Last checked at 1 Apr 2016 14:30
SENS ANNOUNCEMENT
(the "Notice" or "Announcement")
ISSUER
ZCCM INVESTMENTS HOLDINGS PLC ("ZCCM-IH")
[Incorporated in the Republic of Zambia]
Company registration number: 771
Share Code: ZCCM-IH
ISIN: ZM0000000037
Authorised by: Chabby Chabala - Company Secretary
SPONSOR
Stockbrokers Zambia Limited
[Member of the Lusaka Stock Exchange]
[Regulated and licensed by the Securities and Exchange Commission of Zambia]
Contact Number: +260-211-232456
Website: www.sbz.com.zm
APPROVAL
The captioned Notice or Announcement has been approved by:
i. the Lusaka Stock Exchange
ii. the Securities and Exchange Commission
iii. Stockbrokers Zambia Limited
RISK WARNING
The Notice or Announcement contained herein contains information that may be of a price sensitive nature.
Investors are advised to seek the advice of their investment advisor, stockbroker, or any professional duly licensed by the Securities and Exchange Commission of Zambia to provide securities advice.
ISSUED: 31 March 2016
ZCCM INVESTMENTS HOLDINGS PLC
[Incorporated in the Republic of Zambia]
Company registration number: 771
Share Code: ZCCM-IH
ISIN: ZM0000000037
["ZCCM-IH" or "the Company"]
In compliance with the requirements of the Securities (Registration of Securities) Rules, 1993 and the Lusaka Stock Exchange Listing Requirements, the Board of Directors of ZCCM Investments Holdings (ZCCM-IH) announces the audited results of the Company for year ended 31st March 2015.
SUMMARY OF CONSOLIDATED STATEMENT OF PROFIT OR LOSS & OTHER COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 MARCH 2015 | 2015 | 2014 | ||
ZMW'000 | ZMW'000 | |||
Revenue | 241 989 | 1 000 538 | ||
Operating (loss)/profit | (2 179 453) | 871 006 | ||
Net financing income | 569 950 | 27 936 | ||
Share of profit/ (loss) of equity-accounted investees, net of tax | 280 535 | (537 041) | ||
(Loss)/ profit before tax | (1 328 968) | 361 901 | ||
Income tax expense | 341 851 | (84 715) | ||
(Loss)/profit for the year | (987 117) | 277 186 | ||
Basic and diluted earnings per share (Kwacha) | (6.14) | 3.08 |
SUMMARY OF CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT 31 MARCH 2015 | 2015 | 2014 | ||
ZMW'000 | ZMW'000 | |||
Total Non-current assets | 7 814 621 | 6 585 896 | ||
Total current assets | 689 437 | 2 266 442 | ||
Total Assets | 8 504 058 | 8 852 338 | ||
Equity attributable to shareholders | 7 369 959 | 8 004 732 | ||
Non-current liabilities | 539 519 | 346 672 | ||
Current liabilities | 594 580 | 500 934 | ||
Total liabilities | 1 134 099 | 847 606 | ||
Total equity and liabilities | 8 504 058 | 8 852 338 |
Consolidated statement of changes in equity
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY | Share capital | Share premium | Total Reserves | Retained earnings | Total |
ZMW'000 | ZMW'000 | ZMW'000 | ZMW'000 | ZMW'000 | |
Balance at 1 April 2013 | 893 | 0 | 605,865 | 4,018,325 | 4,625,083 |
Profit | - | - | - | 277,186 | 277,186 |
Currency translation - equity accounted investees | - | - | 1,012,998 | 1,012,998 | |
Amortisation of revaluation surplus, net of tax | - | - | (433) | 433 | |
Actuarial loss on defined benefit, net of tax | - | - | - | (593) | (593) |
Issue of ordinary shares | 715 | - | - | 715 | |
Share premium | - | 2,089,343 | - | 2,089,343 | |
Balance at 31 March 2014 | 1,608 | 2,089,343 | 1,618,430 | 4,295,351 | 8,004,732 |
Balance at 1 April 2014 | 1,608 | 2,089,343 | 1,618,430 | 4,295,351 | 8,004,732 |
Profit | - | - | (987,117) | (987,117) | |
Currency translation - equity accounted investees | - | - | 597,689 | 597,689 | |
Revaluation surplus on PPE, net of tax | 5,572 | 5,572 | |||
Amortisation of revaluation surplus | - | - | (215) | 215 | - |
Actuarial loss on defined benefit, net of tax | - | - | (66) | (66) | |
Payment of dividend | (250,851) | (250,851) | |||
Balance at 31 March 2014 | 1,608 | 2,089,343 | 2,221,476 | 3,057,532 | 7,369,959 |
SUMMARY OF CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2015 | 2015 | 2014 | ||
ZMW'000 | ZMW'000 | |||
Net cash from operating activities | 529 297 | 130 562 | ||
Net cash used in investing activities | (508 253) | (166 558) | ||
Net cash used in/ from financing activities | (251 625) | 271 921 | ||
Net (decrease)/ increase in cash and cash equivalents | (230 581) | 235 925 | ||
Cash and cash equivalents at 1 April | 274 363 | 38 438 | ||
Cash and cash equivalents at 31 March | 43 782 | 274 363 |
Group Financial Performance
The Group recorded turnover of K242 million (2014: K1, 001 million) and operating loss of K2, 179 million (2014: K871 million profit). Further, the Group reported a loss before tax of K1, 329 million (2014: K362 million profit). The Group recorded a loss after tax of K987 million (2014: K277 million profit). The Group's share of profit of equity accounted investees' was K281 million (2014: K537 million loss).
The Group's equity attributable to shareholders as at 31 March 2015 was positive at K7, 370 million (2014: K8, 005 million).
The dividend declared for 2014 was paid out in the third quarter of the year.
T | +260-211-232456
E | advisory@sbz.com.zm
W | www.sbz.com.zm
Stockbrokers Zambia Limited (SBZ) is a member of the Lusaka Stock Exchange and is regulated by the Securities and Exchange Commission of Zambia | |
First Issued on 31 March 2016 | |