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Metal Fabricators of Zambia Plc (ZAMEFA) HY 2013 financial results
 

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Metal Fabricators of Zambia Plc (ZAMEFA) listed on the Lusaka Stock Exchange has released its half year results. Check out ...

Metal Fabricators of Zambia Plc (ZAMEFA) listed on the Lusaka Stock Exchange has released its half year results. Check out
insights into this company in their presentation which appears below.
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Metal Fabricators of Zambia Plc (ZAMEFA) HY 2013 financial results Document Transcript

  • 1. ANNOUNCEMENTS METAL FABRICATORS OF ZAMBIA PLC UNAUDITED RESULTS FOR THE HALF-YEAR ENDED 30TH JUNE 2013 In accordance with the requirements of the Exchange Act and the listing rules of the Lusaka Stock Exchange, Metal Fabricators of Zambia Plc (ZAMEFA) announces the unaudited results for the 6 month period ended 30th June 2013. INCOME STATEMENT (All amounts in thousands of Kwacha except for the Earnings Per Share [EPS]) Six months Six months to 30-Jun-13 to 30-Jun-12 Turn over Exports 348,751 463,131 Domestic 86,069 68,879 Total 434,820 532,010 Operating Income 8,505 18,837 Realized Gains 765 456 Unrealized losses (14, 720) (2,268) Finance cost (1,520) 769 Interest and other income (41) 66 Income before taxation (7,011) 17,860 Taxation 273 (3,572) Net income after taxation (6,738) 14,288 Issued and fully paid 270,900,000 ordinary shares of K0.001 each 271 271 Earnings per share (Kwacha per share) -24.87 52.74
  • 2. Highlights: Turnover decreased during the first half of this year compared to the same period last year due to lower copper prices and lower sales volumes in the export market, this was partially compensated by higher volumes in the domestic market. The Operating Income reduced this year compared to the same period last year largely due to combination of lower sales and higher operating expenses. The South African rand and Zambian Kwacha continued to post losses against the US dollar during the period under review, resulting in net exchange losses on the net monetary Assets denominated in Rand and the United States Dollar denominated Bank overdraft. Outlook for the year 2013 The Company expects competition from both old and new players in the market. However, the Board and management are optimistic that with the current investments in Human Resource, equipment modernization and increased productivity, the company will remain competitive and be able to deliver value for all shareholders. By Order of the Board Stephen Sikombe Company Secretary Luanshya, Zambia