| Fri 25 May 2001, 0:00 | | Elexir Technology Holdings Limited - Results |
|
ELEXIR TECHNOLOGY HOLDINGS LIMITED
Results:
Elexir Technology Holdings Limited (ETH) reported a loss of 0.98 cents a
share for the six months ended
28th February 2001, in comparison with 16.28 cents for the previous period,
and a headline loss of 0.89 cents per share.
ETH's refocus on its core business produced a profit for the first time in
two years. However, a new venture by Elexir focusing on telecommunications
in sub-Saharan Africa, accounted for a loss of R951 000 in the six months
under review
Prospects:
It is expected that the current telecommunications venture will become
profitable in the last quarter of the financial year, adding to the final
financial turnaround of ETH.
Board of Directors:
At the annual general meeting held on 28 March 2001, Mr BG Casey was elected
CEO,
Mr IJL Sturgeon was elected as an executive director and Mr D Lockey was
elected as a non-executive director.
At a board meeting on 2 May 2001, Mrs AP Volschenk was elected an executive
director.
M N A MOKOAPE B G CASEY
Chairman Chief
Executive Officer
DIRECTORS :
MNA Mokoape* (Chairman), BG Casey (CEO), IJL Sturgeon, AP Volschenk, D
Lockey * (*non-executive)
31st May 2001
TRANSFER SECRETARIES
Mercantile Registrars Limited, First National House, 11 Diagonal Street,
Johannesburg, 2001.
(P O Box 1053, Johannesburg, 2000)
REGISTERED OFFICE
156 Kyalami Boulevard, Kyalami Business Park, Kyalami, 1684
(P O Box 1819, Fourways, 2055)
ELEXIR TECHNOLOGY HOLDINGS LIMITED
CONSOLIDATED INCOME STATEMENT
for the six months ended @ 28 February
2001
6 months to6 months toYear Ended
28/02/2001 29/02/2000 31/08/2000
(Reviewed) (Reviewed) (Audited)
REVENUE 25,761 27,426 44,507
Cost of inventory sold
GROSS PROFIT
Operating costs net of sundry income
OPERATING (LOSS)/PROFIT (1,488) (4,470) (13,275)
Exceptional items (0) (18,974) (20,313)
Share of associated companies' retained 0 2,086 2,086
profit
Net interest (paid)/ Received 85 (177) (290)
Interest Received 89 38 55
Interest Paid (4) (215) (345)
NET LOSS BEFORE TAXATION (1,403) (21,535) (31,792)
Taxation 0 (16) (45)
(Loss)/Profit attributable to (1,403) (21,551) (31,837)
shareholders
Share of associated companies retained
income
ELEXIR TECHNOLOGY HOLDINGS
28 FEBRUARY 2001 6 months to6 months toYear Ended
28/02/2001 29/02/2000 31/08/2000
(Reviewed) (Reviewed) (Audited)
Reconciliation of Headline earnings
Loss for the period per the income - - -
statement 1,403 1,551 1,837
Adjustments for headline earnings
125 20,321 25,207
Goodwill amortised (excl. software
rights) 125 3,153 4,500
Write off of goodwill to net realisable
value - 30,356 7,599
Wrire off of software rights 394
- 2,425
Exceptional items - profit on sale of -
associate - 15,613 12,714
Headline losses -1,278 -1,230 -6,630
WEIGHTED AVERAGE NUMBER
OF SHARES
As at 1/9/2000 143,128 132,414
130,128
Loss per share -0.98 -16.28 -
(cents) 24.47
Headline loss per -0.89 -0.93 -
share (cents) 5.10
Net asset value per 0.86 10.98
share (cents) 0.63
ELEXIR TECHNOLOGY HOLDINGS LIMITED
28 FEBRUARY 2001
6 months to6 months toYear Ended
BALANCE SHEET 28/02/2001 29/02/2000 31/08/2000
(Reviewed) (Reviewed) (Audited)
CAPITAL EMPLOYED
Share Capital and Share premium
93,343 94,952 91,523
Reserves
-92,107 -80,417 -90,704
TOTAL SHAREHOLDERS' INTEREST
1,236 14,535 819
Shareholders' loans
Amount due to vendors
Amounts due to vendors
Long-term loans
2,016 2,564 1,873
Intergroup loans which do not yet
eliminate
3,252 17,099 2,692
EMPLOYMENT OF CAPITAL
Fixed Assets
4,315 5,610 4,749
Intangible Assets
3,520 10,771 1,825
Investments and Loans
- 1,196 1,000
Investment in associates
- - -
Investment in subsidiaries
- - -
Loans to subsidiaries
- - -
Loan - Other
- - -
Loan share incentive scheme
- - -
Other investments
- - -
- Listed (Aries Shares)
- - -
- Listed (Old Mutual)
- - -
- Old Mutual single premium
- - -
endowment policy
Net current assets
-4,584 -478 -4,883
Current Assets
13,574 11,823 6,855
- Inventory
452 747 349
- Accounts Receivable
10,863 10,331 2,374
- Taxation
- - -
- Short term investments
- - -
- Short-term advances
- - -
- Bank & cash
2,258 745 4,132
Current Liabilities
18,158 12,301 11,738
- Accounts Payable
18,028 10,316 9,623
- SARS (Income Tax)
- - 35
- Bank overdraft
- 1,985 1,737
- Short term loans
- - -
- Short term portion of long-term
liabilities 130 - 343
3,252 17,099 2,692
