|
|
PORT SERVICES
CORPORATION (SAOG)
|
|
Unaudited Balance
Sheet
|
|
as at 30-6-2007
|
|
|
|
|
|
30
June 2007
|
|
30
June 2006
|
|
Fixed assets
|
RO. '000
|
|
RO. '000
|
|
Property, plant and equipment
|
8,105.9
|
|
8,302.6
|
|
Intangible properties
|
2.8
|
|
-
|
|
Investment
properties
|
785.0
|
|
785.0
|
|
Investments in
securities held to maturity
|
1,987.4
|
|
1,987.4
|
|
Investments in
securities available for sale
|
11,819.6
|
|
9,488.9
|
|
Employee loans
|
11.3
|
|
16.7
|
|
Total fixed
assets
|
22,712.0
|
|
20,580.6
|
|
|
|
|
|
|
Current assets
|
|
|
|
|
Investments at
fair value through profit or loss
|
1,997.9
|
|
1.380.6
|
|
Inventories
|
242.9
|
|
203.8
|
|
Trade receivables
|
1,417.6
|
|
923.9
|
|
Bank and cash
|
5,458.1
|
|
2,335.6
|
|
Other assets
|
353.9
|
|
166.2
|
|
Total current
assets
|
9,470.4
|
|
5,010.1
|
|
Total assets
|
32,182.4
|
|
25,590.7
|
|
|
|
|
|
|
Current liabilities
|
|
|
|
|
Trade and other
creditors
|
4,310.9
|
|
2,450.4
|
|
Payable to related parties
|
3.1
|
|
2.4
|
|
Total current
liabilities
|
4,314.0
|
|
2,452.8
|
|
|
|
|
|
|
Non-current
liabilities
|
|
|
|
|
Employees end of service benefits
|
917.6
|
|
902.9
|
|
Deferred tax liability
|
536.5
|
|
528.8
|
|
|
1,454.1
|
|
1,431.7
|
|
Total liabilities
|
5,768.1
|
|
3,884.5
|
|
Net assets
|
26,414.3
|
|
21,706.2
|
|
|
|
|
|
|
Shareholders'
funds
|
|
|
|
|
|
|
|
|
|
Share capital
|
7,920.0
|
|
7,200.0
|
|
Legal reserve
|
2,400.0
|
|
2,400.0
|
|
General reserve
|
2,500.0
|
|
2,500.0
|
|
Fair value
reserve
|
5,448.7
|
|
3,968.9
|
|
Profit and loss
account
|
8,145.6
|
|
5,637.3
|
|
Total
shareholders' equity
|
26.414.3
|
|
21,706.2
|
|
|
PORT SERVICES
CORPORATION (SAOG)
|
|
Unaudited Proft & Loss Account
|
|
for six months ended 30-6-2007
|
|
|
|
|
|
6 months
ended
30 June
2007
|
|
6 months
ended
30 June
2006
|
|
|
RO. '000
|
|
RO. '000
|
|
|
|
|
|
|
Turnover/Revenue
|
9,368.9
|
|
7,523.3
|
|
|
|
|
|
|
Gross profit
|
5,903.8
|
|
4,480.3
|
|
|
|
|
|
|
Depreciation
|
(470.3)
|
|
(444.2)
|
|
Administration
& general expenses
|
(571.6)
|
|
(259.0)
|
|
Operating
profit
|
4,861.9
|
|
3,777.1
|
|
|
|
|
|
|
Profit on
disposal of assets
|
3.0
|
|
11.7
|
|
Investment
income
|
1,200.7
|
|
565.4
|
|
Profit before
franchise fee and taxation
|
6,065.6
|
|
4,354.2
|
|
|
|
|
|
|
Provision for
franchise fee*
|
(2,526.5)
|
|
(1,754.0)
|
|
Provision for
taxation
|
(418.5)
|
|
(306.2)
|
|
Net profit
attributable to ordinary shareholders
|
3,120.6
|
|
2,294.0
|
|
|
|
|
|
|
Dividend per
share
|
NA
|
|
NA
|
|
|
|
|
|
|
Net profit
margin
|
33.3%
|
|
30.5%
|
|
Note: In view of the ongoing
negotiations for the renewal of the Concession Agreement, the franchise
fees and rent payable to the Government has been based on the provisions
of the Concession Agreement which expired on 31.12.2006.
|
