NOTES TO THE ABRIDGED FINANCIAL STATEMENTS

1. These consolidated abridged interim financial statements are prepared in accordance with South African Statements of Generally Accepted Accounting Practice. The accounting policies used in the preparation of the interim financial statements are consistent with those used in the annual financial statements for the year ended 31 December 2002.
              UNAUDITED
              6 MONTHS
              ENDED
              30 JUNE
AUDITED 
YEAR 
ENDED 
31 DECEMBER 
R MILLION   2003   2002  2002 
     
2.
Revenue
Finance income 8,0  11,0  19,6 
  8,0  11,0  19,6 
3.
 
Headline loss
Loss attributable to shareholders (67,0) (100,2) (175,0)
Attributable share of headline earnings adjustments of associate company 3,5  3,6  11,4 
Headline loss (63,5) (96,6) (163,6)
Weighted average number of shares in issue (million) 897,8  897,8  897,8 
Headline loss per share (cents) (7,1) (10,8) (18,2)

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 or prior future.  No dilutive effect has been presented in respect of the current or prior year as this would be anti-dilutive.
4.
 
Current assets
Accounts receivable 8,1  22,0  13,8 
Amount owing by affiliated company 1,8  3,8  2,3 
Cash and cash equivalents 0,8  5,1 
  10,7  25,8  21,2 
5.
 
Current liabilities
Accounts payable 0,9  0,5  0,9 
Taxation 1,9  1,3  1,6 
Bank overdrafts and short-term loans –  0,1  – 
Current portion of interest-bearing borrowings 1,6  23,1  8,6 
  4,4  25,0  11,1 

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