Nictus Limited

(Incorporated in the Republic of South Africa) (Registration number 81/011858/06)

JSE Share code: NCS ISIN Code NA0009123481

("Nictus" or "the Company" or "the Group")

Abridged report relating to the audited financial results for the year ended 31 March 2017 and details of the notice of the annual general meeting

Abridged consolidated statement at 31 March 2017

Figures in R'000

of

financial

position

2017

2016

Assets

Property, plant and equipment

17 629

17 230

Intangible assets

101

355

Investments

22

062

39

841

Deferred tax assets

1

424

1

145

Loans and receivables

3

668

4

768

Non-current assets

44

884

63

339

Inventories

11

284

11

185

Loans and receivables

44

766

46

468

Trade and other receivables

335

484

254

464

Investments

100

766

22

988

Cash and cash equivalents

57

603

118

112

Current assets

549

903

453

217

Total assets

Equity and liabilities Stated capital

594

48

787

668

516

48

556

668

Revaluation reserve

7

983

7

983

Retained earnings

42

652

37

749

Equity Liabilities

Deferred tax liabilities

99

2

303

398

94

2

400

602

Non-current liabilities

2

398

2

602

Trade and other payables

10

837

7

610

Insurance contract liability

482

180

411

944

Current tax payable

69

-

Current liabilities

493

086

419

554

Total liabilities

495

484

422

156

Total equity and liabilities

594

787

516

556

Abridged consolidated statement of profit or loss and other comprehensive income

for the year ended 31 March 2017

Figures in R'000 2017 2016

Revenue

44

651

51

062

Cost of sales

(21

628)

(20

621)

Gross profit

23

023

30

441

Other income

2

117

4

062

Investment income from operations

37

884

30

699

Operating expenses

(43

991)

(40

626)

Administrative expenses

(16

805)

(19

146)

Results from operating activities

2

228

5

430

Investment income

4

841

3

869

Profit before taxation

7

069

9

299

Taxation expense

(178)

(1

312)

Profit for the year

Other comprehensive income:

6

891

7

987

Items that will never be reclassified to profit or loss

Tax related to property valuation -

capital gains tax rate change - (187)

Total comprehensive income Profit attributable to: Owners of the parent

for the year

6

6

891

891

7

7

800

987

Total comprehensive income to:

attributable

Owners of the parent

6

891

7

800

Basic earnings per share (cents)

10,40

12,05

Diluted basic earnings per share (cents)

10,40

12,05

Abridged consolidated statement of cash flows for the year ended 31 March 2017

Figures in R'000 2017 2016

Cash flows from operating activities Cash utilised by operations

(41

680)

(75

909)

Investment income received from operations

36

728

29

264

Dividends received

1

156

1

435

Dividends paid

(1

988)

(1

988)

Tax paid

(592)

-

Net cash utilised

by

operating activities

(6 376)

(47

198)

Cash flows from investing activities

Acquisition equipment

of property, plant and

(965)

(336)

Proceeds on equipment

sale of property, plant

and

115

104

Acquisition

of intangible assets

-

(22)

Proceeds from disposal of investments

17

949

1

873

Investment income received

4

841

3

869

Short-term funds (invested)/disinvested

(77

778)

108

893

Loans repaid by/(advanced to) related parties

1

702

(7

187)

Proceeds on disposal of subsidiary

7

-

Net cash (utilised by)/generated from investing activities

(54

129)

107

194

Total cash movement for the year

(60

505)

59

996

Total cash sold by subsidiary for the

year

(4)

-

Cash and cash equivalents at the beginning of the year

118

112

58

116

Total cash and cash equivalents at the end of the year

57

603

118

112

Abridged consolidated statement of changes in equity for the year ended 31 March 2017

Re-

Stated

valuation

Retained

Total

Figures

in R'000

capital

reserve

earnings

equity

Balance at 1 April 2015 48 668 8 170 31 577 88 415 Total comprehensive income

for the year

Profit for the year - - 7 987 7 987 Other comprehensive income

Deferred tax on property revaluations

- capital gains tax change

rate

- (187)

-

(187)

Total comprehensive for the year

income

- (187)

7

987

7 800

Transactions with the owners of the company

Distributions to the owners of the company

Dividends paid

- - (1 988)

(1 988)

Prescribed dividends

- - 173

173

Total transactions with the owners of the company

- - (1 815)

(1 815)

Balance at 31 March 2016

48

668 7 983 37 749

94 400

Total comprehensive income for the year

Profit for the year

- - 6 891

6 891

Total comprehensive income for the year

- - 6 891

6 891

Transactions with the owners of the company

Distributions to the owners of the company

Dividends paid

- - (1 988)

(1 988)

Total transactions with the owners of the company

-

-

(1 988)

(1 988)

Balance at 31 March 2017

48

668

7

983

42 652

99 303

Abridged segmental report

for the year ended 31 March 2017 Figures in R'000

2017

2016

Segment assets Furniture retail

62 793

63

679

Insurance and finance

563 378

486

431

Sub-total

626 171

550

110

Head office and eliminations

(31 384)

(33

554)

Total segment assets Segment revenue

594 787

516

556

Furniture retail

36 712

36

564

Insurance and finance

9 416

15

918

Sub-total

46 128

52

482

Head office and eliminations

(1 477)

(1

420)

Total segment revenue

Net (loss)/profit for the year Furniture retail

44 651

(1 156)

51

062

820

Insurance and finance

2 127

3

627

Sub-total

971

4

447

Head office and eliminations

5 920

3

540

Total net profit for the year

6 891

7

987

Accounting policies Basis of preparation

The abridged consolidated financial statements for the year ended

31 March 2017 ("Abridged Financial Statements") are prepared in accordance with the requirements of the JSE Limited ("JSE") Listings Requirements ("Listings Requirements") for abridged reports, and the requirements of the Companies Act of South Africa ("Companies Act") applicable to Abridged Financial Statements.

The Abridged Financial Statements are prepared in accordance with the framework concepts and the measurement and recognition requirements of International Financial Reporting Standards (IFRS) and the SAICA Financial Reporting Guides as issued by the Accounting Practices Committee and Financial Pronouncements as issued by the Financial Reporting Standards Council and to also, as a minimum, contain the information required by IAS 34 Interim Financial Reporting. This announcement does not include the information required pursuant to paragraph 16A(j) of IAS 34. The accounting policies applied in the preparation of the consolidated financial statements, from which the Abridged Financial Statements were derived, are in terms of International Financial Reporting

Nictus Ltd. published this content on 30 June 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 30 June 2017 09:11:04 UTC.

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