Interim Results

RNS Number:6922H
Griqualand West Diamond Mng Co Ld
30 July 2001



GRIQUALAND WEST DIAMOND MINING COMPANY DUTOITSPAN MINE LIMITED 
Incorporated in the Republic of South Africa 
Company Registration No. 1880/000013/06 
INTERIM REPORT FOR THE HALF-YEAR ENDED 30 JUNE 2001 
-------------------------------------------------------------- 
INCOME STATEMENT 
For the half-year ended 30 June 2001 
Abridged and unaudited 
                                      Half-year          Year 
                                        June             Dec 
                                   2001       2000       2000 
                                     R          R          R 
Amount received from holding 
company in terms of working  
agreement                         42 280     42 280     84 560 
Dividend and interest income       3 052      2 506      5 388 
Profit on disposal of invest- 
ment in holding company            7 344         -          - 
                                   --------------------------- 
                                  52 676     44 786     89 948 
Deduct: 
Expenses                             600        600      4 150 
                                   --------------------------- 
Net income before taxation        52 076     44 186     85 798 
Deduct: 
Taxation                          16 099     15 877     31 054 
                                  ---------------------------- 
Attributable earnings             35 977     28 309     54 744 
                                  ============================ 
Headline earnings                 28 633     28 309     54 744 
Number of shares in issue        105 700    105 700    105 700 
Headline earnings per share        27,1c      26,8c      51,8c 
Dividends per share 
Interim                            20,5c      20,5c      20,5c 
Final                               -          -         21,0c 
                                  ---------------------------- 
                                   20,5c      20,5c      41,5c 
                                  ============================ 
Dividends payable                R21 669    R21 669    R43 865 
-------------------------------------------------------------- 
BALANCE SHEET 
30 June 2001 
Abridged and unaudited 
                                      Half-year          Year 
                                        June             Dec 
                                   2001       2000       2000 
                                     R          R          R 
Capital employed 
Share capital 
105 700 shares of R20 each     2 114 000  2 114 000 2 114 000 
Distributable reserves            58 968     40 421    44 660 
                              ------------------------------- 
                               2 172 968  2 154 421 2 158 660 
                              =============================== 
Represented by 
Fixed assets                   2 111 722  2 111 722 2 111 722 
Listed investment in holding 
company                               -       2 448     2 448 
Net current assets                61 246     40 251    44 490 
                              ------------------------------- 
Current assets                   116 587     92 126    99 350 
                              ------------------------------- 
Amount due by holding company    101 484     80 083    84 406 
Cash                              15 103     12 043    14 944 
                              ------------------------------- 
Current liabilities               55 341     51 875    54 860 
                              ------------------------------- 
Shareholders for unpaid and 
unclaimed dividends               42 099     39 039    42 469 
Creditors                         10 333      9 932     9 905 
Tax                                2 909      2 904     2 486 
                              ------------------------------- 
                               2 172 968  2 154 421 2 158 660 
                              =============================== 
Market value of listed 
investment                            -       7 038     6 120 
 

The Company holds the right to mine the Dutoitspan diamond mine which it
leases to De Beers Consolidated Mines Limited, in terms of an agreement dated
30 August 1889, for an annual consideration of R84 560 and it is anticipated
that, with the exception of the profit on disposal of the investment in the
holding company which will not recur, the results for the second half of the
year will be approximately the same as for the first half. 

For and on behalf of the board 

N.F. OPPENHEIMER 
G.M. RALFE 
Directors 

30 July 2001 


Registered Office 
36 Stockdale Street, Kimberley 8301, South Africa 

Secretaries and South African Share Transfer Secretaries 
De Beers Consolidated Mines Limited 
36 Stockdale Street, Kimberley 8301, South Africa 
(P.O. Box 616, Kimberley 8300) 
Telephone: [phone] 
Facsimile: [phone]/4230 

London Secretary 
J.C. Greensmith 
17 Charterhouse Street, London EC1N 6RA, England 
Telephone: [phone] 
Facsimile: [phone] 

United Kingdom Registrar 
Computershare Investor Services PLC 
P.O. Box 82, The Pavilions, Bridgwater Road, Bristol BS99 7NH, England 
Telephone: [phone] 
Facsimile: [phone]