ARH - ARB - Unaudited interim results for the six months ended 31 December 2011

Release Date: 09/02/2012 07:05
Code(s): ARH
 
Wrap Text

ARH - ARB - Unaudited interim results for the six months ended 31 December 2011 ARB HOLDINGS LIMITED (Registration number: 1986/002975/06) Share code: ARH ISIN: ZAE000109435 ("ARB" or "the company" or "the group") UNAUDITED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 DECEMBER 2011 HIGHLIGHTS * Revenue up 13% * Operating profit up 8% * Ungeared with R240 million cash on hand * Acquisition of Eurolux completed BASIS OF PREPARATION The condensed unaudited consolidated interim financial statements for the six months ended 31 December 2011 have been prepared in compliance with International Financial Reporting Standards ("IFRS"), IAS34 - Interim Financial Reporting, the AC500 series of interpretations, the South African Companies` Act and the Listings Requirements of the JSE Limited. The accounting policies applied are consistent with those applied in the annual financial statements for the year ended 30 June 2011 and the six months ended 31 December 2010. The condensed consolidated interim financial statements have not been audited or reviewed by the group`s auditors. The unaudited interim financial statements have been prepared under the supervision of the Financial Director, WR Neasham, CA(SA). CONDENSED GROUP STATEMENT OF COMPREHENSIVE INCOME Unaudited Unaudited Audited 6 months 6 months year to to 31 Dec to 31 Dec 30 June 2011 2010 2011
R000`s R000`s R000`s Revenue 693 497 614 702 1 256 330 Cost of sales 562 939 500 008 1 021 499 Gross profit 130 558 114 694 234 831 Other income 2 812 1 123 1 730 Operating expenses (73 362) (60 474) 126 315 Profit before interest and taxation 60 008 55 343 110 246 Interest received 9 238 9 353 16 907 Interest paid (194) (70) (137) Profit before taxation 69 052 64 626 127 016 Taxation 22 812 21 120 38 338 Profit for the period 46 240 43 506 88 678 Revaluation of property, plant and equipment (net of taxation) - - 2 802 Total comprehensive income for the period 46 240 43 506 91 480 Profit for the period attributable to: 46 240 43 506 88 678 Non-controlling interest 9 354 8 092 16 662 Ordinary shareholders 36 886 35 414 72 016 Total comprehensive income attributable to: 46 240 43 506 91 480 Non-controlling interest 9 354 8 092 16 662 Ordinary shareholders 36 886 35 414 74 818
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