3rd Quarter Results
2006年7月3日 - 4:00PM
ＲＮＳを含む英国規制内ニュース （英語）
RNS Number:5051F
ZCCM Invs.Hldgs PLC
30 June 2006
ZCCM Investments Holdings Plc
Incorporated in the Republic of Zambia
Directors' Quarterly Summary
incorporating Financial Results
for the quarter ended 31 March 2006
DIRECTORS
Mr G K Chibuye (Non-Executive)
Chairman of the Board
Dr S Musokotwane
Director
Mr L Nkhata
Director
Mr G P Mukala
Director
Dr D H Kalyalya
Director
Mr E Mutale
Director
Mrs L I Ng'andwe
Director
Management Committee
General Manager
Vacant
Company Secretary
Mr W S Musama Acting Chairman
Technical Investments Manager
Mr J M D Patterson
Finance and Investments Manager
Mr Z Zekko
Legal Investments Manager
Mr J K Kaite
Technical Investments Officer
Mr W K Katoto
Environmental Manager
Mr J Makumba
Financial Analyst
Mr K K Mulaisho Committee Secretary
ZCCM INVESTMENTS HOLDINGS PLC
and its subsidiary companies
DIRECTORS QUARTERLY SUMMARY
The Shareholding of Asset Holding Company - Mining Municipal Services Limited
(AHC-MMS), a wholly owned subsidiary of the company, was finally transferred to
the respective district councils on the Copperbelt on 19 January 2006.
The Group achieved a turnover of K14,394 million during the quarter ended 31
March 2006 compared to K42,615 million at 31 March 2005. The steep reduction in
turnover was due to the non inclusion of AHC-MMS data. The Group operational
expenditure was K26,945 million compared to K46,951 million last year.
A net operating loss of K6,102 million was recorded in the quarter, compared to
last year's profit of K15,336 million for the same quarter. The loss reported
was mainly on account of the effects of appreciation of the Kwacha on Lime sales
from Ndola Lime Company Limited coupled with reduced sales volumes (a reduction
of 14% in sales). In addition, there was a reduction in dividend receipts from
Copperbelt Energy Corporation plc and cobalt price participation fees from
Chambishi Metals plc.
During the quarter, the Company committed to invest US$30 million of equity in
the Lumwana Copper Project, in the North-Western Province of Zambia. The
investment will entitle the Company to a Directorship on the Board of Equinox
Copper Ventures Limited, a wholly owned subsidiary of Equinox Minerals Limited.
Subsequent to the quarter end, Dr S Musokotwane resigned from the Board and was
replaced by Mr C Evans Chibiliti, Secretary to the Treasury with effect from 10
April 2006.
By order of the Board
W S Musama
Company Secretary
ZCCM INVESTMENTS HOLDINGS PLC
GROUP PROFIT/(LOSS) ACCOUNT FOR THE QUARTER ENDED 31 MARCH 2006
QUARTER ENDED QUARTER ENDED
31 March 2006 31 March 2005
notes K' million K' million
Turnover 1 14,394 42,615
Cost of Turnover 2 (26,945) (46,951)
Operating profit/(loss) (12,551) (4,336)
Other income 1,414 778
Exchange gain/(loss) 3,878 17,362
Environmental expenses - (2,409)
Impairment of Investments - -
Interest charge (334) -
Interest income 867 249
Dividend receivable 232 4,662
Royalty on minerals (292) (401)
Profit/(loss) before taxation (6,786) 15,905
Income tax 684 (569)
Retained profit/(loss) (6,102) 15,336
Notes:
1 & 2 Represents revenue /sales and administrative costs/cost of sales for
the Company and its subsidiaries.
3 The exchange rates applied are :
31 March 2006 US$ = K3,314
31 March 2005 US$ = K4,709
ZCCM INVESTMENTS HOLDINGS PLC
GROUP BALANCE SHEET As at 31 March 2006 As at 31 March 2005
K' million K' million
Current assets
Bank & cash 70,786 64,780
Inventories 31,898 17,346
Other debtors 326,560 348,937
Total current assets 429,244 431,063
Current liabilities
Creditors (40,670) (57,967)
Provisions (311,228) (317,653)
Taxation (1,241) (8,440)
Bank overdraft (5,081) 0
Total current liabilities (358,220) (384,060)
Net current assets/(liabilities) 71,024 47,003
Long term receivables 37,553 154,136
Investments 418,379 368,662
Fixed assets 13,711 104,869
Long term borrowings (907,157) (1,336,635)
Grants/others 0 (15,168)
Subordinated loan (865,445) (865,445)
Total Net Liabilities (1,231,935) (1,542,578)
Financed by:
Share capital 897 909
Grant reserves 3,038
Reserves (1,235,870) (1,543,487)
Total shareholders' funds (1,231,935) (1,542,578)
ZCCM INVESTMENTS HOLDINGS PLC
GROUP CASH FLOW STATEMENT
Quarter ended Quarter ended
31 March 2006 31 March 2005
K' million K' million
Operating activities
Cash received from customers 500 12,133
Cash paid to suppliers and employees (1,391) (23,648)
Net cash generated from operating
activities (891) (11,515)
Interest received and other operating
income 867 4,177
Interest paid (288) (523)
Taxation paid (799) (629)
(220) 3,025
Net cashflow from operating activities (1,110) (8,490)
Investing activities
Purchase of fixed assets (513) (19,399)
Proceeds from sale of fixed assets 0 -
Proceeds from sale of operating units 446 -
(67) (19,399)
Financing activities
Long term borrowings received 0 9,305
Long term borrowing paid (547) (936)
Grants 920 4,756
Net cashflow from investing activities 373 13,125
Dividend received 232 4,662
605 17,787
Net cash inflow/(outflow) for period (573) (10,102)
Cash balances at start of period
Cash and bank balances 66,278 74,882
66,278 74,882
Cash balances at end of period
Cash and bank balances 70,786 64,780
Bank overdrafts (5,081) -
65,705 64,780
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
PO Box 20172
Kitwe
Tel Numbers 260(02)245018
245054
245142
245126
245320
Fax Numbers 260(02)222638
222639
222640
E-mail:corporate@zccm-ih.com.zm
This information is provided by RNS
The company news service from the London Stock Exchange
END
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