- Astra Industries Limited reported group audited results for the 12 months ended 31 August 2013. Sales volumes grew 20% but gross margins declined from 35% to 33% due to increased competition and rising input costs. Operating profit declined 29% and profit after tax declined 22% compared to the prior year.
- In July 2013, Finance Trust of Zimbabwe disposed of their entire 23.25% stake in Astra Industries Limited. These shares are now held by Karsan Plastics Africa Limited (38.25%) and Tenlistar Investments (Private) Limited (25%).
- As a result of changes in major shareholders, the Board of Directors was reconstituted on 25 July 2013 with new directors appointed
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ASTR Audited Results For The Twelve Months Ended 31 Aug 13
- Astra Industries Limited reported group audited results for the 12 months ended 31 August 2013. Sales volumes grew 20% but gross margins declined from 35% to 33% due to increased competition and rising input costs. Operating profit declined 29% and profit after tax declined 22% compared to the prior year.
- In July 2013, Finance Trust of Zimbabwe disposed of their entire 23.25% stake in Astra Industries Limited. These shares are now held by Karsan Plastics Africa Limited (38.25%) and Tenlistar Investments (Private) Limited (25%).
- As a result of changes in major shareholders, the Board of Directors was reconstituted on 25 July 2013 with new directors appointed
Original Description:
ASTR | Audited results for the twelve months ended 31 Aug 13
Original Title
ASTR Audited Results for the Twelve Months Ended 31 Aug 13
- Astra Industries Limited reported group audited results for the 12 months ended 31 August 2013. Sales volumes grew 20% but gross margins declined from 35% to 33% due to increased competition and rising input costs. Operating profit declined 29% and profit after tax declined 22% compared to the prior year.
- In July 2013, Finance Trust of Zimbabwe disposed of their entire 23.25% stake in Astra Industries Limited. These shares are now held by Karsan Plastics Africa Limited (38.25%) and Tenlistar Investments (Private) Limited (25%).
- As a result of changes in major shareholders, the Board of Directors was reconstituted on 25 July 2013 with new directors appointed
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ASTR Audited Results For The Twelve Months Ended 31 Aug 13
- Astra Industries Limited reported group audited results for the 12 months ended 31 August 2013. Sales volumes grew 20% but gross margins declined from 35% to 33% due to increased competition and rising input costs. Operating profit declined 29% and profit after tax declined 22% compared to the prior year.
- In July 2013, Finance Trust of Zimbabwe disposed of their entire 23.25% stake in Astra Industries Limited. These shares are now held by Karsan Plastics Africa Limited (38.25%) and Tenlistar Investments (Private) Limited (25%).
- As a result of changes in major shareholders, the Board of Directors was reconstituted on 25 July 2013 with new directors appointed
Copyright:
Attribution Non-Commercial (BY-NC)
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Download as PDF, TXT or read online from Scribd
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ASTRAINDUSTRIES LIMITED
F0R ThE 12 H0NTh8 EN0E0 31 AUCU8T 2013
CR0UP AU0|TE0 RE8ULT8 B A R K L R S A I 2 0 2 5 60N80L|0ATE0 8TATEHENT 0F 6hANCE8 |N 8hAREh0L0ER8' E0U|TY F0R ThE 12 H0NTh8 EN0E0 31 AUCU8T 2013 Propert|es 8hare Non- 8hare 8hare reva|uat|on opt|ons Reta|ned contro|||ng Tota| cap|ta| prem|um reserve reserve earn|ngs Tota| |nterests equ|ty U8$ U8$ U8$ U8$ U8$ U8$ U8$ U8$ a|ance as at 31 August 2011 1,397,291 6,255,100 2,550,777 61,855 1,640,968 11,905,991 81,943 11,987,934 Tola| corpre|ers|ve |rcore lor l|e year - - 1Z8,5Z - 1,153,132 1,31,99 3Z,111 1,9,113 0|v|derds pa|d lo ouls|de s|are|o|ders - - - - - - (5,ZZ) (5,ZZ) Recogr|l|or ol s|are oased payrerls - - - 15,158 - 15,158 - 15,158 a|ance as at 31 August 2012 1,397,291 6,255,100 2,729,344 77,013 3,094,100 13,552,848 113,581 13,666,429 Tola| corpre|ers|ve |rcore lor l|e year - - - - 1,15Z,2 1,15Z,2 5,122 1,12,Z81 3|are opl|ors exerc|sed 2,50 11,129 - (Z,929) - ,150 - ,150 0|v|derds pa|d lo ouls|de s|are|o|ders - - - - - - (,32Z) (,32Z) 0|v|derds pa|d lo oWrers ol l|e corpary - - - - (251,509) (251,509) - (251,509) a|ance as at 31 August 2013 1,399,941 6,266,529 2,729,344 69,084 4,000,253 14,465,151 112,376 14,577,527 6hA|RHAN'8 8TATEHENT Cenera| Performance 0perat|ons Pa|nts 6hem|ca|s Hajor 8hareho|der's 0|sposa| of 8hares |nthe 6ompany 0|rectorsh|p6hanges F|nanc|a| Year End6hange 0|v|dend0ec|arat|on 0ut|ook Y 0R0ER 0FThE 0AR0 T|e racro-ecoror|c c|a||erges exper|erced |r prev|ous years pers|sled l||s per|od, ard Were lurl|er aggravaled oy l|e locus or e|ecl|ors resu|l|rg |r l|e per|od urder rev|eW oe|rg c|aracler|sed oy s|gr|l|carl s|oWdoWr |r ous|ress courlryW|de. 3a|es vo|ures greW oy Z. 0ross rarg|rs, |oWever, care urder pressure reduc|rg lror 35 lo 33 due lo |rcreased corpel|l|or ard r|s|rg |rpul cosls, parl|cu|ar|y |r l|e C|er|ca|s ous|ress. 0peral|rg prol|l al S1.5 r||||or Was regal|ve|y |rpacled oy |rcreased se|||rg ard adr|r|slral|ve experses parl|cu|ar|y Wages, ard Was 29doWr lror |asl year. loWever, l|e drop |r prol|l aller lax Was ||r|led lo 22|oWer l|ar |asl year as a resu|l ol reduced l|rarce cosls. 0|ver l|e d|ll|cu|l racro-ecoror|c erv|rorrerl l||s perlorrarce |s reverl|e|ess acceplao|e. 3a|es vo|ures dec||red oy 5 corpared lo |asl year pr|rar||y oW|rg lo l|e lacl l|al a ruroer ol corslrucl|or projecls Were pul or |o|d due lo l|e e|ecl|ors. Corpel|l|or lor l|e ava||ao|e sra|| rar|el Was |rlerse lror |oca| producers ard |rporls. 0ross prol|l rarg|rs Were ra|rla|red al l|e sare |eve| as |asl year. 3a|es vo|ures greW oy 9oul al reduced rarg|rs. 0esp|le l|e groWl| |r vo|ures, l|ey Were sl||| oe|oW acceplao|e |eve|s due lo s|oW recovery ol l|e rarulaclur|rg seclor ard ||qu|d|ly c|a||erges |r l|e ecorory. lr Ju|y 2013, F|rarce Trusl ol Z|roaoWe d|sposed ol l|e|r erl|re sla|e ol 3.25|r Aslra lrduslr|es L|r|led. T|ese s|ares are roW |e|d oy Karsa| P|ascor Alr|ca L|r|led (38.25) ard ler|slar lrveslrerls (Pr|vale) L|r|led (25). ler|slar lrveslrerls (Pr|vale) L|r|led |s ar |rveslrerl corpary oWred 51 oy Aslra lrduslr|es L|r|led raragererl ard slall ard 19oy Karsa| P|ascor Alr|ca L|r|led. T|e rardalory oller lo r|ror|l|es W||| oe rade oy 18 Ju|y 2011. Corpel|l|or ard Tar|ll Corr|ss|or as We|| as l|ra| lrd|ger|sal|or approva|s are arl|c|paled s|orl|y. As a resu|l ol l|e c|arges |r rajor s|are|o|ders, l|e 8oard ol 0|reclors Was recorsl|luled or l|e 25l| ol Ju|y 2013 as lo||oWs: Vessrs E.J. 0av|es T.V. Jo|rsor ard v.w. Z|reva, Prolessor R. Vurapa ard Vrs A.R. C||raro res|gred lror l|e 8oard. 0r. C.V.8. ulele ard Vr. l. N|a|a rera|red as d|reclors. VessrsA.8.C. C||ra|e, E. Vo|ared ard 0.A. T|oras Were appo|rled lo l|e 8oard. T|e |rcor|rg 8oard |s gralelu| lor l|e sleWards||p ard |eaders||p s|oWr oy l|e lorrer 8oard C|a|rrar, 0r. C.V.8. ulele, ard ||s lear ard W|s|es l|er a|| l|e oesl |r l|e lulure. Vr. A.8.C. C||ra|e Was appo|rled 8oard C|a|rrar.
Posl l|e rajor s|are|o|ders c|arges, l|e 0roup soug|l approva| lo c|arge |ls year erd. T|e Z|roaoWe 3loc| Exc|arge ard Z|roaoWe Reverue Aul|or|ly approved l|e c|arge ol year erd lo 0eceroer. T|e 0roup W||| l|erelore rur a 1 rorl| l|rarc|a| per|od lo 31 0eceroer 2013. 0|ver l|e ||qu|d|ly c|a||erges ard l|e 0roup's Wor||rg cap|la| reeds, l|e 0|reclors reso|ved rol lo dec|are a d|v|derd. T|e ecorory ray exper|erce sore recovery posl e|ecl|ors. T|e slraleg|c a|||arce W|l| Karsa| P|ascor, W|o roW |ave a s|gr|l|carl sla|e |r l|e ous|ress, ollers opporlur|l|es |r lerrs ol |rlroduc|rg l|e P|ascor l|ags||p producls, deve|op|rg exporl rar|els ard operal|ora| syrerg|es |r l|e pa|rls ous|ress. lr add|l|or lo exp|o|l|rg l|ese opporlur|l|es, l|e 0roup W||| corl|rue lo locus or cosl corla|rrerl ard ell|c|erl Wor||rg cap|la| raragererl lo creale va|ue lor |ls s|are|o|ders. Astra ho|d|ngs L|m|ted8ecretar|es Reg|stered0ff|ce 19 Noveroer 2013 Aslra Pa|rls, 11 8urr|ey Road, wor||rglor P.0. 8ox l0300, l|g||ards larare 0|rectors: A.8.C C||ra|e (C|a|rrar), 0r. C.V.8 ulele, l. N|a|a, V. Vaz|roe (Varag|rg 0|reclor), E. Vo|ared, 0.AT|oras, l.V N|erde Execul|ve N0TE8 T0ThE AU0|TE0 RE8ULT8 1 8tatement of account|ngpo||cy
2 6urrency of report|ng 3 Non-current assets c|ass|f|edas he|dfor sa|e 31-Aug-13 31-Aug-12 U8$ U8$ 4 8upp|ementary |nformat|on 12 months 12 months ended ended 31-Aug-13 31-Aug-12 U8$ U8$ 4.1 Adjustment for non-cash|tems 4.2 6omm|tments for cap|ta| expend|ture author|sedbut not contracted T|e l|rarc|a| resu|ls are |r corp||arce W|l| lrlerral|ora| F|rarc|a| Reporl|rg 3lardards (lFR3) ard l|e Z|roaoWear Corpar|es Acl, C|apler (21:03} as arerded ard l|e accourl|rg po||c|es are cors|slerl W|l| l|ose app||ed |r l|e pr|or year. T|ese l|rarc|a| resu|ls s|ou|d oe read |r corjurcl|or W|l| l|e corp|ele sel ol l|rarc|a| slalererls lor l|e 12 rorl|s erded 31 Augusl 2013, W||c| |ave oeer aud|led oy 0e|o|lle & Touc|e ard ar urrod|l|ed aud|l op|r|or |ssued l|ere|r. T|e aud|lors' reporl or l|ese l|rarc|a| slalererls |s ava||ao|e lor |rspecl|or al l|e Corpary's reg|slered oll|ce. T|e l|rarc|a| slalererls Were preserled |r ur|led 3lales do||ars W||c| |s l|e lurcl|ora| currercy ol l|e 0roup. Volor ve||c|e, corpulers ard equ|prerl 200 200 200 200 T|e properly, p|arl ard equ|prerl lror l|e d|scorl|rued Aslra 3lee| 0|v|s|or Were so|d |r Apr|| 2012, excepl lor a 30 lorrer lra||er W||c| W||| oe so|d |r l|e 2011 l|rarc|a| year. 0eprec|al|or ol properly, p|arl ard equ|prerl c|arged lo accourls 09,531 528,993 lrpa|rrerl ol properly, p|arl ard equ|prerl c|arged lo accourls - 13,029 8ad deols recovered (103,13) - Fa|r va|ue ga|r or |rveslrerl properl|es (9,000) (230,000) 3|are-oased payrerl experse - 15,158 Prol|l or d|sposa| ol properly, p|arl ard equ|prerl (3,5Z9) (22,301) Reversa| ol |rpa|rrerl |oss/(|rpa|rrerl |oss) or lrade rece|vao|es 8,81 (105,Z3) Loss or d|sposa| ol ror-currerl assels c|ass|l|ed as |e|d lor sa|e - 31,852 0|v|derds payao|e lo ror-corlro|||rg s|are|o|ders - (5,ZZ) urrea||sed exc|arge (ga|rs)/|osses (5Z,220) 55,95 (0ecrease)/|rcrease |r prov|s|ors (2,293) 9,0Z 100,8Z 323,521 Z23,ZZ1 1,21,58 F|NAN6|AL h|ChL|ChT8 12 months 12 months ended ended 31-Aug-13 31-Aug-12 Notes U8$ U8$ Revenue 8TATEHENT 0F 60HPREhEN8|VE |N60HE F0R ThE 12 H0NTh8 EN0E0 31-Aug-13 31-Aug-12 U8$ U8$ Revenue 0perat|ng prof|t Prof|t before taxat|on Prof|t for the year attr|butab|e to: 0ThER 60HPREhEN8|VE |N60HE Tota| comprehens|ve |ncome for the per|od Tota| comprehens|ve |ncome attr|butab|e to: 60N80L|0ATE0 8TATEHENT 0F F|NAN6|AL P08|T|0N A8 AT 31-Aug-13 31-Aug-12 U8$ U8$ A88ET8 6urrent assets Tota| current assets Tota| assets E0U|TY & L|AL|T|E8 6ap|ta| and reserves Tota| equ|ty Non-current ||ab|||t|es 6urrent ||ab|||t|es Tota| current ||ab|||t|es Tota| ||ab|||t|es Tota| equ|ty & ||ab|||t|es 60N80L|0ATE0 8TATEHENT 0F 6A8h FL0w8 F0R ThE 12 H0NTh8 EN0E0 31-Aug-13 31-Aug-12 U8$ U8$ 6ash f|ows from operat|ng act|v|t|es 6ash generated from operat|ons Net cash generated by operat|ng act|v|t|es 6ash used |n |nvest|ng act|v|t|es Net cash used |n |nvest|ng act|v|t|es 6ash f|ows from f|nanc|ng act|v|t|es Net cash used |n f|nanc|ng act|v|t|es (0ecrease}||ncrease |n cash and cash equ|va|ents 6ash and cash equ|va|ents at the beg|nn|ng of the per|od 6ash and cash equ|va|ents at the end of the per|od 28,0Z9,Z9 2Z,18,10 0peral|rg prol|l 1,51Z,50 2,118,2Z Prol|l allr|oulao|e lo s|are|o|ders ol l|e Corpary 1,15Z,2 1,153,132 we|g|led average ruroer ol s|ares |r |ssue 139,811,99 139,Z29,13 8as|c earr|rgs per s|are- (cerls) 0.83 1.01 0||uled earr|rgs per s|are - (cerls) 0.81 1.02 28,0Z9,Z9 2Z,18,10 1,51Z,50 2,118,2Z F|rarce |rcore 95,Z90 10,058 F|rarce cosls (101,1Z5) (188,Z10) 1,509,121 1,999,915 lrcore lax experse (31,33Z) (509,399) Prol|l lor l|e per|od 1,12,Z81 1,190,51 0Wrers ol l|e Corpary 1,15Z,2 1,153,132 Nor-corlro|||rg |rleresls 5,122 3Z,111 1,12,Z81 1,190,51 Tax ellecl ol c|arge |r rarrer ol recovery ol |rveslrerl properly - ,512 0a|r or reva|ual|or ol properly, p|arl ard equ|prerl - 11Z,921 0elerred lax ellecl or reva|ual|or ga|r - (5,89) Tola| ol|er corpre|ers|ve |rcore lor l|e per|od - 1Z8,5Z 1,12,Z81 1,9,113 0Wrers ol l|e Corpary 1,15Z,2 1,31,99 Nor-corlro|||rg |rleresls 5,122 3Z,111 1,12,Z81 1,9,113