|
VTL
VTL
VTL - Ventel - Reviewed Financial Results for the year ended 31 December 2006
VENTER LEISURE AND COMMERCIAL TRAILERS LIMITED
(Incorporated in the Republic of South Africa)
(Registration Number 1985/070343/06)
Share code: VTL
ISIN: ZAE000007811
("VENTEL")
Reviewed Financial Results for the year ended 31 December 2006
The reviewed financial results of the VENTEL Group are
set out below :
Abridged Consolidated Income Statement Audited
Reviewed
31 31
December December
2006 2005
R`000 R`000
Revenue 56,534 53,152
Income from operations 5,057 3,074
Net interest paid (936) (1,074)
Income before relocation costs 4,121 2,000
Relocation costs 0 (753)
Income before taxation 4,121 1,247
Taxation (70) 0
Net income attributable to ordinary 4,051 1,247
shareholders
Average number of shares in issue (`000) 50,495 50,495
Earnings per share (cents) 8 ,02 2,47
Headline earnings adjustment :
Loss on disposal of property, plant and 0 0
equipment (cents)
Headline earnings per share (cents) 8,02 2,47
Audited
Reviewed
31 31
December December
Abridged Consolidated Balance Sheet 2006 2005
R`000 R`000
Assets
Non Current Assets
Property, Plant & Equipment 15,781 14,716
Intangible Assets 1,031 1,086
Loan Receivable 1,501 1,316
Current Assets 20,003 20,989
Total Assets 38,316 38,107
Equity and Liabilities
Shareholders` Equity 10,888 6,837
Non Current Liabilities
Interest bearing liabilities 15,470 17,154
Non interest bearing liability 1,003 1,003
Current Liabilities 10,955 13,113
Total Equity and Liabilities 38,316 38,107
Net tangible asset value per share (cents) 19,62 11,39
Audited
Reviewed
31 31
December December
Abridged Consolidated Statement of Changes in 2006 2005
Equity
R`000 R`000
Equity at beginning of period as previously 6,837 3,870
reported
Net income for the period attributable to 4,051 1,247
ordinary shareholders
Revaluation of land and buildings 0 1,720
Equity at end of period 10,888 6,837
Audited
Reviewed
31 31
December December
Abridged Consolidated Cash Flow Statement 2006 2005
R`000 R`000
Cash flows from operating activities 5,446 8,756
Cash flows from investing activities (3,539) (4,907)
Cash flows from financing activities (1,684) (2,156)
Net cash and cash equivalents 223 1,693
generated/(utilised)
Cash and cash equivalents at beginning of (2,983) (4,676)
period
Cash and cash equivalents at end of period (2,760) (2,983)
Commentary
Operational Review
Despite sales during the second six months being below expectations, the group
returned a profit from operations of R5,1 million resulting in headline earnings
increasing to 8,02 cents per share. Manufacturing efficiencies contributed to
the continued increases in income from operations. Improved cash collections
enabled the group to take advantage of early settlement discounts.
Interest bearing liabilities have been reduced by 9.8% since 2005. The resulting
benefits will be realised in the future years. Continued investment in
manufacturing capacity will also yield long term benefits.
Accounting policies
The results are prepared in accordance with International Financial Reporting
Standards (IFRS) and are consistent with prior financial year.
Appointment of Auditors
PKF (Jhb) Inc. resigned and Moores Rowland were appointed as new auditors during
the financial year.
Report of the Independent Auditors
The financial information contained in this announcement has been reviewed by
the group`s auditors, Moores Rowland. A copy of their unqualified report is
available for inspection at Ventel`s registered offices.
Directorate
The board of directors remain unchanged.
Dividends
No dividend was proposed for this period.
By order of the board
DP Hamann GE Hamann
Directors:
DP Hamann, GE Hamann, N Hamann (non-executive), JH Botha, R Weber (Alt.)
Registered office:
154 Axie Road, Devland. (PO Box 57178, Springfield, 2137)
Transfer Secretaries:
Computershare Investor Services 2004 (Pty) Ltd
70 Marshall Street, Johannesburg, 2001. (PO Box 61051, Marshalltown, 2107)
Company Secretary:
Probity Business Services (Pty) Ltd
3rd Floor, JHI House, 11 Cradock Avenue, Rosebank. (PO Box 85392, Emmarentia,
2029)
Auditors:
Moores Rowland
2nd Floor, Moores Rowland House, 5 St Davids Place, Parktown. (PO Box 6697,
Johannesburg, 2000)
Date: 23/03/2007 14:44:01 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 ] | |||||||||||||
|
|||||||||||||
