMITED
(Registration number 1998/013800/06)
Share code: ICT ISIN: ZAE000019329
(`the group`/`the company`)
UNAUDITED CONSOLIDATED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 AUGUST 2004
CONSOLIDATED INCOME STATEMENT
Six Months Six Months Year Ended
31 Aug 2004 31 Aug 2003 29 Feb 2004
Unaudited Unaudited Audited
R`000 R`000 R`000
Revenue 505 2457 4,506
Expenses Operating (2,462) (4,204) (10,940)
Depreciation (116) (101) (312)
Operating loss before interest (2,073) (1,848) (6,746)
Share of associate (575) (575) (1,876)
Share of loss - - (726)
Amortisation of goodwill * (575) (575) (1,150)
Net interest (paid)/received (40) (47) 346
Loss before taxation (2,688) (2,470) (8,276)
Taxation - - -
Loss attributable to ordinary
shareholders (2,688) (2,470) (8,276)
Headline Loss
Loss attributable
to ordinary shareholders (2,688) (2,470) (8,276)
Amortisation of goodwill 575 575 1,150
Headline loss attributable
to ordinary shareholders (2,113) (1,895) (7,126)
Loss per share - cents (1.0) (0.9) (3.0)
Headline loss per share - cents (0.8) (0.7) (2.6)
Net asset value per share 0.2 3.3 1.2
Number of shares in issue
(million) 274.8 274.8 274.8
* Amortization in respect of goodwill on the investment in associate
ABRIDGED CASH FLOW STATEMENT
Six months Six Months Year ended
31 Aug 2004 31 Aug 2003 29 Feb 2004
Unaudited Unaudited Audited
R`000 R`000 R`000
Cash flow from
operating activities (915) 296 (4,682)
Cash flow from
investing activities - (642) 1,419
Cash flow from
financing activities 938 (375) 1,962
Net movement in cash
and cash equivalents 23 (721) (1,301)
Cash and cash equivalents
at beginning of year 448 1,749 1,749
Cash and cash equivalents
at end of year 471 1,028 448
CONSOLIDATED BALANCE SHEET
Year Ended
31 Aug 2004 31 Aug 2003 29 Feb 2004
Unaudited Unaudited Audited
R`000 R`000 R`000
ASSETS
Non-current assets 17,249 21,572 17,997
Property, plant and
equipment 1,904 2,237 2,077
JSE and SAFEX rights 1,073 1,304 1,073
Loans receivable - 1,882 -
Investment in associate 14,272 16,149 14,847
Current assets 3,060 6,865 3,334
Total assets 20,309 28,437 21,331
EQUITY AND LIABILITIES
Capital and reserves
Ordinary shareholders` fun 583 9,077 3,271
Non-current liabilities 17,431 14,155 16,493
Non-Interest bearing liabili 16,719 12,490 15,746
Interest bearing liabilities 712 1,665 747
Current liabilities 2,295 5,205 1,567
Total equity and liabilitie 20,309 28,437 21,331
STATEMENT OF CHANGES IN EQUITY
Non-
distribu- Accumu-
Share Share table lated
capital premium reserve loss Total
R`000 R`000 R`000 R`000 R`000
Balance at
29 February 2004 275 50,739 683 (48,426) 3,271
Net loss for the
six months - - - (2,688) (2,688)
Balance at
31 August 2004 275 50,739 683 (51,114) 583
CHAIRMAN`S STATEMENT 2004 - FIRST DRAFT
Since reporting on the February 2004 year end, during June 2004, further
rationalisation of the group has taken place to prepare the group for
anticipated acquisitions early in the New Year.
Legal action brought by Anglo Dutch Holdings (Pty) Ltd has hindered the life
company from negotiating its re-capitalisation.
It has now been reported that the Government has abandoned the re-capitalisation
of the taxi industry and the bid which your company prepared at substantial cost
has now been abandoned.
We record that the events of this reporting period may continue to affect the
ability of the group to continue as a going concern, but various events which
are anticipated for conclusion in the New Year should resolve this difficulty.
In the light of the Group`s results, no dividend is contemplated.
This report has been prepared in accordance with the Group`s published
accounting policies which comply with South African Statements of Generally
Accepted Accounting Practice which are consistent in all respects with those
applied in the previous financial year.
By order of the Board
30 November 2004
| 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 ] | |||||||||||||
|
|||||||||||||
