| |
|
PSC
FINANCIALS
|
(i) |
Income
Statement for the
year ended 31 December 2002 |
|
(ii) |
Balance
Sheet as at 31
December 2002 |
|
(iii) |
Unaudited
Balance sheet at
30.6.2002 |
|
(iv) |
Unaudited
Profit & Loss Account for six months ended 30.6.2002 |
|
(v) |
Unaudited
Balance Sheet at 31.3.2003. |
|
(vi) |
Unaudited
Profit & Loss Account for three months ended 31.3.2003 |
|
PORT
SERVICES CORPORATION (SAOG) |
|
Income statement |
|
for the year
ended 31 December 2002 |
| |
2002
RO
|
|
2001
RO
|
Revenue
|
9,225,460
|
|
8,297,092
|
|
Employee
costs |
(3,828,563)
|
|
(3,574,291) |
|
Operating costs |
(1,183,457)
|
|
(1,311,265) |
|
Depreciation |
(728,670)
|
|
(821,662) |
|
Administrative and general expenses |
(322,180)
|
|
(281,810) |
|
Franchise fees |
(1,019,345)
|
|
(651,311) |
|
Other
income |
231,593
|
|
107,879 |
|
Amortisation of deferred expenditure |
(25,600)
|
|
|
| |
|
|
|
|
Profit
from operations |
2,349,238
|
|
1,764,632 |
| |
|
|
|
|
Net
financing income |
280,224
|
|
348,345 |
|
Realised gain on sale of investments |
9,189
|
|
- |
|
Fair value adjustments to investments |
12,247
|
|
- |
|
Decrease
in fair value of investment properties |
(348,500)
|
|
(225,500) |
| |
|
|
|
|
Profit
before tax |
2,302,398
|
|
1,887,477
|
| |
|
|
|
|
Income
tax expense |
(203,053)
|
|
(156,166) |
| |
|
|
|
|
Net
profit for the year |
2,099,345
|
|
1,731,311 |
| |
|
|
|
|
Basic
earnings per share |
0.292
|
|
0.240
|
| |
|
|
|
|
Dividend per share |
0.250
|
|
0.180 |
| |
|
|
|
| |
|
|
TOP |
|
|
PORT
SERVICES CORPORATION (SAOG) |
|
Balance sheet |
|
as at 31
December 2001 |
| |
|
| |
2002
RO |
|
2001
RO |
|
Assets |
|
|
|
|
Property, plant and equipment |
7,771,143
|
|
8,239,469 |
|
Intangible assets |
25,600
|
|
- |
|
Investment properties |
1,076,000
|
|
1,424,500 |
|
Investments
|
2,625,471
|
|
1,140,008 |
|
Employee loans |
90,754
|
|
124,292 |
| |
|
|
|
|
Total
non-current assets |
11,588,968
|
|
10,928,269 |
| |
|
|
|
|
Investments |
345,531
|
|
|
|
Inventories |
202,616
|
|
192,175 |
|
Receivable and prepayments |
724,414
|
|
581,255 |
|
Cash
and bank balances |
4,958,338
|
|
4,775,316 |
| |
|
|
|
|
Total
current assets |
6,230,899
|
|
5,548,746 |
| |
|
|
|
|
Total assets |
|
|
16,477,015 |
| |
|
|
|
|
Equity |
|
|
|
|
Share
capital |
7,200,000 |
|
7,200,000 |
|
Legal
reserve |
2,201,466
|
|
1,991,531 |
|
General reserve |
2,500,000 |
|
2,500,000 |
|
proposed dividend |
1,800,000
|
|
1,296,000 |
|
Retained earnings |
874,715
|
|
551,715 |
| |
|
|
|
|
Total
equity |
14,576,181
|
|
13,539,246 |
| |
|
|
|
|
Liabilities |
|
|
|
|
Payable and accruals |
3,243,686
|
|
2,937,769 |
| |
|
|
|
|
Total liabilities |
3,243,686
|
|
2,937,769 |
| |
|
|
|
|
Total equity and liabilities |
17,819,867
|
|
16,477,015 |
| |
|
|
|
|
Net
assets per share |
2.024
|
|
1.880 |
| |
|
|
|
| |
|
|
TOP |
|
|
|
PORT
SERVICES CORPORATION (SAOG) |
|
Income statement |
|
for the year
ended 31 December 2001 |
| |
2001
RO
|
|
2000
RO
|
Revenue
|
8,297,092
|
|
6,857,480
|
|
Employee
costs |
(3,574,291) |
|
(3,361,560) |
|
Operating costs |
(1,311,265) |
|
(1,336,845) |
|
Depreciation |
(821,662) |
|
(854,647) |
|
Administrative and general expenses |
(281,810) |
|
(260,328) |
|
Franchise fees |
(651,311) |
|
- |
|
Other
income |
107,879 |
|
154,444 |
|
Amortisation of deferred expenditure |
- |
|
(329,512) |
| |
|
|
|
|
Profit
from operations |
1,764,632 |
|
869,032 |
| |
|
|
|
|
Net
financing income |
348,345 |
|
306,256 |
|
Decrease
in fair value of investment properties |
(225,500) |
|
(136,000) |
| |
|
|
|
|
Profit
before tax |
1,887,477 |
|
1,039,288 |
| |
|
|
|
|
Income
tax expense |
(156,166) |
|
(116,367) |
| |
|
|
|
|
Net
profit for the year |
1,731,311 |
|
922,921 |
| |
|
|
|
|
Basic
earnings per share |
0.240 |
|
0.128 |
| |
|
|
|
|
Dividend per share |
0.180 |
|
0.100 |
| |
|
|
|
| |
|
|
TOP |
|
|
PORT
SERVICES CORPORATION (SAOG) |
|
Balance sheet |
|
as at 31
December 2001 |
| |
|
| |
2001
RO |
|
2000
RO |
|
Assets |
|
|
|
|
Property, plant and equipment |
8,239,469 |
|
8,981,990 |
|
Investment properties |
1,424,500 |
|
1,650,000 |
|
Investments in equity securities
|
1,140,008 |
|
863,394 |
|
Employee loans |
124,292 |
|
175,134 |
| |
|
|
|
|
Total
non-current assets |
10,928,269 |
|
11,670,518 |
| |
|
|
|
|
Inventories |
192,175 |
|
278,175 |
|
Receivable and prepayments |
581,255 |
|
547,400 |
|
Cash
and bank balances |
4,775,316 |
|
4,424,717 |
| |
|
|
|
|
Total
current assets |
5,548,746 |
|
5,250,292 |
| |
|
|
|
|
Total assets |
16,477,015 |
|
16,920,810 |
| |
|
|
|
|
Equity |
|
|
|
|
Share
capital |
7,200,000 |
|
7,200,000 |
|
Legal
reserve |
1,991,531 |
|
1,818,400 |
|
General reserve |
2,500,000 |
|
2,500,000 |
|
proposed dividend |
1,296,000 |
|
720,000 |
|
Retained earnings |
551,715 |
|
102,751 |
| |
|
|
|
|
Total
equity |
13,539,246 |
|
12,341,151 |
| |
|
|
|
|
Liabilities |
|
|
|
|
Payable to PASI |
- |
|
1,591,145 |
| |
|
|
|
|
Total
non-current liabilities |
- |
|
1,591,145 |
| |
|
|
|
|
Payables and accruals |
2,937,769 |
|
2,791,014 |
|
Term
loan |
- |
|
197,500 |
| |
|
|
|
|
Total
current liabilities |
2,937,769 |
|
2,988,514 |
| |
|
|
|
|
Total liabilities |
2,937,769 |
|
4,579,659 |
| |
|
|
|
|
Total equity and liabilities |
16,477,015 |
|
16,920,810 |
| |
|
|
|
|
Net
assets per share |
1.880 |
|
1.714 |
| |
|
|
|
| |
|
|
TOP |
|
|
|
|
|
 |
