Interim Results

ZCCM Invs.Hldgs PLC 28 September 2007 DIRECTORS' HALF YEARLY SUMMARY FOR THE PERIOD ENDED 30 JUNE 2007 Please find attached herewith the Directors' Half Yearly Summary for the period ended 30 June 2007. ZCCM INVESTMENTS HOLDINGS PLC Directors' Half Yearly Summary for Period Ended 30 June 2007 DIRECTORS Mr A J Lungu (Non-Executive) Chairman of the Board Mr C Evans Chibiliti Director Mr L Nkhata Director Dr B Nsemukila Director Dr D H Kalyalya Director Mrs L I Ng'andwe Director Mr 0 B Munyenyembe Director Management Committee Chief Executive Officer Chairman Mr J M Chikolwa Company Secretary Mr W S Musama Technical Manager Mr J M D Patterson Legal Investments Manager Mr J K Kaite Environmental Manager Mr J Makumba Acting Finance Manager Mr P Mapani Acting Investments Manager Mr K K Mulaisho Technical Officer Mr W K Katoto Corporate Officer Mr C Chabala Committee Secretary ZCCM INVESTMENTS HOLDINGS Plc And its subsidiary companies DIRECTORS' HALF YEARLY SUMMARY The accompanying unaudited consolidated interim financial statements are for the six months to 30 June 2007. ZCCM - IH Group (Group) turnover during the six months to 30 June 2007 was more than double that of the six month period to 30 June 2006. The recorded operational expenditure was K66,748 million for the half year ended 30 June 2007 compared to K48,372 million for the corresponding period to 30 June 2006. The results for the period are further analysed as follows:- The increase in Group turnover to K100,143 million for the period to 30 June 2007 from K41,637 million for the corresponding period in the previous financial year, was mainly as a result of dividend receivable of K18,707 million (K2,998 million for the six months to June 2006), metal price participation income of K18,695 million (K2,318 million for the six months to 30 June 2006). The turnover of Ndola Lime Company Limited (NLC) increased substantially from K36,559 million for the period to 30 June 2006 to K59,745 million for the period to 30 June 2007. The increase was mainly due to an increase in the selling price of lime. The dividends declared to the Group for the period to 30 June 2007 were significantly higher than the corresponding period to 30 June 2006. In some cases, the Group received a dividend from investments that had not previously declared a dividend. Similarly, a higher price participation income was received largely due to the increase in the copper price and production levels achieved by the associate companies in which the Group is invested. The above activities led to the Group recording an operating profit of K33,395 million for period under review compared to a loss of K6,735 million for the period to June 2007. A retained profit of K126,081 million was recorded by the Group during the period under review, against a loss of K57,191 million for the period to 30 June 2006. This profit was mainly on account of translation gains on foreign denominated liabilities. The Group expended considerable amount of resources towards the legacy environmental obligations such as the resettlement programme in Kitwe, the dredging of the Luanshya river and a water reticulation project for the Kabwe residents. During the period Mr G K Chibuye, Chairman of the Board, retired on 20 April 2007 and Mr A J Lungu was appointed in his stead. The Group intends to significantly improve its investment portfolio. The principle aim will be to maximise the return to the shareholders as well as mitigate its exposure in the copper industry By Order of the Board W S Musama Company Secretary Lusaka 26 September 2007 ZCCM INVESTMENTS HOLDINGS PLC GROUP PROFIT AND LOSS ACCOUNT FOR THE SIX MONTHS ENDED 30 JUNE 2007 SIX MONTHS ENDED SIX MONTHS ENDED 30 June 2007 30 June 2006 Consolidated Consolidated notes K' million K'million Turnover 1 100,143 41,637 Cost of turnover 2 (66,458) (48,372) Operating profit/(loss) 33,685 (6,735) Exchange gain/loss 108,711 (42,157) Environmental expenses (8,625) (6,907) Interest charge (1,911) (1,811) Interest Income 1,478 2,691 Royalty on Minerals (1,189) (735) Profit (loss) before taxation 132,149 (55,654) Income tax (6,068) (1,537) Retained profit/loss 126,081 (57,191) Notes: 1 & 2 Represents Revenue/Sales and administrative costs/cost of sales for the Company and its subsidiary 3 The exchange rates applied are: 30 June 2007 US$ = K3,779 30 June 2005 US$ = K3,582 30 December 2006 US$ = K4,415 30 December 2005 US$ = K3,538 ZCCM INVESTMENTS HOLDINGS PLC GROUP BALANCE SHEET As at 30 June 2007 As at 30 June 2006 K'million K'million Current assets Bank & cash 43,813 83,287 Inventories 33,428 34,552 Other debtors 357,260 305,132 Total current assets 434,501 422,971 Current liabilities Creditors (52,808) (48,158) Provisions (246,913) (309,931) Taxation (2,586) (2,529) Bank overdraft (3,252) (4,426) Total current liabilities (305,559) (365,044) Net Current Assets 128,942 57,927 Long term receivables 0 16,430 Investments 511,153 472,416 Fixed assets 15,918 13,246 Long term borrowings (1,132,027) (977,658) Subordinated loan (865,445) (865,445) Total Net Liabilities (1,341,459) (1,283,082) Financed by: Share capital 893 893 Grant reserves 11,975 3,038 Reserves (1,354,327) (1,287,013) Total shareholders' funds (1,341,459) (1,283,082) ZCCM INVESTMENTS HOLDINGS PLC GROUP CASH FLOW STATEMENT SIX MONTHS ENDED SIX MONTHS ENDED 30 June 2007 30 June 2006 K'million K'million Operating activities Cash received from customers 50,634 24,472 Net cash generated from operating activities (24,210) (12,649) 26,424 11,823 Interest received and other operating income 1,478 5,009 Interest paid (1,911) (785) Taxation paid (3,968) (1,829) Net cashflow from operating activities 22,023 14,218 Investing activities Purchase of Investments and fixed assets (12,959) (54,716) Proceeds from sale of fixed assets 0 256 Proceeds from sale of operating units 10 446 (12,949) (54,014) Financing activities Long term borrowings received 4,103 4,512 Long term borrowings paid (507) (547) Short term borrowings received 0 48,000 Short term borrowings paid (64,675) (973) Grants 1,895 924 Net cashflow from Investing activities (59,184) 51,916 Dividend received 17,051 484 (42,133) 52,380 Net cash inflow/(outflow) for period (33,059) 12,584 Cash balances at start of period Cash and bank balances 74,636 66,278 Bank Overdrafts (1,016) - 73,620 66,278 Cash balances at end of period Cash and bank balances 43,813 83,287 Bank Overdrafts (3,252) (4,426) 40,561 78,861 CORPORATE LOCATIONS Registered Office UK Registrars Mukuba Pension House CAPITA IRG Plc First Floor Bourne House 5309 Dedan Kimathi Road 34 Beckenham Road P0 Box 30048 Beckenham LUSAKA Kent BR3 4TU Lusaka, 10101, Zambia England Tel Numbers 260(01)221023 Tel No 020 8639 2000 220351 Fax No 020 8658 3430 220654 223833 Depository for American Shares Fax Numbers 260(01)221057 JP Morgan Chase & Co 220449 60 Wall Street 220727 New York NY 10260-0060 United States of America E-mail:corporate@zccm-ih.com.zm Tel No 001212 648 3207 Kitwe Office Fax No 001212 648 5104/5 Investments House Kantanta Street PO Box 20172 Kitwe Tel Numbers 260 (02) 245018 245054 245142 245126 245320 Fax Numbers 260 (02) 222638 222639 222640 E-mail:corporate@zccm-ih.com.zm This information is provided by RNS The company news service from the London Stock Exchange

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