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Name | Symbol | Market | Type |
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Hsbc Bk.22 | LSE:49IA | London | Medium Term Loan |
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RNS No 9274m PACIFIC DUNLOP LTD 12th February 1998 PART 1 PACIFIC DUNLOP HALF YEAR RESULTS TO 31 DECEMBER 1997 - Profit attributable to shareholders after tax and abnormals up 7% to $90.1 million. - Total sales up 3.8% to $3.1 billion. - Sales by continuing businesses up 5.4% to $3.0 billion. - Earnings per share up 6.0% to 8.8 cents. - Unchanged interim dividend of 7.0 cents. PACIFIC DUNLOP REPORTS $90.1 MILLION HALF YEAR PROFIT Results Summary Pacific Dunlop today reported a profit attributable to shareholders before abnormals of $90.1 million for the six months ended 31 December 1997. This is a 7% increase on the previous corresponding period's $84.5 million profit. There were no abnormal items. Sales by continuing businesses were $3.0 billion, an increase of 5.4%. Earnings per share were 8.8 cents compared with 8.3 cents in the same period last year. Directors have declared an interim dividend of 7.0 cents a share, franked to 60%, representing an unchanged interim dividend. The dividend will be paid on 1 July 1998 to shareholders registered on 10 June 1998. Net interest bearing debt to shareholders' equity increased from 63% to 70%, due entirely to the weaker Australian dollar against the U.S. dollar. Interest cover of 3.6 times was slightly less than the 3.8 times in the previous corresponding period, while the average interest cost decreased from 7.0% to 6.6% per annum. Chairman's Comment In commenting on the results, the Chairman of Pacific Dunlop, Mr John Ralph, said: "Ansell's performance was pleasing with the operating profit increasing 26% over the previous corresponding half. This Division continues to strengthen its position in the world protective products market with its most recent acquisition, Ansell Golden Needles in the U.S., generating increased profitability. "GNB Technologies' result has improved, particularly in the industrial battery division, but the U.S. market for automotive batteries remains very competitive. "Pacific Brands' operating profit was steady, while SPT was 13% lower. The Australian tyre market remains subdued with replacement tyre demand having declined as sales of new passenger vehicles increased. Imports of passenger tyres, particularly from low labour cost countries, have increased compared with the same period last year. "The results of Cables Group and Pacific Distribution were disappointing. "The fall in profit from the Cables Group was due mainly to a sharp reduction in telecommunications cable demand, the suspension of the pay TV rollout, reduced exports and lower returns from the Indonesian business. These combined to produce a reduction of $15 million in profit before interest and tax from Cables. "Pacific Distribution's lower result came after absorbing the roll-out costs of its Repco Super Store program which has an increased focus on the growing Do- It-Yourself market. The new stores are still in their formative stage and are expected to bring improved returns in the future. The electrical wholesaling businesses were adversely affected by falling demand in the mining and major project areas." Outlook "The economic and financial difficulties which surfaced in a number of Asian countries in the last quarter have had some effect on results for the first half. In some business groups, the currency impact relative to the Australian dollar has been favourable with Ansell particularly benefiting from lower export costs from its Asian manufacturing facilities. This is being partly offset by reduced cable orders in Indonesia and a fall in industrial battery sales in the region. "The full impact of Asia's continuing financial turbulence remains difficult to assess. However, increased competition in Australia can be anticipated from lower-cost imports from these countries and Australian exports will be more difficult to secure. Indirect effects are also beginning to be felt by some of our Australian customers, particularly in the mining and major projects sectors, which is affecting demand for some of our products. The offset is the lower cost of production from the Company's Asian factories for product destined for export. "The Company expects full year results to be ahead of last year, however all business groups expect the current difficult and uncertain conditions to continue in the second half." Board Retirements "Mr Ian Burgess will retire from the Board of Pacific Dunlop at the end of its meeting on February 12, 1998, and Mr Graham Spurling will retire as an Executive and a Director of the Company at the end of March. "Having accepted an invitation to become Chairman of WMC Holdings - in addition to being Chairman of the soon-to-be demutualised AMP Society and CSR - Mr Burgess informed his colleagues that he has decided to reduce other commitments including his directorship of Pacific Duniop. His counsel and his contribution over the past five years has been highly valued. "Mr Spurling will be retiring from the Company at the end of next month. During his career with the Company Mr Spurling accepted the challenge of establishing the Company, through GNB Technologies, as a major player in the international battery business. He has lived and worked in the USA for more than 10 years, where he has represented Pacific Dunlop admirably and built a strong and energetic management team. For the past two years he has overseen the development of a blueprint for the rationalisation and restructure of Pacific Dunlop's 150 world wide manufacturing facilities. Mr Spurling has been a sterling contributor and his board colleagues wish him well in his retirement." Business Review and Strategy 2001 Program The Managing Director, Mr Rod Chadwick, made the following comments: "The previously announced Strategy 2001 program aimed at revitalising the company and delivering a strategy for the future direction of each business is nearing completion. "Some of Pacific Dunlop's existing businesses are in industries or markets where long-term growth opportunities are likely to be limited unless changes can be made to those businesses. The review is defining the changes we need to make and the capacity of each division to make those changes successfully. This will lead to further divestment of non-core or underperforming businesses. "Ansell has been identified as the principal growth vehicle for the company. To that end, we are expecting to commit $150 million in the current half on acquisitions and capital expenditure to add capacity and range across Ansell's key product categories and on geographic expansion." "The Ansell strategy has three major thrusts: - Aggressive development of the powder free medical glove market through conversion of existing capacity; - Aggressive pursuit of the world market for critical environment gloves through further manufacturing investment; and - Acceleration of Ansell's program to be the lowest cost producer across its entire product range. "Elsewhere across the group, improvements undertaken are beginning to yield positive results, including significant cost reductions and more effective sourcing." Telectronics Since the end of the last financial year, the Federal Court in Cincinnati, having already certified a class against the former Telectronies defendants, further certified a class against Pacific Dunlop Limited and Nucleus Limited to resolve whether Pacific Dunlop Limited or Nucleus Limited is vicariously liable for the conduct of the former Telectronics defendants. As with the April 1997 recertification of a class against the former Telectronics defendants, this is a procedural step only, and has no bearing on potential liability. No date has yet been set for the class Trial. Notices have now been sent to class members in the Australian class action, but as yet, discovery has not commenced in this matter, and no trial date has been set. For the past three years all parties in the United States have been engaged in an intensive period of discovery and depositions. This period is now drawing to a close, and it is expected that over the next year, a number of the individual cases that remain in the State court system in the United States may come to trial. All these cases will be vigorously defended, but, given the vagaries of the American jury system, no prediction can be accurately made as to the outcome of these matters, certainly at first instance. It is the case, however, that because of the individual nature of each plaintiffs case, and the differences between laws in the various States of the United States where these matters remain in State courts, the outcome of each trial should not create a binding precedent to be followed by subsequent cases in other States' jurisdictions. It is also not expected that the outcome of any of the trials would create a binding precedent on the Federal Court in Cincinnati with regard to a class trial (should a trial proceed). As we announced in October, a settlement was reached by the insurers of all outstanding Accufix litigation in Canada, This was done without admission of liability, and without creating any precedent in the United States or elsewhere in the world where there is still ongoing litigation. The Canadian settlement reflected the particular situation in that country where people who have suffered no injury and their families can still sustain a claim for damages. Telectronics' strategic aim is to manage the litigation according to the prevailing laws in each jurisdiction in the most cost efficient manner. Share Certificate Issuer Sponsorship In accordance with the initiatives being taken by the Australian Stock Exchange to introduce a three day settlement period later this year, the company's share register will become fully uncertificated as from 30 April 1998. A letter is being sent to all shareholders informing them of this decision. BUSINESS GROUP SUMMARIES Ansell International 1997 1996 Change $M $M % Operating Revenue 508 404 26 operating Profit 68 54 26 Profit Margin 13.4% 13.4% Assets Employed 769 677 14 The Ansell group, which is now based in New Jersey in the United States, increased earnings over the previous corresponding half by 26%. The increase in profitability was characterised by strong growth in markets for protective products, where Ansell Golden Needles contributed very positively to results in its first full six-month period since acquisition. Demand for powder-free gloves continued to grow, and additional capacity is being installed to meet requirements. Excellent response to the new range of nitrilite gloves for the rapidly-growing critical environment segment is also requiring additional production capacity. Consistent with the aim to grow the overall business, Ansell is currently pursuing acquisitions totalling $100 million, adding capacity and range across its product categories. Additional capital expenditure of more than $50 million has also been allocated to current facilities to increase capacity in key product areas and continue Ansell's impressive product innovation record. GNB Technologies 1997 1996 Change $M $M % Operating Revenue 623 565 10 Operating Profit 25 2 1,150 Profit Margin 4.0% 0.4% Assets Employed 1,025 863 19 Sales and earnings were well ahead of the previous year's first half, even before allowing for the $12 million fixed asset writedown made in the December 1996 half. The improvement came mainly from continued growth in world markets for telecommunications and industrial batteries, a better performance from smelting and lower lead prices. Production at the Columbus lead smelter is on track to achieve its target for the full year, although still below rated capacity. The depreciation of the Australian dollar against the U.S. dollar increased the translated value of sales and assets employed. Production capacity for GNB's new Marathon and Sprinter batteries is being expanded to meet increased global demand for telecom and power control applications. The European market shows good growth potential with higher sales likely to offset a downturn in some Asian markets expected during the second half. GNB has increased its automotive battery market share slightly in the US in a soft market and generated improved returns over the prior year in a difficult environment. The full year result for GNB Technologies is expected to exceed last year but the second half will not be as strong as in the previous corresponding period due to intense competition and heavy margin pressure in the U.S. automotive battery market. South Pacific Tyres 1997 1996 Change $M $M % Operating Revenue 528 544 (3) Operating Profit 40 46 (13) Profit Margin 7.6% 8.5% Assets Employed 654 673 (3) Results were below the same period last year as trading conditions became more difficult. Replacement tyre demand declined as sales of new passenger vehicles increased. During the period, the total Australian market for replacement passenger tyres dropped by an estimated 3% percent. The market for original equipment tyres was also lower due to the increased number of imported new cars. Exports to the United States and the UK were strong in the six month period and with new contracts signed, are expected to increase in the second half. Cables & Engineered Products 1997 1996 Change $M $M % Operating Revenue 254 251 1 Operating Profit 21 36 (42) Profit Margin 8.3% 14.3% Assets Employed 435 450 (3) Compared with previous years, the Cables and Engineered Products group recorded a substantially reduced result. This was due mainly to the fall-off in exported optical fibre cable and reduced demand for hardline co-axial cable used in the Pay TV roll-out. The result was adversely impacted by the performance in Indonesia, where the metallic telephone cable business (owned 60%) experienced continued delays in orders as well as pricing difficulties in the uncertain economic environment. The Energy Division enjoyed increased sales and was successful in winning two further electricity supply tenders amounting to more than $20 million over five years. Activity in the building and construction industry was fairly flat in the early months but showed some improvement late in the half. Pacific Brands 1997 1996 Change $M $M % Operating Revenue 637 639 - Operating Profit 59 58 2 Profit Margin 9.3% 9.1% Assets Employed 650 685 (5) Pacific Brands achieved a small increase in profit through better asset management and slightly improved margins on steady sales. Conditions in Australia's retail clothing, footwear, sporting goods and household products markets continued to be uneven. Christmas trading showed some improvement over 1996. Clothing operations benefited from earlier manufacturing restructuring and brand repositioning. The footwear division was up on last year. The sporting goods division had a successful half during which the Dunlop Brand was relaunched. Household products had a reasonable six months with the bedding and foams businesses performing well. As part of further rationalisation, a long-term golf ball supply contract was signed with Dunlop Slazenger International, leading to the closure in November of the group's golf ball manufacturing plant in NSW. Berlei's Lithgow plant was also closed during the first half. Pacific Distribution 1997 1996 Change $m $m % Operating Revenue 743 758 (2) Operating Profit 29 40 (28) Profit Margin 3.9% 5.3% Assets Employed 577 582 (1) Pacific Distribution had a disappointing result. Activity remained flat in the Australian electrical and automotive markets, affecting most areas of the business. The replacement car part market was adversely impacted by the dramatic increase in the number of competitively-priced new imported cars, many offering extended warranties. Start-up costs incurred by Repco as a result of the new stores roll-out, which were expensed, also negatively impacted the half-year profit result. The 29 newly formatted Repco Stores opened to date have traded much as expected. The schedule of store openings is anticipated to be maintained in the second half. A significant reduction in mining and other major projects together with costs associated with the commissioning of a new warehouse, detrimentally impacted the results of the electrical distribution business. Restructuring of the New Zealand operations has been largely completed, although conditions in both the electrical and auto markets continue to be difficult in that country. Appendix 4B (equity accounted) Half yearly $A'000 Sales (or equivalent operating) revenue (item 1.1) up 3.8% to 3,053,969 Abnormal items after tax attrbutable to members (item2.5) gain/(loss) of - +Operating profit (loss) after tax (before amortisation of goodwill) up 5.9% to 105,152 attributable to members (item 1.26) +Operating profit (loss) after tax attributable to members(item 1.10) up 6.7% to 90,074 Extraordinary items after tax attributable to members (item 1.13)gain/(loss) of - +Operating profit (loss) and extraordinary items after tax up 6.7% to 90,074 attributable to members (item 1.16) Dividends (distributions) Amount per security Franked amount per security at 36% tax Final dividend (preliminary final report only - item 15.4) Interim dividend (half yearly report only - item 15.6) 7.0 cents 4.2 cents Previous corresponding period (preliminary final report - item 15.5; half yearly report - item 15.7) 7.0 cents 4.2 cents +Record date for determing entitlements to the dividend, (in the case of a trust, distribution) (see item 15.2) 10th June 1998 Brief explanation of omission of directinal and percentage changes to profit in accordance with Note 1 and short details of any bonus or cash issue or other item(s) of importance not previously released to market: Appendix 4B (equity Accounted)Half yearly Consolidated profit and loss account Current Period Previous corresponding $A'000 period $A'000 1.1 Sales (or equivalent operating) revenue 3,053,969 2,941,573 1.2 Share of associated "net profit (loss) attributable to members" (equal to item 16.7) 1,825 - 1.3 Other revenue 56,528 229,045 1.4 +Operating profit(loss) before abnormal items and tax 113,761 128,351 1.7 Less tax 27,477 39,419 1.8 +Operating profit (loss) after tax but before outside +equity interests 86,284 88,932 1.9 Less outside +equity interests (3,790) 4,475 1.10 +Operating profit(loss) after tax attributable to members 90,074 84,457 1.11Extraordinary items after tax (detail in item 2.6) - - 1.12Less outside +equity interests - - 1.13Extraordnary items after tax attributable to members - - 1.14Total +Operating profit (loss) and extraordinary items after tax (items 1.8 + 1.11) 86,284 88,932 1.15+Operating profit (loss) and extraordinary items after tax attributable to outside +equity interests (items 1.9 + 1.2) (3,790) 4,475 1.16+Operating profit(loss) and extraordinary items after tax attributable to members (items 1.10 + 1.13) 90,074 84,457 1.17Retained profit (accumulated losses) at beginning of financial period 116,121 (257,622) 1.18Adjustment to retained profits at the beginning of the financial year due to the initial adoption of revised Accounting Standard AASB 1016 Accounting for Investments in Associates (23,544) - 1.19Aggregate of amounts transferred from reserves - 340,208 1.20Total available for appropriation 182,651 167,043 1.21Dividends provided for or paid 72,089 71,841 1.22Aggregate of amounts transferred to reserves - - 1.23Retained profits (accumulated losses) at end of financial period 110,562 95,202 Profit restated to exclude amortisation Current Previous Corresponding of goodwill period period $A'000 $A'000 1.24+Operating profit(loss) after tax before outside equity interests (items 1-8) and amortisation of goodwill 101,362 103,770 1.25Less (plus) outside +equity interests (3,790) 4,475 1.26+Operating profit(loss) after tax (Before amortisation of goodwill) attributable to members 105,152 99,295 Intangible, abnormal Consolidated-current period and extraordinary items Before tax Related tax Related outside Amount $A'000 $A'000 +equity interests (after $A'000 tax) attrib- utable to members $A'000 2.1 Amortisation of goodwill 20,094 5,016 - 15,078 2.2 Amortisation of other intangibles - - - - 2.3 Total amortisation of intangibles 20,094 5,016 - 15,078 2.4 Abnormal items - - - - 2.5 Total abnormal items - - - - 2.6 Extraordinary items - - - - 2.7 Total extraordinary items - - - - Comparison of half year profits Current year Previous year (preliminary final report only) $A'000 $A'000 3.1 Consolidated+operating profit (loss) after tax attributable to members reported for the 1st half year (item 1.10 in the half yearly report) N/A N/A 3.2 Consolidated+Operating profit(loss)after tax attributable to members for the 2nd half year N/A N/A +See chapter 19 for defined terms APPENDIX 4B (EQUITY ACCOUNTED) HALF YEARLY CONSOLIDATED BALANCE SHEET AT END OF AS SHOWN IN AS IN LAST YEAR (SEE NOTE 5) CURRENT LAST ANNUAL YEARLY PERIOD REPORT REPORT $A'000 $A'000 $A'000 CURRENT ASSETS 4.1 CASH 1,248,652 1,191,816 1,260,607 4.2. RECEIVABLES 1,012,754 952,383 1,008,533 4.3. INVESTMENTS - - - 4.4. INVENTORIES 1,017,884 954,003 986,408 4.5. OTHER (PREPAYMENTS) 81,427 68,110 74,158 4.6. TOTAL CURRENT ASSETS 3,360,717 3,166,312 3,329,706 NON-CURRENT ASSETS 4.7. RECEIVABLES 61,907 77,931 68,289 4.8. INVESTMENTS IN ASSOCIATES 29,457 - - 4.9. OTHER INVESTMENTS 164,174 188,676 195,583 4.10 INVENTORIES - - - 4.11 EXPLORATION AND VALUATION EXPENDITURE CAPITALISED (SEE PARA 71 OF AASB 1022) - - - 4.12 DEVELOPMENT PROPERTIES (+MINING ENTITIES) - - - 4.13 OTHER PROPERTY, PLANT AND EQUIPMENT (NET) 1,228,203 1,242,490 1,216,686 4.14 INTANGIBLES (NET) 677,359 639,996 558,225 4.15 OTHER (FUTURE INCOME TAX BENEFIT) 294,168 277,474 215,686 4.16 TOTAL NON-CURRENT ASSETS 2,455,268 2,426,567 2,254,469 4.17 TOTAL ASSETS 5,815,985 5,592,879 5,584,175 CURRENT LIABILITIES 4.18 ACCOUNTS PAYABLE 779,796 777,677 734,863 4.19 BORROWINGS 1,644,389 1,382,427 1,439,292 4.20 PROVISIONS 398,918 452,579 411,387 4.21 OTHER (PROVIDE DETAILS IF MATERIAL) 2,950 17,469 11,038 4.22 TOTAL CURRENT LIABILITIES 2,826,053 2,630,152 2,596,580 NON-CURRENT LIABILITIES 4.23 ACCOUNTS PAYABLE 2,707 6,261 378 4.24 BORROWINGS 878,128 825,333 942,216 4.25 PROVISIONS 240,856 249,523 203,865 4.26 OTHER (PROVIDE DETAILS IF MATERIAL) 39,651 34,811 31,700 4.27 TOTAL NON-CURRENT LIABILITIES 1,161,342 1,115,928 1,178,159 4.28 TOTAL LIABILITIES 3,987,395 3,746,080 3,774,739 4.29 NET ASSETS 1,828,590 1,846,799 1,809,436 + SEE CHAPTER 19 DEFINED TERMS EQUITY 4.30 CAPITAL 514,421 513,573 512,972 4.31 RESERVES 1,179,580 1,181,823 1,160,679 4.32 RETAINED PROFITS (ACCUMULATED LOSSES) 110,562 116,121 95,202 4.33 EQUITY ATTRIBUTABLE TO MEMBERS OF THE PARENT ENTITY 1,804,563 1,811,517 1,768,853 4.34 OUTSIDE +EQUITY INTERESTS IN CONTROLLED ENTITIES 24,027 35,282 40,583 4.35 TOTAL EQUITY 1,828,590 1,846,799 1,809,436 4.36 PREFERENCE CAPITAL AND RELATED PREMIUM INCLUDED AS PART OF 4.33 - - - Consolidated statement of cash flows (See note 6) Current period Previous corresponding period $A'000 $A'000 Cash Flows Related To Operating Activities 7.1 Receipts from customers 2,985,378 2,928,202 7.2 Payments to suppliers and employees (2,860,363) (2,779,316) 7.3 Dividends received from associates - - 7.4 Other dividends received 2,692 1,368 7.5 Interest and other items of similar nature received 27,847 39,189 7.6 Interest and other costs of finance paid (78,027) (87,063) 7.7 Income taxes paid (29,749) (36,413) 7.8 Other (provide details if material) - - 7.9 Net operating cash flows 47,778 65,967 Cash Flows Related To Investing Activities 7.10 Payment for purchases of property, plant and equipment (83,464) (85,806) 7.11 Proceeds from sale of property, plant and equipment 17,979 4,809 7.12 Payment for purchases of equity investments (17,573) (574) 7.13 Proceeds from sale of equity investments 5,623 229,169 7.14 Loans to other entities - - 7.15 Loans repaid by other entities 9,532 4,486 7.16 Other (In 1996 - Acquisition of previously held finance leased assets) 835 (80,144) 7.17 Net investing cash flows (67,068) 71,940 Cash Flows Related To Financing Activities 7.18 Proceeds from issues of *securities (shares, options, etc) 2,296 6,526 7.19 Proceeds from borrowings 4,646,363 2,337,784 7.20 Repayment of borrowings (4,443,636) (2,410,218) 7.21 Dividends paid (143,840) (143,018) 7.22 Other (Lease Payments) (395) (7,689) 7.23 Net financing cash flows 60,788 (216,615) Net Increase (Decrease) In Cash Held 41,498 (78,708) 7.24 Cash at beginning of period 1,171,690 1,294,112 (see Reconciliation of cash) 7.25 Exchange rate adjustments to item 7.24 19,273 (710) 7.26 Cash at end of period 1,232,461 1,214,694 (see Reconciliation of cash) * See chapter 19 for defined terms. Appendix 4B (equity accounted) Half yearly Non-cash financing and investing activities Details of financing and investing transactions which have had a material effect on consolidated assets and liabilities but did not involve cash flows are as follows. If an amount is quantified, show comparative amount. (I) The value of property, plant and equipment acquired by means of finance leases during the six months ended 31 December 1997 was $2,000 (1996 - $1,466,000). Reconciliation of cash Reconciliation of cash at the end of the period Current Previous (as shown in the consolidated statement of period corresponding cash flows) to the related items in the $A'000 period $A'000 accounts is as follows. 8.1 Cash on hand and at bank 204,757 149,877 8.2 Deposits at call 1,043,895 1,110,730 8.3 Bank overdraft (16,191) (45,913) 8.4 Other (provide details) - - 8.5 Total cash at end of period (item 7.26) 1,232,461 1,214,694 Ratios Current Previous period corresponding period Profit before abnormals and tax/sales 3.7% 4.4% 9.1 Consolidated +operating profit (loss) before abnormal items and tax (item 1.4) as a percentage of sales revenue (item 1.1) Profit after tax/+equity interests 5.0% 4.8% 9.2 Consolidated +operating profit (loss) after tax attributable to members (item 1.10) as a percentage of equity (similarly attributable) at the end of the period (item 4.33) Earnings per security (EPS) Current Previous period corresponding period 10.1 Calculation of basic, and fully diluted, EPS in accordance with AASB 1027: Earnings per Share (a) Basic EPS 8.8c 8.3c (b) Diluted EPS (if materially different from (a)) - - NTA backing Current Previous (see note 7) period corresponding period 11.1 Net tangible asset backing per +ordinary security 110c 118c Details of specific receipts/outlays, revenues/expenses Current Previous period corresponding $A'000 period $A'000 12.1 Interest revenue included in determining item 1.4 27,847 39,189 12.2 Interest revenue included in item 12.1 but not yet received (if material) - - 12.3 Interest expense included in item 1.4 (include all forms of interest, lease finance charges, etc.) 78,026 75,498 12.4 Interest costs excluded from item 12.3 and capitalised in asset values (if material) - - 12.5 Outlays (except those arising from the +acquisition of an existing business) capitalised in intangibles (if material) - - 12.6 Depreciation and amortisation (excluding amortisation of intangibles) 80,227 78,668 Control gained over entities having material effect (see note 8) 13.1 Name of entity (or group of entities) There were no material acquisitions during the period 13.2 Consolidated +operating profit (loss) and $ - extraordinary items after tax of the entity (or group entities) since the date in the current period on which control was +acquired 13.3 Date from which such profit has been calculated - 13.4 +Operating profit (loss) and extraordinary items after tax on the entity (or group of entities) for the whole of the previous corresponding period $ - + See chapter 19 for defined terms. Loss of control of entities having material effect (see note 8) 14.1 Name of entity (or group of entities) There were no materia divestments during the period 14.2 Consolidated *operating profit (loss) $- and extraordinary items after tax of the entity (or group of entities) for the current period to the date of loss of control 14.3 Date to which the profit (loss) in $- item 14.2 has been calculated 14.4 Consolidated *operating profit (loss) $- and extraordinary items after tax of the entity (or group of entities) while controlled during the whole of the previous corresponding period 14.5 Contribution to consolidated *operating $- profit (loss) and extraordinary items from sale of interest leading to loss of control Reports for industry and geographical segments Information on the industry and geographical segments of the entity must be reported for the current period in accordance with AASB 1005: Financial Reporting by Segments. Because of the different structures employed by entitles, a pro forma is not provided. Segment information should be completed separately and attached to this report. However, the following is the presentation adopted in the Appendices to AASB 1005 and indicates which amounts should agree with items included elsewhere in this report. MORE TO FOLLOW IR AUONKWWKUARR
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