Cape Town - Financial services group Zeltis Holdings made a net loss of R307 000 for the six months to December, an improvement on the R24.3 million loss for the 12 months to June last year.
The company reported gross revenue of R5.73 million compared with R5.29 million in the last interim period. Operating costs were lower at R4.91 million from R7.46 million. Profit before finance costs came in at R995 000 compared with a R21.18 million loss at year-end. Finance costs were static at R1.3 million when compared with the previous interim period. The headline loss a share was 0.1c versus a 2c loss at the same time last year.
The balance sheet showed tangible assets at R2.36 million and intangible assets at R11.3 million. Cash and cash equivalents were at a relatively healthy R9.18 million compared with R2.99 million cash at year-end. No interim dividend was declared.
The company recently alerted shareholders to a related party transaction involving the sale of a 25 percent stake in listed property company Good Cape to Dennis Hellmann, chairman of Zeltis. Zeltis' shares were being consolidated on a one-for-five basis, while shareholders had also been notified of the disposal of various other operations.
This month the results of a clawback rights offer resulted in R7.84 million being raised partly through debt conversion and raising R2.1 million of new capital.
Management said they would focus on the "core activities of the company" namely Denverdraft Agency, the Gauteng-based white- and blue-collar labour recruiter. The other main activity was the technology investment in Lexshell 311 Investments, which markets a call centre, and what Zeltis claims was the "most marketable hand-held real time stock and share price monitor".
Zeltis stock was untraded at 1c in Johannesburg yesterday.