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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Petmin | LSE:PTMN | London | Ordinary Share | ZAE000076014 | ORD ZAR0.25 (DI) |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 11.50 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From May 2019 to May 2024
TIDMPTMN
RNS Number : 1159Z
Petmin Limited
04 March 2013
Petmin Limited
(Incorporated in the Republic of South Africa)
(Registration number 1972/001062/06)
JSE code: PET AIM code: PTMN
ISIN: ZAE000076014
("Petmin" or "the Group")
Condensed Consolidated Interim Financial Statements
for the six months ended 31 December 2012
"Somkhele project on track to deliver increased production and revenues after experiencing a difficult
operating environment in the last quarter of CY 2012"
Salient features
- R161 million net cash flow generated by operations despite difficult conditions including:
- unusually high rainfall; and
- an unprotected strike by contractor employees
- Third plant at Somkhele commissioned in February 2013
- Extension to mining licence at Somkhele anthracite mine secured
- New banking facilities of R325 million secured
- Shareholding in NAIC increased to 22.5% as significant progress is made at the project
- Updated resource statement for NAIC confirms 594 million tonnes of sand grading at 9.53% heavy minerals
of which 37.46% is Fe2O3 equivalent
- Proceeds on sale of SamQuarz received
Hot Features
Premium
Condensed Consolidated Interim Income Statement
-------------------------------------------------------------------------------------------
for the six months ended 31 December 2012
-------------------------------------------------------------------------------------------
Reviewed Reviewed
-------------------------------------------------------------------------------------------
Six months Six months Audited
-------------------------------------------------------------------------------------------
ended ended Year ended
-------------------------------------------------------------------------------------------
31 December 31 December 30 June
-------------------------------------------------------------------------------------------
2012 2011 2012
-------------------------------------------------------------------------------------------
Note R'000 R'000 R'000
-------------------------------------------------------------------------------------------
Revenue 357 633 216 328 516 303
-------------------------------------------------------------------------------------------
Cost of sales (292 949) (165 367) (360 461)
-------------------------------------------------------------------------------------------
Gross profit 64 684 50 961 155 842
-------------------------------------------------------------------------------------------
Operating income 1 854 17 968 6 532
-------------------------------------------------------------------------------------------
Administration expenses (12 349) (12 635) (20 611)
-------------------------------------------------------------------------------------------
Results from operating activities 54 189 56 294 141 763
-------------------------------------------------------------------------------------------
- Mark to market of listed securities (2 003) (2 396) (20 234)
-------------------------------------------------------------------------------------------
Net finance (expense)/income (7 109) 173 (6 988)
-------------------------------------------------------------------------------------------
- Finance income 1 918 1 926 2 936
-------------------------------------------------------------------------------------------
- Finance expenses (9 027) (1 753) (9 924)
-------------------------------------------------------------------------------------------
Separately disclosed items:
-------------------------------------------------------------------------------------------
Impairment loss on exploration asset - - (18 841)
-------------------------------------------------------------------------------------------
Fair-value gain on investment in jointly - - 3 404
controlled entity
-------------------------------------------------------------------------------------------
Share of losses of equity accounted investees (655) - (1 707)
-------------------------------------------------------------------------------------------
Profit before income tax 44 422 54 071 97 397
-------------------------------------------------------------------------------------------
Income tax expense (14 291) (18 428) (41 377)
-------------------------------------------------------------------------------------------
Profit for the period from continuing operations 30 131 35 643 56 020
-------------------------------------------------------------------------------------------
Profit for the period from discontinuing operations - 11 380 38 517
(net of income tax)
-------------------------------------------------------------------------------------------
Profit on sale of subsidiary - - 18 145
-------------------------------------------------------------------------------------------
Profit for the period 30 131 47 023 112 682
-------------------------------------------------------------------------------------------
Earnings per share
-------------------------------------------------------------------------------------------
Basic earnings per ordinary share (cents) 6 5.22 8.15 19.53
-------------------------------------------------------------------------------------------
Diluted earnings per ordinary share (cents) 6 5.22 8.01 19.24
-------------------------------------------------------------------------------------------
Earnings per share from continuing operations
-------------------------------------------------------------------------------------------
Basic earnings per ordinary share (cents) 6 5.22 6.18 9.71
-------------------------------------------------------------------------------------------
Diluted earnings per ordinary share (cents) 6 5.22 6.07 9.56
-------------------------------------------------------------------------------------------
Condensed Consolidated Interim Statement of Comprehensive Income
-------------------------------------------------------------------------------------------------
for the six months ended 31 December 2012
-------------------------------------------------------------------------------------------------
Reviewed Reviewed
-------------------------------------------------------------------------------------------------
Six months Six months Audited
-------------------------------------------------------------------------------------------------
ended ended Year ended
-------------------------------------------------------------------------------------------------
31 December 31 December 30 June
-------------------------------------------------------------------------------------------------
2012 2011 2012
-------------------------------------------------------------------------------------------------
R'000 R'000 R'000
-------------------------------------------------------------------------------------------------
Profit for the period 30 131 47 023 112 682
-------------------------------------------------------------------------------------------------
Other comprehensive income
-------------------------------------------------------------------------------------------------
Foreign currency translation differences 2 111 3 243 3 877
-------------------------------------------------------------------------------------------------
Effective portion of changes in fair value of cash flow hedges - (4 370)
-
-------------------------------------------------------------------------------------------------
Other comprehensive income for the period, net of income tax 2 111 (1 127)
3 877
-------------------------------------------------------------------------------------------------
Total comprehensive income for the period 32 242 45 896 116 559
-------------------------------------------------------------------------------------------------
Condensed Consolidated Interim Statement of Financial Position
--------------------------------------------------------------------------------------------------
at 31 December 2012
--------------------------------------------------------------------------------------------------
Reviewed Reviewed
--------------------------------------------------------------------------------------------------
Six months Six months Audited
--------------------------------------------------------------------------------------------------
ended ended Year ended
--------------------------------------------------------------------------------------------------
31 December 31 December 30 June
--------------------------------------------------------------------------------------------------
2012 2011 2012
--------------------------------------------------------------------------------------------------
R'000 R'000 R'000
--------------------------------------------------------------------------------------------------
ASSETS
--------------------------------------------------------------------------------------------------
Non-current assets 1 765 402 1 362 551 1 541 541
--------------------------------------------------------------------------------------------------
Property, plant and equipment 1 265 868 860 612 1 042 840
--------------------------------------------------------------------------------------------------
Intangible assets - 629 -
--------------------------------------------------------------------------------------------------
Investment in equity accounted investee 468 757 470 145 468 757
--------------------------------------------------------------------------------------------------
Investments 30 777 31 165 29 944
--------------------------------------------------------------------------------------------------
Current assets 239 563 468 466 494 701
--------------------------------------------------------------------------------------------------
Inventories 86 661 29 642 100 312
--------------------------------------------------------------------------------------------------
Trade and other receivables 146 207 101 934 111 741
--------------------------------------------------------------------------------------------------
Receivable on sale of subsidiary 1 158 - 281 064
--------------------------------------------------------------------------------------------------
Current tax assets 2 772 4655 -
--------------------------------------------------------------------------------------------------
Cash and cash equivalents 2 765 26 524 1 584
--------------------------------------------------------------------------------------------------
Assets classified as held for sale - 305711 -
--------------------------------------------------------------------------------------------------
Total assets 2 004 965 1 831 017 2036 242
--------------------------------------------------------------------------------------------------
EQUITY AND LIABILITIES
--------------------------------------------------------------------------------------------------
Ordinary share capital and reserves 1 409 952 1 334 995 1 405188
--------------------------------------------------------------------------------------------------
Share capital 143 589 143 763 143 763
--------------------------------------------------------------------------------------------------
Share premium 332 759 334 105 334 104
--------------------------------------------------------------------------------------------------
Share option reserve 6 303 3 978 3 508
--------------------------------------------------------------------------------------------------
Hedging reserve - (4 370) -
--------------------------------------------------------------------------------------------------
Foreign currency translation reserve 5 669 2 924 3 558
--------------------------------------------------------------------------------------------------
Retained earnings 921 632 854 595 920 255
--------------------------------------------------------------------------------------------------
Non-current liabilities 391 600 260 422 262 502
--------------------------------------------------------------------------------------------------
Interest-bearing loans and borrowings 183 553 90 048 68 074
--------------------------------------------------------------------------------------------------
Deferred taxation liabilities 184 727 149 525 172 233
--------------------------------------------------------------------------------------------------
Environmental rehabilitation provision 23 320 20 849 22 195
--------------------------------------------------------------------------------------------------
Current liabilities 203 413 235 600 368 552
--------------------------------------------------------------------------------------------------
Trade and other payables 135 054 97 697 157 968
--------------------------------------------------------------------------------------------------
Current portion of interest-bearing loans and borrowings 35 799 23 466
59 590
--------------------------------------------------------------------------------------------------
Current tax liabilities - - 34 816
--------------------------------------------------------------------------------------------------
Shareholders for dividend 1 366 1 419 1 287
--------------------------------------------------------------------------------------------------
Bank overdraft 31 194 - 114 891
--------------------------------------------------------------------------------------------------
Liabilities classified as held for sale - 113018 -
--------------------------------------------------------------------------------------------------
Total equity and liabilities 2 004 965 1 831 017 2036242
--------------------------------------------------------------------------------------------------
Condensed Consolidated Interim Statement of Cash Flows
------------------------------------------------------------------------------------------------------
for the six months ended 31 December 2012
------------------------------------------------------------------------------------------------------
Reviewed Reveiwed
------------------------------------------------------------------------------------------------------
Six months Sixmonths Audited
------------------------------------------------------------------------------------------------------
ended ended Year ended
------------------------------------------------------------------------------------------------------
31 December 31 December 30 June
------------------------------------------------------------------------------------------------------
2012 2011 2012
------------------------------------------------------------------------------------------------------
Note R'000 R'000 R'000
------------------------------------------------------------------------------------------------------
Profit from operations before finance (expense)/income 54 189 72 089 193865
------------------------------------------------------------------------------------------------------
Adjustments for:
------------------------------------------------------------------------------------------------------
- depreciation and amortisation 154 185 110 605 261 041
------------------------------------------------------------------------------------------------------
- fair value of derivatives included in payables/receivables - (4 370) -
------------------------------------------------------------------------------------------------------
- impairment charges - 2715 -
------------------------------------------------------------------------------------------------------
- notional interest 1 125 1 421 3 014
------------------------------------------------------------------------------------------------------
- (profit)/loss on disposal of property, plant and equipment - - (17)
------------------------------------------------------------------------------------------------------
- management share options granted 2 795 1 269 962
------------------------------------------------------------------------------------------------------
Operating cash flows before changes in working capital 212 294 183 729 458
865
------------------------------------------------------------------------------------------------------
(Increase)/Decrease in trade and other receivables (35 783) 18 872 12 453
------------------------------------------------------------------------------------------------------
Decrease in current receivable on sale of subsidiary 279 906 - -
------------------------------------------------------------------------------------------------------
Decrease/(Increase) in inventories 13 651 (12 167) (88 760)
------------------------------------------------------------------------------------------------------
(Decrease)/Increase in trade and other payables (22 463) 8 877 66 781
------------------------------------------------------------------------------------------------------
Cash generated by operations 447 605 199 311 449 339
------------------------------------------------------------------------------------------------------
Income tax refunded/(paid) (37 588) 782 1 425
------------------------------------------------------------------------------------------------------
Finance income 1 918 2 054 4 010
------------------------------------------------------------------------------------------------------
Finance expenses (9 027) (1 870) (10958)
------------------------------------------------------------------------------------------------------
Net cash flow from operating activities 402 908 200 277 443 816
------------------------------------------------------------------------------------------------------
Cash flows from investing activities
------------------------------------------------------------------------------------------------------
Investment in jointly controlled entities (28 692) (22 964) (45716)
------------------------------------------------------------------------------------------------------
Investment in listed shares (2 836) - (16 616)
------------------------------------------------------------------------------------------------------
Acquisition of property, plant and equipment (347 906) (339 417) (688548)
------------------------------------------------------------------------------------------------------
- to expand operations (90 163) (173 587) (270707)
------------------------------------------------------------------------------------------------------
- to expand operations - capitalised pre-strip 8 (256 416) (159 313)(405558)
------------------------------------------------------------------------------------------------------
- to maintain operations (1 327) 6 517) (12 283)
------------------------------------------------------------------------------------------------------
Proceeds on sale of subsidiary, net of cash disposed - - (23 889)
------------------------------------------------------------------------------------------------------
Proceeds from sale of property, plant and equipment - - 24
------------------------------------------------------------------------------------------------------
Net cash flows used in investing activities (379 434) (362 381 (774 745)
------------------------------------------------------------------------------------------------------
Cash flows from financing activities
------------------------------------------------------------------------------------------------------
Proceeds from specific and general share issues for cash during the period
- 3 335 3 331
------------------------------------------------------------------------------------------------------
Treasury shares acquired (1 518) (9 590) (9 590)
------------------------------------------------------------------------------------------------------
Payment on options forfeited - - (160)
------------------------------------------------------------------------------------------------------
Repayment of borrowings (58 312) (11 987) (29189)
------------------------------------------------------------------------------------------------------
Increase in borrowings 150 000 2 139 6 984
------------------------------------------------------------------------------------------------------
Dividends paid (28 766) (22 654) (22785)
------------------------------------------------------------------------------------------------------
Net cash flows from financing activities 61 404 (38 757) (51 409)
------------------------------------------------------------------------------------------------------
Net increase/(decrease) in cash and cash equivalents 84 878 (200 861)(382338)
------------------------------------------------------------------------------------------------------
Cash and cash equivalents at beginning of period (113 307) 269 031 269 031
------------------------------------------------------------------------------------------------------
Cash and cash equivalents at end of period (28 429) 68 170 (113307)
------------------------------------------------------------------------------------------------------
Transferred to assets held for sale - (41646) -
------------------------------------------------------------------------------------------------------
Cash and cash equivalents at end of the period - continuing operations (28
429) 26 524 (113307)
------------------------------------------------------------------------------------------------------
Condensed Consolidated Interim Statement of Changes in Equity
----------------------------------------------------------------------------------
for the six months ended 31 December 2012
----------------------------------------------------------------------------------
Foreign
----------------------------------------------------------------------------------
Share currency
----------------------------------------------------------------------------------
Share Share option translation Retained
----------------------------------------------------------------------------------
capital premium reserve reserve earnings Total
----------------------------------------------------------------------------------
GROUP R'000 R'000 R'000 R'000 R'000 R'000
----------------------------------------------------------------------------------
Balance at 30 June 2011 143 398 337 807 5 627 (319) 830 649 1 317 162
----------------------------------------------------------------------------------
Total comprehensive income - - - 3877 112 682 116 559
for the period
----------------------------------------------------------------------------------
Profit for the period - - - - 112 682 112 682
----------------------------------------------------------------------------------
Foreign currency translation - - - 3 877 - 3 877
differences
----------------------------------------------------------------------------------
Transactions with owners, 365 (3 703) (2 119) - (23 076) (28 533)recorded
directly in equity
----------------------------------------------------------------------------------
Shares issued during the period
----------------------------------------------------------------------------------
- Share options exercised 1 281 4 971 (2 921) - - 3 331
----------------------------------------------------------------------------------
Share options forfeited during - - (160) - - (160)
the period
----------------------------------------------------------------------------------
Treasury shares acquired during (916) (8 674) - - - (9 590)
the period
----------------------------------------------------------------------------------
Share options granted - - 962 - - 962
----------------------------------------------------------------------------------
Dividend paid - - - - (23 076) (23 076)
----------------------------------------------------------------------------------
Balance at 30 June 2012 143 763 334 104 3 508 3 558 920 255 1 405 188
----------------------------------------------------------------------------------
Total comprehensive income for - - - 2 111 30 131 32 242
the period
----------------------------------------------------------------------------------
Profit for the period - - - - 30 131 30 131
----------------------------------------------------------------------------------
Foreign currency translation - - - 2 111 - 2 111 differences
----------------------------------------------------------------------------------
Transactions with owners, (174) (1 345) 2 795 - (28 754) (27 478) recorded
directly in equity
----------------------------------------------------------------------------------
Treasury shares acquired during (174) (1 345) - - - (1 519)
the period
----------------------------------------------------------------------------------
Share options granted - - 2 795 - - 2 795
----------------------------------------------------------------------------------
Dividend paid - - - - (28 754) (28 754)
----------------------------------------------------------------------------------
Balance at 31 December 2012 143 589 332 759 6 303 5 669 921 632 1 409 952
----------------------------------------------------------------------------------
Segment reporting
Segment information is presented in the condensed consolidated interim financial statements in respect of the Group's segments.
The segment reporting format reflects the Group's management and internal reporting structure as reviewed by the chief operating
decision-makers.
Segment revenue represents revenue from external customers. There was no intersegment revenue.
Segment results include items directly attributable to a segment as well as those that can be allocated on a reasonable basis.
Reportable segments
The Group comprises the following main reportable segments:
- Silica mining and marketing ("Silica") - Discontinued operation, sold on 29 June 2012;
- Anthracite mining and marketing ("Anthracite"); and
- Business of Tomorrow, which includes Petmin's exploration and development projects.
Click on, or paste the following link into your web browser, to view the associated PDF document.
http://www.rns-pdf.londonstockexchange.com/rns/1159Z_1-2013-3-4.pdf
This information is provided by RNS
The company news service from the London Stock Exchange
END
IR NKQDPABKKPNK
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