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Gold Edge Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1997/021085/06)
("the company")
INTERIM RESULTS FOR THE SIX MONTH PERIOD ENDED 31 DECEMBER 2000
CASH FLOW STATEMENT
31 Dec 2000 30 Jun 2000
GROUP GROUP
R R
CASH FLOW FROM
OPERATING ACTIVITIES (10 158 314) 125 254
Net cash flow from operating activities (8 435 785) 6 210 387
Investment income 184 158 79 383
Interest paid (1 906 687) (6 164 516)
Taxation paid - -
CASH FLOW FROM/(TO) INVESTING
ACTIVITIES 10 987 499 2 018
Additions to fixed assets (12 501) (2 700)
Proceeds from disposal of investment
property 11 000 000 -
Proceeds from disposal of fixed assets - 4 718
CASH INFLOW/(OUTFLOW) FROM
FINANCING ACTIVITIES (605 803) 168 382
Proceeds from share issue 26 -
Raising of long-term liabilities - 208 411
Repayment of long-term liabilities (605 829) (40 029)
NET INCREASE IN CASH AND
CASH EQUIVALENTS 223 382 295 654
CASH AND CASH EQUIVALENTS AT
BEGINNING OF PERIOD (465 118) (760 772)
CASH AND CASH EQUIVALENTS AT
END OF PERIOD (241 736) (465 118)
STATEMENT OF CHANGES IN EQUITY
GROUP
R
SHARE CAPITAL AT 31 DECEMBER 2000 2 901
Balance at 1 July 1999 2 875
Movement -
Balance at 1 July 2000 2 875
Movement 26
SHARE PREMIUM AT 31 DECEMBER 2000 2 611 663
Balance at 1 July 1999 3 059 123
Share issue expenses (447 460)
Balance at 1 July 2000 2 611 663
Share issue expenses -
DISTRIBUTABLE RESERVES AT
31 DECEMBER 2000 2 936 980
Balance at 1 July 1999 (323 226)
Attributable profit 93 490
Balance at 1 July 2000 (229 736)
Attributable profit 3 166 716
BALANCE SHEET
31 Dec 2000 30 Jun 2000
GROUP GROUP
R R
ASSETS
NON-CURRENT ASSETS 3 623 985 64 615 849
Investment properties - 60 900 000
Positive goodwill 3 600 513 3 692 834
Fixed assets 23 472 23 015
CURRENT ASSETS 12 244 800 278 251
Accounts receivable 12 050 923 222 400
Cash and cash equivalents 193 877 55 851
TOTAL ASSETS 15 868 785 64 894 100
EQUITY AND LIABILITIES
CAPITAL AND RESERVES 5 551 624 9 279 882
Share capital 2 901 2 875
Share premium 2 611 663 2 611 663
Distributable reserve 2 936 980 (229 736)
Non-distributable reserve - 5 716 000
Outside shareholders' interest 80 1 179 080
NON-CURRENT LIABILITIES 588 325 52 537 742
Long-term liabilities 588 325 52 537 742
CURRENT LIABILITIES 9 728 836 3 076 476
Taxation 255 829 -
Accounts payable 8 101 235 2 299 095
Provisions 936 158 -
Short-term portion of
long-term liability - 256 412
Bank overdraft 435 613 520 969
TOTAL EQUITY and LIABILITIES 15 868 785 64 894 100
INCOME STATEMENT
31 Dec 2000 30 Jun 2000
GROUP GROUP
R R
GROSS REVENUE 14 702 983 9 427 172
Operating costs 9 557 908 3 248 549
OPERATING PROFIT/(LOSS) 5 145 075 6 178 623
Investment income 184 158 79 383
Finance costs 1 906 687 6 164 516
Taxation 255 829 -
PROFIT/(LOSS) 3 166 716 93 490
Earnings per share (cents) 10,91 0,33
Headline loss per share (cents) (3,23) -
Earnings per share is based on earnings of R3 166 716 (June 2000: R93 490) and
a weighted average number of ordinary shares of 29 013 250 (June 2000: 28 750
000) in issue during the period. Headline earnings per share is based on losses
of R937 962 and a weighted average number of ordinary shares of 29 013 250 in
issue during the period.
REPORT OF THE CHIEF EXECUTIVE OFFICER TO THE SHAREHOLDERS
The results at 31 December 2000 include the sale for the four Bruma buildings,
which was authorised at the shareholders' Meeting on 12 December 2000.
The directors are actively considering and planning the strategic growth and
position of the company into the future. A number of initiatives in this regard
are under review at this time.
Johannesburg
30 March 2001
Directors: Registered office:
Selwyn Smith (Managing) 1st Floor, Twin Towers East,
Chris Christodoulou Sandton City, Sandton,
Colin Blach Tel: (011) 884 4422
Mark Mithchley Fax: (011) 884 4458
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