NATIONAL INVESTMENT TRUST LTD
Unaudited Condensed Financial Statements - Half year period ending 31 December 2013
Unaudite...
Rs 000 Rs 000 Rs 000 Rs 000
Income 20,181 16,177 16,990 13,016
Surplus / (Deficit) on Portfolio of Investments 5,410 (1,84...
Unaudited Unaudited
31-Dec-13 31-Dec-12
CASH FLOWS FROM OPERATING ACTIVITIES Rs 000 Rs 000
Profit before taxation 16,610 5...
Ah Vee Li Chun Fong
Company Secretary
14-Feb-14
COMMENTS
For the half-year under review, the Company’s Net Asset Value rem...
-
unaudited. The accounting policies
d in the audited financial statements
ered office: 8th floor, Newton Tower, Sir William...
per share basis.
ng higher dividend s received from SICOM.
ations were runn ing high at the turn of the year with the cons...
National Investment Trust Ltd HY 2014 financial results
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National Investment Trust Ltd HY 2014 financial results

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National Investment Trust Ltd Listed on the Stock Exchange of Mauritius has released its Half Results. Check out
insights into this company in their presentation which appears below.
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National Investment Trust Ltd HY 2014 financial results

  1. 1. NATIONAL INVESTMENT TRUST LTD Unaudited Condensed Financial Statements - Half year period ending 31 December 2013 Unaudited Unaudited Audited 31-Dec-13 31-Dec-12 30-Jun-13 Rs 000 Rs 000 Rs 000 1.Condensed Statements of Financial Position ASSETS Non-Current Assets Property and Equipment 40,226 43,147 41,761 Investments Portfolio of Domestic & International Securities 895,864 772,796 882,639 936,090 815,943 924,400 Current Assets Accounts Receivable 33,353 33,593 35,764 Cash at Bank 23,858 30,351 26,560 57,211 63,944 62,324 Total Assets 993,301 879,887 986,724 EQUITY AND LIABILITIES CAPITAL AND RESERVES Stated Capital 156,718 156,718 156,718 Investment Revaluation Reserve 796,849 681,596 791,439 Retained Profit 21,900 20,036 18,927 Total Equity 975,467 858,350 967,084 NON CURRENT LIABILITIES Bank Loan 9,375 13,125 11,250 CURRENT LIABILITIES Accounts Payable 3,622 3,629 3,397 Bank Loan 3,750 3,750 3,750 Taxation - 92 156 Deferred Tax Liability 1,087 941 1,087 TOTAL LIABILITIES 8,459 8,412 8,390 TOTAL EQUITY AND LIABILITIES 993,301 879,887 986,724 Net Asset Value per Share 71.19 62.64 70.58 2. Condensed Statements of Comprehensive Income Unaudited Unaudited Unaudited Unaudited 6 months to 6 months to 3 months to 3 months to 31-Dec-13 31-Dec-12 31-Dec-13 31-Dec-12
  2. 2. Rs 000 Rs 000 Rs 000 Rs 000 Income 20,181 16,177 16,990 13,016 Surplus / (Deficit) on Portfolio of Investments 5,410 (1,849) 32,255 (8,632) Total Income 25,591 14,328 49,245 4,384 Expenses (8,981) (8,710) (4,971) (4,657) Net Income before tax 16,610 5,618 44,274 (273) Taxation (5) - (5) - Net Income after tax 16,605 5,618 44,269 (273) Surplus / (Deficit) on Portfolio of Investments Transferred To Investment Revaluation Reserve (5,410) 1,849 (32,255) 8,632 Net Distributable Income 11,195 7,467 12,014 8,359 Increase in Net Asset Value -Rs 1.21 0.41 3.23 (0.02) Distributable Earnings per share-cents 82 54 88 61 3. Condensed Statements of Changes in Equity Share Fair Retained Capital Revaluation Earnings Total Reserve Rs 000 Rs 000 Rs 000 Rs 000 Balance as at 30 June 2012 156,718 683,445 19,420 859,583 Total comprehensive income for the period 7,467 7,467 Surplus on revaluation of Investment (1,849) (1,849) transferred Dividends paid (6,851) (6,851) Balance as at 31 December 2012 156,718 681,596 20,036 858,350 Balance as at 30 June 2013 156,718 791,439 18,927 967,084 Total comprehensive income for the period 11,195 11,195 Deficit on Revaluation of Investments 5,410 5,410 transferred Dividends paid (8,222) (8,222) Balance as at 31 December 2013 156,718 796,849 21,900 975,467 4.Condensed Statements of Cash Flow
  3. 3. Unaudited Unaudited 31-Dec-13 31-Dec-12 CASH FLOWS FROM OPERATING ACTIVITIES Rs 000 Rs 000 Profit before taxation 16,610 5,618 Adjustments for: Deficit / (Surplus) on portfolio of investments (5,410) 1,849 Depreciation 1,909 1,951 13,109 9,418 MOVEMENT IN WORKING CAPITAL (Increase) /Decrease in accounts receivables 2,450 (4,947) Increase / (Decrease) in accounts payables 225 184 2,675 (4,763) Net cash generated from operating activities 15,784 4,655 CASH FLOWS FROM INVESTING ACTIVITIES Addition to Investments (7,815) - Addition to Property & Equipment (374) - (8,189) - CASH FLOWS FROM FINANCING ACTIVITIES Dividends paid (8,222) (6,851) Loan paid (1,875) (1,875) Tax refund / (paid) (200) 72 NET CASH USED IN FINANCING ACTIVITIES (10,297) (8,654) Net decrease in cash and cash equivalents (2,702) (3,999) Cash and cash equivalents at 1 July 26,560 34,350 Cash and cash equivalents at 31 December 23,858 30,351 Represented By: Cash at Bank 23,858 30,351 NOTES 1. The condensed abridged financial statements of the Company for the period ended 31 December 2013 are unaudited. The accounting policies and standards used in the preparation of these condensed financial statements are consistent with those used in the audited financial statements for the year ended 30 June 2013. 2. Copies of the abridged unaudited financial statements are available, free of charge, at the Company's registered office: 8th floor, Newton Tower 3. The statement of direct and indirect interests of officers of the Company required under rule 8(2)(m) of the Securities (Disclosure Obligations of R registered office of the Company. These abridged financial statements are issued pursuant to listing rule 12.20 and Securities Act 2005. The Board of Directors of the National Investment Trust Ltd accepts full responsibility for the accuracy of the information contained in these abridge On Behalf of the Board
  4. 4. Ah Vee Li Chun Fong Company Secretary 14-Feb-14 COMMENTS For the half-year under review, the Company’s Net Asset Value remained more or less stable at Rs 71.19 on a per share basis. On the income side, Net Income amounted to Rs 11.2m compared to Rs 7.5m at a similar date last year following higher dividend MARKET THOUGHTS After the impressive show of strength by equity markets in regions such as the U.S., Europe and Japan, expectations were runn being that 2014 would be a ‘take off year’ whereby, the major economies around the world would reach ‘escape velocity’. However, such a sanguine backdrop was recently put to a test as, a steady stream of negative global macro economic data and, and liquidity flows, have made for a jittery past couple of weeks in global financial markets. Against such a background, we believe that differentiation among sectors and regions remains key going forward.
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  6. 6. unaudited. The accounting policies d in the audited financial statements ered office: 8th floor, Newton Tower, Sir William Newton Street, Port Louis. curities (Disclosure Obligations of Reporting Issuers) Rules 2007 is available upon request, free of charge, at the ormation contained in these abridged financial statements.
  7. 7. per share basis. ng higher dividend s received from SICOM. ations were runn ing high at the turn of the year with the consensus belief onomic data and, renewed concerns over emerging market currencies

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