Financial overview

Condensed audited consolidated results

For the year ended 30 June 2008, can be downloaded here:
Condensed audited consolidated results for the year ended 30 June 2008 30 September 2008

Unaudited Condensed Financial Results for the Six Months ended 31 December 2007
The unaudited results for the six months ended 31 December 2007 consolidates the accounts of the Intergrear Limited cash shell and only three trading months from 1 October 2007 of the Best Cut businesses acquired late last year and reverse-listed into the Integrear cash shell in January 2007.
Download PDF [258 KB]
The comparative numbers represent the audited results of the cash shell Integrear Limited for the financial year ended June 2007 and are therefore not comparable with the current results.
CONDENSED CONSOLIDATED BALANCE SHEET
	Unaudited	Audited
	December	June
	2007	2007
	R'	R'
ASSETS
Non current assets	34 032 147
Equipment	34 032 147
Current assets	30 601 176	673 755
Trade and other receivables	21 806 935	244 235
Bank balances and cash	3 297 230	429 520
Inventory	5 497 012
TOTAL ASSETS	64 633 323	673 755
EQUITY AND LIABILITIES
Capital and reserves	26 467 077	(691 076)
Share capital	177 793	125 642
Share premium	27 593 927	4 735 530
Non-distributable reserves	48 558	48 558
Capital redemption fund	828 000	828 000
Accumulated (loss)	(2 181 201)	(6 428 805)
Non-current liabilities
Long-term borrowings: Interest bearing	6 607 904	1 072 917
Current liabilities	31 558 342	291 915
Trade and other payables	29 534 539	279 924
Bank overdraft	371 957	11 990
Taxation payable	1 281 810
Deferred tax liability	370 036
TOTAL EQUITY AND LIABILITIES	64 633 323	673 755
CONDENSED CONSOLIDATED INCOME STATEMENT
	Unaudited	Audited
	December	June
	6 months	12 months
	R'	R'
Revenue	39 426 506
Cost of sales	(24 566 173)
Gross profit	14 860 333
Other income	119 187
Operating expenses	8 611 107	939 936
Profit from operations	6 368 413	(939 936)
Profit on write-off of loan		39 563
Depreciation	395 271
Finance costs	94 814	(73 248)
Income from investments	21 122	57 005
Profit/(loss) before tax	5 899 450	(916 617)
Income tax	1 651 846
Net profit/(loss) for the period	4 247 604	(916 617)
Weighted average number of shares in issue	127 356 658	12 564 190
Basic earnings per share (cents)	3,34	(7,30)
Headline earnings per share (cents)	3,35	(7,30)
CONDENSED CONSOLIDATED CASHFLOW STATEMENT
	Unaudited	Audited
	December	June
	6 months	12 months
	R'	R'
OPERATING ACTIVITIES
Cash receipts from customers	17 982 993
Cash paid to suppliers and employees	(3 922 666)	(765 024)
Cash invested in stock	(5 497 012)
Cash generated from/(used in) operations	8 563 316	(765 024)
Interest paid	(94 814)	(73 248)
Interest received	21 122	57 005
Net cash from/(used in) operating activities	8 489 624	(781 267)
INVESTING ACTIVITIES
Purchases of equipment - maintaining operations	(34 427 418)
Net cash (used in)/from investing activities	(34 427 418)
FINANCING ACTIVITIES
Issue of shares	29 885 327
Listing costs	(6 974 779)
Repayment of share premium		(3 450 000)
Increase in borrowings	5 534 987	1 000 000
Net cash from/(used in) financing activities	28 445 535	(2 450 000)
Net Increase in cash and cash equivalents	2 507 742	(3 231 267)
Cash and cash equivalents at beginning of the year	417 529	3 648 797
Cash and cash equivalents at end of the period	2 925 272	417 529
CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
		Non-
	Share	Share	Distributable
	Capital	Premium	reserve
	R'	R'	R'
Balance at 30 June 2005	125 642	685 530	828 000
Net profit for the period
Balance at 30 June 2006	125 642	685 530	828 000
Net loss for the period
Repayment of capital		(3 450 000)
Investment written off		7 500 000
Balance at 30 June 2007	125 642	4 735 530	828 000
Shares issued	52 151	29 833 176
Listing costs		(6 974 779)
Net profit for the period
Balance as at 31 December 2007	177 793	27 593 927	828 000
	Capital	Accumulated
	Redemption	(loss)/
	Fund	profit	Total
Balance at 30 June 2005	48 558	(485 574)	1 202 156
Net profit for the period		2 500 127	2 500 127
Balance at 30 June 2006	48 558	2 014 553	3 702 283
Net loss for the period		(916 617)	(916 617)
Repayment of capital			(3 450 000)
Investment written off		(7 526 741)	(26 741)
Balance at 30 June 2007	48 558	(6 428 805)	(691 075)
Shares issued			29 885 327
Listing costs			(6 974 779)
Net profit for the period		4 247 604	4 247 604
Balance as at 31 December 2007	48 558	(2 181 201)	26 467 077

 

.