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Preliminary Final Report & On-Market Buy-Back

Document date:  Wed 03 Nov 1999
Published:  Wed 03 Nov 1999 12:56:32
Document No:  154638
Document part:  G
Market Flag:  Y
Classification: 

HOMEX - Sydney                                                        

+++++++++++++++++++++++++
(Not Equity Accounted)

CONSOLIDATED PROFIT AND LOSS ACCOUNT
(These figures are NOT equity accounted)
                                                CURRENT     PREVIOUS
                                                PERIOD   CORRESPONDING
                                                             PERIOD
                                                AUD000       AUD000

1.1  Sales (or equivalent operating) revenue         -            -

1.2  Other revenue                               3,218        1,828

1.3  Total revenue                               3,218        1,828

1.4  Operating  profit (loss) before
     abnormal items and tax                          5        1,307

1.5  Abnormal items before tax
     (detail in item 2.4)                            -            -

1.6  Operating profit (loss) before tax
     (items 1.4 + 1.5)                               5        1,307

1.7  Less tax*                                    (33)           47

1.8  Operating profit (loss) after tax
1.9  Less outside equity interests                   -            -

1.10 Operating profit (loss) after tax
1.11 Extraordinary items after tax
     (detail in item 2.6)                            -            -

1.12 Less outside equity interests                   -            -

1.13 Extraordinary items after tax
1.14 Total operating profit (loss) and
     extraordinary items after tax 
1.15 Operating profit (loss) and
     extraordinary items after tax 
     attributable to outside equity 
1.16 Operating profit (loss) and
     extraordinary items after tax 
     attributable to members 
1.17 Retained profits (accumulated losses)
     at beginning of financial period            3,760        6,516

1.18 If change in accounting policy as set
     out in clause 11 of AASB 1018 Profit
     and Loss Accounts, adjustments as
     required by that clause(include brief
     (description)                                   -            -

1.19 Aggregate of amounts transferred
     from reserves                                  43            -

1.20 Total available for appropriation           3,841        7,776

* The income tax expense differs by more than 15% from the prima facie
tax payable due to the effects of capital gains tax and carried 
forward losses.

1.21 Dividends provided for or paid              1,115        1,859

1.22 Aggregate of amounts transferred
     to reserves                                     -            - 

1.23 Retained profits (accumulated losses)
     at end of financial period                  2,726        5,917


PROFIT RESTATED TO EXCLUDE                     Current      Previous
AMORTISATION OF GOODWILL                        Period   Corresponding
                                                             Period
                                                AUD000       AUD000   

1.24 Operating profit(loss) after tax
     before outside equity interests
    (items 1-8) and amortisation of
1.25 Less (plus) outside equity interests            -            -

1.26 Operating profit(loss) after tax 
     (before amortisation of goodwill) 


INTANGIBLE, ABNORMAL AND EXTRAORDINARY ITEMS

                                   Consolidated  -  current period

                             Before   Related   Related     Amount 
                               tax      tax     outside     (after 
                                                 equity       tax)
                                               interests  attributable
                                                           to members

                             AUD000    AUD000    AUD000      AUD000

2.1 Amortisation of 
    goodwill                      -         -         -           -

2.2 Amortisation of 
    other intangibles             -         -         -           -

2.3 Total amortisation 
2.4  Abnormal items               -         -         -           -

2.6  Extraordinary items          -         -         -           -

2.7  Total extraordinary

COMPARISON OF HALF YEAR PROFITS                Current     Previous
(Preliminary final statement only)               year         year
     (loss) after tax attributable 
     to members reported for the 1st 
     half year (item 1.10 in the
     half yearly report)                             -            -
    
3.2  Consolidated operating profit              
     (loss) after tax attributable 
     to members for the 2nd half year                -            - 


CONSOLIDATED BALANCE SHEET
(See note 5)
                                  At end of  As in last    As in last
                                   current     annual     half yearly
                                   period      report      report
4.1   Cash                            279          625          824
4.2   Receivables                   2,290        1,655        4,178
4.3   Investments                       -            -            -
4.4   Inventories                       -            -            -
4.5   Other (provide details
      if material)                      -            -           20

4.6   Total current assets          2,569        2,280        5,022

      NON-CURRENT ASSETS
4.7   Receivables                       -            -            -
4.8   Investments                  40,005       42,046       42,555
4.9   Inventories                       -            -            -
4.10  Exploration and
      evaluation expenditure
      capitalised                       -            -            -
4.11  Development properties
      (mining entities)                 -            -            -
4.12  Other property, plant and
      equipment (net)                   -            -            -
4.13  Intangibles (net)                 -            -            -
4.14  Other (provide details
      if material)                    131           82            -

4.15  Total non-current assets     40,136       42,128       42,555

4.16  Total assets                 42,705       44,408       47,577

      CURRENT LIABILITIES
4.17  Accounts payable                 81           61        1,065
4.18  Borrowings                        -            -            -
4.19  Provisions                    1,272        1,750        1,869
4.20  Other (provide details
      if material)                      -            -            -

4.21  Total current liabilities     1,353        1,811        2,934

      NON-CURRENT LIABILITIES
4.22  Accounts payable                  -            -            -
4.23  Borrowings                        -            -            -
      if material)                      -            -            -

4.26  Total non-current
4.27  Total liabilities             1,353        2,022        3,034

4.28  Net assets                   41,352       42,386       44,543

      EQUITY
4.29  Capital                      18,587       37,174       37,174
4.30  Reserves                     20,039        1,452        1,452
4.31  Retained profits
      (accumulated losses)          2,726        3,760        5,917 
4.32  Equity attributable to
      members of the parent
      entity                       41,352       42,386       44,543
4.33  Outside equity interests
      in controlled entities            -            -            -

4.34  Total equity                 41,352       42,386       44,543

4.35  Preference capital and
      related premium included 
      as part of 4.32                   -            -            -


EXPLORATION AND EVALUATION EXPENDITURE CAPITALISED
To be completed only by entities with mining interests if amounts are
material. Include all expenditure incurred regardless of whether 
written off directly against profit.
                                               Current     Previous
                                                period  corresponding
                                                             period
5.1  Opening balance                                 -            -
   
5.2  Expenditure incurred                            
     during current period                           -            -

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 4.10)                                     -            -


DEVELOPMENT PROPERTIES
(To be completed only by entities with mining interests if amounts 
are material)
                                               Current     Previous
                                                period  corresponding
                                                             period
6.1  Opening balance                                 -            -

6.2  Expenditure incurred 
     during current period                           -            -

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 4.11)                                     0            0


CONSOLIDATED STATEMENT OF CASH FLOWS
(See note 6)
                                               Current     Previous
                                                period  corresponding
                                                            period
7.1   Receipts from customers                        -            4

7.2   Payments to suppliers and 
      employees                                  (383)        (313)

7.3   Dividends received                            53        1,439

7.4   Interest and other items 
      of similar nature received                     -            -

7.5   Interest and other costs
      of finance paid                               62          266

7.6   Income taxes paid                              -            -

7.7   Other (provide details if
      material)                                     11            -

7.8   Net operating cash flows                   (257)        1,396
                                               
CASH FLOWS RELATED TO INVESTING ACTIVITIES
7.9   Payment for purchases of
      property, plant and equipment                  -            -

7.10  Proceeds from sale of
      property, plant and equipment                  -            -

7.11  Payment for purchases of
      equity investments                         (770)      (1,312)

7.12  Proceeds from sale of
      equity investments and bills of exchange   2,434        3,549

7.13  Loans to other entities                        -            -

7.14  Loans repaid by other entities                 -            -

7.15  Other (Capital Gains Tax)                  (266)      (1,117)
                                               
CASH FLOWS RELATED TO FINANCING ACTIVITIES
7.17  Proceeds from issues of
      securities (shares,
      options, etc.)                                 -            -

7.18  Proceeds from borrowings                       -            -

7.19  Repayment of borrowings                        -            -

7.20  Dividends paid                           (1,487)      (2,230)

7.21  Other (provide details if
      material)                                      -            -

7.22  Net financing cash flows                 (1,487)      (2,230)

NET INCREASE (DECREASE) IN CASH HELD             (346)          286

7.23  Cash at beginning of period
      (see Reconciliation of cash)                 625          538

7.24  Exchange rate adjustments
      to item 7.23.                                  -            -

7.25  Cash at end of period
     (see Reconciliation of cash)                  279          824


NON-CASH FINANCING AND INVESTING ACTIVITIES
Details of financing and investing transactions which have had a 
material effect on consolidated assets and liabilities but did not
involve cash flows are as follows. If an amount is quantified, show
comparative amount.

 Nil


RECONCILIATION OF CASH

Reconciliation of cash at the end of           Current     Previous
the period (as shown in the consolidated        period   corresponding
statement of cash flows) to the related                     period
8.1  Cash on hand and at bank                      279          824

8.2  Deposits at call                                -            -

8.3  Bank overdraft                                  -            -

8.4  Other (provide details)                         -            -
 
8.4  Total cash at end of
     period (item 7.25)                            279          824


RATIOS                                         Current     Previous
                                                period   corresponding
                                                             period
     PROFIT BEFORE ABNORMALS AND TAX/SALES
9.1  Consolidated operating profit (loss) 
     before abnormal items and tax (item 
     1.4) as a percentage of sales revenue 
     (item 1.1)                                    N/A %        N/A %

     PROFIT AFTER TAX / EQUITY INTERESTS
9.2  Consolidated operating profit (loss) 
     after tax attributable to members
     (item 1.10) as a percentage of equity
     (similarly attributable) at the end of 
     the period (item 4.31)                        0.1 %        2.8 %


EARNINGS PER SECURITY (EPS)

10.1 Calculation of basic, and fully diluted, 
     EPS in accordance with 
     "AASB 1027: Earnings per Share"

    (a)  Basic EPS                                 0.1 c        3.4 c

    (b)  Diluted EPS (if materially                  - c          - c
         different from (a))


NTA BACKING                                   Current     Previous
 (see note 7)                                   period   corresponding
                                                             period
11.1 Net tangible asset backing
     per ordinary security                         111 c        120 c

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