| 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 |
|
|
|
|
|
|
|
| Revenue |
|
|
|
| Finance income |
8,0 |
11,0 |
19,6 |
 |
|
|
|
| |
8,0 |
11,0 |
19,6 |
|
|
|
|
|
|
|
| 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. |
|
|
| 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 |
|
|
|
|
|
|
|
| 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 |
|
|
|
|
|