1st Quarter Results

ZCCM Invs.Hldgs PLC 29 December 2005 ZCCM Investments Holdings Plc Incorporated in the Republic of Zambia Directors' Quarterly Summary incorporating Financial Results for the quarter ended 30 September 2005 DIRECTORS Mr G K Chibuye (Non-Executive) Chairman of the Board Dr S Musokotwane Director Mr L Nkhata Director Mr G P Mukala Director Dr D H Kalyalya Director Mr E Mutale Director Mrs L I Ng'andwe Director Management Committee General Manager Vacant Company Secretary Mr W S Musama Acting Chairman Technical Investments Manager Mr J M D Patterson Finance and Investments Manager Mr Z Zekko Legal Investments Manager Mr J K Kaite Technical Investments Officer Mr W K Katoto Environmental Manager Mr J Makumba Financial Analyst Mr K K Mulaisho Committee Secretary ZCCM INVESTMENTS HOLDINGS PLC And its subsidiary companies DIRECTORS' QUARTERLY SUMMARY ZCCM-IH Group turnover of K30,305 million was achieved during the quarter ended 30 September 2005 compared to K33,422 million at 30 September 2004. Group operational expenditure was K32,771 million compared to K33,697 million last year. A net operating profit of K40,234 million was recorded in the quarter, compared to the loss of K6,990 million incurred in the corresponding quarter of the previous year. The profit reported was mainly on account of exchange gains of K36,962 million compared to the exchange loss of K13,387 million at 30 September 2004. Subsequent to quarter end,the Mine Township Services Project (MTSP)comes to an end on 31 December 2005. AHC - Mining Municipal Services Limited, a 100% owned subsidiary of ZCCM-IH, which has been the executing agency of the MTSP is to be handed over to the District Councils through Nkana Water and Sewarage Company.This is in accordance with the Exit Strategy of the MTSP formulated pursuant to the Local Government and Housing Ministerial guidelines issued on 4 May 2005, as a consequence of the Government of the Republic of Zambia and World Bank Loan Agreement dated 27 July 2000. By order of the Board W S Musama Company Secretary Lusaka 14 December 2005 ZCCM INVESTMENTS HOLDINGS PLC GROUP PROFIT/( LOSS) ACCOUNT FOR THE QUARTER ENDED 30 SEPTEMBER 2005 QUARTER ENDED QUARTER ENDED 30 Sept 2005 30 Sept 2004 notes K' million K' million Turnover 1 30,305 33,422 Cost of Turnover 2 (32,771) (33,697) Operating profit/ (2,466) (275) (loss) Other income 9,586 6,731 Exchange gain/(loss) 36,962 (13,387) Environmental (3,496) (2,348) expenses Interest charge (270) (199) Interest income 787 366 Dividend 1,168 4,345 receivable Royalty on (408) (464) minerals Exceptional Item 3 - Profit/(loss) before taxation 41,863 (5,231) Income tax (1,629) (1,759) Retained profit/ 40,234 (6,990) (loss) Notes: 1 Represents Turnover for the Company and its subsidiaries. 2 Represents Cost of Turnover, which includes Administrative costs, for the Company and its subsidiaries. 3 The exchange rates applied are : 30 Sept 2005 US$ = K4492 30 Sept 2004 US$ = K4923 30 June 2005 US$ = K4698 4 ZCCM INVESTMENTS HOLDINGS PLC GROUP BALANCE SHEET As at 30 Sept 2005 As at 30 Sept 2004 K' million K' million Current assets Bank & cash 84,427 63,143 Inventories 28,063 14,506 Metal debtors 0 0 Other debtors 420,832 330,207 -------------- --------------- Total current assets 533,322 407,856 Current liabilities Creditors (54,285) (44,421) Overseas 0 0 Provisions (316,770) (287,675) 0 0 Taxation (5,306) (3,421) Bank overdraft 0 0 -------------- --------------- Total current liabilities (376,361) (335,517) Net current assets/(liabilities) 156,961 72,339 Long term receivables 59,903 83,372 Investments 368,662 450,356 Fixed assets 117,210 83,486 Long term borrowings (1,246,506) (1,385,858) Grants/others (4,174) (16,065) Subordinated loan (865,445) (865,445) -------------- --------------- Total Net Liabilities (1,413,390) (1,577,815) -------------- --------------- Financed by: Share capital 913 909 Reserves (1,414,303) (1,578,724) -------------- --------------- Total shareholders' funds (1,413,390) (1,577,815) -------------- --------------- ZCCM INVESTMENTS HOLDINGS PLC GROUP CASH FLOW STATEMENT Quarter ended Quarter ended 30 Sept '05 30 Sept '04 K' million K' million Operating activities Cash received from customers 36,564 31,016 Cash paid to suppliers and employees (41,362) (24,827) ---------- ---------- Net cash generated from operating (4,798) 6,189 activities Interest received and other operating 3,240 514 income Interest paid (398) (243) Taxation paid (924) (424) ---------- ---------- 1,918 (153) Net cashflow from operating activities (2,880) 6,036 Investing activities Purchase of fixed assets (9,708) (6,848) Proceeds from sale of fixed assets 0 Proceeds from sale of operating units 0 438 ---------- ---------- Proceeds from sale of operating units 438 (9,708) (6,410) Financing activities Long term borrowings received 0 2,913 Long term borrowings paid (544) (388) Short term borrowings received 0 - Short term borrowings paid 0 - Grants 19,605 9,237 ---------- ---------- Net cashflow from investing activities 19,061 11,762 Dividend received 0 4,345 ---------- ---------- 19,061 16,107 Net cash inflow/(outflow) for period 6,473 15,733 ---------- ---------- Cash balances at start of period Cash and bank balances 77,954 47,410 ---------- ---------- Bank overdrafts 0 (131) ---------- ---------- 77,954 47,279 Cash balances at end of period Cash and bank balances 84,427 63,143 ---------- ---------- Bank overdrafts 0 - ---------- ---------- 84,427 63,143 CORPORATE LOCATIONS Registered Office UK Registrars Mukuba Pension House CAPITA IRG Plc First Floor Bourne House 5309 Dedan Kimathi Road 34 Beckenham Road P O Box 30048 Beckenham LUSAKA Kent BR3 4TU Lusaka, 10101, Zambia England Tel Numbers 260 (01) 221023 Tel No. 020 8639 2000 220351 Fax No. 020 8658 3430 220654 228833 Depository for American Shares Fax Numbers 260 (01) 221057 JP Morgan Chase & Co 220449 60 Wall Street 220727 New York, NY 10260-0060 United States of America E-mail:corporate@zccm-ih.com.zm Tel No. 001 212 648 3207 Kitwe Office Fax No. 001 212 648 5104/5 Investments House Kantanta Street P O Box 20172 Kitwe Tel Numbers 260 (02) 245018 245054 245142 245126 245320 Fax Numbers 260 (02) 245363 245364 245473 E-mail:corporate@zccm-ih.com.zm 7 This information is provided by RNS The company news service from the London Stock Exchange

Companies

ZCCM Investments Holdings 'B' Shares (ZCC)
UK 100
FTSE quotes by TradingView

Latest directors dealings

All directors dealings today