|
Integrear - Audited results for the financial year ended 30 June 2005
Integrear Limited
("Integrear" or "the group")
Registration number 1989/001319/06
Share code: ITG & ISIN number: ZAE000027231
Audited results for the financial year ended 30 June 2005
CONSOLIDATED INCOME STATEMENT
Audited Audited
Year ended Year ended
30 June 30 June
2005 2004
R"000 R"000
Revenue 8 544 9 505
Cost of sales (3 237) (5 249)
Gross profit 5 307 4 256
Operating expenses (6 215) (3 864)
Goodwill amortised - (336)
(Loss)/profit from operations (908) 56
Finance costs (262) (18)
Income from investments 282 72
(Loss)/profit before taxation (888) 110
Income tax benefit/(expense) 178 (204)
Net (loss)/profit for the period (710) (94)
Weighted average number of ordinary shares
in issue 12 564 190 12 564 190
Basic (loss)/earnings per share (cents)* (5,65) (0,75)
Headline (loss)/earnings per share
(cents)** (5,65) 1,93
Reconciliation between basic and headline
(loss)/earnings
Basic (loss)/earnings (710) (94)
Goodwill amortisation - 336
Headline (loss)/earnings (710) 242
*Basic earnings per share is calculated based on net loss of R710 000 divided by
the number of shares in issue being 12 564 190 x 100.
**Headline earnings per share is calculated based on net loss of R710 000
adjusted by the amortisation of goodwill of R168 000 divided by the number of
shares in issue being 12 564 190 x 100.
CONSOLIDATED CASH FLOW STATEMENT
Audited Audited
Year ended Year ended
30 June 30 June
2005 2004
R"000 R"000
Operating activities
Cash receipts from customers 9 972 8 122
Cash paid to suppliers and employees 9 855 (8 359)
Cash from/(used) in operations 117 (237)
Interest paid (22) (17)
Interest received 124 72
Income tax received 116 48
Net cash from/(used in) operating
activities 335 (134)
Investing activities
Purchases of equipment (34) (121)
Increase in loans receivable - -
Net cash used in investing activities (34) (121)
Financing activities
Decrease in borrowings (47) 3
Net cash (used in)/from financing
activities (47) 3
Net increase/(decrease) in cash and cash
equivalents 254 (252)
Effect of foreign exchange rate changes - -
Cash and cash equivalents at beginning of
the period 1 711 1 963
Cash and cash equivalents at end of the
period 1 965 1 711
CONSOLIDATED BALANCE SHEET
Unaudited Audited
30 June 30 June
2005 2004
R"000 R"000
Assets
Non-current assets 1 087 940
Equipment 92 122
Goodwill - -
Deferred tax asset 995 818
Current assets 3 474 4 783
Tax asset - 113
Inventory - -
Loans receivable - 7
Trade and other receivables 1 509 2 952
Bank balances and cash 1 965 1 711
TOTAL ASSETS 4 561 5 723
Equity and liabilities
Capital and reserves 1 203 1 913
Share capital 126 126
Share premium 686 686
Non-distributable reserves 828 828
Capital redemption fund 48 48
Accumulated (loss)/profits (485) 225
Non-current liabilities
Long-term borrowings: Interest bearing 29 49
Current liabilities 3 329 3 761
Trade and other payables 3 284 3 693
Tax liability 4 -
Short-term borrowings: Interest bearing 41 68
TOTAL EQUITY AND LIABILITIES 4 561 5 723
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
Accumu-
Non- Capital lated
Share Share distributable redemption (loss)/
capital premium reserve fund profits Total
R"000 R"000 R"000 R"000 R"000 R"000
Balance at
30 June
2003 126 686 828 48 319 2 007
Net loss
for the
period - - - - (94) (94)
Balance at
30 June
2004 126 686 828 48 225 1 913
Net loss
for the
period - - - - (710) (710)
Balance at
30 June
2005 126 686 828 48 (485) 1 203
COMMENTS
The sales are lower than expected due to weaker than expected market conditions.
As a result it had an impact on profits after tax.
ACCOUNTING POLICIES
These audited annual statements for the financial year ended 30 June 2005 are
prepared in accordance with the South African Statements of Generally Accepted
Accounting Practice (SA GAAP) applicable to financial year-end reporting. The
accounting policies used are consistent with those used in the annual financial
statements for the year ended 30 June 2004.
AUDIT REPORT
The group"s auditors Fisher Hoffman PKF, registered accountants and auditors,
have signed an unqualified audit opinion on the financial statements for the
year. These have been approved by the board and abridged for the purposes of
this report. Both the auditor"s opinion and the financial statements are
available for inspection at the company"s registered office.
CORPORATE GOVERNANCE
The Group subscribes to and complies with the Code on Corporate Governance
Practices and Conduct as contained in the second King Report on Corporate
Governance.
SEGMENT REPORTING
No segment reporting was prepared since the group only operated in one
geographical and business segment.
JSE LIMITED REQUIREMENTS
This announcement has been prepared in accordance with the listing requirements
of the JSE Limited.
FINANCIAL
The slow reaction in the market resulted in a 10,1% decrease in sales compared
to the previous year R8 544 000 (2004: R9 505 000). This resulted in a headline
loss of R653 000 (2004: R94 000) and equated to a headline loss of 5,65 cents
per share (2004: headline profit of 1,93 cents per share).
Cost control remains a focus point of management.
Business practices have been widened to include the possibility of generating a
constant monthly income stream.
PROSPECTS
We are improving our relationships with our sales channel partners, which will
allow wider representation of our products and services in South Africa and
could result in international sales opportunities.
CONTINGENT LIABILITY
As previously reported, the company received a final report from the Pension
Fund Administrators and the Board resolved to pay an amount of R81 007,01 to the
Pension Fund as interest they lost due to payments made to the Broker. A claim
is instituted against this Broker through the auspices of the Financial Services
Board.
DIVIDEND
No dividend is declared for the period under review.
By order of the board
L du Plessis
Chairperson
28 September 2005
Transfer secretaries
Computershare Investor Services 2004 (Pty) Limited
70 Marshall Street
Johannesburg, 2001
Registered office
265 West Avenue
Centurion, 0157
Directors: L du Plessis* (Chairperson), TJ Hill (Managing), BP Jones*, GJ
Oosthuizen*, M Lindeque
*Non-executive
Date: 29/09/2005 01:52:23 PM 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 ] | |||||||||||||
|
|||||||||||||
