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CCL
CCL
Compu-Clearing - Posting of Annual Financial Statements, Revised Abridged
Financial Statements and Notice of AGM
COMPU-CLEARING OUTSOURCING LIMITED
(Registration number 1998/015541/06)
(Incorporated in the Republic of South Africa)
Share Code: CCL & ISIN: ZAE000016564
("Compu-Clearing" or "the Company")
POSTING OF ANNUAL FINANCIAL STATEMENTS, REVISED ABRIDGED FINANCIAL
STATEMENTS AND NOTICE OF ANNUAL GENERAL MEETING ("AGM")
Shareholders are advised that the audited Annual Financial Statements of
the company were posted to shareholders on Friday, 29 September 2006 and
that there have been no material changes to the reviewed results published
on SENS on Tuesday, 15 August 2006. The revised abridged Financial
Statements are detailed below.
Shareholders are also advised that the AGM of the company will be held at
the offices of Compu-Clearing, North Building, 7 Drome Road, Lyndhurst,
Johannesburg at 14h00 on Wednesday, 25 October 2006. The notice of the AGM
is contained in the abovementioned Annual Financial Statements.
BALANCE SHEET IFRS
restated
30/06/2006 30/06/2005
(Reviewed) (Reviewed)
R"000 R"000
ASSETS
Non current assets 15,879 13,959
Property, plant and equipment 14,370 11,931
Intangible asset 1,111 1,698
Deferred taxation asset 398 330
Current assets 29,194 25,536
Inventory 75 16
Trade and other receivables 7,183 6,369
Taxation receivable 18 1,974
Investments 2,296 4,583
Cash and cash equivalents 19,622 12,594
Total assets 45,073 39,495
EQUITY AND LIABILITIES
Shareholders" funds 40,343 35,396
Share capital and premium 11,657 10,598
Reserves 28,686 24,798
Non-current liabilities 1,824 1,552
Post retirement medical 1,583 1,476
obligations
Deferred taxation liability 241 76
Current liabilities 2,906 2,547
Trade and other payables 2,906 2,540
Taxation payable - 7
Total equity and liabilities 45,073 39,495
Net asset value per share (cents) 103.9 92.0
INCOME STATEMENT IFRS
Year ended restated
30/6/2006 year ended
(Reviewed) 30/6/2005
R"000 (Reviewed)
R"000
Rental and other revenue 38,759 37,563
Operating costs 30,260 29,618
- Distribution 21,961 21,880
- Administration 7,528 6,796
- Other 771 942
Operating profit 9,499 7,945
Branch closure expenses - (281)
Profit before net finance revenue 9,499 7,664
and taxation
Net finance revenue 1,648 1,699
- Financial income 1,843 1,741
- Financial expense (195) (42)
Profit before taxation 11,147 9,363
Taxation- Normal and deferred 3,082 2,720
Taxation- STC (secondary tax on 480 857
companies)
Profit for the year attributable 7,585 5,786
to ordinary shareholders
Actual number of shares in issue 38,836 38,461
("000)
Weighted average number of shares 38,609 38,288
in issue ("000)
Diluted weighted average number 40,589 39,836
of shares in issue ("000)
Basic earnings per share (cents) 19.6 15.1
Diluted earnings per share 18.7 14.5
(cents)
Ordinary dividend paid per share 8.0 6.0
(cents)
Special dividend paid per share 10.0 -
(cents)
RECONCILIATION OF HEADLINE
EARNINGS
Profit for the year attributable
to ordinary shareholders 7,585 5,786
Adjusted for:
Loss on disposal of property,
plant and equipment 123 97
Taxation effect (36) (28)
Headline earnings 7,672 5,855
Headline earnings per share 19.9 15.3
(cents)
Diluted headline earnings per 18.9 14.7
share (cents)
CASH FLOW STATEMENT
IFRS
Year ended restated
30/6/2006 year ended
(Reviewed) 30/6/2005
R"000 (Reviewed)
R"000
Operating profit before net
finance revenue and taxation 9,499 7,945
Non cash items 2,576 3,349
Cash generated by trading 12,075 11,294
operations
Increase / (decrease) in post 107 (115)
retirement medical obligations
Branch closure costs - (281)
Increase in working capital (507) (1,055)
Cash generated by operations 11,675 9,843
Taxation paid (1,516) (6,797)
Dividend paid (3,847) (6,862)
Net financial revenue 1,417 1,077
Cash flow from operating 7,729 (2,739)
activities
Cash flow from investing (1,760) (7,146)
activities
Cash flow from financing 1,059 550
activities
Increase/ (decrease) in cash and 7,028 (9,335)
cash equivalents
Cash and cash equivalents at the 12,594 21,929
beginning of the year
Cash and cash equivalents at the 19,622 12,594
end of the year
Johannesburg
29 September 2006
Sponsor
Sasfin Capital
(a division of Sasfin Bank Limited)
Date: 29/09/2006 01:32:05 PM Produced by the JSE SENS Department
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