PEG Petards Group Plc

RNS No 7662q
PETALING TIN BERHAD
24th July 1998


Half yearly report on consolidated results for the six months ended 30/04/98.
The figures have hot been audited.

                                           GROUP                  COMPANY
                                     30-Apr-98  30-Apr97     30-Apr-98 30-Apr-97

MINING RESULTS

Output of tin concentrates  (tonnes)      -       19 (100%)      -         19
Sale of tin concentrates    (tonnes)      -        -             -         - 
Average price per tonne of tin
metal                        (RM)         -   10,450 (100%)      -     10,450
Average net price received 
per tonne of tin concentrates(RM)         -        -             -          - 

                                       RM'000  RM'000 CHANGE   RM'000   RM'000  

1(a) TURNOVER                            384       -    -        -          -  
 (b) Investment and other
 income excluding Extraordinary Items    226      279 (19%)      141     224 

2(a) Consolidated Operating Loss before 
Income Tax, Minority Interest and
Extraordinary items and 
after interest on                    (11,513)  (3,943) (192%)  (12,084) (3,864)
Borrowings, Depreciation and Amortisation 
(see note (i) and (ii) below)

(b) Income derived from Associated Company -        -     -       -          -

(c) Less Income Tax

(d) (i) Consolidated Operating Loss 
before deducting                      (11,513)  (3,943) (192%)  (12,084) (3,864)
Minority Interests

(ii) Less Minority Interests               -        -      -       -         -

(e) CONSOLIDATED OPERATING LOSS
ATTRIBUTABLE TO MEMBERS OF THE COMPANY (11.513) (3,943) (192%)  (12,084) (3,864)

(f) (i) Extraordinary Items                -       -               -         - 
   (ii) Less Minority Interests            -       -               -         - 
  (iii) Extraordinary Items attributable 
        to Members Of the Company          -       -               -         -

(g)  Consolidated Operating Loss 
     & Extraordinary
     Items attributable to Members 
     of the Company                    (11,513)  (3,943) (192%) (12,084) (3,864)

Note (i) Interest on Borrowings, including 
     interest on Bank Overdrafts,
     Charged as an expense                465       -              34        - 
    (ii) Depreciation including 
         Amortisation                     940      989             40       986

3 The Group has ceased its tin mining operation and hence, no sales of tin ore
were made. However, PTB Clay Products Sdn Bhd, a wholly-owned subsidiary,
commenced operations of its bricks manufacturing plant on 28 February 1998.
The substantial increase in losses compared to the corresponding period in the
previous year are due mainly to: 
i) provisions for amount owing from an associate company: 
ii) write off of stocks and pre-stripping expenditure incurred on mining in view
of the cessation of tin mining operations.

4 Loss in sen per share based on 2(e) 
after deducting there from provisions 
for preference dividends, if any.          57       20             60        19

5 There was no deferred tax and adjustments for under or over provisions in
respect of prior years 

6 There was no pre -acquisition profits.

7 There was no sale of investments and properties.

8 There was no rights or any issues of stock since the previous dividend was
  paid.

9 Following requests and indications from the relevant land and district office
and lessor of the mining land for the surrender of mining leases held, the
Company has made preparations during the period concerned to cease its tin
mining operations and related activities.  While the surrender of the said
leases is still pending, the Company is pursuing negotiations with the
relevant parties for compensation.

10 No decision regarding dividend has been made.

END

IR SEDFSLUAUFEW

Petards (LSE:PEG)
Historical Stock Chart
From Jun 2024 to Jul 2024

Petards (LSE:PEG)
Historical Stock Chart
From Jul 2023 to Jul 2024