|
Tisec - Interim Results For The Six Months Ended 30 September 2002
Release Date: 12/12/2002 17:15:11 Code(s): TSC
Tisec - Interim Results For The Six Months Ended 30 September 2002
TISEC LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1997/010036/06)
Share code TSC ISIN ZAE000018131
("Tisec" or "the group")
INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2002
SUMMARISED GROUP INCOME STATEMENT
Six months Six months Twelve months
ended ended ended
30 Sept 30 Sept 31 March
2002 2001 2002
(Unaudited) (Unaudited) (Audited)
R000`s R000`s R000`s
Turnover 784 1 025 2 700
Loss before interest, taxes,
depreciation and amortisation (EBITDA) (1 133) (2 984) (2 032)
Net interest received 430 398 272
Depreciation (199) (351) (431)
Operating loss (902) (2 937) (2 191)
Exceptional items - (384) (7 706)
Loss before taxation (902) (3 321) (9 897)
Taxation - (4) -
Loss attributable to shareholders (902) (3 325) (9 897)
Headline loss per share (cents) (0,7) (2,2) (1,6)
Loss per share (cents) (0,7) (2,5) (7,4)
Shares in issue (000`s) 133 315 133 315 133 315
Shares in issue -
weighted average (000`s) 133 315 133 315 133 315
SUMMARISED GROUP BALANCE SHEET
30 Sept 30 Sept 31 March
2002 2001 2002
(Unaudited) (Unaudited) (Audited)
R000`s R000`s R000`s
Non-current assets
Property, plant and equipment 523 1 243 722
Investments 3 365 5 700 3 365
Current assets 2 901 9 882 3 087
Cash resources 2 182 2 828 1 667
Other current assets 719 7 054 1 420
Total assets 6 789 16 825 7 174
Capital and reserves
Shareholders` funds 3 914 8 229 4 816
Non-current liabilities
Long-term liabilities 2 118 7 595 1 365
Current liabilities 757 1 001 993
Total equity and liabilities 6 789 16 825 7 174
Tangible net asset value per share (cents) 2,9 6,2 3,6
SUMMARISED GROUP CASH FLOW STATEMENT
Six months Six months Twelve months
ended ended ended
30 Sept 30 Sept 31 March
2002 2001 2002
(Unaudited) (Unaudited) (Audited)
R000`s R000`s R000`s
Cash retained from/(utilised in)
operating activities (238) (718) 4 639
Cash retained from/(utilised in)
investing activities - 389 100
Cash retained from/(utilised in)
financing activities 753 (799) (7 028)
Net movements in cash balances 515 (1 128) (2 289)
Cash at beginning of period 1 667 3 956 3 956
Cash at end of period 2 182 2 828 1 667
STATEMENT OF CHANGES IN SHAREHOLDERS EQUITY
Share Share Distributable
Capital Premium reserve Total
R000`s R000`s R000`s R000`s
Balance 1 April 2002 13 314 13 430 (21 928) 4 816
Loss attributable to shareholders - - (902) (902)
Balance 30 September 2002 13 314 13 430 (22 830) 3 914
ACCOUNTING POLICY
The interim report has been prepared in accordance with South African Statements
of Generally Accepted Accounting Practice, using accounting policies consistent
with those applied in the financial statements for the period ended 31 March
2002.
AUDIT REVIEW
The interim results presented above have been reviewed, but not audited, by
Moores Rowland, the Group`s auditors. Their limited review report is available
for inspection at the Group`s registered office during normal office hours.
GROUP RESULTS
The interim results for Tisec reflect an operating loss of R1 133 000 and loss
attributable to shareholders of R902 000. Loss per share is 0,7 cents and
headline loss per share is 0,7 cents.
PROSPECTS
The difficult market conditions noted in Tisec`s previous announcement have not
improved in the current financial year. Consequently, Tisec`s short-term
prospects remain limited and uncertain.
CHANGES TO THE BOARD OF DIRECTORS
N D Kennelly resigned with effect 1 November 2002.
DIVIDEND
No dividend has been declared.
On behalf of the board
Johannesburg
13 December 2002
Directors:
K L Kingma*, H S Courtney, K A Colley (*non-executive)
Transfer secretaries:
Ultra Registrars (Pty) Limited,
11 Diagonal Street, Johannesburg, 2001.
(PO Box 4844, Johannesburg, 2000)
Registered office:
2nd Floor, Moores Rowland House,
5 St Davids Place, Parktown, 2193
(PO Box 6697, Johannesburg, 2000)
Date: 12/12/2002 05:15:02 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 ] | |||||||||||||
|
|||||||||||||
