EX-6 8 dex6.htm APPENDIX 4B HALF YEARLY REPORT ENDED 31 DEC 2002 Appendix 4B half yearly report ended 31 Dec 2002

Exhibit 6

HALF YEARLY REPORT

Name of entity

MAYNE GROUP LIMITED

ABN

 

Half yearly
(tick)

Preliminary
final (tick)

 

Half year/financial year ended
(‘current period’)
 

 
56 004 073 410
 

x

 

 

Half year ended 31 December 2002

For announcement to the market

Extracts from this statement for announcement to the market (see note1).

 
 

 

 

 

 

$A’000
 
 

 

 

 

 
Revenues from ordinary activities (item 1.1)
 

46.3% up

 

to

 

3,309,246
Sales revenue
 

28.3% up

 

to

 

2,850,131
Profit (loss) from ordinary activities after tax (before amortisation of goodwill) attributable to members (item 1.20)
 

111.0% down

 

to

 

(13,302)
Profit (loss) from ordinary activities after tax attributable to members (item 1.23)
 

160.0% down

 

to

 

(57,702)
Profit (loss) from extraordinary items after tax attributable to members (item 2.5)
 

gain (loss) of

 

 

 

Nil
Net profit (loss) for the period attributable to members (item 1.11)
 

160.0% down

 

to

 

(57,702)
Profit after tax before significant items attributable to members
 

64.0% down

 

to

 

33,057
Profit after tax before significant items attributable to members - continuing businesses
 

41.9% down

 

to

 

40,989
Profit after tax before significant items attributable to members – discontinuing businesses
 

137.0% down

 

to

 

(7,932)

Dividends (distributions)

 

Amount per security

 

Franked amount per security

 

 

 

 

Interim dividend (item 15.6)

 

4.0

¢

0.0

¢

Previous corresponding period (item 15.7)

 

6.0

¢

6.0

¢

 

 

 

 

 

 

Record date for determining entitlements to the dividend, (in case of a trust, distribution) (see item 15.2)

 

11 March 2003

 

 

 

 

 

Brief explanation of omission of directional and percentage changes to profit in accordance with Note 1 and short details of any bonus or cash issue or other item(s) of importance not previously released to the market:

-1-

Consolidated statement of financial performance

 
 

 

Current period
$A’000

 

Previous corresponding
period - $A’000

 

 
 

 

 

 
1.1
Revenues from ordinary activities(see items 1.24 – 1.26)

 

 

3,309,246

 

 

2,262,150

 
1.2
Expenses from ordinary activities (see items 1.27 – 1.28)

 

 

(3,322,514

)

 

(2,117,680

)
1.3
Borrowing costs

 

 

(26,939

)

 

(23,260

)
1.4
Share of net profit (loss) of associates and joint venture entities (see item 16.7)

 

 

542

 

 

265

 
 
 

 

 

 
1.5
Profit (loss)  from ordinary activities before tax

 

 

(39,665

)

 

121,475

 
1.6
Income tax on ordinary activities (see note 4)

 

 

(16,634

)

 

(22,955

)
 
 

 

 

 
1.7
Profit (loss) from ordinary activities after tax

 

 

(56,299

)

 

98,520

 
1.8
Profit (loss) from extraordinary items after tax (see item 2.5)

 

 

—  

 

 

—  

 
 
 

 

 

 
1.9
Net profit (loss)

 

 

(56,299

)

 

98,520

 
1.10
Net profit (loss) attributable to outside equity interests

 

 

1,403

 

 

2,713

 
 
 

 

 

 
1.11
Net profit (loss) for the period attributable to members

 

 

(57,702

)

 

95,807

 
 
 

 

 

 
 
Basic earnings per share (Item 10.1(a))

 

 

(7.1

)¢

 

15.8

¢
 
 

 

 

 
 
Fully diluted earnings per share (Item 10.1(b))

 

 

(7.1

)¢

 

15.8

¢
 
 

 

 

 

Consolidated retained profits
 

 

 

 

 

 

 
1.12
Retained profits (accumulated losses) at beginning of financial period

 

 

214,146

 

 

153,953

 
1.13
Net profit (loss) attributable to members (item 1.11)

 

 

(57,702

)

 

95,807

 
1.14
Net transfers to and from reserves (see item 1.34)

 

 

(—  

)

 

(—  

)
1.15
Net effect of changes in accounting policies (Note 2)

 

 

64,783

 

 

—  

 
1.16
Dividends and other equity distributions paid or payable

 

 

(64,783

)

 

(48,534

)
 
 

 

 

 
1.17
Retained profits (accumulated losses) at end of financial period

 

 

156,444

 

 

201,226

 
 
 

 

 

 

Profit restated to exclude amortisation of goodwill

 

 

 

Current period
$A’000

 

Previous corresponding
period - $A’000

 
 
 

 

 

 
1.18
Profit (loss) from ordinary activities after tax before outside equity interests (item 1.7) and amortisation of goodwill

 

 

(11,899

)

 

123,676

 
1.19
Less (plus) outside equity interests

 

 

1,403

 

 

2,713

 
 
 

 

 

 
1.20
Profit (loss) from ordinary activities after tax (before amortisation of goodwill) attributable to members

 

 

(13,302

)

 

120,963

 
 
 

 

 

 

-2-

Profit (loss) from ordinary activities attributable to members

 

 

 

Current period
$A’000

 

Previous corresponding
period - $A’000

 
 
 

 

 

 
1.21
Profit (loss)from ordinary activities after tax (item 1.7)

 

 

(56,299

)

 

98,520

 
1.22
Less (plus) outside equity interests

 

 

1,403

 

 

2,713

 
 
 

 

 

 
1.23
Profit (loss) from ordinary activities after tax attributable to members

 

 

(57,702

)

 

95,807

 
 
 

 

 

 

Revenue and expenses from ordinary activities

 
 

 

Current period
$A’000

 

Previous corresponding
period - $A’000

 
 
 

 

 

 
1.24
Sales revenue from services

 

 

1,301,932

 

 

1,568,945

 
 
Sales revenue from sale of goods

 

 

1,548,199

 

 

651,681

 
 
 

 

 

 
 
Total sales revenue

 

 

2,850,131

 

 

2,220,626

 
 
 

 

 

 
1.25
Interest received – other persons

 

 

9,650

 

 

14,062

 
 
 

 

 

 
1.26
Dividends received – associated entities

 

 

—  

 

 

274

 
 
Dividends received – other persons

 

 

—  

 

 

225

 
 
Proceeds from sale of non-current assets:

 

 

 

 

 

 

 
 
•

property plant & equipment

 

 

10,500

 

 

6,734

 
 
•

investments

 

 

402,341

 

 

—  

 
 
Other income

 

 

36,624

 

 

20,229

 
 
 

 

 

 
 
Revenue from ordinary activities

 

 

3,309,246

 

 

2,262,150

 
 
 

 

 

 
1.27
Employee costs

 

 

(836,787

)

 

(765,941

)
 
Subcontractor costs

 

 

(240,411

)

 

(253,548

)
 
Purchases of materials and trading stocks

 

 

(1,228,673

)

 

(476,774

)
 
Change in inventories

 

 

113,168

 

 

(20,160

)
 
Amortisation of intangibles

 

 

(46,056

)

 

(25,944

)
 
Consumables

 

 

(184,659

)

 

(231,834

)
 
Occupancy costs

 

 

(76,611

)

 

(39,439

)
 
Marketing costs

 

 

(14,306

)

 

(11,264

)
 
Fleet operation and distribution costs

 

 

(61,941

)

 

(67,802

)
 
Bad and doubtful debts expense

 

 

(6,874

)

 

(2,666

)
 
Significant expense items per below

 

 

(516,239

)

 

(8,581

)
 
Other expenses from ordinary activities

 

 

(157,354

)

 

(152,298

)
 
 

 

 

 
1.28
Depreciation and amortisation excluding amortisation of intangibles

 

 

(65,771

)

 

(61,429

)
 
 

 

 

 
 
Expenses from ordinary activities

 

 

(3,322,514

)

 

(2,117,680

)
 
 

 

 

 
 
Individually significant items included in revenue from ordinary activities and in other expenses from ordinary activities before income tax  expense:

 

 

 

 

 

 

 
 
Cost of investment in Logistics businesses divested

 

 

(371,363

)

 

—  

 
 
Closure and sale of Consumer businesses

 

 

(10,905

)

 

—  

 
 
Write-down of Hospitals assets

 

 

(94,592

)

 

(8,581

)
 
Write-down of IT assets

 

 

(27,746

)

 

—  

 
 
Devolution costs

 

 

(11,633

)

 

—  

 
 
 

 

 

 
 
Total significant expense items

 

 

(516,239

)

 

(8,581

)
 
Proceeds from sales of investments

 

 

401,070

 

 

—  

 
 
 

 

 

 
 
Total significant items

 

 

(115,169

)

 

(8,581

)
 
 

 

 

 
1.29
Interest costs capitalised in asset values

 

 

—  

 

 

—  

 
 
 

 

 

 
1.30
Outlays capitalised in intangibles (unless arising from an acquisition of a business)

 

 

—  

 

 

—  

 
 
 

 

 

 

-3-

Supplementary disclosures

 

 

 

Current period
$A’000

 

Previous corresponding
period - $A’000

 
 
 

 

 

 
 
Cost of goods sold

 

 

1,115,560

 

 

557,498

 
 
 

 

 

 
 
Profit before significant items:

 

 

 

 

 

 

 
 
Net profit attributable to members (Item 1.11)

 

 

(57,702

)

 

95,807

 
 
(Add)/less significant items

 

 

(115,169

)

 

(8,581

)
 
(Add)/less income tax on significant items

 

 

24,410

 

 

12,425

 
 
 

 

 

 
 
Profit after tax before significant items attributable to members

 

 

33,057

 

 

91,963

 
 
 

 

 

 
 
Profit after tax before significant items attributable to members – continuing businesses

 

 

40,989

 

 

70,518

 
 
 

 

 

 
 
Profit after tax before significant items attributable to members – discontinuing businesses

 

 

(7,932

)

 

21,445

 
 
 

 

 

 
 
Profit after tax before significant items attributable to members

 

 

33,057

 

 

91,963

 
 
 

 

 

 

Transfers from and to reserves

 

 

 

Current period
$A’000

 

Previous corresponding
period - $A’000

 

 

 

 

 

 
1.31
Increase (decrease) in asset revaluation reserve recognised in equity for the period

 

 

—  

 

 

—  

 
1.32
Net exchange difference on translation

 

 

—  

 

 

—  

 
1.33
Other reserves (provide details if material)

 

 

(—  

)

 

(—  

)
 
 

 

 

 
1.34
Total net transfer from (to) reserves (see item 1.14)

 

 

(—  

)

 

(—  

)
 
 

 

 

 

Intangible and extraordinary items

 

 

 

Consolidated - current period

 

 

 

 

 
 
 

 

Before Tax
$A’000

 

Related Tax
$A’000

 

Related Outside
Equity Interests
$A’000

 

Amount
(after tax)
attributable
to
members
$A’000

 
 
 

 

 

 

 

 
2.1
Amortisation of goodwill

 

 

44,481

 

 

(81

)

 

—  

 

 

44,400

 
2.2
Amortisation of other intangibles

 

 

1,575

 

 

—  

 

 

—  

 

 

1,575

 
 
 

 

 

 

 

 
2.3
Total amortisation of intangibles

 

 

46,056

 

 

(81

)

 

—  

 

 

45,975

 
 
 

 

 

 

 

 
2.4
Extraordinary items (details)

 

 

 

 

 

 

 

 

 

 

 

 

 
2.5
Total extraordinary items

 

 

 

 

 

 

 

 

 

 

 

 

 

 
 

 

Consolidated – previous corresponding period

 
 
 

 

 
 
Amortisation of goodwill

 

 

25,244

 

 

(88

)

 

—  

 

 

25,156

 
 
Amortisation of other intangibles

 

 

700

 

 

—  

 

 

—  

 

 

700

 
 
 

 

 

 

 

 
 
Total amortisation of intangibles

 

 

25,944

 

 

(88

)

 

—  

 

 

25,856

 
 
 

 

 

 

 

 
 
Extraordinary items (details)

 

 

 

 

 

 

 

 

 

 

 

 

 
 
Total extraordinary items

 

 

 

 

 

 

 

 

 

 

 

 

 

-4-

Comparison of half year profits
(Preliminary final statement only)

 
 

 

Current year –  $A’000

 

Previous year –  $A’000
 
 

 

 
3.1
Consolidated operating profit (loss) after tax attributable to members reported for the 1st half year (item 1.23 in the half yearly report)

 

N/A

 

N/A
 
 

 

 
3.2
Consolidated operating profit (loss) after tax attributable to members for the 2nd half year

 

N/A

 

N/A
 
 

 

 

-5-

Consolidated statement of financial position

 
 

 

At end of current
period
$A’000

 

As shown in last
annual report
$A’000

 

As in last half
yearly report
$A’000

 
 
 

 

 

 

 
 
Current assets

 

 

 

 

 

 

 

 

 

 
4.1
Cash

 

 

104,463

 

 

119,927

 

 

137,770

 
4.2
Receivables

 

 

858,442

 

 

987,137

 

 

1,155,761

 
4.3
Other financial assets – cash on deposit

 

 

112,179

 

 

305,696

 

 

647,925

 
4.4
Inventories

 

 

417,085

 

 

402,828

 

 

396,415

 
4.5
Tax assets

 

 

—  

 

 

—  

 

 

—  

 
4.6
Other

• Prepayments

 

 

42,636

 

 

32,781

 

 

52,381

 
 
 

• Logistics proceeds receivable

 

 

401,070

 

 

—  

 

 

—  

 
 
 

• Hospital divestment assets

 

 

24,550

 

 

—  

 

 

49,668

 
 
 

 

 

 

 

 
4.7
Total current assets

 

 

1,960,425

 

 

1,848,369

 

 

2,439,920

 
 
 

 

 

 

 
 
Non-current assets

 

 

 

 

 

 

 

 

 

 
4.8
Receivables

 

 

8,368

 

 

9,484

 

 

17,439

 
4.9
Investments (equity accounted)

 

 

8,789

 

 

8,382

 

 

9,590

 
4.10
Other financial assets

 

 

13,048

 

 

25,893

 

 

23,856

 
4.11
Inventories

 

 

—  

 

 

—  

 

 

—  

 
4.12
Exploration and evaluation expenditure capitalised

 

 

—  

 

 

—  

 

 

—  

 
4.13
Development properties

 

 

—  

 

 

—  

 

 

—  

 
4.14
Other property, plant and equipment (net)

 

 

1,242,921

 

 

1,450,658

 

 

1,466,551

 
4.15
Intangibles (net)

 

 

1,858,765

 

 

1,707,827

 

 

1,709,417

 
4.16
Tax assets

 

 

207,128

 

 

232,142

 

 

141,812

 
4.17
Other:

 

 

 

 

 

 

 

 

 

 
 
•

Deferred expenditure (net)

 

 

4,631

 

 

4,305

 

 

4,904

 
 
•

Cross currency swap principal

 

 

60,081

 

 

60,015

 

 

87,084

 
 
•

Bond investment

 

 

—  

 

 

41,026

 

 

—  

 
 
•

Other

 

 

2,883

 

 

3,134

 

 

3,790

 
 
 

 

 

 

 

 
4.18
Total non-current assets

 

 

3,406,614

 

 

3,542,866

 

 

3,464,443

 
 
 

 

 

 

 
4.19
Total assets

 

 

5,367,039

 

 

5,391,235

 

 

5,904,363

 
 
 

 

 

 

 
 
Current liabilities

 

 

 

 

 

 

 

 

 

 
4.20
Payables

 

 

901,437

 

 

787,719

 

 

1,057,951

 
4.21
Interest bearing liabilities

 

 

75,329

 

 

5,773

 

 

219,582

 
4.22
Tax liabilities

 

 

15,447

 

 

9,975

 

 

32,724

 
4.23
Provisions

 

 

123,760

 

 

211,233

 

 

192,735

 
4.24
Other

 

 

—  

 

 

—  

 

 

—  

 
 
 

 

 

 

 
4.25
Total current liabilities

 

 

1,115,973

 

 

1,014,700

 

 

1,502,992

 
 
 

 

 

 

 
 
Non-current liabilities

 

 

 

 

 

 

 

 

 

 
4.26
Accounts payable

 

 

6,575

 

 

8,447

 

 

13,436

 
4.27
Interest bearing liabilities

 

 

651,740

 

 

655,101

 

 

728,327

 
4.28
Tax  liabilities

 

 

63,149

 

 

71,194

 

 

71,901

 
4.29
Provisions

 

 

21,800

 

 

23,969

 

 

25,697

 
4.30
Other

 

 

—  

 

 

—  

 

 

—  

 
 
 

 

 

 

 
4.31
Total non-current liabilities

 

 

743,264

 

 

758,711

 

 

839,361

 
 
 

 

 

 

 
4.32
Total liabilities

 

 

1,859,237

 

 

1,773,411

 

 

2,342,353

 
 
 

 

 

 

 
4.33
Net assets

 

 

3,507,802

 

 

3,617,824

 

 

3,562,010

 
 
 

 

 

 

 

-6-

Consolidated balance sheet continued

 
 

 

At end of current
period
$A’000

 

As shown in last
annual report
$A’000

 

As in last half
yearly statement
$A’000

 
 
 

 

 

 

 
 
Equity

 

 

 

 

 

 

 

 

 

 
4.34
Capital / contributed equity

 

 

3,384,840

 

 

3,403,284

 

 

3,394,386

 
4.35
Reserves

 

 

(36,869

)

 

(2,766

)

 

(34,818

)
4.36
Retained profits (accumulated losses)

 

 

156,444

 

 

214,146

 

 

201,226

 
 
 

 

 

 

 
4.37
Equity attributable to members of the parent entity

 

 

3,504,415

 

 

3,614,664

 

 

3,560,794

 
4.38
Outside equity interests in controlled entities

 

 

3,387

 

 

3,160

 

 

1,216

 
 
 

 

 

 

 
4.39
Total equity

 

 

3,507,802

 

 

3,617,824

 

 

3,562,010

 
 
 

 

 

 

 
4.40
Preference capital included as part of 4.37

 

 

Nil

 

 

Nil

 

 

Nil

 
 
 

 

 

 

 

Exploration and evaluation expenditure capitalised

 
 

 

Current period  $A’000

 

Previous corresponding
period - $A’000
 
 

 

 
5.1
Opening balance

 

 

 

 
5.2
Expenditure incurred during current period

 

Nil

 

Nil
5.3
Expenditure written off during current period

 

 

 

 
5.4
Acquisitions, disposals, revaluation increments, etc.

 

 

 

 
5.5
Expenditure transferred to Development Properties

 

 

 

 
 
 

 

 
5.6
Closing balance as shown in the consolidated balance sheet (item 4.12)

 

 

 

 
 
 

 

 

Development properties

 
 

 

Current period $A’000

 

Previous corresponding
period - $A’000
 
 

 

 
6.1
Opening balance

 

 

 

 
6.2
Expenditure incurred during current period

 

Nil

 

Nil
6.3
Expenditure transferred from exploration and evaluation

 

 

 

 
6.4
Expenditure written off during current period

 

 

 

 
6.5
Acquisitions, disposals, revaluation increments, etc.

 

 

 

 
6.6
Expenditure transferred to mine properties

 

 

 

 
 
 

 

 
6.7
Closing balance as shown in the consolidated balance sheet (item 4.13)

 

 

 

 
 
 

 

 

-7-

Consolidated statement of cash flows

 

 

 

Current period  $A’000

 

Previous corresponding
period - $A’000

 

 

 

 

 

 
 
Cash flows related to operating activities

 

 

 

 

 

 

 
7.1
Receipts from customers

 

 

3,002,931

 

 

2,127,127

 
7.2
Payments to suppliers and employees

 

 

(2,881,423

)

 

(1,981,155

)
7.3
Dividends received from associates

 

 

—  

 

 

274

 
7.4
Other dividends received

 

 

—  

 

 

225

 
7.5
Interest and other items of similar nature received

 

 

7,688

 

 

12,410

 
7.6
Interest and other costs of finance paid

 

 

(24,506

)

 

(22,953

)
7.7
Income taxes paid

 

 

(35,568

)

 

(48,915

)
7.8
Other (provide details if material)

 

 

—  

 

 

—  

 
 
 

 

 

 
7.9
Net operating cash flows

 

 

69,122

 

 

87,013

 
 
 

 

 

 
 
Cash flows related to investing activities

 

 

 

 

 

 

 
7.10
Payment for purchases of property, plant and equipment

 

 

(102,736

)

 

(79,623

)
7.11
Proceeds from sale of property, plant and equipment

 

 

11,587

 

 

9,394

 
7.12
Payment for purchases of other investments

 

 

(257,817

)

 

(263,007

)
7.13
Proceeds from sale of other investments

 

 

41,791

 

 

3,796

 
7.14
Loans to other entities

 

 

—  

 

 

(2,172

)
7.15
Loans repaid by other entities

 

 

—  

 

 

3,904

 
7.16
Other

• proceeds from sale of Faulding Orals business

 

 

—  

 

 

1,312,258

 
 
 

• payments for amounts capitalised into goodwill

 

 

––  

 

 

(73,821

)
 
 

• payment for Logistics divestment

 

 

(26,234

)

 

––  

 
 
 

 

 

 
7.17
Net investing cash flows

 

 

(333,409

)

 

910,729

 
 
 

 

 

 
 
Cash flows related to financing activities

 

 

 

 

 

 

 
7.18
Proceeds from issues of securities (shares, options, etc.)

 

 

20

 

 

8,587

 
7.19
Proceeds from borrowings

 

 

60,346

 

 

36,391

 
7.20
Repayment of  borrowings

 

 

—  

 

 

(822,018

)
7.21
Dividends paid

 

 

(52,016

)

 

(24,536

)
7.22
Other (provide details if material)

 

 

 

 

 

 

 
 
 

• Finance lease principal

 

 

(4,850

)

 

(2,935

)
 
 

• Realised foreign exchange gains/(losses)

 

 

(4,459

)

 

(690

)
 
 

• Debtors securitisation

 

 

85,000

 

 

––  

 
 
 

• Share buy-back

 

 

(32,680

)

 

––  

 
 
 

 

 

 
7.23
Net financing cash flows

 

 

51,361

 

 

(805,201

)
 
 

 

 

 
7.24
Net increase (decrease in cash held

 

 

(212,926

)

 

192,541

 
7.25
Cash at beginning of period
(see Reconciliation of cash)

 

 

425,411

 

 

580,901

 
7.26
Exchange rate adjustments to item 7.25

 

 

4,157

 

 

(1,086

)
 
 

 

 

 
7.27
Cash at end of period
(see Reconciliation of cash)

 

 

216,642

 

 

772,356

 
 
 

 

 

 

- 8 -

Non-cash financing and investing activities

Reconciliation of cash

Reconciliation of cash at the end of the period (as shown in the consolidated statement of cash flows) to the related items in the accounts is as follows.

 

Current period $A’000

 

Previous corresponding
period - $A’000

 
 

 

 

 
8.1
Cash on hand and at bank

 

 

104,463

 

 

124,625

 
8.2
Deposits at call

 

 

—  

 

 

13,145

 
8.3
Bank overdraft

 

 

—  

 

 

(10,786

)
8.4
Other (provide details)

 

 

 

 

 

 

 
 
 

• cash on deposit

 

 

112,179

 

 

647,925

 
 
 

• Less loans and deposits with maturity over 3 months

 

 

—  

 

 

(2,553

)
 
 

 

 

 

 
8.5
Total cash at end of period (item 7.27)

 

 

216,642

 

 

772,356

 
 
 

 

 

 

Ratios

 

 

 

Current period

 

Previous corresponding
period

 

 

 

 

 

 
 
Profit before tax / revenue

 

 

 

 

 

 

 
9.1
Consolidated profit (loss) from ordinary activities before tax (item 1.5) as a percentage of revenue (item 1.1)

 

 

(1.2

)%

 

5.4

)%
 
 

 

 

 
 
Profit after tax / equity interests

 

 

 

 

 

 

 
9.2
Consolidated net profit (loss) from ordinary activities after tax attributable to members (item 1.11) as a percentage of equity (similarly attributable) at the end of the period (item 4.37)

 

 

(1.6

)%

 

2.7

%
 
 

 

 

 

- 9 -

Earnings per security (EPS)

 

 

 

 

Current period

 

Previous corresponding
period

 

 

 

 

 

 

 
10.1
Calculation of the following in accordance with AASB 1027: Earnings per Share

 

 

 

 

 

 

 
 
(a)

Basic EPS

 

 

(7.1

)¢

 

15.8

¢
 
(b)

Diluted EPS (if materially different from (a))

 

 

(7.1

)¢

 

15.8

¢
 
(c)

Weighted average number of ordinary shares outstanding during the period used in the calculation of the Basic EPS.

 

 

810,386,991

 

 

605,864,267

 
 
 

Effect of potential conversion to ordinary shares under the executive option scheme

 

 

56,938

 

 

1,551,391

 
 
(d)

Weighted average number of ordinary shares outstanding during the period used in the calculation of the Diluted EPS.

 

 

810,443,929

 

 

607,415,658

 
 
(e)

Earnings used in the calculation of basic and diluted EPS

 

$

(57,702,000

)

$

95,807,000

 
 
Earnings per share before significant items disclosed in Item 1.27

 

 

 

 

 

 

 
 
(a)

Basic EPS

 

 

4.1

¢

 

15.2

¢
 
(b)

Diluted EPS (if materially different from (a))

 

 

4.1

¢

 

15.1

¢
 
(c)

Earnings used in the calculation of basic and diluted EPS before significant items

 

$

33,057,000

 

$

91,963,000

 

NTA backing

 

Current period

 

Previous corresponding
period

 

 

 

 
11.1
Net tangible asset backing per ordinary security

 

$

1.87

 

$

2.20

 
 
 

 

 

 

 

 

 

-10-

Discontinuing Operations

Entities must report a description of any significant activities or events relating to discontinuing operations in accordance with paragraph 7.5 (g) of AASB 1029: Interim Financial Reporting, or, the details of discontinuing operations they have disclosed in their accounts in accordance with AASB 1042: Discontinuing Operations

12.1

Discontinuing Operations

 

       See Note 10 in the supplementary disclosures

 

Control gained over entities having material effect

 

 

13.1

Name of entity (or group of entities)

 

None

 

 

 

 

 

 

 

Current Period - $A’000

 

 

 

13.2

Consolidated profit (loss) from ordinary activities and extraordinary items after tax of the entity (or group of entities) before significant items since the date in the current period on which control was acquired

 

$

 

 

 

 

13.3

Date from which such profit has been calculated

 

 

 

 

 

 

13.4

Profit (loss) from ordinary activities and extraordinary items after tax of the entity (or group of entities) for the whole of the previous corresponding period

 

$

-11-

Loss of control of entities having material effect

 

 

 

 

14.1

Name of entity (or group of entities)

 

Mayne Logistics Pty Limited (group)
Mayne Canada Inc (group)
Mayne Express and Armaguard businesses
Selected operations within the Consumer segment

 

 

 

 

14.2

Consolidated  profit (loss) from ordinary activities and extraordinary items after tax of the entity (or group of entities) for the current period to the date of loss of control

 

 

$A’000

(7,932

)

 

 

 

 

 

 

 

 

14.3

Date to which the profit (loss) in item 14.2 has been calculated

 

 

31 December 2002

 

 

 

 

 

 

 

 

 

14.4

Consolidated profit (loss) from ordinary activities and extraordinary items after tax of the entity (or group of entities) while controlled during the whole of the previous corresponding period

 

 

$A’000

16,487

 

 

 

 

 

 

 

 

 

14.5

Contribution to consolidated operating profit (loss) and extraordinary items from sale of interest leading to loss of control

 

 

$A’000

11,422

 

 

 

 

 

 

 

 

 

Dividends (in the case of a trust, distributions)

 

 

 

 

 

 

 

 

 

 

 

 

15.1

Date the dividend (distribution) is payable

 

 

31 March  2003

 

 

 

 

 

 

 

 

 

15.2

Record date to determine entitlements to the dividend (distribution) (ie, on the basis of registrable transfers received up to 5.00 pm if securities are not CHESS approved, or security holding balances established by 5.00 pm or such later time permitted by SCH Business Rules if securities are CHESS approved)

 

 

11  March 2003

 

 

 

 

 

 

 

 

 

15.3

If it is a final dividend, has it been declared?

 

 

N/A

 

 

-12-

Amount per security

 

 

 

Amount per
security

 

Franked
amount per
security at
30% tax

 

Amount per
security of
foreign source
dividend

 
 
 

 

 

 

 
15.4
Final dividend:

Current year

 

 

N/A

¢

 

N/A

¢

 

nil

¢
15.5
 

Previous year

 

 

8.0

¢

 

3.2

¢

 

nil

¢
 
 

 

 

 

 
15.6
Interim dividend:

Current year

 

 

4.0

¢

 

0.0

¢

 

nil

¢
15.7
 

Previous year

 

 

6.0

¢

 

6.0

¢

 

nil

¢
 
 

 

 

 

 

Total annual dividend (distribution) per security
(Preliminary final statement only)

 

 

 

Current year

 

Previous  year

 
 
 

 

 

 
15.8
Ordinary securities

 

 

N/A

 

 

N/A

 
15.9
Preference securities

 

 

N/A

 

 

N/A

 

Half yearly report  - Interim dividend (distribution) on all securities
Preliminary final report – final dividend (distribution) on all securities

 

 

 

Current period
$A’000

 

Previous corresponding
period - $A’000

 
 
 

 

 

 
15.10
Ordinary securities

 

 

32,131

 

 

48,492

 
15.11
Preference securities

 

 

—  

 

 

—  

 
15.12
Other equity instruments

 

 

—  

 

 

—  

 
 
 

 

 

 
15.13
Total

 

 

32,131

 

 

48,492

 
 
 

 

 

 

The dividend or distribution plans shown below are in operation.

The dividend reinvestment plan will apply to the dividend payable on 31 March 2003.  The discount level to apply will be nil %.

The last date(s) for receipt of election notices for the dividend or distribution plans

11 March 2003

Any other disclosures in relation to dividends (distributions)

Nil

-13-

Details of aggregate share of profits (losses) of associates

 
 

Current period
$A’000

 

Previous corresponding
period - $A’000

 
 
 

 

 

 
Entity’s share of associates’
 

 

 

 

 

 

 
16.1
Profit (loss) from ordinary activities before income tax

 

 

1,137

 

 

911

 
16.2
Income tax on ordinary activities

 

 

452

 

 

247

 
 
 

 

 

 
16.3
Profit (loss from ordinary activities after income tax)

 

 

685

 

 

664

 
16.4
Extraordinary items net of tax

 

 

—  

 

 

—  

 
 
 

 

 

 
16.5
Net profit (loss)

 

 

685

 

 

664

 
16.6
Outside equity interests / adjustment for dividends

 

 

(143

)

 

(399

)
 
 

 

 

 
16.7
Net profit (loss) attributable to members

 

 

542

 

 

265

 
 
 

 

 

 

Material interests in entities which are not controlled entities
The economic entity has an interest (that is material to it) in the following entities. If the interest was acquired or disposed of during either the current or previous corresponding period, indicate date of acquisition (“from xx/xx/xx”) or disposal (“to xx/xx/xx”).

Name of entity

 

Percentage of ownership
interest held at end of
period or date of disposal

 

Contribution to net
profit (loss) (item 1.9)
 

 

 
17.1
Equity accounted associates and joint venture entities

 

Current
period

 

Previous
corresponding
period

 

Current
period
$A’000

 

Previous corresponding period
$A’000
 
 

 

 

 

 
 
 

 

 

 

 

 

Equity accounted
 
 

 

 

 

 

 
 
St George Private Hospital Nuclear Medicine Pty Ltd

 

50

 

50

 

31

 

22
 
Campsie Nuclear Medicine Pty Ltd

 

50

 

50

 

27

 

1
 
Gippsland Pathology  Service Pty Ltd

 

32

 

32

 

158

 

94
 
Minjesk Investment Corporation Limited (Fiji)

 

20

 

20

 

(169

)

148
 
Indo China Healthcare Limited

 

45

 

—  

 

495

 

—  
 
 

 

 

 

 

 
17.2
Total

 

 

 

 

 

542

 

265
 
 

 

 

 

 

 
17.3
Other material interests

 

 

 

 

 

 

 

 
 
None

 

 

 

 

 

 

 

 
17.4
Total

 

 

 

 

 

 

 

 

-14-

 

Issued and quoted securities at end of current period

 

Category of securities

 

Total Number

 

Number quoted

 

Issue price
per security
(see note 14)
(cents)

 

Amount
paid up per
security
(see note 14)
(cents)

 

 

 

 

 

 

18.1

Preference securities

 

 

Nil

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

18.2

Changes during current period

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(a)

Increases through issues

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(b)

Decreases through returns of capital, buybacks, redemptions

 

 

Nil

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

18.3

Ordinary securities

 

 

803,263,293

 

 

803,263,293

 

 

 

 

 

 

 

18.4

Changes during current period

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(a)

Increases through issues

 

 

3,999,603

 

 

3,999,603

 

 

 

 

 

 

 

 

(b)

Decreases through returns of capital, buybacks

 

 

10,516,318

 

 

10,516,318

 

 

 

 

 

 

 

 

 

 

 

 

 

 

18.5

Convertible debt securities

 

 

Nil

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

18.6

Changes during current period

 

 

Nil

 

 

 

 

 

 

 

 

 

 

 

(a)

Increases through issues

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(b)

Decreases through securities matured, converted

 

 

 

 

 

 

 

 

 

 

 

 

 

-15-

 

 

 

 

 

Total Number

 

Number quoted

 

Exercise
price ($)

 

Expiry date

 
 
 

 

 

 

 

 

 

 
18.7

 

 

Options

 

 

859,000

 

 

Nil

 

 

Various

 

 

2.2.03

 
 
 

 

 

 

 

882,000

 

 

Nil

 

 

5.24

 

 

27.2.04

 
 
 

 

 

 

 

20,000

 

 

Nil

 

 

4.50

 

 

5.8.04

 
 
 

 

 

 

 

1,007,000

 

 

Nil

 

 

3.366

 

 

5.2.05

 
 
 

 

 

 

 

250,000

 

 

Nil

 

 

3.76

 

 

19.5.05

 
 
 

 

 

 

 

155,000

 

 

Nil

 

 

3.71

 

 

31.5.05

 
 
 

 

 

 

 

200,000

 

 

Nil

 

 

3.78

 

 

13.6.05

 
 
 

 

 

 

 

60,000

 

 

Nil

 

 

4.12

 

 

10.7.05

 
 
 

 

 

 

 

100,000

 

 

Nil

 

 

3.98

 

 

31.7.05

 
 
 

 

 

 

 

30,000

 

 

Nil

 

 

4.14

 

 

31.8.05

 
 
 

 

 

 

 

100,000

 

 

Nil

 

 

4.25

 

 

8.8.05

 
 
 

 

 

 

 

330,000

 

 

Nil

 

 

4.48

 

 

15.8.05

 
 
 

 

 

 

 

50,000

 

 

Nil

 

 

5.30

 

 

14.11.05

 
 
 

 

 

 

 

160,000

 

 

Nil

 

 

6.45

 

 

30.04.06

 
 
 

 

 

 

 

90,000

 

 

Nil

 

 

6.23

 

 

22.02.06

 
 
 

 

 

 

 

75,000

 

 

Nil

 

 

6.27

 

 

27.06.06

 
 
 

 

 

 

 

200,000

 

 

Nil

 

 

7.45

 

 

25.08.06

 
 
 

 

 

 

 

120,000

 

 

Nil

 

 

7.45

 

 

31.08.06

 
 
 

 

 

 

 

100,000

 

 

Nil

 

 

7.11

 

 

18.08.06

 
 
 

 

 

 

 

200,000

 

 

Nil

 

 

7.01

 

 

20.09.06

 
 
 

 

 

 

 

100,000

 

 

Nil

 

 

7.229

 

 

30.09.06

 
 
 

 

 

 

 

200,000

 

 

Nil

 

 

6.88

 

 

31.10.06

 
 
 

 

 

 

 

40,000

 

 

Nil

 

 

5.16

 

 

31.01.07

 
 
 

 

 

 

 

50,000

 

 

Nil

 

 

5.07

 

 

9.02.07

 
 
 

 

 

 

 

50,000

 

 

Nil

 

 

5.09

 

 

14.02.07

 
 
 

 

 

 

 

100,000

 

 

Nil

 

 

3.97

 

 

27.02.07

 
 
 

 

 

 

 

150,000

 

 

Nil

 

 

3.86

 

 

12.03.07

 
 
 

 

 

 

 

240,000

 

 

Nil

 

 

3.98

 

 

29.03.07

 
 
 

 

 

 

 

100,000

 

 

Nil

 

 

4.07

 

 

25.04.07

 
 
 

 

 

 

 

74,000

 

 

Nil

 

 

4.18

 

 

30.04.07

 
 
 

 

 

 

 

60,000

 

 

Nil

 

 

3.51

 

 

30.07.07

 
 
 

 

 

 

 

 

 

 
18.8
 

 

Issued during current period

 

 

74,000

 

 

Nil

 

 

4.18

 

 

30.04.07

 
 
 

 

 

 

 

60,000

 

 

Nil

 

 

3.51

 

 

30.07.07

 
 
 

 

 

 

 

 

 

 
18.9
 

 

Exercised during current period

 

 

6,000

 

 

Nil

 

 

3.366

 

 

5.2.05

 
 
 

 

 

 

 

 

 

 
18.10
 

 

Expired during current period

 

 

—  

 

 

Nil

 

 

—  

 

 

—  

 
 
 

 

 

 

 

 

 

 
18.11
 

 

Debentures (totals only)

 

 

Nil

 

 

 

 

 

 

 

 

 

 
 
 

 

 

 

 

 

 

 

 

 

 

 
18.12
 

 

Unsecured notes (totals only)

 

 

Nil

 

 

 

 

 

 

 

 

 

 
 
 

 

 

 

 

 

 

 

 

 

 

 

-16-

Reports for industry and geographical segments

See Note 5.

Comments by directors

Basis of accounts preparation

19.1

Refer to attached Note 1.

 

 

19.2

Material factors affecting the revenue and expenses of the economic entity for the current half-year are detailed in the attached commentary.

 

 

19.3

There has not been any event since the end of the current period which has had a material effect and is not related to matters already reported.

 

 

19.4

The half year dividend will not be franked.

 

 

19.5

Changes in accounting policies since last Annual Report to be disclosed in accordance with Accounting Standard AASB 1029: Half-Year Accounts and Consolidated Accounts:

 

 

 

Refer to attached Note 2.

 

 

19.6

Revisions in estimates are disclosed as follows. For half yearly reports the nature and amount of revisions in estimates of amounts reported in previous annual reports if those revisions have a material effect on this half year.

 

 

19.7

Changes in contingent liabilities or assets are disclosed as follows: for half yearly reports, disclose changes in contingent liabilities and contingent assets since the last annual report

 

 

 

Refer attached Note 8.

Additional disclosure for trusts

19.1
Number of units held by the management company or responsible entity or their related parties.

 

N/A
 
 

 
19.2
A statement of the fees and commissions payable to the management company or responsible entity.

 
 
 

 
 
Identify:

 
 
 

 
 
•

initial service charges

 
 
 

 

 
 
•

management fees

 
 
 

 

 
 
•

other fees

 

N/A
 
 

 

-17-

Annual Meeting

(Preliminary final report only)

The annual meeting will be held as follows:

Place

 

N/A

 

 

Date

 

 

 

Time

 

 

 

Approximate date annual report will be available

 

Compliance statement

1

This report has been prepared in accordance with AASB Standards, AASB authoritative pronouncements and Urgent Issues Group Consensus Views or other standards acceptable to the ASX (see note 1).

 

 

2

This report, and the accounts upon which the report is based (if separate), use the same accounting policies.

 

 

3

This report does give a true and fair view of the matters disclosed.

 

 

4

This report is based on accounts to which one of the following applies.

 

 

 

(Tick one)

 

 

 

o

The accounts have been audited.

x

The accounts have been subject to review.

 

 

 

o

The accounts are in the process of being audited or subject to review.

o

The accounts have not yet been audited or reviewed.

 

 

5

The accounts have been subject to review by the auditor and a copy of the report is attached.

 

 

6

The entity has a formally constituted audit committee.

Sign here:
 

 

Date:

27 February 2003
 

 

 

 
 

(Company Secretary)

 

 

 
 
 

 

 

 
Print name:
J.W. Priestley

 

 

 

-18-

Notes to Appendix 4B for the financial half year ended 31 December 2002

Exhibit 6 (Part B)

1. Basis of preparation of the half-year financial report:

The half-year consolidated financial report is a general purpose financial report which has been prepared in accordance with the requirements of  Accounting Standard AASB 1029 “Interim Financial Reporting”, the recognition and measurement requirements of applicable AASB standards, Urgent Issues Group Consensus Views, other authoritative pronouncements of the Australian Accounting Standards Board and the Corporations Act 2001. This half-year financial report is to be read in conjunction with the 30 June 2002 Annual Financial Report and any public announcements by Mayne Group Limited and its Controlled Entities during the half-year in accordance with continuous disclosure obligations arising under the Corporations Act 2001.

It has been prepared on the basis of historical costs and except where stated, does not take into account changing money values or current valuations of non-current assets.

These accounting policies have been consistently applied by each entity in the consolidated entity and, except where there is a change in accounting policy, are consistent with those applied in the 30 June 2002 Annual Financial Report.

The carrying amounts of non-current assets are reviewed to determine whether they are in excess of their recoverable amount at the end of the half-year. If the carrying amount of a non-current asset exceeds the recoverable amount, the asset is written down to the lower amount. In assessing recoverable amounts the relevant cash flows have not been discounted to their present value.

The half-year report does not include full note disclosures of the type normally included in an annual financial report.

2. Provisions, contingent liabilities and contingent assets

The consolidated entity has applied AASB 1044 “Provisions, Contingent Liabilities and Contingent Assets” for the first time from 1 July 2002.
Dividends are now recognised at the time they are declared, determined or publicly recommended. Previously, dividends were recognised in the financial period to which they related, even though the dividends were announced after the end of that period.
Had this change always been applied the impact on the consolidated financial statement of financial position would have been:

 

 

30 June 2002

 

31 December 2001

 

 

 

 

 
Increase in retained profits
 

$

64,783,000

 

$

48,534,000

 
Decrese in provision for dividends
 

$

64,783,000

 

$

48,534,000

 

There was no impact on profit or loss for the half-year ended 31 December 2002.

3. Segmental reporting

The consolidated entity operates predominantly in the following industries:
“Hospitals” comprises the mangement of stand alone and co-located private hospitals and public hospital management.
“Health Services” comprises pathology and dignostic imaging services, the management of medical centres and the provision of distribution and retail management services to pharmacies.
“Pharmaceuticals”  comprises the development, manufacture and distribution of injectible pharmaceuticals and of health and personal care products.
“Logistics “ comprises warehousing and distribution, distribution fleet management, armoured cars, priority and specialised express freight, couriers and messengers.
“Unallocated” comprises expenditure which is not recovered from the operating businesses, cash deposits, investments, borrowings and tax balances not attributed to the operating businesses.
There are no material inter-entity sales.
Business segments disclosures for prior periods have been restated to reflect the current segment structure.

19

Notes to Appendix 4B for the financial half year ended 31 December 2002

 

 

 

 

 

 

Consolidated

 

 

 

 

 

 

Dec 2002

 

Dec 2001

 

 

 

 

 

 

 

$’000

 

$’000

 

4. Details of income tax expense (refer Item 1.6)

The prima facie tax  on profit from ordinary activities differs from the income tax provided in the accounts and is reconciled as follows:

 

 

 

 

 

 

 
 

 

 

 

 

 

 

 
Prima facie tax on profit from ordinary activities calculated at 30%  (Dec 2001 - 30%)

 

 

(11,899

)

 

36,443

 
From which is deducted the tax effect of:
 

 

 

 

 

 

 
Over/(under) provision in prior year for continuing businesses
 

 

(1,323

)

 

7,659

 
Overseas income tax rate differences
 

 

(797

)

 

(1,490

)
Utilisation of prior year tax losses
 

 

—  

 

 

554

 
Capital allowances
 

 

2,255

 

 

2,367

 
Research and development
 

 

805

 

 

—  

 
Dividend income
 

 

365

 

 

6

 
Impairment provision release
 

 

236

 

 

—  

 
Capitalised expenditure
 

 

139

 

 

—  

 
Share of net profits of associated entities
 

 

163

 

 

80

 
Non-taxable capital profits
 

 

—  

 

 

1,560

 
Employee Share Acquisition Plan
 

 

—  

 

 

4,000

 
Other variations
 

 

1,475

 

 

485

 
Significant items
 

 

 

 

 

 

 
Over provision in prior period - Europe Express sale
 

 

—  

 

 

10,010

 
 
 

 

 
 
 

 

(15,217

)

 

11,212

 
To which is added the tax effect of:
 

 

 

 

 

 

 
Non-deductible depreciation/amortisation
 

 

16,223

 

 

8,291

 
Non-deductible expenditure
 

 

3,041

 

 

3,071

 
Current half year losses on which no tax benefit has been recognised
 

 

2,447

 

 

381

 
Significant items
 

 

 

 

 

 

 
Divestment of Logistics businesses
 

 

339

 

 

—  

 
Write down of Hospital assets
 

 

6,769

 

 

—  

 
Provision for closure / sale of Consumer businesses
 

 

2,900

 

 

—  

 
Non deductible expenditure - restructuring expenses
 

 

132

 

 

—  

 
 
 

 

 
Income tax expense attributable to profit from ordinary activities
 

 

16,634

 

 

22,955

 
 
 

 

 

20

Notes to Appendix 4B for the financial half year ended 31 December 2002

 

 

 

Sales revenue
December 2002

 

Sales revenue
December 2001

 

 

 

 

 

 

 

Continuing

 

Discontinuing

 

Total

 

Continuing

 

Discontinuing

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

$’000

 

 

$’000

 

 

$’000

 

 

$’000

 

 

$’000

 

 

$’000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

5. Segmental Reporting

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Business Segments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Hospitals

 

 

652,638

 

 

—  

 

 

652,638

 

 

724,687

 

 

—  

 

 

724,687

 

 

 

 

 

 

 

 

 

Pathology Services

 

 

171,081

 

 

—  

 

 

171,081

 

 

122,979

 

 

—  

 

 

122,979

 

Diagnostic Imaging Services

 

 

90,070

 

 

—  

 

 

90,070

 

 

76,479

 

 

—  

 

 

76,479

 

Medical Centres

 

 

21,452

 

 

—  

 

 

21,452

 

 

12,817

 

 

—  

 

 

12,817

 

Pharmacy

 

 

995,420

 

 

—  

 

 

995,420

 

 

487,685

 

 

—  

 

 

487,685

 

 

 

 

 

 

 

 

 

Total Health Services

 

 

1,278,023

 

 

—  

 

 

1,278,023

 

 

699,960

 

 

—  

 

 

699,960

 

 

 

 

 

 

 

 

 

Pharmaceuticals

 

 

224,448

 

 

—  

 

 

224,448

 

 

108,578

 

 

—  

 

 

108,578

 

Consumer Brands

 

 

92,902

 

 

15,775

 

 

108,677

 

 

42,481

 

 

12,937

 

 

55,418

 

 

 

 

 

 

 

 

 

Total Pharmaceuticals

 

 

317,350

 

 

15,775

 

 

333,125

 

 

151,059

 

 

12,937

 

 

163,996

 

 

 

 

 

 

 

 

 

Australia & Pacific Logistics

 

 

—  

 

 

419,782

 

 

419,782

 

 

—  

 

 

453,527

 

 

453,527

 

Loomis Courier

 

 

—  

 

 

165,225

 

 

165,225

 

 

—  

 

 

177,551

 

 

177,551

 

 

 

 

 

 

 

 

 

Total Logistics Services

 

 

—  

 

 

585,007

 

 

585,007

 

 

—  

 

 

631,078

 

 

631,078

 

 

 

 

 

 

 

 

 

Unallocated

 

 

1,338

 

 

—  

 

 

1,338

 

 

905

 

 

—  

 

 

905

 

 

 

 

 

 

 

 

 

 

 

 

2,249,349

 

 

600,782

 

 

2,850,131

 

 

1,576,611

 

 

644,015

 

 

2,220,626

 

 

 

 

 

 

 

 

 

Consolidated

 

 

2,249,349

 

 

600,782

 

 

2,850,131

 

 

1,576,611

 

 

644,015

 

 

2,220,626

 

 

 

 

 

 

 

 

 

Geographical Segments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Australia

 

 

2,047,375

 

 

401,680

 

 

2,449,055

 

 

1,461,549

 

 

442,467

 

 

1,904,016

 

Other Pacific Regions

 

 

51,504

 

 

33,460

 

 

84,964

 

 

42,342

 

 

18,512

 

 

60,854

 

 

 

 

 

 

 

 

 

Australia & Pacific Regions

 

 

2,098,879

 

 

435,140

 

 

2,534,019

 

 

1,503,891

 

 

460,979

 

 

1,964,870

 

Americas

 

 

68,089

 

 

165,225

 

 

233,314

 

 

33,628

 

 

183,014

 

 

216,642

 

Europe, Middle East & Africa

 

 

82,381

 

 

417

 

 

82,798

 

 

39,092

 

 

22

 

 

39,114

 

 

 

 

 

 

 

 

 

Consolidated

 

 

2,249,349

 

 

600,782

 

 

2,850,131

 

 

1,576,611

 

 

644,015

 

 

2,220,626

 

 

 

 

 

 

 

 

 

21

Notes to Appendix 4B for the financial half year ended 31 December 2002

 

 

 

Profit before tax and significant items
December 2002

 

Profit before tax and significant items
December 2001

 

 

 

 

 

 

 

Continuing

 

Discontinuing

 

Total

 

Continuing

 

Discontinuing

 

Total

 

 

 

 

 

 

 

 

 

 

 

$’000

 

$’000

 

$’000

 

$’000

 

$’000

 

$’000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

5. Segmental Reporting

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Business Segments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Hospitals

 

 

25,296

 

 

—  

 

 

25,296

 

 

64,372

 

 

—  

 

 

64,372

 

 

 

 

 

 

 

 

 

Pathology Services

 

 

16,914

 

 

—  

 

 

16,914

 

 

13,738

 

 

—  

 

 

13,738

 

Diagnostic Imaging Services

 

 

9,685

 

 

—  

 

 

9,685

 

 

7,075

 

 

—  

 

 

7,075

 

Medical Centres

 

 

(1,893

)

 

—  

 

 

(1,893

)

 

(1,949

)

 

—  

 

 

(1,949

)

Pharmacy

 

 

14,324

 

 

—  

 

 

14,324

 

 

6,218

 

 

—  

 

 

6,218

 

 

 

 

 

 

 

 

 

Total Health Services

 

 

39,030

 

 

—  

 

 

39,030

 

 

25,082

 

 

—  

 

 

25,082

 

 

 

 

 

 

 

 

 

Pharmaceuticals

 

 

28,403

 

 

—  

 

 

28,403

 

 

16,552

 

 

—  

 

 

16,552

 

Consumer Brands

 

 

3,982

 

 

(7,659

)

 

(3,677

)

 

3,620

 

 

1,812

 

 

5,432

 

 

 

 

 

 

 

 

 

Total Pharmaceuticals

 

 

32,385

 

 

(7,659

)

 

24,726

 

 

20,172

 

 

1,812

 

 

21,984

 

 

 

 

 

 

 

 

 

Australia & Pacific Logistics

 

 

—  

 

 

(89

)

 

(89

)

 

—  

 

 

25,979

 

 

25,979

 

Loomis Courier

 

 

—  

 

 

9,455

 

 

9,455

 

 

—  

 

 

8,341

 

 

8,341

 

 

 

 

 

 

 

 

 

Total Logistics Services

 

 

—  

 

 

9,366

 

 

9,366

 

 

—  

 

 

34,320

 

 

34,320

 

 

 

 

 

 

 

 

 

Unallocated

 

 

(5,625

)

 

—  

 

 

(5,625

)

 

(6,504

)

 

—  

 

 

(6,504

)

 

 

 

 

 

 

 

 

Earnings before interest & tax

 

 

91,086

 

 

1,707

 

 

92,793

 

 

103,122

 

 

36,132

 

 

139,254

 

Net interest expense

 

 

(13,034

)

 

(4,255

)

 

(17,289

)

 

(7,645

)

 

(1,553

)

 

(9,198

)

 

 

 

 

 

 

 

 

Consolidated

 

 

78,052

 

 

(2,548

)

 

75,504

 

 

95,477

 

 

34,579

 

 

130,056

 

 

 

 

 

 

 

 

 

Geographical Segments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Australia

 

 

74,256

 

 

340

 

 

74,596

 

 

81,357

 

 

26,263

 

 

107,620

 

Other Pacific Regions

 

 

5,057

 

 

2,118

 

 

7,175

 

 

9,490

 

 

1,341

 

 

10,831

 

 

 

 

 

 

 

 

 

Australia & Pacific Regions

 

 

79,313

 

 

2,458

 

 

81,771

 

 

90,847

 

 

27,604

 

 

118,451

 

Americas

 

 

3,075

 

 

1,301

 

 

4,376

 

 

5,429

 

 

9,111

 

 

14,540

 

Europe, Middle East & Africa

 

 

8,698

 

 

(2,052

)

 

6,646

 

 

6,846

 

 

(583

)

 

6,263

 

 

 

 

 

 

 

 

 

Earnings before interest & tax

 

 

91,086

 

 

1,707

 

 

92,793

 

 

103,122

 

 

36,132

 

 

139,254

 

Net interest expense

 

 

(13,034

)

 

(4,255

)

 

(17,289

)

 

(7,645

)

 

(1,553

)

 

(9,198

)

 

 

 

 

 

 

 

 

Consolidated

 

 

78,052

 

 

(2,548

)

 

75,504

 

 

95,477

 

 

34,579

 

 

130,056

 

 

 

 

 

 

 

 

 

22

Notes to Appendix 4B for the financial half year ended 31 December 2002

 

 

 

Significant items before tax
December 2002

 

Significant items before tax
December 2001

 

 

 

 

 

 

 

Continuing

 

Discontinuing

 

Total

 

Continuing

 

Discontinuing

 

Total

 

 

 

 

 

 

 

 

 

 

 

$’000

 

$’000

 

$’000

 

$’000

 

$’000

 

$’000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

5. Segmental Reporting

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Business Segments

Hospitals

 

 

(103,143

)

 

—  

 

 

(103,143

)

 

—  

 

 

—  

 

 

—  

 

 

 

 

 

 

 

 

 

Pathology Services

 

 

—  

 

 

—  

 

 

—  

 

 

—  

 

 

—  

 

 

—  

 

Diagnostic Imaging Services

 

 

—  

 

 

—  

 

 

—  

 

 

—  

 

 

—  

 

 

—  

 

Medical Centres

 

 

(1,800

)

 

—  

 

 

(1,800

)

 

—  

 

 

—  

 

 

—  

 

Pharmacy

 

 

—  

 

 

—  

 

 

—  

 

 

—  

 

 

—  

 

 

—  

 

 

 

 

 

 

 

 

 

Total Health Services

 

 

(1,800

)

 

—  

 

 

(1,800

)

 

—  

 

 

—  

 

 

—  

 

 

 

 

 

 

 

 

 

Pharmaceuticals

 

 

—  

 

 

—  

 

 

—  

 

 

—  

 

 

—  

 

 

—  

 

Consumer Brands

 

 

(550

)

 

(10,906

)

 

(11,456

)

 

—  

 

 

—  

 

 

—  

 

 

 

 

 

 

 

 

 

Total Pharmaceuticals

 

 

(550

)

 

(10,906

)

 

(11,456

)

 

—  

 

 

—  

 

 

—  

 

 

 

 

 

 

 

 

 

Australia & Pacific Logistics

 

 

—  

 

 

—  

 

 

—  

 

 

—  

 

 

(6,331

)

 

(6,331

)

Loomis Courier

 

 

—  

 

 

—  

 

 

—  

 

 

—  

 

 

—  

 

 

—  

 

Divestment of Logistics Services

 

 

—  

 

 

28,078

 

 

28,078

 

 

—  

 

 

—  

 

 

—  

 

 

 

 

 

 

 

 

 

Total Logistics Services

 

 

—  

 

 

28,078

 

 

28,078

 

 

—  

 

 

(6,331

)

 

(6,331

)

 

 

 

 

 

 

 

 

Unallocated

 

 

(28,480

)

 

1,632

 

 

(26,848

)

 

(1,845

)

 

(405

)

 

(2,250

)

 

 

 

 

 

 

 

 

Consolidated

 

 

(133,973

)

 

18,804

 

 

(115,169

)

 

(1,845

)

 

(6,736

)

 

(8,581

)

 

 

 

 

 

 

 

 

Geographical Segments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Australia

 

 

(131,973

)

 

31,088

 

 

(100,885

)

 

(1,845

)

 

(6,736

)

 

(8,581

)

Other Pacific Regions

 

 

(2,000

)

 

(819

)

 

(2,819

)

 

—  

 

 

—  

 

 

—  

 

 

 

 

 

 

 

 

 

Australia & Pacific Regions

 

 

(133,973

)

 

30,269

 

 

(103,704

)

 

(1,845

)

 

(6,736

)

 

(8,581

)

Americas

 

 

—  

 

 

(9,667

)

 

(9,667

)

 

—  

 

 

—  

 

 

—  

 

Europe, Middle East & Africa

 

 

—  

 

 

(1,798

)

 

(1,798

)

 

—  

 

 

—  

 

 

—  

 

 

 

 

 

 

 

 

 

Consolidated

 

 

(133,973

)

 

18,804

 

 

(115,169

)

 

(1,845

)

 

(6,736

)

 

(8,581

)

 

 

 

 

 

 

 

 

23

Notes to Appendix 4B for the financial half year ended 31 December 2002

 

 

 

Profit before tax
December 2002

 

Profit before tax
December 2001

 

 

 

 

 

 

 

Continuing

 

Discontinuing

 

Total

 

Continuing

 

Discontinuing

 

Total

 

 

 

 

 

 

 

 

 

 

 

$’000

 

$’000

 

$’000

 

$’000

 

$’000

 

$’000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

5. Segmental Reporting

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Business Segments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Hospitals

 

 

(77,847

)

 

—  

 

 

(77,847

)

 

64,372

 

 

—  

 

 

64,372

 

 

 

 

 

 

 

 

 

Pathology Services

 

 

16,914

 

 

—  

 

 

16,914

 

 

13,738

 

 

—  

 

 

13,738

 

Diagnostic Imaging Services

 

 

9,685

 

 

—  

 

 

9,685

 

 

7,075

 

 

—  

 

 

7,075

 

Medical Centres

 

 

(3,693

)

 

—  

 

 

(3,693

)

 

(1,949

)

 

—  

 

 

(1,949

)

Pharmacy

 

 

14,324

 

 

—  

 

 

14,324

 

 

6,218

 

 

—  

 

 

6,218

 

 

 

 

 

 

 

 

 

Total Health Services

 

 

37,230

 

 

—  

 

 

37,230

 

 

25,082

 

 

—  

 

 

25,082

 

 

 

 

 

 

 

 

 

Pharmaceuticals

 

 

28,403

 

 

—  

 

 

28,403

 

 

16,552

 

 

—  

 

 

16,552

 

Consumer Brands

 

 

3,432

 

 

(18,565

)

 

(15,133

)

 

3,620

 

 

1,812

 

 

5,432

 

 

 

 

 

 

 

 

 

Total Pharmaceuticals

 

 

31,835

 

 

(18,565

)

 

13,270

 

 

20,172

 

 

1,812

 

 

21,984

 

 

 

 

 

 

 

 

 

Australia & Pacific Logistics

 

 

—  

 

 

(89

)

 

(89

)

 

—  

 

 

19,648

 

 

19,648

 

Loomis Courier

 

 

—  

 

 

9,455

 

 

9,455

 

 

—  

 

 

8,341

 

 

8,341

 

Divestment of Logistics Services

 

 

—  

 

 

28,078

 

 

28,078

 

 

—  

 

 

—  

 

 

—  

 

 

 

 

 

 

 

 

 

Total Logistics Services

 

 

—  

 

 

37,444

 

 

37,444

 

 

—  

 

 

27,989

 

 

27,989

 

 

 

 

 

 

 

 

 

Unallocated

 

 

(34,105

)

 

1,632

 

 

(32,473

)

 

(8,349

)

 

(405

)

 

(8,754

)

 

 

 

 

 

 

 

 

Earnings before interest & tax

 

 

(42,887

)

 

20,511

 

 

(22,376

)

 

101,277

 

 

29,396

 

 

130,673

 

Net interest expense

 

 

(13,034

)

 

(4,255

)

 

(17,289

)

 

(7,645

)

 

(1,553

)

 

(9,198

)

 

 

 

 

 

 

 

 

Consolidated

 

 

(55,921

)

 

16,256

 

 

(39,665

)

 

93,632

 

 

27,843

 

 

121,475

 

 

 

 

 

 

 

 

 

Geographical Segments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Australia

 

 

(57,717

)

 

31,428

 

 

(26,289

)

 

79,512

 

 

19,527

 

 

99,039

 

Other Pacific Regions

 

 

3,057

 

 

1,299

 

 

4,356

 

 

9,490

 

 

1,341

 

 

10,831

 

 

 

 

 

 

 

 

 

Australia & Pacific Regions

 

 

(54,660

)

 

32,727

 

 

(21,933

)

 

89,002

 

 

20,868

 

 

109,870

 

Americas

 

 

3,075

 

 

(8,366

)

 

(5,291

)

 

5,429

 

 

9,111

 

 

14,540

 

Europe, Middle East & Africa

 

 

8,698

 

 

(3,850

)

 

4,848

 

 

6,846

 

 

(583

)

 

6,263

 

 

 

 

 

 

 

 

 

Earnings before interest & tax

 

 

(42,887

)

 

20,511

 

 

(22,376

)

 

101,277

 

 

29,396

 

 

130,673

 

Net interest expense

 

 

(13,034

)

 

(4,255

)

 

(17,289

)

 

(7,645

)

 

(1,553

)

 

(9,198

)

 

 

 

 

 

 

 

 

Consolidated

 

 

(55,921

)

 

16,256

 

 

(39,665

)

 

93,632

 

 

27,843

 

 

121,475

 

 

 

 

 

 

 

 

 

24

Notes to Appendix 4B for the financial half year ended 31 December 2002

 

 

 

Depreciation and Amortisation
December 2002

 

Depreciation and Amortisation
December 2001

 

 

 

 

 

 

 

Continuing

 

Discontinuing

 

Total

 

Continuing

 

Discontinuing

 

Total

 

 

 

 

 

 

 

 

 

 

 

$’000

 

$’000

 

$’000

 

$’000

 

$’000

 

$’000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

5. Segmental Reporting

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Business Segments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Hospitals

 

 

33,205

 

 

—  

 

 

33,205

 

 

34,007

 

 

—  

 

 

34,007

 

 

 

 

 

 

 

 

 

Pathology Services

 

 

8,715

 

 

—  

 

 

8,715

 

 

4,629

 

 

—  

 

 

4,629

 

Diagnostic Imaging Services

 

 

8,372

 

 

—  

 

 

8,372

 

 

7,341

 

 

—  

 

 

7,341

 

Medical Centres

 

 

2,159

 

 

—  

 

 

2,159

 

 

820

 

 

—  

 

 

820

 

Pharmacy

 

 

10,002

 

 

—  

 

 

10,002

 

 

7,388

 

 

—  

 

 

7,388

 

 

 

 

 

 

 

 

 

Total Health Services

 

 

29,248

 

 

—  

 

 

29,248

 

 

20,178

 

 

—  

 

 

20,178

 

 

 

 

 

 

 

 

 

Pharmaceuticals

 

 

24,574

 

 

—  

 

 

24,574

 

 

9,646

 

 

—  

 

 

9,646

 

Consumer Brands

 

 

4,763

 

 

128

 

 

4,891

 

 

1,117

 

 

221

 

 

1,338

 

 

 

 

 

 

 

 

 

Total Pharmaceuticals

 

 

29,337

 

 

128

 

 

29,465

 

 

10,763

 

 

221

 

 

10,984

 

 

 

 

 

 

 

 

 

Australia & Pacific Logistics

 

 

—  

 

 

15,833

 

 

15,833

 

 

—  

 

 

16,501

 

 

16,501

 

Loomis Courier

 

 

—  

 

 

4,076

 

 

4,076

 

 

—  

 

 

5,703

 

 

5,703

 

 

 

 

 

 

 

 

 

Total Logistics Services

 

 

—  

 

 

19,909

 

 

19,909

 

 

—  

 

 

22,204

 

 

22,204

 

 

 

 

 

 

 

 

 

Consolidated

 

 

91,790

 

 

20,037

 

 

111,827

 

 

64,948

 

 

22,425

 

 

87,373

 

 

 

 

 

 

 

 

 

Geographical Segments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Australia

 

 

89,846

 

 

14,076

 

 

103,922

 

 

62,286

 

 

15,230

 

 

77,516

 

Other Pacific Regions

 

 

336

 

 

1,885

 

 

2,221

 

 

2,354

 

 

1,492

 

 

3,846

 

 

 

 

 

 

 

 

 

Australia & Pacific Regions

 

 

90,182

 

 

15,961

 

 

106,143

 

 

64,640

 

 

16,722

 

 

81,362

 

Americas

 

 

1,156

 

 

4,076

 

 

5,232

 

 

308

 

 

5,703

 

 

6,011

 

Europe, Middle East & Africa

 

 

452

 

 

—  

 

 

452

 

 

—  

 

 

—  

 

 

—  

 

 

 

 

 

 

 

 

 

Consolidated

 

 

91,790

 

 

20,037

 

 

111,827

 

 

64,948

 

 

22,425

 

 

87,373

 

 

 

 

 

 

 

 

 

25

Notes to Appendix 4B for the financial half year ended 31 December 2002

 

 

 

Capital Expenditure
December 2002

 

Capital Expenditure
December 2001

 

 

 

 

 

 

 

Continuing

 

Discontinuing

 

Total

 

Continuing

 

Discontinuing

 

Total

 

 

 

 

 

 

 

 

 

 

 

$’000

 

$’000

 

$’000

 

$’000

 

$’000

 

$’000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

5. Segmental Reporting

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Business Segments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Hospitals

 

 

27,013

 

 

—  

 

 

27,013

 

 

15,990

 

 

—  

 

 

15,990

 

 

 

 

 

 

 

 

 

Pathology Services

 

 

2,175

 

 

—  

 

 

2,175

 

 

5,160

 

 

—  

 

 

5,160

 

Diagnostic Imaging Services

 

 

11,625

 

 

—  

 

 

11,625

 

 

6,665

 

 

—  

 

 

6,665

 

Medical Centres

 

 

1,816

 

 

—  

 

 

1,816

 

 

609

 

 

—  

 

 

609

 

Pharmacy

 

 

3,172

 

 

—  

 

 

3,172

 

 

4,483

 

 

—  

 

 

4,483

 

 

 

 

 

 

 

 

 

Total Health Services

 

 

18,788

 

 

—  

 

 

18,788

 

 

16,917

 

 

—  

 

 

16,917

 

 

 

 

 

 

 

 

 

Pharmaceuticals

 

 

16,397

 

 

—  

 

 

16,397

 

 

15,030

 

 

—  

 

 

15,030

 

Consumer Brands

 

 

2,048

 

 

785

 

 

2,833

 

 

6,381

 

 

135

 

 

6,516

 

 

 

 

 

 

 

 

 

Total Pharmaceuticals

 

 

18,445

 

 

785

 

 

19,230

 

 

21,411

 

 

135

 

 

21,546

 

 

 

 

 

 

 

 

 

Australia & Pacific Logistics

 

 

—  

 

 

23,118

 

 

23,118

 

 

—  

 

 

15,351

 

 

15,351

 

Loomis Courier

 

 

—  

 

 

4,316

 

 

4,316

 

 

—  

 

 

3,195

 

 

3,195

 

 

 

 

 

 

 

 

 

Total Logistics Services

 

 

—  

 

 

27,434

 

 

27,434

 

 

—  

 

 

18,546

 

 

18,546

 

 

 

 

 

 

 

 

 

Unallocated

 

 

10,271

 

 

—  

 

 

10,271

 

 

6,624

 

 

—  

 

 

6,624

 

 

 

 

 

 

 

 

 

Consolidated

 

 

74,517

 

 

28,219

 

 

102,736

 

 

60,942

 

 

18,681

 

 

79,623

 

 

 

 

 

 

 

 

 

Geographical Segments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Australia

 

 

71,259

 

 

19,543

 

 

90,802

 

 

48,652

 

 

13,941

 

 

62,593

 

Other Pacific Regions

 

 

1,645

 

 

4,360

 

 

6,005

 

 

747

 

 

1,489

 

 

2,236

 

 

 

 

 

 

 

 

 

Australia & Pacific Regions

 

 

72,904

 

 

23,903

 

 

96,807

 

 

49,399

 

 

15,430

 

 

64,829

 

Americas

 

 

1,033

 

 

4,316

 

 

5,349

 

 

11,230

 

 

3,235

 

 

14,465

 

Europe, Middle East & Africa

 

 

580

 

 

—  

 

 

580

 

 

313

 

 

16

 

 

329

 

 

 

 

 

 

 

 

 

Consolidated

 

 

74,517

 

 

28,219

 

 

102,736

 

 

60,942

 

 

18,681

 

 

79,623

 

 

 

 

 

 

 

 

 

26