African Medical Investments PLC Final Results -7-
31 Agosto 2012 - 3:01AM
UK Regulatory
An analysis of the Group's financial assets and liabilities to
currency risk is as follows:
2012 GBP US$ Rand Other Total
$'000 $'000 $'000 $'000 $'000
---------- ----------- ---------- ---------- -----------
Cash and cash equivalents 2 367 35 (492) (88)
Trade and other receivables 16 450 10 826 1,302
---------- ----------- ---------- ---------- -----------
Total financial assets at
29 February 2012 18 817 45 334 1,214
---------- ----------- ---------- ---------- -----------
Trade payables 32 762 163 353 1,310
Other payables, accruals and
deferred income 260 2,823 313 335 3,731
---------- ----------- ---------- ---------- -----------
Total trade and other payables 292 3,585 476 688 5,041
Interest bearing loan - 5,271 - - 5,271
---------- ----------- ---------- ---------- -----------
Total financial liabilities
at 29 February 2012 292 8,856 476 688 10,312
---------- ----------- ---------- ---------- -----------
2011 GBP US$ Rand Other Total
$'000 $'000 $'000 $'000 $'000
---------- ----------- ---------- ---------- -----------
Cash and cash equivalents 6 4,507 100 68 4,681
Trade and other receivables 5 509 88 568 1,170
---------- ----------- ---------- ---------- -----------
Total financial assets at
28 February 2011 11 5,016 188 636 5,851
---------- ----------- ---------- ---------- -----------
Trade payables 103 556 561 211 1,431
Other payables, accruals and
deferred income 479 1,685 269 128 2,561
---------- ----------- ---------- ---------- -----------
Total trade and other payables 582 2,241 830 339 3,992
---------- ----------- ---------- ---------- -----------
Interest bearing loan - 4,050 - - 4,050
---------- ----------- ---------- ---------- -----------
Total financial liabilities
at 28 February 2011 582 6,291 830 339 8,042
---------- ----------- ---------- ---------- -----------
The Group conducts its operations in other jurisdictions where
the local currency is different from the Group's reporting currency
and therefore is subject to fluctuations in exchange rates. These
risks are monitored by the board on a regular basis. The Group does
not hedge against the effects of exchange rates.
Fair values
The directors have reviewed the financial statements and have
concluded that there is no significant difference between the book
values and the fair values of the assets and liabilities of the
Group as at 29 February 2012 and as at 28 February 2011.
Capital management
The Group's objective, when managing share capital and
cumulative reserves ("Capital"), is to safeguard the Group's
ability to continue as a going concern in order to provide returns
for shareholders and benefits for other stakeholders. The Group
places funds which are not required in the short term on deposit at
the best interest rates it is able to secure from its bankers.
The Group plans its capital requirements regularly. The
requirement for capital is satisfied by the issue of shares and the
issue of convertible loan notes.
At the reporting date, the Group currently had in issue
convertible loan notes to the value of US$5,700,000. These earn
interest at a rate of 10% per annum compounded annually. Redemption
date for this instrument falls due 5 years from issue (1 February
2016). Refer to note 33 Events after the reporting period for
details on instruments issued after year end.
2012 2011
$'000 $'000
Total borrowings 5,271 4,050
----------- -----------
Net debt 5,271 4,050
Total equity 6,807 19,446
----------- -----------
Total capital (debt and equity) 12,078 23,496
----------- -----------
Gearing ratio 44% 17%
Sensitivity analysis
Financial instruments affected by market risk include cash and
cash equivalents, trade and other receivables and trade and other
payables. The following analysis, required by IFRS 7, Financial
Instruments: Disclosures, Transfers of Financial Assets, is
intended to illustrate the sensitivity of the Group's financial
instruments (at year end) to changes in market variables, being
exchange rates and interest rates.
The following assumptions were made in calculating the
sensitivity analysis:
-- all income statement sensitivities also impact equity;
-- all financial instruments are carried at amortised cost and
therefore carrying value does not change as interest rates move;
and
-- translation of foreign subsidiaries and operations into the
Group's presentation currency have been excluded from this
sensitivity.
Exchange rates: Income Statement Equity
2012 $'000 $'000
----------- -----------
+ 5% US$ Sterling 15 15
- 5% US$ Sterling (15) (15)
+ 5% US$ Rand 26 26
- 5% US$ Rand (26) (26)
+ 5% US$ Mozambique New Metical 50 50
- 5% US$ Mozambique New Metical (50) (50)
2011 $'000 $'000
----------- -----------
+ 5% US$ Sterling (29) (29)
- 5% US$ Sterling 29 29
+ 5% US$ Rand (32) (32)
- 5% US$ Rand 32 32
+ 5% US$ Mozambique New Metical 18 18
- 5% US$ Mozambique New Metical (18) (18)
The Group does not hold any financial assets other than cash
whose value is affected by changes in interest rates.
Income Statement Equity
2012 $'000 $'000
----------- -----------
+ 20 bp increase in interest rates - -
+ 50 bp increase in interest rates - -
- 20 bp increase in interest rates - -
- 50 bp increase in interest rates - -
2011 $'000 $'000
----------- -----------
+ 20 bp increase in interest rates 9 9
+ 50 bp increase in interest rates 23 23
- 20 bp increase in interest rates (9) (9)
- 50 bp increase in interest rates (23) (23)
The above sensitivities are calculated with reference to a
single moment in time and will change due to a number of factors
including:
-- fluctuating trade receivable and trade payable balances
-- fluctuating cash balances
-- changes in currency mix
4. Critical accounting estimates and judgements
The preparation of financial statements in conformity with IFRS
requires the use of certain critical accounting estimates. It also
requires management to exercise its judgement in the process of
applying the Group's accounting policies. The estimates and
assumptions that have a significant risk of causing a material
adjustment to the carrying amounts of assets and liabilities within
the next financial year are discussed below:
Impairments
African Med (LSE:AMEI)
Gráfico Histórico do Ativo
De Mai 2024 até Jun 2024
African Med (LSE:AMEI)
Gráfico Histórico do Ativo
De Jun 2023 até Jun 2024
