VUNANI LIMITED Reviewed Provisional Condensed Consolidated Results for the 14 month period ended 29 February 2016 1
REVIEWED PROVISIONAL CONDENSED CONSOLIDATED RESULTS
For the 14 month PerIoD enDeD 29 February
2016
LIMITE D
VUNANI LIMITED ("Vunani" or "the company" or "the group") Incorporated in the Republic of South Africa
Registration number: 1997/020641/06
JSE code: VUN ISIN: ZAE000163382 Listed on AltX on the JSE Limited ("JSE") These results are available on our website www.vunanilimited.co.za
The Reviewed Provisional Condensed Consolidated Results have been prepared under the supervision of the Chief Financial Officer, Aphrodite Judin CA(SA).
2 VUNANI LIMITED Reviewed Provisiona
Condensed consolidated statement of comprehensive income
for the 14 month period ended 29 February 2016
Figures in R'000 Note | 14 months Reviewed 29 February 2016 | 12 months Audited 31 December 2014 Re-presented* |
Continuing operations | 154 190 | 115 016 |
Revenue 1 | ||
Other income | 12 546 | 5 475 |
Investment revenue | 8 263 | 14 220 |
Interest received from investments | 2 047 | 2 384 |
Fair value adjustments and impairments 2 | (18 934) | (17 922) |
Equity accounted earnings (net of income tax) * | 31 797 | (86) |
Operating expenses | (183 291) | (146 040) |
Results from operating activities | 6 618 | (26 953) |
Finance income | 4 505 | 6 060 |
Finance costs | (2 697) | (2 960) |
Net finance income | 1 808 | 3 100 |
Profit/(loss) before income tax | 8 426 | (23 853) |
Income tax expense | (116) | (1 462) |
Profit/(loss) from continuing operations | 8 310 | (25 315) |
Discontinued operations | ||
(Loss)/profit from discontinued operations | ||
(net of income tax) 3 | (141) | 92 300 |
Profit for the period | 8 169 | 66 985 |
Other comprehensive income | ||
Items that are or may be reclassified to profit | ||
or loss | ||
Exchange differences on translating foreign operations | 142 | 243 |
Total comprehensive income for the period | 8 311 | 67 228 |
Profit/(loss) from continuing operations | 6 860 | (23 069) |
attributable to: | ||
Equity holders of Vunani Limited | ||
Non-controlling interest | 1 450 | (2 246) |
8 310 | (25 315) | |
Profit for the period attributable to: | 6 750 | 56 039 |
Equity holders of Vunani Limited | ||
Non-controlling interest | 1 419 | 10 946 |
8 169 | 66 985 | |
Total comprehensive income for the period | 6 417 | 56 036 |
attributable to: | ||
Equity holders of Vunani Limited | ||
Non-controlling interest | 1 894 | 11 192 |
8 311 | 67 228 | |
Basic and diluted earnings per share (cents) Basic and diluted earnings/(loss) per share from continuing operations (cents) Basic and diluted (loss)/earnings per share from discontinued operations (cents) Basic and diluted headline earnings/(loss) per share (cents) 4 Basic and diluted headline earnings/(loss) per share from continuing operations (cents) Basic and diluted headline loss per share from discontinued operations (cents) | 6.2 | 54.6 |
6.3 | (22.5) | |
(0.1) | 77.1 | |
5.8 | (27.5) | |
5.9 | (24.7) | |
(0.1) | (2.8) |
REVENUE OF
R154.2 million compared to R115.0 million at 31 December 2014PROFIT FOR THE PERIOD FROM CONTINUING OPERATIONS OF
R8.3 million compared to a loss of R25.3 million at 31 December 2014BASIC EARNINGS PER SHARE FROM CONTINUING OPERATIONS OF
6.3c compared to a loss per share of 22.5c at 31 December 2014ACQUIRED SIGNIFICANT STAKE IN
Fairheads International Holdings (SA) in May 2015* In the current period, the equity accounted earnings (net of income tax) were presented as part of operating activities. The prior year comparatives have been re-presented to reflect this change in presentation.
l Condensed Consolidated Results for the 14 month period ended 29 February 2016
Condensed consolidated statement of financial position
at 29 February 2016
Figures in R'000 | Note | 14 months Reviewed 29 February 2016 | 12 months Audited 31 December 2014 |
Assets | 8 655 | 6 787 | |
Property, plant and equipment | |||
Goodwill | 34 123 | 34 123 | |
Intangible assets | 184 | 1 042 | |
Investments in and loans to associates | 76 909 | 17 686 | |
Other investments | 5 | 34 318 | 102 270 |
Deferred tax asset | 46 203 | 44 890 | |
Other non-current assets | 22 504 | 22 005 | |
Total non-current assets | 222 896 | 228 803 | |
Other investments | 5 | 3 769 | 8 900 |
Other current assets | 1 598 | 2 823 | |
Taxation prepaid | 1 267 | 886 | |
Non-current assets held for sale | 6 | 42 504 | - |
Trade and other receivables | 25 186 | 39 085 | |
Accounts receivable from trading activities | 648 817 | 120 573 | |
Trading securities | 131 | 251 | |
Cash and cash equivalents | 17 562 | 67 773 | |
Total current assets | 740 834 | 240 291 | |
Total assets | 963 730 | 469 094 | |
Equity | 624 888 | 624 888 | |
Stated capital | 7 | ||
Treasury shares | (15 571) | (15 571) | |
Share-based payments reserve | 12 871 | 13 249 | |
Foreign currency translation reserve | (1 233) | (900) | |
Accumulated loss | (365 474) | (364 004) | |
Equity attributable to equity holders of Vunani Limited | 255 481 | 257 662 | |
Non-controlling interest | 1 670 | (2 818) | |
Total equity | 257 151 | 254 844 | |
Liabilities | 10 150 | 20 298 | |
Other financial liabilities | 5 | ||
Deferred tax liabilities | 2 152 | 7 825 | |
Total non-current liabilities | 12 302 | 28 123 | |
Other financial liabilities | 5 | 10 982 | 25 282 |
Taxation payable | 4 498 | 9 648 | |
Trade and other payables | 30 458 | 29 555 | |
Accounts payable from trading activities | 647 872 | 120 525 | |
Bank overdraft | 467 | 1 117 | |
Current liabilities | 694 277 | 186 127 | |
Total liabilities | 706 579 | 214 250 | |
Total equity and liabilities | 963 730 | 469 094 | |
Shares in issue (000s) | 7 | 114 665 | 114 665 |
Net asset value per share (cents) | 222.8 | 224.7 | |
Net tangible asset value per share (cents) | 192.9 | 194.0 |
Net asset value per share (cents)
Net asset value per share is the equity attributable to equity holders of Vunani Limited, utilising all shares in issue, including treasury shares.
Net tangible asset value per share (cents)
Net tangible asset value per share is the equity attributable to equity holders of Vunani Limited, (excluding goodwill and intangible assets) utilising all shares in issue, including treasury shares.
VUNANI LIMITED Reviewed Provisional Condensed Consolidated Results for the 14 month period ended 29 February 2016 3
Condensed consolidated statement of changes in equity
Figures in Rand 000's | Stated capital | Treasury shares | Share based payment reserve | Foreign currency translation reserve | Accumulated loss | Total attribu- table to equity holders | Non- controlling Total interest equity |
for the 14 month period ended 29 February 2016
Balance at 31 December 2013 - Audited | 610 088 | (15 265) | 10 256 | (897) | (389 709) | 214 473 | (6 226) | 208 247 |
Total comprehensive income for the year | ||||||||
Profit for the year | - | - | - | - | 56 039 | 56 039 | 10 946 | 66 985 |
Other comprehensive income for the year | - | - | - | (3) | - | (3) | 246 | 243 |
Total comprehensive income for the year | - | - | - | (3) | 56 039 | 56 036 | 11 192 | 67 228 |
Transactions with owners, recorded directly in equity | ||||||||
Shares issued | 14 800 | - | - | - | - | 14 800 | - | 14 800 |
Share based payments | - | 2 993 | - | - | 2 993 | - | 2 993 | |
Treasury shares acquired | - | (306) | - | - | - | (306) | - | (306) |
Dividends paid | - | - | - | (30 016) | (30 016) | (11 677) | (41 693) | |
Disposal to non-controlling interest | - | - | - | - | (318) | (318) | 318 | - |
Acquisition of non-controlling interests | - | - | - | - | - | - | 3 575 | 3 575 |
Total transactions with owners | 14 800 | (306) | 2 993 | - | (30 334) | (12 847) | (7 784) | (20 631) |
Balance at 31 December 2014 - Audited | 624 888 | (15 571) | 13 249 | (900) | (364 004) | 257 662 | (2 818) | 254 844 |
Total comprehensive income for | - | - | - | - | 6 750 | 6 750 | 1 419 | 8 169 |
the period | ||||||||
Profit for the period | ||||||||
Other comprehensive income for the period | - | - | - | (333) | - | (333) | 475 | 142 |
Total comprehensive income for the period | - | - | - | (333) | 6 750 | 6 417 | 1 894 | 8 311 |
Transactions with owners, | - | - | 1 628 | - | - | 1 628 | - | 1 628 |
recorded directly in equity | ||||||||
Share based payments | ||||||||
Transfer between reserves | - | - | (2 006) | - | 2 006 | - | - | |
Dividends paid | - | - | - | - | (6 014) | (6 014) | (1 618) | (7 632) |
Acquisition of non-controlling interests | - | - | - | - | (4 212) | (4 212) | 4 212 | - |
Total transactions with owners, recorded directly in equity | - | - | (378) | - | (8 220) | (8 598) | 2 594 | (6 004) |
Balance at 29 February 2016 - Reviewed | 624 888 | (15 571) | 12 871 | (1 233) | (365 474) | 255 481 | 1 670 | 257 151 |
DIVIDENDS
Figures in R'000 | Reviewed Audited 29 February 31 December 2016 2014 | |
Ordinary dividend paid Ordinary dividend number 2 of 5.5 cents per share (2014: ordinary dividend number 1 of 5.0 cents per share) declared on 30 March 2015 and paid to ordinary shareholders on 28 April 2015 (net of treasury shares held) Special dividend paid Special dividend number 1 of 25.0 cents per share (net of treasury shares held) | 6 014 - | 5 003 25 013 |
6 014 | 30 016 |
4 VUNANI LIMITED Reviewed Provisional Condensed Consolidated Results for the 14 month period ended 29 February 2016
Vunani Ltd. published this content on 24 May 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 24 May 2016 12:50:02 UTC.
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