Nictus Limited
(Incorporated in the Republic of South Africa) (Registration number 81/011858/06)
JSE Share code: NCS ISIN Code NA0009123481
("Nictus" or "the Company" or "the Group")
Abridged report relating to the audited financial results for the year ended 31 March 2017 and details of the notice of the annual general meeting
Abridged consolidated statement at 31 March 2017 Figures in R'000 | of | financial | position 2017 | 2016 | ||
Assets Property, plant and equipment | 17 629 | 17 230 | ||||
Intangible assets | 101 | 355 | ||||
Investments | 22 | 062 | 39 | 841 | ||
Deferred tax assets | 1 | 424 | 1 | 145 | ||
Loans and receivables | 3 | 668 | 4 | 768 | ||
Non-current assets | 44 | 884 | 63 | 339 | ||
Inventories | 11 | 284 | 11 | 185 | ||
Loans and receivables | 44 | 766 | 46 | 468 | ||
Trade and other receivables | 335 | 484 | 254 | 464 | ||
Investments | 100 | 766 | 22 | 988 | ||
Cash and cash equivalents | 57 | 603 | 118 | 112 | ||
Current assets | 549 | 903 | 453 | 217 | ||
Total assets Equity and liabilities Stated capital | 594 48 | 787 668 | 516 48 | 556 668 | ||
Revaluation reserve | 7 | 983 | 7 | 983 | ||
Retained earnings | 42 | 652 | 37 | 749 | ||
Equity Liabilities Deferred tax liabilities | 99 2 | 303 398 | 94 2 | 400 602 | ||
Non-current liabilities | 2 | 398 | 2 | 602 | ||
Trade and other payables | 10 | 837 | 7 | 610 | ||
Insurance contract liability | 482 | 180 | 411 | 944 | ||
Current tax payable | 69 | - | ||||
Current liabilities | 493 | 086 | 419 | 554 | ||
Total liabilities | 495 | 484 | 422 | 156 | ||
Total equity and liabilities | 594 | 787 | 516 | 556 |
Abridged consolidated statement of profit or loss and other comprehensive income
for the year ended 31 March 2017
Figures in R'000 2017 2016
Revenue | 44 | 651 | 51 | 062 |
Cost of sales | (21 | 628) | (20 | 621) |
Gross profit | 23 | 023 | 30 | 441 |
Other income | 2 | 117 | 4 | 062 |
Investment income from operations | 37 | 884 | 30 | 699 |
Operating expenses | (43 | 991) | (40 | 626) |
Administrative expenses | (16 | 805) | (19 | 146) |
Results from operating activities | 2 | 228 | 5 | 430 |
Investment income | 4 | 841 | 3 | 869 |
Profit before taxation | 7 | 069 | 9 | 299 |
Taxation expense | (178) | (1 | 312) | |
Profit for the year Other comprehensive income: | 6 | 891 | 7 | 987 |
Items that will never be reclassified to profit or loss
Tax related to property valuation -
capital gains tax rate change - (187)
Total comprehensive income Profit attributable to: Owners of the parent | for the year | 6 6 | 891 891 | 7 7 | 800 987 |
Total comprehensive income to: | attributable | ||||
Owners of the parent | 6 | 891 | 7 | 800 | |
Basic earnings per share (cents) | 10,40 | 12,05 | |||
Diluted basic earnings per share (cents) | 10,40 | 12,05 |
Abridged consolidated statement of cash flows for the year ended 31 March 2017
Figures in R'000 2017 2016
Cash flows from operating activities Cash utilised by operations | (41 | 680) | (75 | 909) | ||
Investment income received from operations | 36 | 728 | 29 | 264 | ||
Dividends received | 1 | 156 | 1 | 435 | ||
Dividends paid | (1 | 988) | (1 | 988) | ||
Tax paid | (592) | - | ||||
Net cash utilised | by | operating activities | (6 376) | (47 | 198) | |
Cash flows from investing activities | ||||||
Acquisition equipment | of property, plant and | (965) | (336) | |||
Proceeds on equipment | sale of property, plant | and | 115 | 104 | ||
Acquisition | of intangible assets | - | (22) | |||
Proceeds from disposal of investments | 17 | 949 | 1 | 873 | ||
Investment income received | 4 | 841 | 3 | 869 | ||
Short-term funds (invested)/disinvested | (77 | 778) | 108 | 893 |
Loans repaid by/(advanced to) related parties | 1 | 702 | (7 | 187) | |
Proceeds on disposal of subsidiary | 7 | - | |||
Net cash (utilised by)/generated from investing activities | (54 | 129) | 107 | 194 | |
Total cash movement for the year | (60 | 505) | 59 | 996 | |
Total cash sold by subsidiary for the | year | (4) | - | ||
Cash and cash equivalents at the beginning of the year | 118 | 112 | 58 | 116 | |
Total cash and cash equivalents at the end of the year | 57 | 603 | 118 | 112 |
Abridged consolidated statement of changes in equity for the year ended 31 March 2017
Re- | |||||
Stated | valuation | Retained | Total | ||
Figures | in R'000 | capital | reserve | earnings | equity |
Balance at 1 April 2015 48 668 8 170 31 577 88 415 Total comprehensive income
for the year
Profit for the year - - 7 987 7 987 Other comprehensive income
Deferred tax on property revaluations
- capital gains tax change | rate | - (187) | - | (187) | |
Total comprehensive for the year | income | - (187) | 7 | 987 | 7 800 |
Transactions with the owners of the company
Distributions to the owners of the company
Dividends paid | - - (1 988) | (1 988) | |
Prescribed dividends | - - 173 | 173 | |
Total transactions with the owners of the company | - - (1 815) | (1 815) | |
Balance at 31 March 2016 | 48 | 668 7 983 37 749 | 94 400 |
Total comprehensive income for the year | |||
Profit for the year | - - 6 891 | 6 891 | |
Total comprehensive income for the year | - - 6 891 | 6 891 | |
Transactions with the owners of the company | |||
Distributions to the owners of the company | |||
Dividends paid | - - (1 988) | (1 988) |
Total transactions with the owners of the company | - | - | (1 988) | (1 988) | ||
Balance at 31 March 2017 | 48 | 668 | 7 | 983 | 42 652 | 99 303 |
Abridged segmental report for the year ended 31 March 2017 Figures in R'000 | 2017 | 2016 | |
Segment assets Furniture retail | 62 793 | 63 | 679 |
Insurance and finance | 563 378 | 486 | 431 |
Sub-total | 626 171 | 550 | 110 |
Head office and eliminations | (31 384) | (33 | 554) |
Total segment assets Segment revenue | 594 787 | 516 | 556 |
Furniture retail | 36 712 | 36 | 564 |
Insurance and finance | 9 416 | 15 | 918 |
Sub-total | 46 128 | 52 | 482 |
Head office and eliminations | (1 477) | (1 | 420) |
Total segment revenue Net (loss)/profit for the year Furniture retail | 44 651 (1 156) | 51 | 062 820 |
Insurance and finance | 2 127 | 3 | 627 |
Sub-total | 971 | 4 | 447 |
Head office and eliminations | 5 920 | 3 | 540 |
Total net profit for the year | 6 891 | 7 | 987 |
Accounting policies Basis of preparation
The abridged consolidated financial statements for the year ended
31 March 2017 ("Abridged Financial Statements") are prepared in accordance with the requirements of the JSE Limited ("JSE") Listings Requirements ("Listings Requirements") for abridged reports, and the requirements of the Companies Act of South Africa ("Companies Act") applicable to Abridged Financial Statements.
The Abridged Financial Statements are prepared in accordance with the framework concepts and the measurement and recognition requirements of International Financial Reporting Standards (IFRS) and the SAICA Financial Reporting Guides as issued by the Accounting Practices Committee and Financial Pronouncements as issued by the Financial Reporting Standards Council and to also, as a minimum, contain the information required by IAS 34 Interim Financial Reporting. This announcement does not include the information required pursuant to paragraph 16A(j) of IAS 34. The accounting policies applied in the preparation of the consolidated financial statements, from which the Abridged Financial Statements were derived, are in terms of International Financial Reporting
Nictus Ltd. published this content on 30 June 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 30 June 2017 09:11:04 UTC.
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