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AWT
AWT
Awethu - Unaudited results for the six month period ended 31 December 2005
AWETHU BREWERIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration Number: 1992/004352/06)
Share Code: AWT
ISIN Number: ZAE000013769
UNAUDITED RESULTS FOR THE SIX MONTH PERIOD ENDED 31 DECEMBER 2005
COMMENTS
Sector: Breweries
Nature of business: The company rents out premises used for the manufacture and
distribution of goods and services to the informal markets and the mining and
catering markets.
ACCOUNTING POLICIES
The interim consolidated financial statements are prepared on the historic cost
basis and is in accordance with International Financial Reporting Standards
(IFRS) and its interpretations adopted by the International Accounting Standards
Board. The accounting policies have been applied consistently with those of last
year
SYNOPSIS OF OPERATIONS FOR THE PERIOD
The Ventersdorp mill was rented out for the entire six month period, which is
reflected in the turnover figures for the period. The effects of last years
lessee"s was still felt in the first few months of this financial period, as
repair work had to be done on the Carltonville Brewery, and hence no rental
income was received from the brewery.
FINANCIAL RESULTS
Turnover dropped substantially, as Carltonville did not contribute to sales
during the period, however, no bad debts are expected. The company made a loss
of R591 586 during the period, of which depreciation makes up R155 158 and legal
fees made up R534 657. During the period the house on the Carltonville Brewery
site was sold for R321 958
PROSPECTS
The directors have made the decision to take back the operations of both the
mill and the Carltonville Brewery.
Trading through the mill has commenced in Feb 2006, and the Carltonville brewery
is awaiting its approval for its liquor license.
On Behalf of the board
TW FORD (Chairman)
31 MARCH 2005
Registered Office:
6 Delfos Boulevard, NW7, Vanderbijlpark, 1911
Transfer secretaries:
Computershare, 70 Marshall Street, JHB, 2107
Directors:
TW Ford (Managing), J Barnado (ne), A Venter (ne), I Vermaak
Secretary: JM Caddy
Auditors: Baxters
ABRIDGED GROUP INCOME STATEMENT
Unaudited Unaudited Audited
6 Months 6 Months Year
ended ended ended
31/12/2005 31/12/2004 30/06/2005
Revenue 265,193 1,057,430 1,062,474
Operating profit/(loss) -485,138 -500,933 -897,324
Net interest earned/(paid) -106,448 -215,893
Net profit/(loss) before -591,586 -500,933 -1,113,217
extraordinary item
Extraordinary item - - -788,200
Net profit/(loss) before -591,586 -500,933 -1,901,417
taxation
Taxation - - -
Net profit/(loss) for the -591,586 -500,933 -1,901,417
period
Supplementary Information
Number of shares in issue 84,556,909 84,556,909 84,556,909
Earnings per share (cents) -0.70 -0.59 -2.25
Headline earnings per share -0.70 -0.59 -1.32
(cents)
Dividend per share (cents) - - -
ABRIDGED GROUP BALANCE SHEET
Unaudited Unaudited Audited
6 Months 6 Months Year
ended ended ended
31/12/2005 31/12/2004 30/06/2005
ASSETS
Non-current Assets 5,358,702 6,007,039 5,127,910
Property, plant and equipment 5,358,702 6,007,039 5,127,910
Investments - - -
Current Assets 122,910 16,954 84,477
Accounts receivable 122,650 - 79,650
Cash and bank 260 16,954 4,827
Total Assets 5,481,612 6,023,993 5,212,387
EQUITY AND LIABILITIES
Capital and Reserves -5,985,296 -4,404,914 -5,805,398
Share capital and reserves -5,985,296 -4,404,914 -5,805,398
Non-current Liabilities 7,613,532 7,765,295 7,784,595
Shareholder"s loans - interest 2,025,000 2,025,000 2,025,000
bearing
Shareholder"s loans - non 5,588,532 5,740,295 5,759,595
interest bearing
Current Liabilities 3,853,376 2,663,612 3,233,190
Accounts payable 2,651,461 2,663,612 2,031,275
Provisions 1,201,915 - 1,201,915
Total Equity and Liabilities 5,481,612 6,023,993 5,212,387
STATEMENT OF CHANGES IN EQUITY
Unaudited Unaudited Audited
6 Months 6 Months Year
ended ended ended
31/12/2005 31/12/2004 30/06/2005
Balance at beginning of period -5,805,398 -3,903,981 -3,903,981
Revaluation of Property 411,688 - -
Net profit/(loss) for the -591,586 -500,933 -1,901,417
period
Balance at end of period -5,985,296 -4,404,914 -5,805,398
ABRIDGED GROUP CASH FLOW STATEMENT
Unaudited Unaudited Audited
6 Months 6 Months Year
ended ended ended
31/12/2005 31/12/2004 30/06/2005
Net cash flow from operating -160,462 -133,141 -189,568
activities
Net cash flow from investing 326,958 - 25,000
activities
Net cash flow from financing -171,063 142,815 162,115
activities
Net change in cash and bank -4,567 9,674 -2,453
Cash and bank at beginning of 4,827 7,280 7,280
period
Cash and bank at end of period 260 16,954 4,827
Date: 30/03/2006 03:03:04 PM Produced by the JSE SENS Department
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