Go Back Email this Link to a friend


Spanjaard Limited Interim Report For The Six Months To 31 August 2000

Release Date: 26/09/2000 10:18:02      Code(s): SPA
SPANJAARD LIMITED AND ITS SUBSIDIARIES
(INCORPORATED IN THE REPUBLIC OF SOUTH AFRICA)
REGISTRATION NO.  1960/004393/06
INTERIM REPORT - SIX MONTHS TO 31 AUGUST 2000
CONSOLIDATED INCOME STATEMENT
                            SIX MONTHS     SIX MONTHS   SIX MONTHS
                            TO 31.08.00    TO 31.08.99  TO 29.02.00
                            (UNAUDITED)    (UNAUDITED)  (AUDITED)
                            R'000          R'000        R'000
TURNOVER                    32,544         24,035       53,369
OPERATING PROFIT            2,198          1,332        2,620
FINANCIAL COSTS             830            729          1,844
DEPRECIATION                525            357          1,006
PROFIT  BEFORE TAXATION     843            246          -230
TAXATION                    357            123          -128
PROFIT ATTRIBUTABLE TO
ORDINARY SHAREHOLDERS       486            123          -358
ORDINARY DIVIDEND           -              -            -
RETAINED PROFIT FOR
THE PERIOD                  486            123          -358
RETAINED PROFIT AT
BEGINNING OF YEAR           4,496          4,854        4,854
RETAINED PROFIT AT
END OF PERIOD               4,982          4,977        4,496
HEADLINE EARNINGS/(LOSS)
PER SHARE (CENTS)           10.0           3.6          (3.3)
EARNINGS/(LOSS) PER
ORDINARY SHARE (CENTS)      8.5            2.2          (6.3)
DIVIDEND PER ORDINARY
SHARE (CENTS)               -              -            -
CONSOLIDATED BALANCE SHEET
EMPLOYMENT OF CAPITAL
FIXED ASSETS                7,116          7,104        7,469
INTANGIBLE FIXED ASSETS     1,887          2,223        1,971
OTHER INVESTMENTS           -              17           -
CURRENT ASSETS              25,151         12,892       17,817
TOTAL ASSETS                34,154         22,236       27,257
CURRENT LIABILITIES
AND PROVISIONS              -24,734        -13,981      -18,771
INTEREST BEARING            -6,929         -5,714       -6,316
NON-INTEREST BEARING        -17,805        -8,267       -12,455
                            9,420          8,255        8,486
CAPITAL EMPLOYED
SHARE CAPITAL AND PREMIUM   520            520          520
OTHER RESERVES              1,356          1,310        1,385
DISTRIBUTABLE RESERVES      4,982          4,977        4,496
SHAREHOLDERS' INTEREST      6,858          6,807        6,401
LONG-TERM LIABILITIES       2,206          1,249        1,890
DEFERRED TAXATION           356            199          195
                            9,420          8,255        8,486
NUMBER OF ORDINARY
SHARES IN ISSUE ('000)      5,700          5,700        5,700
NET ASSET VALUE PER
SHARE (CENTS)               120            119          112
CAPITAL EXPENDITURE
DURING THE PERIOD ('000)    613            430          1,891
OVERDRAFTS AND
ACCEPTANCES                 6,489          5,260        5,729
CONSOLIDATED BORROWINGS
LONG-TERM LIABILITIES
LOANS                       946            730          946
SUSPENSIVE SALE AGREEMENTS  1,260          519          944
                            2,206          1,249        1,890
SHORT-TERM BORROWINGS       6,929          5,714        6,316
                            9,135          6,983        8,206
GENERAL REVIEW
CONSOLIDATED GROUP TURNOVER HAS GROWN BY 35% FROM R24,0M TO R32,5M WHEN
COMPARED TO THE FIRST SIX MONTHS OF THE PREVIOUS FINANCIAL YEAR. A LARGE PART
OF THIS INCREASE IS ATTRIBUTABLE TO THE IMPROVED VOLUMES AND PRICING AT THE
METAL POWDER OPERATIONS. MANAGEMENT'S CONTINUING EFFORTS TO STREAMLINE THE
OPERATIONS WITHIN THE GROUP ARE ALSO NOW BEARING FRUIT AS EVIDENCE BY THE
SOONER SOONER THAN EXPECTED TURN-AROUND IN CONSOLIDATED INCOME. THERE IS EVERY
INDICATION AT THIS POINT THAT THE IMPROVED SALES PERFORMANCE OF THE FIRST SIX
MONTHS CAN BE REDUCED IN THE SECOND SIX MONTHS GIVEN THE MARKET'S ACCEPTANCE OF
THE NEW PRODUCTS WHICH ARE BEING INTRODUCED AS WELL AS THE HIGHER VOLUMES
RELATING TO THE EXISTING PRODUCTS.
BY ORDER OF THE BOARD
R.SACK CA (SA) - COMPANY SECRETARY
26 SEPTEMBER 2000
DIRECTORS: R.J.W. SPANJAARD (CHAIRMAN), T.S.GIEN, V,KORINEK, R.G.NICHOLSON
(NON-EXECUTIVE), D.H.PETERSEN (GERMAN), R.SACK
REGISTERED OFFICE
748-750 FIFTH STREET
WYNBERG
SANDTON 2090
TRANSFER SECRETARIES
MERCANTILE REGISTRARS LIMITED
11 DIAGONAL STREET
JOHANNESBURG 2001



                                        
Email this JSE Sens Item to a Friend.

Send e-mail to
© 2017 SHARENET (PTY) Ltd, Cape Town, South Africa
Home     Terms & conditions    Privacy Policy
    Security Notice    Contact Details
Market Statistics are calculated by Sharenet and are therefore not the official JSE Market Statistics. The calculation/derivation may include underlying JSE data.