Quarterly Results to 30 Sept.
2002年2月12日 - 11:02PM
ＲＮＳを含む英国規制内ニュース （英語）
RNS Number:3155R
ZCCM Invs.Hldgs PLC
12 February 2002
Directors' Quarterly Summary
incorporating Financial Results
for the quarter ended 30 September 2001
ZCCM - IH Group sales during the quarter ended 30 September 2001, were K65 497
million compared to K58 382 million for the quarter ended 30 September 2000.
After accounting for operating expenses of K91 403 million, exchanges losses of
K6 918 million, interest charge of K9 706 million, royalties on metals of K295
million and income tax of K5 million less interest income of K1 528 million and
dividend received of K7 508 million, the Group incurred a net loss of K33 252
million in the quarter ended 30 September 2001. This compares with a net loss of
K4 065 million incurred in the quarter of ended 30 September 2000.
The Company's trade creditors continue to be paid through funds provided to the
Company by the Government of the Republic of Zambia (the Government). For the
quarter ended 30 September 2001, the Government provided K8 000 million which
enabled the Company to pay some pre-privatisation outstanding trade creditors up
to and including supplies made in March 2000. A total amount of K74 500 million
has been disbursed as at 30 September 2001 by the Government out of a commitment
of K207 000 million made in the calendar year 2001.
By Order of the Board
W S Musama, Acting Company Secretary
Lusaka,
18 January 2002
ZCCM INVESTMENTS HOLDINGS PLC
and its subsidiary companies
GROUP PROFIT/(LOSS) ACCOUNT FOR QUARTER ENDED 30 SEPTEMBER 2001
Quarter Ended Quarter Ended
30 Sept 2001 30 Sept 2000
Notes K Million K Million
Sales 1 65 497 58 382
Cost of sales 2 (91 403) (121 729)
Operating Loss (25 906) (63 347)
Other income 4 616 518
Exchange gain/(loss) (6 918) 62 699
Environmental expenses (4 074) (4 020)
Interest charge (9 706) 2 010
Interest income 1 528 171
Dividend receivable 7 508 -
Royalty on minerals (295) (290)
Loss before taxation (33 247) (2 259)
Income tax (5) (1 806)
Retained Loss (33 252) (4 065)
Notes:
1 & 2. Represents revenue/sales and administrative costs/cost of sales for the
Company and its subsidiary companies.
3. The increase represents purchase of fixed assets mainly by subsidiary
companies.
4. The increase mainly represents drawdowns by the holding Company for
environmental remedial expenditure as well as settlement of pre-March
2000 creditors.
5. The exchange rates applied are US$1=K3754 for September 2001 and
US$1=K3200 for September 2000 respectively.
GROUP BALANCE SHEET
As at As at
30 Sep 2001 30 Sep 2000
Notes K Million K Million
CURRENT ASSETS
Bank & cash 63 428 66 887
Other debtors 84 012 1 54 606
Metal debtors 92 289 24 529
Inventories 50 432 21 399
290 161 267 421
CURRENT LIABILITIES
Local Creditors 90 154 122 470
Overseas Creditors 17 172 14 570
Provisions 326 563 198 741
Taxation 864 1 754
Current portion of long term debt 0 1 240
Bank overdraft 1 874 8 282
436 627 347 057
Net current assets/(liabilities) (146 466) (79 636)
LONG TERM RECEIVABLES 311 591 278 050
INVESTMENTS 150 022 101 761
FIXED ASSETS 3 273 067 186 613
BORROWINGS 4 (1 439 082) (871 662)
GRANTS (5 742)
SUBORDINATED LOAN (865 445) (933 281)
Total Net Liabilities (1 722 055) (1 318 155)
Financed by:
Issued Share capital 893 893
Reserves (1 722 948) (1 319 048)
Total shareholders' funds (1 722 055) (1 318 155)
GROUP CASH FLOW STATEMENT
Quarter ended Quarter ended
30 Sept 2001 30 Sept 2000
K Million K Million
Operating activities
Cash received from customers 66 154 50 776
Cash paid to suppliers and employees (108 686) (113 420)
Net cash generated from operating
activities (42 532) (62 644)
Interest received 1 531 67
Interest paid 0 (93)
Taxation paid (559) (890)
Net cash outflow from operating activities (41 560) (63 560)
Investing activities
Purchase of fixed assets (37 889) (4 467)
Financing activities
Long term borrowings received 100 914 96 400
Dividend received 7 508 0
Net cash inflow for period 28 973 28 373
Cash balances at start of period
Cash and bank balances 32 753 64 909
Bank Overdrafts (172) (139)
32 581 64 770
Cash balances at end of period
Cash and bank balances 63 428 66 887
Bank overdrafts (1 874) (8 282)
61 554 58 605
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