Interim Results

28th Nov 2008 07:00



NAMIBIAN RESOURCES PLC

INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 AUGUST 2008 

  

NAMIBIAN RESOURCES PLC

INTERIM RESULTS

FOR THE 6 MONTHS ENDED 31 AUGUST 2008

 

Summarised Income Statement				6 Months Ended		6 Months Ended		Year Ended
				31-Aug-08		31-Aug-07		29-Feb-08
				(Unaudited)		(Unaudited)		(Audited)
				GBP £		GBP £		GBP £
Turnover				71,782		77,785		140,622
Cost of Sales				(100,095)		(29,976)		(234,943)
Gross (Loss)/Profit				(28,313)		47,809		(94,321)
Administrative Expenses				(168,123)		(162,463)		(210,317)
Operating (Loss)				(196,436)		(114,654)		(304,638)
Interest Received				375		6,933		6,470
Interest Payable				-		-		-
Net (Loss) for the period				(196,061)		(107,721)		(298,168)
(Loss) per Share				(0.49)		(0.30)		(0.78)
Total Number of Shares in Issue				39,922,460		37,922,460		39,922,460

  

NAMIBIAN RESOURCES PLC

INTERIM RESULTS

FOR THE 6 MONTHS ENDED 31 AUGUST 2008

Summarised Balance Sheet					6 Months Ended 31 August 2008 (Unaudited) GBP£			6 Months Ended 31 August 2007 (Unaudited) GBP£			Year Ended 29 February 2008 (Audited) GBP£
ASSETS
Non - Current Assets					1,864,648			1,963,299			1,830,605
Tangible Assets					910,325			1,136,562			970,106
Intangible Assets - Mining Rights					954,323			826,737			860,499
Current Assets -
Stock					32,673			35,948			32,673
Debtors					30,304			17,370			26,363
Cash in the bank & in hand					53,737			133,735			103,500
					116,714			187,053			162,536
Current Liabilities -
Creditors & Accruals					(235,402)			(39,341)			(51,120)
Net Current Assets/(Liabilities)					(118,688)			147,712			111,416
Total Assets					1,745,960			2,111,011			1,942,021
Equity and Liabilities
Share Capital					3,992,246			3,792,246			3,992,246
Share Premium Accounts					359,384			359,384			359,384
Retained Earnings					(2,705,232)			(2,040,619)			(2,509,171)
Foreign Exchange Reserve					99,562			-			99,562
Total Equity and Liabilities					1,745,960			2,111,011			1,942,021
NOTES TO THE FINANCIAL INFORMATION
1.	The interim results are unaudited and do not comprise full accounts within the meaning of
	Section 240 of the Companies Act 1985.
2.	No interim dividend is being paid or proposed.
3.	Earnings per share have been calculated on ordinary shares in issue.
4.	Creditors and Accruals. This includes the sum of £205,000 deposited with the company at no interest.
	This sum is to be converted into ordinary shares in the company if the capital reconstruction proposed at
	the General Meeting on the 1st December 2008 is approved.

 

 

  

NAMIBIAN RESOURCES PLC

INTERIM RESULTS

FOR THE 6 MONTHS ENDED 31 AUGUST 2008

Cash Flow Statement				6 Months Ended 31 August 2008 (Unaudited) GBP £		6 Months Ended 31 August 2007 (Unaudited) GBP £		Year Ended 29 February 2008 (Audited) GBP £
Net Cash inflow/(outflow) from Operating Activities
Operating (Loss)				(196,436)		(114,654)		(304,638)
Depreciation of Tangible & Intangible Assets				71,808		78,989		133,590
(Increase)/Decrease in Debtors				(3,941)		6,148		(2,845)
(Decrease)/Increase in Creditors				184,282		1,494		13,273
Decrease/(Increase) in stock				-		-		3,275
Net Effect of Foreign Exchange Differences				-		-		86,797
				55,713		(28,023)		(70,548)
Returns on Investment & Servicing of Finance
Interest Received				375		6,933		6,470
Capital Expenditure
Payments to Acquire Tangible Fixed Assets				(5,757)		(30,268)		(4,610)
Payments to Acquire Intangible Fixed Assets				(100,094)		(187,095)		-
Net Cash (outflow) before management
of Liquid Resources & Financing				(49,763)		(238,453)		(68,688)
Financing -
Issue of Ordinary Share Capital				-		-		200,000
(Decrease) in Cash during the Period				(49,763)		(238,453)		(268,688)
				(49,763)		(238,453)		(68,688)

ENDIR FEAFIWSASEDF

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Related Shares:

NBR.L