|
Eureka Industrial Limited - Unaudited Results For The Six Months Ended 31 August
2005
EUREKA INDUSTRIAL LIMITED
(Registration number 1938/010958/06)
Share JSE code: EUR
ISIN #: ZAE000002523
Unaudited results for the six months ended 31 August 2005
6 months 6 months 12
ended ended months
ended
31 August 31 August 28
2005 2004 February
2005
Unaudited Unaudited Audited
R"000s R"000s R"000s
GROUP INCOME STATEMENT
Revenue 12,906 20,024 38,607
Operating profit 488 (880) (8,199)
Net surplus on 11,198 1,738 15,667
revaluation of short-
term investments to
market value
Net surplus on 11,352 3,512 16,140
revaluation of long-term
investments to market
value
Dividends received 475 1,168 1,447
Capital profit on sale 505 - -
of investment
Net funding costs (1,377) (1,880) (4,565)
Net profit before 22,641 3,658 20,490
taxation
Taxation - (63) 2,335
(provided)/reversed
- current - (63) (155)
- deferred tax - - 2,490
Profit attributable to 22,641 3,595 22,825
ordinary shareholders
GROUP BALANCE SHEET
Assets
Non - current assets 106,076 67,806 83,251
Tangible assets 2,419 2,520 2,524
Investments (listed 103,657 65,286 80,727
investments at market
value)
Current assets 42,551 51,035 52,923
Inventories 8,662 10,225 9,093
Cash and cash 108 317 112
equivalents
Trade and other 33,781 40,493 43,718
receivables
Total assets 148,627 118,841 136,174
Equity and liabilities
Shareholders" equity 97,977 56,106 75,336
Non-current liabilities 10,314 8,132 3,335
Interest bearing 9,237 4,565 2,258
borrowings
Deferred taxation 1,077 3,567 1,077
Current liabilities 40,336 54,603 57,503
Interest bearing 30,504 43,322 47,130
borrowings
Trade and other payables 9,832 11,281 10,373
Total equity and 148,627 118,841 136,174
liabilities
GROUP STATEMENT OF
CHANGES IN EQUITY
Share capital 250 250 250
Ordinary shares 150 150 150
Preference shares 100 100 100
Retained income 89,364 47,493 66,723
Balance at beginning of 66,723 43,898 43,898
the period
Movement for the period 22,641 3,595 22,825
Non distributable 8,363 8,363 8,363
reserve
Balance at beginning of 8,363 8,363 8,363
the period
Movement for the period - - -
Total shareholders 97,977 56,106 75,336
equity at end of the
period
GROUP CASH FLOW
STATEMENT
Cash flows generated 32,468 525 (5,506)
from/(utilised by)
operating activities
Cash flows (utilised (22,825) 310 3,755
by)/generated from
investing activities
Cash flows (utilised (9,647) (1,957) 424
by)/generated from
financing activities
Net decrease in cash & (4) (1,122) (1,327)
cash equivalents
Cash and cash 112 1,439 1,439
equivalents at beginning
of the period
Cash and cash 108 317 112
equivalents at end of
the period
RECONCILIATION OF
HEADLINE EARNINGS TO
EARNINGS
Earnings as per above 22,641 3,595 22,825
Net surplus on (11,352) (3,512)
revaluation of long-term (16,140)
investments to market
value
Loan written off - 880 -
Capital profit on sale (505) - -
of investment
Headline earnings 10,784 963 6,685
ORDINARY SHARES
Number of shares in 2,400 2,400 2,400
issue ("000s)
Earnings per share 943.4 149.8 951.0
(cents)
Headline earnings per 449.3 40.1 278.5
share (cents)
Net tangible asset value 4,078.0 2,333.6 3,135.0
per share (cents)
COMMENTS
Eureka is an investment trust and is substantially invested in listed shares.
These listed investments comprise the major part of the group"s value,
and future growth continues to be determined by their performance.
The income statement reflects that the market value of the group"s listed
investments, held on 31 August 2005, increased in total by R22.5 million
during the six month period, of which R11.2 million arose from the short term
portfolio and R11.3 million from the long term portfolio.
The operating profit of R488,000 for the six months to 31 August 2005, comprises
profits and losses realised from the share trading (short term)
portfolio and the trading results from the operating subsidiaries and joint
venture.
The results have been prepared on the going concern basis, using accounting
principles and policies that comply with International Financial
Reporting Standards (IFRS) as well as with South African Statements of Generally
Accepted Accounting Practice (GAAP) and are consistent
with the previous period.
For and on behalf of the board:
Ronald S Price
Chairman
Johannesburg
17 November 2005
Date: 17/11/2005 02:33:03 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 ] | |||||||||||||
|
|||||||||||||
