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Olympia Capital Corporation (Botswana) Limited FY 2013 financial results
 

Olympia Capital Corporation (Botswana) Limited FY 2013 financial results

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Olympia Capital Corporation (Botswana) Limited FY 2013 financial results

Olympia Capital Corporation (Botswana) Limited FY 2013 financial results

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Olympia Capital Corporation (Botswana) Limited FY 2013 financial results Olympia Capital Corporation (Botswana) Limited FY 2013 financial results Document Transcript

  • OLYMPIA CAPITAL CORPORATION (PTY) LIMITED GROUP RESULTS Olympia Capital Corporation Limited is pleased to present its financial statements (unaudited) for the year ended 28 February 2013. The results have been reviewed but not audited by Crowe OLYMPIA CAPITAL CORPORATION LIMITED Horwath, the Group’s independent external auditors. CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME UNAUDITED UNAUDITED AUDITED FOR THE YEAR ENDED 28TH FEBRUARY 2013 FY 2013 FY 2012 FY 2011 Pula Pula Pula Revenues 43,884,336 39,294,645 37,384,838 Cost of sales (35,532,528) (30,732,957) (25,948,078) Gross profit 8,351,808 8,561,688 11,436,760 Other income 389,660 617,703 455,041 Operating Costs (7,593,596) (7,670,396) (8,143,689) Profit from operations 1,147,872 1,508,995 3,748,112 Finance Income 456,321 441,978 545,197 Finance cost (828,035) (318,613) (1,828,244) Profit before taxation 776,158 1,632,360 2,465,065 Income tax expenses 71,136 (720,221) - Net profit for the year 847,294 912,139 2,465,065 Gain On Revaluation 298,381 2,465,838 - Tax related to other components of comprehensive income (35,757) (359,691) 421,923 Total Comprehensive Income 1,109,918 3,018,286 2,886,988 CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT 28TH FEBRUARY 2013 UNAUDITED UNAUDITED AUDITED ASSETS FY 2013 FY 2012 FY 2011 Non - current assets Pula Pula Pula Property, plant and equipment 17,228,119 17,225,533 14,954,598 Intangible assets 1,386,188 1,437,308 1,487,887 Deferred tax 1,416,581 1,425,871 1,435,161 20,030,888 20,088,712 17,877,646 Current assets Inventories 5,667,546 4,679,552 4,698,545 Trade and other receivables 1,525,211 2,766,268 6,781,594 Amounts receivable from group co.s 4,610,754 4,308,248 4,038,382 Bank balances and cash 7,211,069 7,479,477 5,178,655 19,014,580 19,233,546 20,697,176 Total assets 39,045,468 39,322,258 38,574,822 EQUITY AND LIABILITIES Equity capital and reserves Issued capital and premium 11,358,203 11,358,203 11,358,203 Non-distributable reserves 7,672,013 7,409,389 5,303,242 Distributable reserves (3,746,748) (4,594,042) (5,506,181) 15,283,469 14,173,550 11,155,264 Non-current liabilities Interest bearing borrowings 3,273,513 2,935,886 2,633,993 Deffered tax 2,607,336 2,616,626 2,625,916 5,880,849 5,552,512 5,259,909 Current liabilities Trade and other payables 17,062,772 18,862,224 21,502,290 Borrowings 818,378 733,971 657,359 17,881,150 19,596,196 22,159,649 Total equity and liabilities 39,045,468 39,322,258 38,574,822
  • CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 28TH FEBRUARY 2013 UNAUDITED UNAUDITED AUDITED FY 2013 FY 2012 FY 2011 Pula Pula Pula Cash generated from operations Cash generated by/ (utilised in) operating activities: Profit before tax 776,158 1,632,360 2,465,065 Depreciation & amortization charge 713,737 679,919 665,747 Interest received (456,321) (441,978) (545,197) Finance cost 828,035 318,613 1,828,244 Operating profits before changes in working capital 1,861,609 2,188,914 4,413,859 Movement in working capital: (682,291) 2,352,798 (304,726) Cash generated from operations 1,179,318 4,541,712 4,109,133 Cash flows from operating activities 228,479 4,170,077 2,126,086 Cash generated from operations 1,179,318 4,541,712 4,109,133 Interest paid (828,035) (318,613) (1,828,244) Interest received 456,321 441,978 545,197 Income tax paid (579,125) (495,000) (700,000) Cash flows from investing activities (280,149) (399,783) (4,630,469) Acquisition of property, plant and equipment (280,149) (496,596) (4,630,469) Proceeds from disposal of property, plant & equipment - 96,813 - Cash flows from financing activities (216,738) (1,469,472) 313,729 Movement in borrowings (216,738.00) (670,758.00) 313,729 Loans to group companies - (798,714.00) - Net increase in Cash and cash equivalents (268,408) 2,300,822 (2,190,654) Cash and cash equivalents at the beginning of the period 7,479,477 5,178,655 7,369,309 Cash and cash equivalents at the end of the period 7,211,069 7,479,477 5,178,655 STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 28TH FEBRUARY 2013 Stated Capital Pula Non- distributable Reserves Pula Distributable Reserves Pula TOTAL Pula Balance as at 28 February 2011 11,358,203 5,303,242 (5,506,181) 11,155,264 Total Comprehensive Income for the year - - 912,139 912,139 Revaluation surplus on property - 2,106,147 - 2,106,147 Amortization of revaluation reserve - - - - Balance as at 29 February 2012 11,358,203 7,409,389 (4,594,042) 14,173,550 Total Comprehensive Income for the year - - 847,294 847,294 Revaluation surplus on property - 262,624 - 262,624 Amortization of revaluation reserve - - - - Balance as at 28 February 2013 11,358,203 7,672,013 (3,746,748) 15,283,468 We are currently reviewing various opportunities for growth and therefore the group anticipates better performance during the current financial year. DIVIDEND: The Board of Directors does not recommend payment of dividend. By Order of the Board Kenneth Kareithi DIRECTOR