ONE of the unofficial pointers for listed company performance is the timing of the delivery of interim and full year financial statements to shareholders. Companies that reported their end December interim of final results proverbially at the last minute included: John Daniel Holdings, Beget, Pasdec, Samroc, Good Hope Diamonds, Don and Namsea. Maybe it's a coincidence, but all these companies presented unconvincing figures - either lacking convincing cash flows, bottom line profits and strong balance sheets. By and large, the laggards in reporting financial results to shareholders are apt to produce bad news. In extreme cases a reluctance to produce financial results has been a portent of really bad tidings. Basically the JSE requires listed companies to publish their interim and full year statements within three months of the end of the half year and full year trading periods. Generally listed companies publish their interim and full year results within six to eight weeks of the conclusion to the trading period. Industrial blue chip African Oxygen (Afrox)* - a company with turnover of around R8bn - has set a remarkable example of publishing its results roughly 30 days after the end of the interim and annual trading periods. There are listed companies that occasionally have a valid reason for not being able to report results timeously. The key members of a small auditing firm may have taken seriously ill, or there may be a corporate dispute over assets and shares. Fin24: Monday Bruise: The unbearable lateness of being Apr 10 2006 07:44 81 Marc Hasenfuss
