Elexir Technology Holdings continues to struggle, with headline earnings per share falling by 69% to 138c in the year to August.
<B>Salient figures</B>
Elexir results for the year to 31 August 2003.
Previous year`s figures in parentheses.
Revenue: R40.9m (R71.21 m)
Operating profit: R2.23m (R2.24m)
Profit before tax: R1.83m (R2.08m)
Profit after tax: R1.89m (R4.52m)
EPS: 132c (316c)
HEPS: 96c (310c)
Current assets: R8.357m (R15.547m)
Cash and equivalents: R1.39m (R760 000)
Current liabilities: R13.66m (R21.39m)
Cash generated from operations: R785 000 (R5.89m)
Revenue decreased by 43% to R40.9 million from a previous R71.21 million, while after-tax profit was 58% lower at R1.89 million (2002: R4.52 million).
Although the company`s turnover decreased to R40.9 million, gross profit margins improved with less reliance being placed on its hardware sales and new IT opportunities being found for managed service revenue streams.
Elexir`s auditor Russell Bedford drew attention in the audited statement to the excess of current liabilities over current assets, indicating that the company could still be exposed to significant demands on its cash resources.
The directors did not recommend the payment of a dividend.
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