1st Quarter Results
2004年12月23日 - 10:44PM
ＲＮＳを含む英国規制内ニュース （英語）
RNS Number:7803G
ZCCM Invs.Hldgs PLC
23 December 2004
ZCCM Investments Holdings Plc
Incorporated in the Republic of Zambia
Directors' Quarterly Summary
incorporating Financial Results
for the quarter ended 30 September 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
ZCCM INVESTMENTS HOLDINGS Plc
and its subsidiary companies
DIRECTORS' QUARTERLY SUMMARY
During the quarter ended 30 September 2004 ZCCM-IH group sales increased to
K33,422 million compared to K29,000 million in the corresponding quarter last
year. Group operational expenditure was K33,697 million which was a reduction
from last year's K33,992 million.
A retained loss of K6,990 million was recorded in the quarter under review,
compared to a profit of K22,007 million in the quarter ended 30 September 2003.
The main source of loss was the exchange losses amounting to K13,387 million,
compared to a gain of K16,502 million in the quarter ended 30 September 2003.
Subsequent to quarter end, Vedanta Resources acquired 51% shareholding in
Konkola Copper Mines Plc.
By Order of the Board
W S Musama
Company Secretary
Lusaka
10 December 2004
ZCCM INVESTMENTS HOLDINGS PLC
GROUP PROFIT/( LOSS) ACCOUNT FOR THE QUARTER ENDED 30 SEPTEMBER 2004
QUARTER ENDED QUARTER ENDED
30 SEPT '04 30 SEPT '03
notes K' million K' million
Sales 1 33,422 29,000
Cost of sales 2 (33,697) (33,992)
Operating profit/(loss) (275) (4,992)
Other income 6,731 7,863
Exchange gain/ 3 (13,387) 16,502
(loss)
Environmental expenses (2,348) (258)
Impairment of Investments -
Impairment of Investments
Interest reversal/(charge) (199) (8)
Interest income 366 2,367
Dividend receivable 4,345 3,403
Royalty on minerals (464) (438)
Profit/(loss) before taxation (5,231) 24,439
Income tax (1,759) (2,432)
Retained profit/(loss) (6,990) 22,007
Notes:
1 & 2 Represents revenue /sales and administrative costs/cost
of sales for the
Company and its subsidiaries.
3 The exchange rates applied are :
September :US$=K4,923.33
2004
September :US$=K4,778.61
2003
ZCCM INVESTMENTS HOLDINGS PLC
GROUP BALANCE SHEET As at 30 Sept '04 As at 30 Sept '03
K' million K' million
Current assets
Bank & cash 63,143 51,585
Inventories 14,506 36,596
Metal debtors 8,478 0
Other debtors 321,729 273,991
------------ ------------
Total current assets 407,856 362,172
Current liabilities
Creditors
local 44,421 56,128
Overseas 0 0
Provisions 287,675 321,232
0
Taxation 3,421 6,118
Bank overdraft 0 1
------------ ------------
Total current liabilities 335,517 383,479
Net current assets/(liabilities) 72,339 (21,307)
Long term receivables 83,372 109,908
Investments 450,356 449,409
Fixed assets 83,486 46,201
Long term borrowings (1,385,858) (1,300,775)
Grants/others (16,065) (11,102)
Subordinated loan (865,445) (865,445)
------------ ------------
Total Net Liabilities (1,577,815) (1,593,111)
------------ ------------
Financed by:
Share capital 909 909
Reserves (1,578,724) (1,594,020)
------------ ------------
Total shareholders' funds (1,577,815) (1,593,111)
------------ ------------
ZCCM INVESTMENTS HOLDINGS PLC
GROUP CASH FLOW STATEMENT
Quarter ended Quarter ended
30 Sept '04 30 Sept '03
K' million K' million
Operating activities
Cash received from customers 31016 4787
Cash paid to suppliers and employees -24827 -31955
Net cash generated from operating activities 6189 -27168
Interest received 514 2367
Interest paid -243 8
Taxation paid -424 -1798
-153 577
Net cashflow from operating activities 6036 -26591
Investing activities
Purchase of fixed assets -6849 -5850
Proceeds from sale of fixed assets 0 0
Proceeds from sale of operating units 438 3349
-6411 -2501
Financing activitie
Long term borrowings received 2913 3372
Long term borrowing paid -387 0
Short term borrowings received 0 0
Short term borrowings paid 0
Grants 9237 1063
Net cashflow from investing activities 11762 4435
Dividend received 4345 3403
16107 7838
Net cash inflow/(outflow) for period 15732 -21254
Cash balances at start of period
Cash and bank balances 47410 58046
Bank overdrafts 0 -10
47410 58036
Cash balances at end of period
Cash and bank balances 63143 49822
Bank overdrafts 0 0
63143 49822
CORPORATE LOCATIONS
Registered Office UK
Registrars
Mukuba Pension House CAPITA IRG plc
First Floor 34 Beckenham Road
5309 Dedan Kimathi Road Beckenham
P O Box 30048 KENT BR3 4TU
LUSAKA Zambia England
Tel Numbers 260 (01) 221023 Tel No. 020 8 639 2000
220351 Fax No. 0202 8 639 3430
220651
228833 Depository for American
Fax Numbers 260 (01) 221057 Shares
220449 J P Morgan Chase & Co
220727 60 Wall Street
New York, NY 10200-0060
E-mail:corporate@zccm-ih.com.zm United States of America
Tel 001 212 648 3207
Fax 001 212 648 5104
Kitwe Office
Investments House
Kantanta Street
P O Box 20172
Kitwe
Tel Numbers 260 (02) 245018 Technical
245025 Environment
245142 Legal
245126 Property
Fax Numbers 260 (02) 245363
245364
245473
E-mail:corporate@zccm-ih.com.zm
7
This information is provided by RNS
The company news service from the London Stock Exchange
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