| MON TRESOR AND
MON DESERT LIMITED
(MTMD) |
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| ABRIDGED
UNAUDITED PRELIMINARY REPORT FOR
THE YEAR ENDED
31 DECEMBER 2005
(RS 000) ISSUED PURSUANT TO LISTING RULE
12.20 |
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Group |
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Company |
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Group |
Company |
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2,002 |
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2,002 |
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Year to |
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Year to |
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| 1. |
Income statement |
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31/12/05 |
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31/12/04 |
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31/12/05 |
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31/12/04 |
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2. |
Balance sheet |
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31/12/05 |
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31/12/04 |
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31/12/05 |
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31/12/04 |
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Turnover |
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436,815 |
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419,857 |
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353,524 |
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345,329 |
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Non-current assets |
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Property, plant and
equipment |
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1,213,205 |
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1,234,522 |
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1,107,048 |
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1,122,656 |
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Operating
profit |
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70,696 |
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72,083 |
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68,322 |
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77,602 |
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Investment properties |
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17,805 |
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37,533 |
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17,805 |
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37,533 |
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Standing cane movement |
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(800) |
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48,738 |
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6,013 |
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30,567 |
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Investments in
subsidiaries |
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- |
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- |
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542,314 |
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554,302 |
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69,896 |
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120,821 |
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74,335 |
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108,169 |
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Investments in associates |
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406,630 |
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349,578 |
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119,849 |
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39,300 |
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Amortisation of
intangible assets |
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(25,264) |
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(26,963) |
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(22,261) |
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(18,250) |
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Other investments |
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226,089 |
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245,615 |
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223,940 |
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243,533 |
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Mill closure premium |
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- |
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10,000 |
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- |
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- |
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Biological assets |
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165,332 |
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152,727 |
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131,397 |
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119,976 |
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Dividend income |
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19,783 |
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19,622 |
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38,099 |
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77,049 |
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Intangible assets |
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75,480 |
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64,777 |
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- |
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- |
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Net financing income |
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16,148 |
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4,983 |
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1,959 |
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(6,465) |
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Deferred expenditure |
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37,801 |
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43,082 |
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34,719 |
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36,926 |
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Profit before exceptional
items |
80,563 |
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128,463 |
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92,132 |
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160,503 |
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Deferred tax asset |
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- |
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3,210 |
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- |
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1,869 |
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Share of result of
associate |
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22,253 |
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16,271 |
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- |
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- |
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2,142,342 |
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2,131,044 |
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2,177,072 |
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2,156,095 |
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Exceptional items |
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258,191 |
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184,520 |
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258,191 |
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184,520 |
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Current assets |
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949,985
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904,917 |
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922,776 |
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852,010 |
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Profit before taxation |
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361,007 |
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329,254 |
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350,323 |
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345,023 |
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3,092,327 |
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3,035,961 |
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3,099,848 |
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3,008,105 |
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Taxation |
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(19,415) |
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(2,289) |
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(14,673) |
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(1,562) |
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Profit after taxation |
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341,592 |
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326,965 |
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335,650 |
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343,461 |
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Stated capital |
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795,043 |
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795,043 |
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795,043 |
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795,043 |
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Minority interests |
(3,163) |
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(4,562) |
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- |
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- |
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Reserves |
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1,512,276 |
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1,591,128 |
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1,475,569 |
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1,557,311 |
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Net profit attributable
to shareholders |
338,429 |
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322,403 |
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335,650 |
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343,461 |
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Shareholders' interest |
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2,307,319 |
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2,386,171 |
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2,270,612 |
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2,352,354 |
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Minority interests |
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92,905 |
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102,127 |
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- |
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- |
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Earnings per share
(rupees) |
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5.05 |
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4.81 |
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5.01 |
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5.13 |
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Non-current liabilities |
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511,144 |
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193,092 |
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150,567 |
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157,423 |
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Current liabilities |
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180,959 |
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354,571 |
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678,669 |
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498,328 |
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| 3. |
Changes in equity
statement |
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3,092,327 |
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3,035,961
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3,099,848 |
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3,008,105 |
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Opening balance |
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2,386,171 |
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2,204,031 |
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2,352,354 |
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2,149,756 |
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Fair value decrease |
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(15,209) |
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60,774 |
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(15,320) |
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60,174 |
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4. |
Cash flow statement |
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Net profit attributable
to shareholders |
338,429 |
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322,403 |
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335,650 |
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343,461 |
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Dividends |
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(402,072) |
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(201,037) |
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(402,072) |
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(201,037) |
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Net cash flow from
operating activities |
(54,026) |
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449,010 |
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(113,765) |
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420,124 |
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Closing balance |
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2,307,319 |
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2,386,171 |
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2,270,612 |
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2,352,354 |
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Net cash flow from
investing activities |
194,833 |
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323,743 |
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251,420 |
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346,884 |
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Net cash flow from
financing activities |
(259,573) |
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(661,677) |
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(251,781) |
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(655,097) |
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Net (decrease)/increase |
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(118,766) |
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111,076 |
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(114,126) |
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111,911 |
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| 5. |
Segment information |
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Total |
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Sugar |
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Non-Sugar |
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Cash and cash equivalents at
beginning |
122,108 |
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11,032 |
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116,365 |
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4,454 |
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Turnover |
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Cash and cash equivalents
at end |
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3,342 |
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122,108 |
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2,239 |
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116,365 |
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Year ended - 31/12/05 |
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436,814 |
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382,369 |
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54,445 |
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- 31/12/04 |
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420,037 |
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370,062 |
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49,975 |
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6. |
Comments |
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Operating profit before
interest |
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Group turnover rose 4% to
reach Rs 436.8 M but
operating profit declined
slightly
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Year ended - 31/12/05 |
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70,696 |
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61,113 |
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9,583 |
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by Rs 1.4 M
owing to a significant drop in potato profit. Standing cane movement was |
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- 31/12/04 |
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72,083 |
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61,398 |
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10,685 |
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substantially lower
due to the estimated
sugar price decline of 2% in
2006 compared to |
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6% rise in 2005. |
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The above
accounts are unaudited and have been prepared in compliance with International |
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Group earnings
per share rose
to Rs 5.05 after
incorporating Rs 220 M of
exceptional |
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Financial Reporting
Standards. |
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profit on
the higher 30%
deposits received for
the Ebene morcellement which also |
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MTMD
Board of Directors accepts full responsibility for the accuracy of the
information contained |
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increased net financing
income by Rs 11.2 M |
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in this report which is
available free of charge at its
registered office. |
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BBHM
(Management & Consultancy) Ltd
- Managers &
Secretaries 27 March 2006 |
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(3,368) |
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