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Issue of Options & Fully Paid Ordinary Shares

Document date:  Thu 28 Oct 1999
Published:  Tue 09 Nov 1999 15:06:48
Document No:  154462
Document part:  A
Market Flag:  N
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    36,723       29,954

1.2  Other revenue                                 340          714

1.3  Total revenue                              37,063       30,668

1.4  Operating  profit (loss) before
     abnormal items and tax                      2,730        2,358

1.5  Abnormal items before tax
     (detail in item 2.4)                            -          357

1.6  Operating profit (loss) before tax
     (items 1.4 + 1.5)                           2,730        2,715

1.8  Operating profit (loss) after tax
     but before outside equity interests         1,705        1,675

1.9  Less outside equity interests                (52)         (57)

1.10 Operating profit (loss) after tax
     attributable to members                     1,757        1,732
 
1.11 Extraordinary items after tax
     (detail in item 2.6)                            -            -

1.12 Less outside equity interests                   -            -

1.13 Extraordinary items after tax
     attributable to members                         -            -

1.14 Total operating profit (loss) and
     extraordinary items after tax 
     (items 1.8 + 1.11)                          1,705        1,675

1.15 Operating profit (loss) and
     extraordinary items after tax 
     attributable to outside equity 
     interests (items 1.9 + 1.12)                 (52)         (57)

1.16 Operating profit (loss) and
     extraordinary items after tax 
     attributable to members 
     (items 1.10 + 1.13)                         1,757        1,732

1.17 Retained profits (accumulated losses)
     at beginning of financial period            8,391        3,782

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                                   -            -

1.20 Total available for appropriation          10,148        5,514

1.21 Dividends provided for or paid                  -            -

1.22 Aggregate of amounts transferred
     to reserves                                     -            - 

1.23 Retained profits (accumulated losses)
     at end of financial period                 10,148        5,514


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
     goodwill                                    1,715        1,685

1.25 Less (plus) outside equity interests         (52)         (57)

1.26 Operating profit(loss) after tax 
     (before amortisation of goodwill) 
      attributable to members                    1,767        1,742



INTANGIBLE, ABNORMAL AND EXTRAORDINARY ITEMS

                                   Consolidated  -  current period

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

2.1 Amortisation of 
2.2 Amortisation of 
    other intangibles             -         -         -           -

2.3 Total amortisation 
2.4  Abnormal items               -         -         -           -

2.5  Total abnormal items         -         -         -           -

2.6  Extraordinary items          -         -         -           -

2.7  Total extraordinary
     items                        -         -         -           -


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                          2,695        4,283        2,480
4.2   Receivables                  20,320       20,909       16,761
4.3   Investments                   4,841        4,729        3,583
4.4   Inventories                      62           97          102
4.5   Other (provide details
      if material)                 14,455        8,971       10,081

4.6   Total current assets         42,373       38,989       33,007

      NON-CURRENT ASSETS
4.7   Receivables                   1,554        2,619        2,083
4.8   Investments                   4,882        2,207        2,817
4.9   Inventories                       -            -            -
4.10  Exploration and
      evaluation expenditure
      capitalised                       -            -            -
4.11  Development properties
      (mining entities)                 -            -            -
4.12  Other property, plant and
      equipment (net)              10,011        9,578        8,020
4.13  Intangibles (net)               170          177          169
4.14  Other (provide details
      if material)                 11,117        7,703        6,766

4.15  Total non-current assets     27,734       22,284       19,855

4.16  Total assets                 70,107       61,273       52,862

      CURRENT LIABILITIES
4.17  Accounts payable              6,052        3,787        4,383
4.18  Borrowings                   11,685        3,533           16
4.19  Provisions                      275          364          337
4.20  Other (provide details
      if material)                  4,225       11,231        7,812

4.21  Total current liabilities    22,237       18,915       12,548

      NON-CURRENT LIABILITIES
4.22  Accounts payable                  -            -            -
4.23  Borrowings                        -            -           28
4.24  Provisions                   11,578        7,932        8,664
4.25  Other (provide details 
      if material)                      -            -            -

4.26  Total non-current
      liabilities                  11,578        7,932        8,692

4.28  Net assets                   36,292       34,426       31,622

      EQUITY
4.31  Retained profits
      (accumulated losses)         10,148        8,391        5,514 
4.32  Equity attributable to
      members of the parent
      entity                       36,485       34,567       31,678
4.33  Outside equity interests
      in controlled entities        (193)        (141)         (56)

4.34  Total equity                 36,292       34,426       31,622

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
                                                AUD000       AUD000

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)                                     -            -


CONSOLIDATED STATEMENT OF CASH FLOWS
(See note 6)
                                               Current     Previous
                                                period  corresponding
                                                            period
7.1   Receipts from customers                   38,288       24,706

7.2   Payments to suppliers and 
      employees                               (36,676)     (22,689)

7.3   Dividends received                             -            -

7.4   Interest and other items 
      of similar nature received                    41          126

7.5   Interest and other costs
      of finance paid                            (251)         (15)

7.6   Income taxes paid                              -            -

7.7   Other (provide details if
      material)                                  (903)      (1,096)

7.8   Net operating cash flows                     499        1,032
                                               
CASH FLOWS RELATED TO INVESTING ACTIVITIES
7.9   Payment for purchases of
      property, plant and equipment              (964)      (2,908)

7.10  Proceeds from sale of
      property, plant and equipment                 22           29

7.11  Payment for purchases of
      equity investments                             -            -

7.12  Proceeds from sale of
      equity investments                             -            -

7.13  Loans to other entities                        -            -

7.14  Loans repaid by other entities                 -            -

7.15  Other (provide details if
      material)                                (9,445)      (2,657)
                                               
7.16  Net investing cash flows                (10,387)      (5,536)

CASH FLOWS RELATED TO FINANCING ACTIVITIES
7.17  Proceeds from issues of
      securities (shares,
      options, etc.)                               148            -

7.18  Proceeds from borrowings                   8,186            -

7.19  Repayment of borrowings                        -            -

7.20  Dividends paid                                 -            -

7.21  Other (provide details if
      material)                                    (4)         (18)

7.22  Net financing cash flows                   8,330         (18)

NET INCREASE (DECREASE) IN CASH HELD           (1,558)      (4,522)

7.23  Cash at beginning of period
      (see Reconciliation of cash)               4,253        7,002

7.24  Exchange rate adjustments
      to item 7.23.                                  -            -

7.25  Cash at end of period

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.

 N/A


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
8.2  Deposits at call                                -            -

8.3  Bank overdraft                                  -            -

8.4  Other (provide details)                         -            -
 
8.4  Total cash at end of

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)                                   7.43 %       7.87 %

     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)                       4.82 %        5.47 %


EARNINGS PER SECURITY (EPS)

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

    (a)  Basic EPS                                3.79 c       3.74 c

    (b)  Diluted EPS (if materially               3.70 c       3.67 c
         different from (a))


NTA BACKING                                   Current     Previous
 (see note 7)                                   period   corresponding
                                                             period
11.1 Net tangible asset backing
     per ordinary security                          78 c         68 c

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