IMBALIE BEAUTY LIMITED
"Imbalie Beauty" or "the Company" or "the Group" (Incorporated in the Republic of South Africa) (Registration number 2003/025374/06)
JSE code: ILE
ISIN: ZAE000165239
Short-form announcement: audited condensed consolidated financial results for the year- ended 28 February 2022
FINANCIAL HIGHLIGHTS FROM CONTINUED AND DISCONTINUED OPERATIONS
28 February 2022 | 28 February 2021 | Percentage | |
R'000 | R'000 | Change | |
Revenue from discontinued | |||
operations | 19 004 | 19 046 | (0)% |
Basic loss and diluted basic loss | |||
per share (cents) | (1.69) | (0.68) | (149)% |
Headline loss and diluted headline | |||
loss per share (cents) | (0.07) | (0.42) | 83% |
Net asset value per share (cents) | 0.47 | 2.16 | (78)% |
Net tangible asset value per share | |||
(cents) | 0.47 | 1.05 | (55)% |
Note: No dividends were declared during the year ended 28 February 2022.
In October 2020 the Group was successful in procuring a Covid-19 loan from ABSA Bank Limited, with the bank imposing a pre-condition that the Imbalie Beauty subsidiary that received the Covid-19 loan, no longer be a part of a listed group on the JSE, which process was finalised in January 2022 when a consortium of investors, B&B Media (Pty) Limited, took control of the listed vehicle.
The subsidiaries were disposed of in two separate transactions:
- Placecol Fresh Beauty (Pty) Ltd, Enjoy Beauty (Pty) Ltd, Dream Nails Beauty (Pty) Ltd, Imbalie Beauty Training Academy (Pty) Ltd and iBLOOM Solutions (Pty) Ltd were disposed of in a single transaction which was unconditional on 31 January 2022; and
- Imbalie Innovvation (Pty) Ltd, which held the land and buildings of the Group, was disposed of with effect from 28 February 2022.
The Group's revenue was flat against the prior year at R19.0 million (2021: R19.0 million) as a result of the sale of the majority of the subsidiaries in January 2022 resulting in an 11-month period of trading being compared to the 12-month period in the prior year.
SHORT-FORM STATEMENT
This short-form announcement is the responsibility of the directors. It is only a summary of the information contained in the full announcement and does not contain full or complete details.
Any investment decision should be based on the full announcement accessible from Thursday, 9 June 2022, via the JSE link and will also be available on the Company's website at www.imbaliebeauty.co.za.
The JSE link is as follows:
https://senspdf.jse.co.za/documents/2022/jse/isse/ile/FY2022.pdf
Woodmead
9 June 2022
Designated Adviser
Exchange Sponsors
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Imbalie Beauty Limited published this content on 09 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 June 2022 15:11:06 UTC.