SIETEL LIMITED — Interim / Quarterly Report 2003

Dec 11, 2003

AQUAMAX

FACSIMILE MESSAGE

To:	Manager Company Announcements Office	12 Dec. 2003Date:
	Company: Australian Stock Exchange	1900 999 279Fax No.
From:	Richard Rees - Managing Director Sietel Ltd
Subject:	Preliminary Final report for year end 30/9/03	No. of pages26(including this sheet)

Please find attached the following reports for release to the market and lodgement with the Australian Securities and Investments Commission.

1. Appendix 4E - Year end report as at 30 September, 2003

2. List of the top 20 shareholders for both ordinary and preference shareholders.

Yours faithfully, Mr Richard Rees Managing Director Sietel Limited $\bar{z}$

PRIVACY & CONFIDENTIALITY NOTICE:

The information contained in this facsimile is intended for the named recipients only. It may contain privileged and confidential information and if you are NOT an Intended recipient, you must not copy, distribute or take any action in reliance on it. If you have received this facsimile in error, please notify us immediately on any of the numbers listed below.

Sietel Limited	Address:		463-467 Warrigal Rd, Moorabbin, Victoria, Australia
ACN 004 217 734			Postal Address: PO Box 1195 Moorabbin, Victoria 3189
ABN 75 004 217 734	Telephone;	(03) 9553 5740	Fax: (03) 9532 5244

$\frac{1}{2}$

Appendix 4E Preliminary final report

Rule 4.3 A

Appendix 4E

Preliminary final report Period ending 30 September 2003

Name of entity
SIETEL LIMITED
PreliminaryHalf yearlyABN or equivalent companyfinal (tick)reference(nck)	Financial year ended ('current period')
004 217 734		30 SEPTEMBER, 2003
Results for announcement to the marketExtracts from this report for announcement to the market (see note $I$ ).		SA'000
Revenues from ordinary activities (item 1.1)	up/ down	21,734$8%$ to
Profit (loss) from ordinary activities after tax attributable tomembers (item 1.22)	up/down	102 % to987
Profit (loss) from extraordinary items after tax attributableto members ( item 2.5(d))	gain (loss)οf
Net profit (loss) for the period attributable to members(item 1.11)	102%up/down	987to
Dividends (distributions)	Amount per security	Franked amount persecurity
Final dividend (Preliminary final report only - item 15.4)Interim dividend (Half yearly report only - item 15.6)	N/A¢	ý.
Previous corresponding period (Preliminary final report -item 15.5; half yearly report - item 15.7)	¢	¢
Record date for determining entitlements to thedividend.(in the case of a trust, distribution) (see item $15.2$ )	N/A
A brief explanation of any of the figures reported above necessary to enable the figures to be understood.

$\hat{\mathcal{F}}_4$

01/01/2003

$\tilde{\mathbf{z}}$

Appendix 4EPreliminary final report

	Condensed consolidated statement of financial performance
		Current period -$A'000	Previous correspondingperiod - $A'000
1.1	Revenues from ordinary activities (see items 1.23$-1.25$	21,734	19,905
$1.2^{\circ}$	Expenses from ordinary activities (see items 1.26& 1.27)	20,396	18,310
1.3	Borrowing costs	227	233
1.4	Share of net profits (losses) of associates and jointventure entities (see item $16.7$ )
1.5	Profit (loss) from ordinary activities before tax	1,111	1,362
1.6	Income tax on ordinary activities (The variationfrom the prima facie tax of $333 is due to.Research and Development tax concessiondeductions.)	124	(637)
1.7	Profit (loss) from ordinary activities after tax	987	1,999
1.8	Profit (loss) from extraordinary items after tax(see item $2.5$ )
1,9	Net profit (loss)	987	1,999
1.10	Net profit (loss) attributable to outside $+$ equityinterests
1.11	Net profit (loss) for the period attributable tomembers	987	1,999
	Non-owner transaction changes in equity
1.121.131.141.15	Increase (decrease) in revaluation reservesNet exchange differences recognised in equityOther revenue, expense and initial adjustmentsrecognised directly in equity (attach details)Initial adjustments from UIG transitionalprovisions
1.16	Total transactions and adjustments recogniseddirectly in equity (items 1.12 to 1.15)	N/A	N/A
1.17	Total changes in equity not resulting fromtransactions with owners as owners
	Famings nor socurity (FDC)	Current period	Previousoorresponding

Earnings per security (EPS)		CUITEUI DEIRIO	PTEVIOUScorrespondingPeriod
Basic EPS1.18		12.33	24.96
Diluted EPS1.19		12.21	24.72

+ See chapter 19 for defined terms.

$\frac{1}{1}$

$\hat{\mathcal{A}}$

$\overline{\phantom{a}}$

Notes to the condensed consolidated statement of financial performance

Profit (loss) from ordinary activities attributable to members

		Current$A'000	period	Previouscorresponding period -$A'000
1.20	Profit (loss) from ordinary activities after tax 987(item 1.7)			--------------------------------------1.999
1.21	Less (plus) outside + equity interests
1.22	Profit (loss) from ordinary activities aftertax, attributable to members	987		1,999

Revenue and expenses from ordinary activities

(see note $15$ )

$\frac{1}{2}$

		Currentperiod	Previous
		SA'000	corresponding period -
	11		SA'000
1.23	Revenue from sales or services	20,526	18550
1.24	Interest revenue	51	39
1.25	Other relevant revenue	1,157	1,316
1.26 1	Details of relevant expenses
1.27	Depreciation and amortisationexcludingamortisation of intangibles (see item 2.3)	1,750	1,431
	Capitalised outlays
1.28	Interest costs capitalised in asset values
1,29	Outlays capitalised in intangibles (unlessarising from an $^+$ acquisition of a business)

Consolidated retained profits

		Current period -$A'000	Frevious correspondingperiod - $A'000
1.30	Retained profits (accumulated losses) at thebeginning of the financial period	4,316	2,317
1.31	Net profit (loss) attributable to members (item1.11)	987	1,999
1.32	Net transfers from (to) reserves (details ifmaterial)
1.33 1	Net effect of changes in accounting policies		637
1.34	Dividends and other equity distributions paidor pavable

$\ddot{\phantom{a}}$

$\overline{\phantom{0}}$

+ See chapter 19 for defined terms.

1.35	Retained profits (accumulated losses) at end	5,303	4,316
	of financial period

Intangible and extraordinary items

		Consolidated - current period
		Before taxSA'000$\left( a\right)$	Related tax$A'000(b)	Relatedouiside$+$ equityinterests$A'000	Amount (aftertax)attributable tomembers$A'000$\left( d \right)$
		34		$\rm(e)$	34
2.1	Amortisation of goodwill
$2.2,$	Amortisation of otherintangibles	$\mathcal{I}_\text{A}$
2,3	Total amortisation ofintangibles	34			34
2.4	Extraordinaryitems(details)
2.5	Total extraordinary items

Comparison of half year profits $(Preliminary final report only)$

$\frac{1}{1}$

• $3,1$ Consolidated profit (loss) from ordinary activities after tax attributable to members reported for the 1st half year (item 1.22 in the half yearly report)
• Consolidated profit (loss) from ordinary $3.2$ activities after tax attributable to members for the 2nd half year

÷,

Current year - $A'000	Previous year - $A'000
255	456
732	1,543

+ See chapter 19 for defined terms.

	Condensed consolidated statement offinancial position	endAtofcurrent period$A'000	As shown in lastannual report$A'000	As in last halfyearly reportSA'000
	Current assets
4.1	Cash	1,901	1,297	729
4.2		1,449	1,177	1,202
	Receivables
4.3	Investments		1,494
4.4	Inventories	2,393		2,013
4.5	Tax assets	85
4.6	Other (provide details if material)		98	114
4.7	Total current assets	5,828	4,065	4,058
	Non-current assets
4.8	Receivables	85	125	105
4.9	Investments (equity accounted)
4.10	Other investments	29	29	29
4.11	Inventories
4.12	Exploration and evaluation expenditurecapitalised (see para .71 of AASB
	1022)
4.13	$($ † miningDevelopmentpropertiesentities)
4.14	Other property, plant and equipment(nct)	11,349	11,698	11,492
4.15	Intangibles (net)	385	419	401
4.16	Tax assets	840	868	788
4.17	Other (provide details if material)	319	526	466
		13,006	13,664	13,281
4.18	Total non-current assets	18,834	17,729	17,339
4.19	Total assets
	Current liabilities
4.20	Payables	2,293	1,706	1,186
4.21	Interest bearing liabilities	1,318	1,911	2,034
4.22	Tax liabilities	337	219	103
4.23	Provisions exc. tax liabilities	3,031	2,605	2,704
4.24	Other (provide details if material)
4.25	Total current liabilities	6,979	6,441	6,027
	Non-current liabilities
4.26	Payables
4.27	Interest bearing liabilities	1,072	1,492	1,261
4.28	Tax liabilities
4.29	Provisions exc. tax liabilities
4,30	Other (provide details if material)
4.31	Total non-current liabilities	1,072	1,492	1,261

Condensed consolidated statement of financial position continued

$\frac{1}{2}$

$\bar{z}$

Appendix 4E Page 5

+ See chapter 19 for defined terms.

4,32	Total liabilities	8,051	7,933	7,288
4.33	Net assets	10,783	9,796	10,051
	Equity
4.34	Capital/contributed equity	4,257	4,257	4,257
4.35	Reserves	1,223	1,223	1,223
4.36	Retained profits (accumulated losses)	5,303	4.316	4,571
4.37	Equity attributable to members of the	10,783	9,796	10,051
	parent entity
4,38	Outside + equity interests in controlled
	entities
		10,783	9,796	10,051
4.39	Total equity
4.40	Preference capital included as part of	N/A	N/A	150
	4.37

Notes to the condensed consolidated statement of financial position

Exploration and evaluation expenditure capitalised

(To be completed only by entities with mining interests if amounts are material. Include all expenditure incurred.)

		Current period $A'000	Previouscorresponding period -$A'000
5.1	Opening balance	N/A	N/A
52	Expenditure incurred during current period
53	Expenditure written off during current period
5.4	Acquisitions, disposals, revaluationincrements, etc.
5.5	Expenditure transferred to DevelopmentProperties
56	Closing balance as shown in theconsolidated balance sheet ( item 4.12 )

Development properties(To be completed only by entities with mining interests if amounts are material)

		Current period $A'000	PreviouscorrespondingPeriod - $A'000
6,1	Opening balance	N/A	N/A
6.2	Expenditure incurred during current period
6.3	Expenditure transferred from exploration andevaluation
6.4	Expenditure written off during current period

• See chapter 19 for defined terms.

$\frac{1}{1}$ $\frac{1}{1}$ $\frac{1}{1}$

Consolidated

Statement of Cashflows

$\sim$ $\sim$

$\frac{1}{2}$

For the Financial Year Ended 30 September 2003

	2003s	2002$
Cash flows from Operating Activities
Receipts from Operations	22,345,732	20,684,653
Payments to Suppliers and Employees	(19, 335, 123)	(17,934,139)
Income tax paid	(53,798)	(12, 185)
Interest Received	51,226	38,652
Borrowing costs	(111,360)	(140, 532)
Net cash used in operating activities	2,896,678	2,636,449
Cash flows from Investing Activities
Payment for Property, Plant & Equipment	(1, 290, 831)	(582, 804)
Proceeds from Sale of Property Plant & Equipment	23,800	55,591
Proceeds from Sale Investments		683,636
Payment for Research and Development	(13, 329)	(26, 182)
Dividends received.	1,560	1,371
Net cash provided by investing activities	(1, 278, 800)	131,612
Cash Flows From Financing Activities
Loans (to)/repaid by Controlled Entities
Repayments of Borrowings	(1,013,236)	(2,569,238)
Receipts from issue of ordinary shares
Net cash used in financing activities	(1,013,236)	(2, 569, 238)
Net increase/(decrease) in Cash Held	604,642	198,823
Cash as at 1 October 2002	1,296,608	1,097,785
Cash as at 30 September 2003	1,901,250	1,296,608

Consolidated

$\frac{1}{1}$

CASH FLOW INFORMATION FOR THE YEAR ENDED 30 SEPTEMBER 2003

	NOTE XX: CASH FLOW INFORMATION
		2003	2002
		£	$
д,	Reconciliation of Cash
	Cash at end of the financial year as shown in the statements of cash flows is reconciled to the relateditems in the statement of financial position as follows:
	Cash on hand and at bank	1,901,250	1,296,608
	Bank overdrafts
		1,901,250	1,296,608
b.	Reconciliation of cash flow from operations with profit from ordinary activities after income tax
	Profit from ordinary activities after income tax	987,362	1,998,783
	Dividends received	(1, 560)	(1, 371)
	Non-cash flows in profit from ordinary activities
	Amortisation	250,360	166,081
	Depreciation	1,716,176	1,430,977
	Income Tax	124,284	(636, 794)
	(Gain) on debt forgiveness
	Write-off of bad debts
	Charges to provisions
	Increase/Decrease in provision for tax	(53, 798)	(12, 185)
	Increase in provision for employee entitlements	425,534	106,163
	(Profit) on sale of non current assets	(20,695)	(17,778)
	(Profit) on sale of Investments		(295, 625)
	Changes in assets and liabilities net of the effect of investing and financing activities
	(Increase) / Decrease in receivables	(232, 522)	254,678
	(Increase) / Decrease in other current assets	12,309	(25, 215)
	(Increase) / Decrease in inventories	(898, 951)	(190, 638)
	Increase / (Decrease) in payables	588,179
	Increase / (Decrease) in provisions		(140, 627)

Earnings per security (EPS)

10.	Details of basic and diluted EPS reported separately in accordance with paragraph 9 and 18 ofAASB 1027: Earnings Per Share are as follows.
	Profit/loss for the period $x 100%$ =Basic $EPS = No$ of ordinary securities	987,363 x 100%8,007,479	$= 12.33$
	Diluted EPS = $Protit/loss$ for the period $x 100%$ =No. of ordinary securities$+$ Preference securities	$987,363 \times 100%$8,007,479+75,000	$= 12.21$
${see note\ }$	NTA backing	Current period	Previous correspondingPeriod
11.1	Net tangible asset backing per + ordinarysecurity	123.40	110.59

$\ddot{\phantom{a}}$

Discontinuing Operations(Entities must report a description of any significant activities or events relating to discontinuing operations in accordancewith paragraph 7.5 (g) of AASB 1029: Interim Financial Reporting, o

12.1	Discontinuing Operations
$\mathbf{N}/\mathbf{A}$
	$\ddot{\phantom{a}}$
	$\Delta \phi = 0.01$ and $\Delta \phi$

$\ddot{\phantom{a}}$

+ See chapter 19 for defined terms.

			Preliminary final report
	Control gained over entities having material effect
	13.1 Name of entity (or group ofentities)	N/A
	13.2 Consolidated profit (loss) from ordinary activities andextraordinary items after tax of the controlled entity (orgroup of entities) since the date in the current period onwhich control was + acquired		$
	13.3 Date from which such profit has been calculated
	13.4 Profit (loss) from ordinary activities and extraordinaryitems after tax of the controlled entity (or group of entities)for the whole of the previous corresponding period		$
	Loss of control of entities having material effect
14.1	Name of entity (or group of entities)	N/A
14.2	Consolidated profit (loss) from ordinary activities andextraordinary items after tax of the controlled entity (or groupof entities) for the current period to the date of loss of control		$
14.3	Date to which the profit (loss) in item 14.2 has been calculated
14.4	Consolidated profit (loss) from ordinary activities andextraordinary items after tax of the controlled entity (or groupof entities) while controlled during the whole of the previouscorresponding period		S
14.5	Contribution to consolidated profit (loss) from ordinaryactivities and extraordinary items from sale of interest leadingto loss of control		S
	Dividends (in the case of a trust, distributions)
15.1	Date the dividend (distribution) is payable		N/A
15.2	+ Record date to determine entitlements to the dividend(distribution) (ie, on the basis of proper instruments of transferreceived by 5.00 pm if + securities are not + CHESS approved.or security holding balances established by 5.00 pm or suchlater time permitted by SCH Business Rules if + securities are+ CHESS approved)
$15.3 -$	If it is a final dividend, has it been declared?(Preliminary final report only)		N/A

AQUAMAX

$\mathcal{A}^{\mathcal{A}}$

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12/12/2003 17:26 61-3-9532-5244

Appendix 4E Page $10,$

Amount per security

		Amount persecurity	Frankedamount persecurity at %tax (see note41	Amount persecurity offoreign sourcedividend
15.4	(Preliminary final report only)Final dividend:Current year	¢
15.5	Previous year	Ć
15.6	(Half yearly and preliminary final reports)Interim dividend: Current year	Ć	Ć
15.7	Previous year		Ć

Total dividend (distribution) per security (interim plus final)

(Preliminary final report only)

		Current year	Previous year
15.8	+Ordinary securities	N/A	N/A
15,9	Preference +securities	N/A	N/A

Half yearly report - interim dividend (distribution) on all securities or Preliminary final report - final dividend (distribution) on all securities

		Current period $A'000	Previous correspondingperiod - $A'000
15.10	+Ordinary securities (each class separately)	N/A	N/A
15.11	Preference *securities (each class	N/A	N/A
	separately)	N/A	N/A
15.12	Other equity instruments (each classseparately)
15.13	Total	N/A	N/A

The +dividend or distribution plans shown below are in operation. $N/A$

The last date(s) for receipt of election notices for the +dividend or distribution plans

______________________________________

Any other disclosures in relation to dividends (distributions). (For half yearly reports, provide details in accordance with paragraph 7.5(d) of AASB 1029 Interim Financial Reporting)

ν,

+ See chapter 19 for defined terms.

N/A
------	$\cdots$-----.	______

Details of aggregate share of profits (losses) of associates and joint venture entities

entities':	Group's share of associates' and joint venture	Current period$A'000	Previouscorresponding period$-$ $A'000
	16.1 Profit (loss) from ordinary activities before tax	N/A	N/A
16,2	Income tax on ordinary activities
16.3	Profit (loss) from ordinary activities aftertax
16.4	Extraordinary items net of tax
16.5	Net profit (loss)
16.6	Adjustments
16.7	Share of net profit (loss) of associates andjoint venture entities

Material interests in entities which are not controlled entities

The economic entity has an interest (that is material to it) in the following entities. (If the interest was acquired or disposed of during either the current or previous corresponding period, indicate date of acquisition

Name of entity	Percentage of ownershipdate of disposal	interest held at end of period or	Contribution to net profit (loss) (item7.9)
Equity accounted17.1associates andjoint ventureentities	Currentperiod	Previouscorrespondingperiod	Current period$A'000	Previouscorrespondingperiod-$A'000

+ See chapter 19 for defined terms.

$\frac{1}{2}$

Appendix 4E Page 12

		N/A
	$\sim$
17.2 Total
17.3 Other materialinterests
17.4 Total

$\mathcal{F}^{\mathcal{F}}_{\mathbf{X}}$

$\frac{1}{2}$

$\hat{\boldsymbol{\alpha}}$

$\bar{z}$

$\bar{z}$

• See chapter 19 for defined terms.

01/01/2003

$\frac{1}{2}$

Issued and quoted securities at end of current periodDescription must include rate of interest and any redemption or conversion rights together with prices and dates)

18.1	Category of + securitiesPreference + securities(description)	Total number75,000	Number quoted75,000	Issueprice persecurity(see note14)(cents)200	Amountpaid uppersecurity(seenote $14)$$({\rm const})$200
18.2	Changes during current period(a) Increases through issues(b) Decreases through returnsof capital, buybacks,redemptions
18.3	+ Ordinary securities	8,007,479	8,007,479	50	50
18.4	Changes during current period(a) Increases through issues(b) Decreases through returnsof capital, buybacks
18.5	+ Convertible debt securities(description and conversionfactor)
18.6	Changes during current period(a) Increases through issues(b) Decreases throughsecurities matured, converted	$\overline{\text{NIL}}$	NШ
18.7	Options (description andconversion factor)	N/A		ExercisePrice	ExpiryDate(if any)
18.8	Issued during current period
18.9	Exercised during currentpenoa
18.10	Expired during current period
18.1118.12	Debentures (description)Changes during current period(a) Increases through issues(b) Decreases throughsecurities matured, converted	N/A

÷,

$\frac{1}{2}$

Appendix 4E Page 14

+ See chapter 19 for defined terms.

18.13	Unsecured notes(description)	N/A
18.14	Changes during current period(a) Increases through issues	$\cdot$
	(b) Decreases throughsecurities matured, converted

Segment reporting

(Information on the business and geographical segments of the entity must be reported for the current period in accordance with AASB 1005: Segment Reporting and for half year reports, AASB 1029: Interim Financial Reporting. Because entities employ different structures a pro forma cannot be provided. Segment information in the layout employed in the entity's +accounts should be reported separately and attached to this report.)

Comments by directors

(Comments on the following matters are required by ASX or, in relation to the half yearly report, by AASB 1029: Interim Financial Reporting. The comments do not take the place of the directors' report and statement (as required by the Corporations Act) and may be incorporated into the directors' report and statement. For both half yearly and preliminary final reports, if there are no comments in a section, state NIL. If there is insufficient space to comment, attach notes to this report.)

Basis of financial report preparation

• 19.1 If this report is a half yearly report, it is a general purpose financial report prepared in accordance with the listing rules and AASB 1029: Interim Financial Reporting. It should be read in conjunction with the last "annual report and any announcements to the market made by the entity during the period. The financial statements in this report are "condensed financial statements" as defined in AASB 1029: Interim Financial Reporting. This report does not include all the notes of the type normally included in an annual financial report. [Delete if preliminary final report.]
• 19.2 Material factors affecting the revenues and expenses of the economic entity for the current period. In a half yearly report, provide explanatory comments about any seasonal or irregular factors affecting operations.

NiL.

19.3 A description of each event since the end of the current period which has had a material effect and which is not already reported elsewhere in this Appendix or in attachments, with financial effect quantified (if possible).

÷

• See chapter 19 for defined terms.

N/A

19.4 Franking credits available and prospects for paying fully or partly franked dividends for at least the next year.

N/A

19.5 Unless disclosed below, the accounting policies, estimation methods and measurement bases used in this report are the same as those used in the last annual report. Any changes in accounting policies, estimation methods and measurement bases since the last annual report are disclosed as follows. (Disclose changes and differences in the half yearly report in accordance with AASB 1029: Interim Financial Reporting. Disclose changes in accounting policies in the preliminary final report in accordance with AASB 1001: Accounting Policies-Disclosure).

$N/A$

19.6 Revisions in estimates of amounts reported in previous interim periods. For half yearly reports the nature and amount of revisions in estimates of amounts reported in previous +annual reports if those revisions have a material effect in this half year.

$\overline{\text{N/A}}$

19.7 Changes in contingent liabilities or assets. For half yearly reports, changes in contingent liabilities and contingent assets since the last + annual report.

÷,

$N/A$

Additional disclosure for trusts

+ See chapter 19 for defined terms.

Number of units held by the management 20.1 company or responsible entity or their related parties.

20.2 A statement of the fees and commissions payable to the management company or responsible entity.

Identify:

• ٠ initial service charges
• management fees
• other fees

Annual meeting

(Preliminary final report only)

The annual meeting will be held as follows:

Place

$\frac{1}{1}$

Date

Time

Approximate date the 'annual report will be available

463-467	WARRIGAL	ROAD,
MOORABBIN
	$29$ Jan $2004$
	I-oo Am.
	22 DECEMBER 2003

subject to review.

Compliance statement

$\mathbf{1}$ This report has been prepared in accordance with AASB Standards, other AASB authoritative pronouncements and Urgent Issues Group Consensus Views or other standards acceptable to ASX (see note 12).

Identify other standards used

audited.

• $\overline{2}$ This report, and the 'accounts upon which the report is based (if separate), use the same accounting policies.
• 3 This report does (delete one) give a true and fair view of the matters disclosed (see note 2).
• 4 This report is based on +accounts to which one of the following applies. (Tick one) The taccounts have been The +accounts have been П П

۰,

+ See chapter 19 for defined terms.

ات	The $\frac{1}{2}$ accounts are in the $\Box$process of being audited or.	The + accounts have not yetbeen audited or reviewed.
	subject to review.

• 5 If the audit report or review by the auditor is not attached, details of any qualifications are attached/will follow immediately they are available* (delete one). (Half yearly report only the audit report or review by the auditor must be attached to this report if this report is to satisfy the requirements of the Corporations Act.)
• 6 The entity has/does not have* (delete one) a formally constituted audit committee.

Sign here: $Date:$ $\frac{72.72.03}{ }$ (Director/Company Secretary) RREES. Print name:

Notes

• $\mathbf{I}$ , For announcement to the market. The percentage changes referred to in this section are the percentage changes calculated by comparing the current period's figures with those for the previous corresponding period. Do not show percentage changes if the change is from profit to loss or loss to profit, but still show whether the change was up or down. If changes in accounting policies or procedures have had a material effect on reported figures, do not show either directional or percentage changes in profits. Explain the reason for the omissions in the note at the end of the announcement section. Entities are encouraged to attach notes or fuller explanations of any significant changes to any of the items in page 1. The area at the end of the announcement section can be used to provide a cross reference to any such attachment.
• $2.$ True and fair view If this report does not give a true and fair view of a matter (for example, because compliance with an Accounting Standard is required) the entity must attach a note providing additional information and explanations to give a true and fair view.

$3.$ Condensed consolidated statement of financial performance

• Item 1.1 The definition of "revenue" and an explanation of "ordinary activities" are set out in AASB 1004: Revernue, and AASB 1018: Statement of Financial Performance,
• $Item 1.6$ This item refers to the total tax attributable to the amount shown in item 1.5. Tax includes income tax and capital gains tax (if any) but excludes taxes treated as expenses from ordinary activities (eg, fringe benefits tax).

Appendix 4E Page 18

+ See chapter 19 for defined terms.

Income tax If the amount provided for income tax in this report differs (or would differ but $41$ for compensatory items) by more than 15% from the amount of income tax prima facie payable on the profit before tax, the entity must explain in a note the major items responsible for the difference and their amounts. The rate of tax applicable to the franking amount per dividend should be inserted in the heading for the column "Franked amount per security at % $\arctan$ for items 15.4 to 15.7.

Condensed consolidated statement of financial position $\overline{5}$ .

Format The format of the consolidated statement of financial position should be followed as closely as possible. However, additional items may be added if greater clarity of exposition will be achieved, provided the disclosure still meets the requirements of AASB 1029: Interim Financial Reporting, and AASB 1040. Statement of Financial Position. Also, banking institutions, trusts and financial institutions may substitute a clear liquidity ranking for the Current/Non-Current classification.

Basis of revaluation If there has been a material revaluation of non-current assets (including investments) since the last 'annual report, the entity must describe the basis of revaluation adopted. The description must meet the requirements of AASB 1010: Accounting for the Revaluation of Non-Current Assets. If the entity has adopted a procedure of regular revaluation, the basis for which has been disclosed and has not changed, no additional disclosure is required.

• Condensed consolidated statement of cash flows For definitions of "cash" and other terms б. used in this report see AASB 1026. Statement of Cash Flows. Entities should follow the form as closely as possible, but variations are permitted if the directors (in the case of a trust, the management company) believe that this presentation is inappropriate. However, the presentation adopted must meet the requirements of AASB 1026. +Mining exploration entities may use the form of cash flow statement in Appendix 5B.
• Net tangible asset backing Net tangible assets are determined by deducting from total $71$ tangible assets all claims on those assets ranking ahead of the +ordinary securities (ie, all liabilities, preference shares, outside +equity interests etc). +Mining entities are not required to state a net tangible asset backing per +ordinary security.
• Gain and loss of control over entities The gain or loss must be disclosed if it has a material 8. effect on the 'accounts. Details must include the contribution for each gain or loss that increased or decreased the entity's consolidated profit (loss) from ordinary activities and extraordinary items after tax by more than 5% compared to the previous corresponding period.
• Rounding of figures This report anticipates that the information required is given to the 9. nearest $1,000. If an entity reports exact figures, the $A'000 headings must be amended. If an entity qualifies under ASIC Class Order 98/0100 dated 10 July 1998, it may report to the nearest million dollars, or to the nearest $100,000, and the $A'000 headings must be amended.
• $10.$ Comparative figures Comparative figures are to be presented in accordance with AASB 1018 or AASB 1029 Interim Financial Reporting as appropriate and are the unadjusted figures from the latest annual or half year report as appropriate. However, if an adjustment has been made in accordance with an accounting standard or other reason or if there is a lack of comparability, a note explaining the position should be attached. For the statement of financial performance, AASB 1029 Interim Financial Reporting requires information on a year

+ See chapter 19 for defined terms.

to date basis in addition to the current interim period. Normally an Appendix 4B to which AASB 1029 Interime Financial Reporting applies would be for the half year and consequently the information in the current period is also the year to date. If an Appendix 4B Half yearly version is produced for an additional interim period (eg because of a change of reporting period), the entity must provide the year to date information and comparatives required by AASB 1029 Interim Financial Reporting. This should be in the form of a multi-column version of the consolidated statement of financial performance as an attachment to the additional Appendix 4B.

• $11.$ Additional information An entity may disclose additional information about any matter, and must do so if the information is material to an understanding of the reports. The information may be an expansion of the material contained in this report, or contained in a note attached to the report. The requirement under the listing rules for an entity to complete this report does not prevent the entity issuing reports more frequently. Additional material lodged with the +ASIC under the Corporations Act must also be given to ASX. For example, a director's report and declaration, if lodged with the +ASIC, must be given to ASX.
• Accounting Standards ASX will accept, for example, the use of International Accounting $12.$ Standards for foreign entities. If the standards used do not address a topic, the Australian standard on that topic (if one exists) must be complied with.
• Corporations Act financial statements This report may be able to be used by an entity $13.$ required to comply with the Corporations Act as part of its half-year financial statements if prepared in accordance with Australian Accounting Standards.
• Issued and quoted securities The issue price and amount paid up is not required in items $14.$ 18.1 and 18.3 for fully paid securities.
• Details of expenses AASB 1018 requires disclosure of expenses from ordinary activities 15 according to either their nature or function. For foreign entities, there are similar requirements in other accounting standards accepted by ASX. AASB ED 105 clarifies that the disclosures required by AASB 1018 must be either all according to nature or all according to function. Entities must disclose details of expenses using the layout (by nature or function) employed in their $+$ accounts.

The information in lines 1.23 to 1.27 may be provided in an attachment to Appendix 4B.

Relevant Items AASB 1018 requires the separate disclosure of specific revenues and expenses which are not extraordinary but which are of a size, nature or incidence that disclosure is relevant in explaining the financial performance of the reporting entity. The term "relevance" is defined in AASB 1018. There is an equivalent requirement in AASB 1029: Interim Financial Reporting. For foreign entities, there are similar requirements in other accounting standards accepted by ASX.

Dollars If reporting is not in AS, all references to SA must be changed to the reporting 16 currency. If reporting is not in thousands of dollars, all references to "000" must be changed to the reporting value.

$17.$ Discontinuing operations

Half yearly report

01/01/2003

+ See chapter 19 for defined terms.

All entities must provide the information required in paragraph 12 for half years beginning on or after 1 July 2001.

Preliminary final report

Entities must either provide a description of any significant activities or events relating to discontinuing operations equivalent to that required by paragraph 7.5 (g) of AASB 1029. Interim Financial Reporting, or, the details of discontinuing operations they are required to disclose in their 'accounts in accordance with AASB 1042 Discontinuing Operations.

In any case the information may be provided as an attachment to this Appendix 4B.

18. Format

$\frac{1}{1}$

This form is a Word document but an entity can re-format the document into Excel or similar applications for submission to the Companies Announcements Office in ASX.

+ See chapter 19 for defined terms.

			SCHEDULE 1.24 - DETAILS OF REVENUE AND EXPENSES
		QURRENT PERIOD
		ន្តន្ត្រី	$\frac{1}{200}$
REVENUE
	Sales Revenue	20,526	18,550
	Dividends Received	$\sim$	┯
	Interest Received	$\overline{5}$	န္က
	Rent Revenue	$\overline{3}$	$\frac{1}{294}$
	Other Revenue	841	$\overline{950}$
	Proceeds from disposal	ξł.	PS7
	Total	21.734	20.573
EXPENSES
	Cost of Goods Sold	9,949	9,563
	Overheads	5,980	4,708
	Abnormal Item	$\circ$	Ō
	Administration Exp	$\frac{4}{3}$	$\frac{8}{9}$
	Seling Exp	$\frac{3.502}{5}$	$\frac{828}{ }$
	Finance Exp	557	557
	Tual	2062	18.574

$\begin{array}{c} \hline \phantom{000000000000000000000000000000000000$

		NOTES FOR BUSINESS BEGMENTS-schedule 2.
BUSINESS
	MANUFACTURING		INVESTMENTS
	Current	Previous				TOTAL
	Year		CurrentVear	Previous
	$A'000	Year$A'000		Year		PreviousVear
			$A'000	$A'000	CurrentYear$A'000	$A'000
Operating Revenue	21,160
		19,673	551	$\frac{5}{16}$	21,710	19,834
Non operating revenue	٣Ö
		S	ω	88	$\frac{1}{2}$	740
Total Revenue	21,175
		19,725	560	84984	21,734	20574
Assets
	4,828	4,650	14,007	13,078	18.835
						17,728
Consolidate ( profit)doss from ordinary activities	$\frac{5}{9}$	$43	372	1056
					-987	$-1,999$
Abnormal items		Ó
				c
Consolidate (profit)/loss from ordinary activities	-615
		-943	-372	-1,056	-987	$-1.999$

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