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  Reviewed Results 2002     E-mail

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The current reporting period is for the year ended 31 December 2002. Following a change in the financial year-ends from 30 June to 31 December 2001, the previous reporting period was for 18 months.

NOTES TO THE ABRIDGED FINANCIAL STATEMENTS

 
 
1. These consolidated abridged financial statements are prepared in accordance with South African Statements of Generally Accepted Accounting Practice. The accounting policies used in the preparation of the provisional financial statements are consistent with those used in the annual financial statements for the 18 months ended 31 December 2001.
 
    REVIEWED 
12 MONTHS 
ENDED 
31 DECEMBER 
2002 
AUDITED 
18 MONTHS 
ENDED 
31 DECEMBER 
2001 
2. Revenue    
  Lease rentals, finance charges and interest 19,7  49,5 
    19,7  49,5 
3. Headline (loss)/earnings    
  (Loss)/Earnings (175,0) 382,6 
  Attributable share of headline earnings adjustments of associate company 11,4  (37,8)
  Headline (loss)/earnings (163,6) 344,8 
  Weighted average number of shares in issue (million) 897,8  897,8 
  Headline (loss)/earnings per share (cents) (18,2) 38,4 
       
3.1 The dilution arises as a result of any future conversion of convertible debentures. The directors are of the opinion that the debentures will not be converted in the foreseeable future and therefore no dilution is anticipated for the foreseeable future.  No dilutive effect has been presented in respect of the current year as this would be anti-dilutive.
 
   
4. Current assets    
  Accounts receivable 0,1  0,2 
  Current portion of long-term loans 13,6  58,0 
  Amount owing by affiliated company 2,3  8,7 
  Cash and cash equivalents 5,1  8,6 
    21,1  75,5 
5. Current liabilities    
  Accounts payable 0,9  4,5 
  Taxation 1,5  6,7 
  Current portion of interest-bearing borrowings 8,6  53,8 
    11,0  65,0 

 
 
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