FINANCIAL
STATEMENTS
Alliance Investment
is committed to providing transparency and
scrutiny in its operations. We are therefore
pleased to provide a summary of our 2002/2003
audited Financial Statements.
*Full set of
Audited Financial Results available at offices of
Alliance Investment Management Limited |
|
|
|
2003 |
2002 |
BALANCE
SHEET
As at September 30, 2003
|
(000's) |
(000's) |
|
|
|
Cash
|
229,862 |
34,079 |
|
|
|
Accounts
Receivable
& Prepaid Expenses
|
162,496 |
108,471 |
|
|
|
Investments
|
2,256,114 |
2,197,025 |
|
|
|
Securities
Purchased &
Resale Agreements |
1,000,117 |
505,818 |
|
|
|
| Income
Tax Recoverable |
20,127 |
5,119 |
|
|
|
Fixed
Assets
|
3,806 |
5,284 |
|
|
|
| Other Assets |
20,870 |
16,149 |
|
|
|
Deferred
Tax Asset
|
5,650 |
- |
|
|
|
|
3,699,042 |
2,871,945 |
|
|
|
Liabilities
& Equity
|
|
|
| Liabilities: |
|
|
|
|
|
| Accounts
Payable & Accrued Charges |
95,963 |
39,785 |
| Notes
Payable |
429,263 |
329,876 |
| Repurchase
Agreements |
3,066,079 |
2,390,135 |
|
|
|
| Owed
to Related Company |
1,030 |
415 |
|
|
|
| Deferred Tax Liability |
- |
5,480 |
|
|
|
| Shareholder's
Equity |
106,707 |
106,254 |
|
|
|
|
3,699,042 |
2,871,945 |
|
|
|
INCOME
STATEMENT
For year ended September 30, 2003
|
|
|
|
|
|
| Operating
Revenue |
495,706 |
362,993 |
Less:
 Operating
Expense |
(
44,639) |
(
39,652) |
| Interest
Expense |
(431,161) |
(312,456) |
|
|
|
| Operating
Profit |
19,906 |
10,885 |
|
|
|
| Other
Income: |
|
|
| Gain on
Sale
of Investment |
9,596 |
- |
| Appreciation in Value of
Investment |
- |
16,096 |
| Miscellaneous
(Expense)/Income |
(132) |
98 |
| Exchange (Losses)/Gains
|
(1,597) |
1,559 |
| Joint Venture Income |
750 |
- |
Interest (Expense)/Income
on Bank Accounts |
(1,705) |
413 |
|
|
|
| Profits
before Income Tax |
26,818 |
29,051 |
|
|
|
| Income
Tax Credit |
11,130 |
8,042 |
|
|
|
|
|
|
| Net
Profit after Tax |
37,948 |
37,093 |
|
|
|
|
|
|
|
|
2003 |
|
2002 |
|
2001 |
|
|
|
|
|
|
|
| Return
on Equity (%) |
|
35.5% |
|
34.9% |
|
41.3% |
|
|
|
|
|
|
|
| Total
Assets (000's) |
|
3,699,042 |
|
2,871,945 |
|
2,198,741 |
|
|
|
|
|
|
|
| Profit
after Tax (000's) |
|
37,948 |
|
37,093 |
|
36,502 |
|
|
|
MARKET UPDATE
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