| THE MAURITIUS DEVELOPMENT INVESTMENT TRUST CO
LTD (MDIT) |
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| Abridged Interim Report for the 6 months
ended 31 December 2005 (Rs 000) issued pursuant to Listing Rule 12.21 |
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| Unaudited Income
Statement |
6 Months |
6 Months |
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Unaudited Balance
Sheet |
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31/12/05 |
31/12/04 |
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31/12/05 |
30/06/05 |
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| Dividends
- In specie |
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1,945 |
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Assets |
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| - Other |
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18,468 |
20,501 |
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Investments |
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1,048,344 |
967,574 |
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| Interests
and other income |
3,307 |
4,990 |
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Current assets |
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61,429 |
80,400 |
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| Profit
on sale of listed investments |
25,154 |
15,904 |
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Total assets |
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1,109,773 |
1,047,974 |
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| Profit
on sale of other investments |
5,654 |
2,105 |
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| Surplus
on revaluation of investments |
97,921 |
55,947 |
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Equity and Liabilities |
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150,504 |
101,392 |
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Stated Capital |
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285,366 |
285,366 |
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| Expenses |
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(5,084) |
(4,297) |
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Reserves |
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774,718 |
697,332 |
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| Profit
before taxation |
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145,420 |
97,095 |
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Equity |
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1,060,084 |
982,698 |
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| Taxation |
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(980) |
(631) |
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Current liabilities |
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7,350 |
8,824 |
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| Profit after taxation |
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144,440 |
96,464 |
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Dividends proposed |
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42,339 |
56,452 |
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| Transfer
to revaluation reserve |
(97,921) |
(55,947) |
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Total equity and
liabilities |
1,109,773 |
1,047,974 |
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46,519 |
40,517 |
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| Transfer
to surplus on realisation of investments |
(5,654) |
(2,105) |
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40,865 |
38,412 |
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Net asset value per share |
6.01 |
5.57 |
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| Earnings
per share (Re) |
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0.82 |
0.55 |
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| Earnings
per share excluding revaluation surplus (Re) |
0.27 |
0.23 |
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Changes in
Equity Statement |
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| Unaudited Cash
Flow Statement |
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Balance at 1 July |
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982,698 |
952,049 |
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| Net
cash flows from operating activities |
21,113 |
31,653 |
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Surplus on revaluation of
investments |
97,921 |
55,947 |
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| Net
cash from investing activities |
45,015 |
23,700 |
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Realised surplus on sale
of shares |
5,654 |
2,105 |
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| Net
cash used in financing activities |
(56,452) |
(56,452) |
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Surplus realised on sale
of listed shares |
(24,715) |
(17,863) |
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| Net
increase/(decrease) in cash |
9,676 |
(1,099) |
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Net profit for the period |
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40,865 |
38,412 |
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| Cash
and cash equivalents at 1 July |
17,151 |
10,542 |
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Dividends proposed/paid |
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(42,339) |
(91,734) |
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| Cash
and cash equivalents at 31 December |
26,827 |
9,443 |
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Balance at 31 December |
1,060,084 |
938,916 |
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| The
financial statements are unaudited and have
been prepared in compliance
with International Financial
Reporting Standards using the same |
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| accounting
policies as for the year ended 30 June 2005. |
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| COMMENTS |
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| The profit after tax (excluding
revaluation surplus) went
up by Rs 6.0 M to Rs 46.5
M mainly due to the higher
profit on sale of listed investments |
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| being partly
offset by the
lower dividends received.
The improved earnings
to Re 0.27 per share
enabled the interim
dividend to be increased |
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| by
20% to Re
0.24. Net Asset
Value (NAV) per
share rose 13%
to reach Rs 6.01 at
31 December 2005 when the share price was Rs 6.05. |
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| The
Board of Directors accepts full responsibility for the accuracy of this
report which complies with International Financial Reporting Standards. |
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| This
report is available free of charge at MDIT's registered office. |
BBHM
(Management & Consultancy) Ltd -
Managers & Secretaries
- 24 March 2006 |
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