Nine Months Results (7822E)
2011年4月13日 - 12:10AM
RNSを含む英国規制内ニュース (英語)
TIDMZCC
RNS Number : 7822E
ZCCM Invs.Hldgs PLC
12 April 2011
ZCCM Investments Holdings Plc
Incorporated in the Republic of Zambia
ZCCM INVESTMENTS HOLDINGS Plc
And its subsidiary
DIRECTORS' INTERIM SUMMARY
For the nine month period ended 30(th) September 2010
In compliance with the requirements of the "Securities Act, Cap
354 of the Laws of Zambia" and the Listing Rules of the Lusaka
Stock Exchange, ZCCM Investments Holdings Plc announces the
unaudited results for the nine month period ended 30 September
2010.
On 26(th) April, 2010 ZCCM-IH Plc divested 65% of the Maamba
Collieries Limited (MCL) shares to Nava Bharat Singapore (Pte) Ltd.
Consequently, only approximately four months have been consolidated
in the accounts to 30 September 2010.
The Group achieved a turnover of K252, 566 million during the
nine month period ended
30 September 2010 which was 82% above the turnover of K138, 978
million for the nine months to 30 September 2009.
This increase in turnover was mainly as a result of dividends of
K107, 580 million received during the period under review compared
to K29, 623 million for the nine months to September 2009. These
dividends include a special dividend paid out by Kansanshi Mining
Plc (KMP) of K86, 173 million ($18.1 million) for the years
2007-2009, interim dividends of K9, 349 million ($2 million) from
CEC, K9, 349 million ($1.9 million) from KMP and K2, 579 million
($528, 668 million) from NFC Africa.
In addition, Ndola Lime Company (NLC) turnover of K139, 314
million during the period ended 30 September 2010 was 39% above
that of K100, 238 million for the corresponding period to 30
September 2009 owing to an increase in exports to DRC during the
period, as well as an increase in selling price of Lime products as
of June 2010 to account for increase in the cost of production such
as fuel and electricity costs as well as inflation.
MCL turnover for the four months period from 1(st) January 2010
to 26(th) April 2010 which is included in the consolidation was K1,
566 million whilst a turnover of K4, 755 million was achieved
during the nine months to September 2009.
The cost of turnover for the group increased to K146, 661
million for the period to 30 September 2010 from K137, 920 million
for the corresponding period to September 2009. This was largely
due to an increase in NLC cost of sales of K32, 233 million
attributed to the use of the rotary kiln which uses twice the
amount of Heavy Fuel Oil as compared to the vertical kiln.
ZCCM-IH's cost of turnover reduced to K20, 134 million for the
period to 30 September 2010 from K28, 321 million for the period to
September 2009. This reduction is attributed to a change in the
provision of permanent employee benefits that was undertaken in the
period to 30 September 2009. MCL cost of turnover only accounts for
K15, 525 million for the period to 30 September 2010 compared to
K30, 831 million for the period to September 2009. However, K30,
831 relates to a nine months period where as K15, 525 relates to
approximately four months.
The Company's share of profit from associate companies for the
period 30 September 2010 is K500, 037 million compared to K125, 311
million for the period to 30 September 2009. The increase is as a
result of operational improvements by some associate companies and
the general increase in activity in the Mining industry.
The Group achieved an operating profit for the period under
review of K105, 905 million compared to K1, 058 million as at 30
September 2009. This was as a result of the increase in turnover
for this period. However, share of profits as well as the
depreciation of the Kwacha against the United States Dollar in the
period under review resulted in a retained profit of K545, 029
million compared to a profit of K103, 942 million for the period to
September 2009. The exchange movements were attributable to the
Kwacha depreciating against the US$ from K4, 651.88 as of 1st
January 2010 to K4, 850.00 as of 30 September 2010 resulting in an
exchange loss of K42, 776 million (after the translation of foreign
denominated liabilities) for the period to 30 September 2010
compared to an exchange loss of K1, 089 million for the period to
30 September 2009.
By Order of the Board
C Chabala
Company Secretary
25 March 2011
ZCCM INVESTMENTS HOLDINGS
PLC
GROUP PROFIT/( LOSS) ACCOUNT FOR THE NINE MONTHS ENDED 30
SEPTEMBER 2010
NINE MONTHS NINE MONTHS
ENDED ENDED
30 SEPTEMBER 30 SEPTEMBER
2010 2009
Consolidated Consolidated
K' million K' million
Turnover 252,566 138,978
Cost of turnover (146,661) (137,920)
Operating profit 105,905 1,058
Exchange (loss)/gain (42,776) (1,089)
Environmental expenses (12,074) (20,632)
Interest charge (6,023) (3,586)
Royalty on minerals (982) (2,485)
Other income 11,575 7,548
Associate Companies
Share of Profit 500,037 125,311
Profit before taxation 555,661 106,124
Income tax (10,633) (2,183)
Retained profit 545,029 103,942
This information is provided by RNS
The company news service from the London Stock Exchange
END
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