| Statement of Income and Statement of
Earnings and Dividend per share for
the year ended 31 December 2004 |
|
| STATEMENT
OF INCOME |
2004
RO
|
|
2003
RO
|
| INCOME
|
|
|
|
| Revenue |
14,480,455 |
|
11,551,394 |
| Other
income |
174,317 |
|
164,635 |
|
14,654,772 |
|
11,716,029 |
| EXPENSES |
|
|
|
| Salaries and
employee related costs |
4,807,893 |
|
4,487,620 |
| Operating
costs |
1,250,723 |
|
1,351,139 |
| General and
administration expenses |
425,049 |
|
525,815 |
| Depreciation |
682,644 |
|
627,461 |
| Amortisation of
intangible asset |
- |
|
25,600 |
| Franchise
fees |
3,508,433 |
|
1,892,617 |
| Total operating
costs |
10,674,742 |
|
8,910,252 |
| Profit from
operations |
3,980,030 |
|
2,805,777 |
| Net investment
income |
991,487 |
|
526,295 |
| Profit before
tax |
4,971,517 |
|
3,332,072 |
| Taxation |
516,845
|
|
359,455 |
| Net profit for the
year |
4,454,672 |
|
2,972,617 |
|
STATEMENT OF
EARNINGS AND DIVIDEND PER
SHARE |
|
|
|
| Basic earnings per
share |
0.619 |
|
0.413 |
|
Dividend per
share |
0.400 |
|
0.300 |
| |
|
|
TOP | |
| Balance sheet at 31 December 2004 |
| |
| |
2004
RO |
|
2003
RO |
| ASSETS |
|
|
|
| Non current
assets |
|
|
|
| Property, plant
and equipment |
7,684,584 |
|
7,420,879 |
| Investment
properties |
800,000 |
|
837,380 |
| Investments
available for sale |
6,663,022 |
|
4,433,785 |
| Held to maturity
investments |
1,987,450 |
|
- |
| Employee
loans |
40,276 |
|
66,057 |
| Total non-current
assets |
17,175,332 |
|
12,758,101 |
|
|
|
|
| Current
assets |
|
|
|
| Held for trading
investments |
1,030,513 |
|
827,600 |
| Inventories |
287,978 |
|
258,475 |
| Accounts
receivable and prepayments |
1,820,016 |
|
1,045,235 |
| Short term
deposits |
1,000,000 |
|
4,500,000 |
| Bank balances and
cash |
2,044,171 |
|
968,373 |
| Total current
assets |
6,182,678 |
|
7,599,683
|
| Total
assets |
23,358,010 |
|
20,357,784 |
| |
|
|
|
| SHAREHOLDERS'
FUNDS AND LIABILITIES |
|
|
|
| Equity |
|
|
|
| Share
capital |
7,200,000 |
|
7,200,000 |
| Legal
reserve |
2,400,000 |
|
2,400,000 |
| General
reserve |
2,500,000 |
|
2,500,000 |
| Proposed
dividend |
2,880,000 |
|
2,160,000 |
| Retained
earnings |
2,048,739 |
|
667,194 |
| Fair value
reserve |
1,944,286 |
|
1,455,069 |
| Total
shareholders' equity |
18,973,025 |
|
16,382,263 |
| |
|
|
|
| Liabilities |
|
|
|
| Non current
liabilities |
|
|
|
| Employee
end of service benefits |
991,315 |
|
963,085 |
| Deferred tax
liability |
517,952 |
|
513,408 |
| Total non current
liabilities |
1,509,267 |
|
1,476,493 |
| |
|
|
|
| Current
liabilities |
|
|
|
| Accounts payable
and accruals |
2,408,238 |
|
2,230,074 |
| Current
taxation |
467,480 |
|
268,954 |
| Total current
liabilities |
2,875,718 |
|
2,499,028 |
| Total
liabilities |
4,384,985 |
|
3,975,521 |
|
Total
shareholders' funds and
liabilities |
23,358,010 |
|
20,357,784 |
| Net assets per
share |
2.635 |
|
2.275 |
| |
|
|
TOP | | |
