Half Yearly Report 31 mars 2011

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ggaultie

Messages: 121

Inscription: Lun 7 Sep 2009 19:01

Message Mar 12 Juil 2011 11:46

Half Yearly Report 31 mars 2011

Tuesday 12 July, 2011
ZCCM Invs.Hldgs PLC
Half Yearly Report
RNS Number : 2243K
ZCCM Invs.Hldgs PLC
12 July 2011




ZCCM INVESTMENTS HOLDINGS Plc
And its subsidiary



DIRECTORS' INTERIM SUMMARY

For the six month period ended 31st March 2011



In compliance with the requirements of the "Securities Act, Cap 354 of the Laws of Zambia" and the listing rules of the Lusaka Stock Exchange, ZCCM Investments Holdings Plc announces the unaudited results for the six month period ended 31 March 2011.



On 26th April, 2010 ZCCM-IH Plc divested 65% of the Maamba Collieries Limited (MCL) shares to Nava Bharat Singapore (Pte) Ltd. Consequently, the consolidated accounts to 31 March 2011 reflect MCL as an Associate Company whilst the comparative figures for the period to 31 March 2010 reflect MCL as a Subsidiary Company.



The Group achieved a turnover of K147, 762 million during the six month period ended 31 March 2011 which was 43% above the turnover of K103, 106 million for the six months to 31 March 2010.



This was mainly as a result of increase in turnover from Ndola Lime Company (NLC) Limited. Turnover of K110, 286 million for NLC during the period ended 31 March 2011 was 39% above that of K79, 615 million for the corresponding period to 31 March 2010. This increase was largely due to an increase in selling prices of Lime products effected during the month of February 2011 and an increase in sales which was made possible as a result of both the rotary kiln and the vertical kiln being operational during the period under review. The increase in exports of Lime products to DRC also contributed to the rise in sales during the period.



Income amounting to K24, 086 million (US$ 5,097,566) was earned in December 2010, an amount which was enshrined in the transaction agreements between ZCCM-IH and TEAL Minerals Limited. The trigger for the payment was the development decision by TEAL to proceed with the Mine Development Programme of the Konkola North Copper Project (KONNOCO). The proceeds from this investment disposal contributed to the increase in turnover. During the period under review, ZCCM-IH exercised its option to take up 20% of the shares in KONNOCO as provided for under the transaction agreements.



Dividends of K4, 414 million (US$ 882, 353) received from Chibuluma Mines Plc during the period.



In addition, interest earned from placements and fixed deposits during the period amounted to K3, 979 million, where as management fees of K961 million was earned from GRZ relating to the Copperbelt Environment Project implementation. This also contributed to the increase in turnover.



The cost of turnover increased to K92, 912 million for the period to 31 March 2011 from K82, 140 million for the corresponding period to 31 March 2010. This was largely due to an increase in NLC cost of sales of K18, 716 millionattributed to the use of both the rotary kiln and the vertical kiln. This increase in price of Heavy Fuel Oils during the period also resulted in increased cost of turnover.



However, this increase in the cost of turnover was favourably impacted by the divestment of MCL. The divestment resulted in a reduction in cost of turnover of K9, 115 million for the period to 31 March 2011.



The operating profit for the period under review of K54, 850 million, was K33, 884 million (161%) higher than that for the same period last year. This was largely as a result of the increase in turnover for the period under review. The retained profit for the period under review of K355, 435 million was K54, 788 million (18%) higher than that for the same period last year. This result was attributable to a favourable exchange rate which resulted in an exchange gain of K13, 545 million, a drop in interest charges and an increase in share of profits of Associate Companies.



The Company's share of profit from Associate Companies for the period 31 March 2011 was K322, 944 million compared to K297, 712 million for the period to 31 March 2010. The improvement was as a result of the general increase in activity in the Mining industry.















By Order of the Board





C Chabala

Company Secretary

24 June 2011
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ggaultie

Messages: 121

Inscription: Lun 7 Sep 2009 19:01

Message Mar 12 Juil 2011 11:56

Re: Half Yearly Report 31 mars 2011

Dividends of K4, 414 million (US$ 882, 353) received from Chibuluma Mines Plc during the period.



1 dividende serait il possible sur exercice 2011 ?
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phili675

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Messages: 1953

Inscription: Mar 8 Sep 2009 08:03

Message Mar 12 Juil 2011 12:40

Re: Half Yearly Report 31 mars 2011

Je crois que ce ne sera possible que quand toutes les dettes seront apurées.
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bingogo

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Inscription: Jeu 30 Juil 2009 16:48

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Message Mar 12 Juil 2011 13:05

Re: Half Yearly Report 31 mars 2011

ggaultie a écrit:Dividends of K4, 414 million (US$ 882, 353) received from Chibuluma Mines Plc during the period.



1 dividende serait il possible sur exercice 2011 ?



il faut attendre que l'actif soit supérieur au passif, ce qui devrait être le cas durant les exercices que nous attendons
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LesCrozes

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Inscription: Jeu 14 Mai 2009 16:23

Message Mar 12 Juil 2011 13:06

Re: Half Yearly Report 31 mars 2011

Ce que l'on conçoit bien, s'énonce clairement, Et les mots pour le dire arrivent aisément. BOILEAU
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bingogo

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Message Mar 12 Juil 2011 13:07

Re: Half Yearly Report 31 mars 2011

les crozes : tu devrais mettre le doc officiels dans les bilans fi

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