RNS Number:4331K
ZCCM Invs.Hldgs PLC
31 March 2005
ZCCM Investments Holdings Plc
Incorporated in the Republic of Zambia
Directors' Quarterly Summary
incorporating Financial Results
for the quarter ended 31 December 2004
DIRECTORS
Mr G K Chibuye (Non-Executive)
Chairman of the Board
Dr S Musokotwane
Secretary to the Treasury
Ministry of Finance and National Planning
Dr M W Lewanika
Permanent Secretary
Ministry of Mines & Minerals Development
Mr G P Mukala
Permanent Secretary
Ministry of Energy & Water Development
Dr D H Kalyalya
Deputy Governor - Operations
Bank of Zambia
Mr E Mutale
General Secretary
Mineworkers' Union of Zambia
Mrs L I Ng'andwe
Commissioner - Finance
Zambia Revenue Authority
Management Committee
General Manager
Vacant
Company Secretary
W S Musama Acting Chairman
Technical Investments Manager
J M D Patterson
Finance and Investments Manager
Z Zekko
Legal Investments Manager
J K Kaite
Technical Investments Officer
W K Katoto
Environmental Manager
J Makumba
Financial Analyst
K K Mulaisho Committee Secretary
DIRECTORS' QUARTERLY SUMMARY
ZCCM - IH Group sales of K31,702 million was achieved during the quarter ended
31 December 2004 compared to K27,129 million at December 2003. During the
quarter, the group recorded operational expenditure of K42,293 compared to
K23,661 million for the corresponding quarter last year.
An operating loss of K10,591 million was recorded against a profit of K3,468
million in the corresponding quarter last year. The overall profit of K20,741
million (2003: K58,008 million) reported was mainly on account of foreign
exchange gains of K23,023 million (2003: K53,140 million). The Kwacha had
appreciated against the US Dollar from K4,923.33 to K4,801.25.
During the quarter, the company's shareholding in Konkola Copper Mines reduced
from 42% to 20.6% on the introduction of Vedanta as a strategic equity partner
taking up 51%. The Company received K80,640 million as compensation for the
dilution.
Subsequent to the year end, Dr M W Lewanika resigned his position as a Director
on the Board of the Company, and Mr L Nkhata, Permanent Secretary, Ministry of
Mines and Minerals Development was appointed as a Director of the Company in his
stead.
By Order of the Board
W S Musama
Company Secretary
Lusaka
30 March 2005
GROUP PROFIT/(LOSS) ACCOUNT FOR THE QUARTER ENDED
31 DECEMBER 2004
QUARTER QUARTER
ENDED ENDED
31 DEC'04 31 DEC'03
notes K'million K'million
__________ __________
Sales 1 31,702 27,129
Cost of sales 2 (42,293) (23,661)
Operating profit/(loss) (10,591) 3,468
Other income 10,681 (2,793)
Consideration for dilution in KCM 80,640 -
Loss on dilution in KCM (88,840) -
Exchange gain/(loss) 23,023 53,140
Environmental expenses (5,238) (1,619)
Interest charge (65) (19)
Interest income 338 2,318
Dividend receivable 5,163 4,715
Royalty on minerals (435) (381)
Profit/(loss) before taxation 14,675 58,829
Income tax (2,135) (821)
Retained profit/(loss) 12,541 58,008
Notes:
1&2 Represents revenue/sales and administrative costs/cost of sales for the
Company and its subsidiaries.
3 Exchange rates applied are:
31 December 2004 US$ = K4,801.25
31 December 2003 US$ = K4,500.95
30 September 2004 US$ = K4,923.33
GROUP BALANCE SHEET As at 31 Dec '04 As at 31 Dec '03
K' million K' million
Current assets
Bank & cash 74,882 45,803
Inventories 15,232 36,657
Metal debtors 0 0
Other debtors 307,375 269,211
_________________ _________________
Total current assets 397,489 351,671
Current liabilities
Creditors
local 43,329 38,850
Overseas 0 21,695
Provisions 297,041 307,608
Taxation 4,625 5,239
Bank overdraft 0 0
Total current liabilities 344,995 373,392
_________________ _________________
Net current assets/(liabilities) 52,494 (21,721)
Long term receivables 161,965 103,521
Investments 361,495 449,409
Fixed assets 88,279 54,109
Long term borrowings (1,352,839) (1,254,684)
Grants/others (14,074) 0
Subordinated loan (865,445) (865,445)
_________________ _________________
Total Net Liabilities (1,568,124) (1,534,811)
_________________ _________________
Financed by:
Share capital 909 909
Reserves (1,569,033) (1,535,720)
_________________ _________________
Total shareholders' funds (1,568,124) (1,534,811)
_________________ _________________
ZCCM INVESTMENTS HOLDINGS PLC
GROUP CASH FLOW STATEMENT
Quarter ended Quarter ended
31 Dec '04 31 Dec '03
K' million K' million
Operating activities
Cash received from customers 12,174 12,322
Cash paid to suppliers and employees (14,809) (33,519)
__________________ _______________
Net cash generated from operating activities (2,635) (21,197)
Interest received and other operating income 6,918 2,520
Interest paid (65) (19)
Taxation paid (1,396) (1,266)
__________________ _______________
5,457 1,235
Net cashflow from operating activities 2,822 (19,962)
Investing activities
Purchase of fixed assets (5,313) (8,673)
Proceeds from sale of fixed assets 0 -
Proceeds from sale of operating units 0 541
__________________ _______________
(5,313) (8,132)
Financing activities
Long term borrowings received 9,522 9,585
Long term borrowing paid (454) (200)
Grants 0 8,211
__________________ _______________
Net cashflow from investing activities 9,068 17,596
Dividend received 5,163 4,715
__________________ _______________
14,231 22,311
Net cash inflow/(outflow) for period 11,740 (5,783)
Cash balances at start of period
Cash and bank balances 63,143 51,586
Bank overdrafts 0 -
__________________ _______________
63,143 51,586
Cash balances at end of period
Cash and bank balances 74,883 45,803
Bank overdrafts 0 -
74,883 45,803
CORPORATE LOCATIONS
Registered Office UK Registrars
Mukuba Pension House CAPITA IRG Plc
First Floor Bourne House
5309 Dedan Kimathi Road 34 Beckenham Road
P O Box 30048 Beckenham
LUSAKA Kent BR3 4TU
Lusaka, 10101, Zambia England
Tel Numbers 260 (01) 221023 Tel No. 020 8639 2000
220351 Fax No. 020 8658 3430
220654
228833 Depository for American Shares
Fax Numbers 260 (01) 221057 JP Morgan Chase & Co
220449 60 Wall Street
220727 New York, NY 10260-0060
United States of America
E-mail:corporate@zccm-ih.com.zm
Tel No. 001 212 648 3207
Kitwe Office Fax No. 001 212 648 5104/5
Investments House
Kantanta Street
P O Box 20172
Kitwe
Tel Numbers 260 (02) 245018
245054
245142
245126
245320
Fax Numbers 260 (02) 245363
245364
245473
E-mail:corporate@zccm-ih.com.zm
This information is provided by RNS
The company news service from the London Stock Exchange
END
IR WUUBGWUPAGQG
Zccm Investments (LSE:ZCC)
過去 株価チャート
から 6 2024 まで 7 2024
Zccm Investments (LSE:ZCC)
過去 株価チャート
から 7 2023 まで 7 2024
