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Abridged Unaudited Consolidated Financial Statements For The Three Months Ended 31 May 2018
GO LIFE INTERNATIONAL LIMITED
(Incorporated in the Republic of Mauritius)
(Registration number: 098177 C1/GBL)
Primary Listing SEM share code: GOLI.N0000
Secondary Listing JSE share code: GLI ISIN: MU0330N00004
(“the Company” or “Go Life”)
Abridged Unaudited Consolidated Financial Statements For The Three Months Ended 31 May 2018
DIRECTORS’ COMMENTARY
BACKGROUND
The Company was incorporated on 1 October 2010 as a public company limited by shares under the
Mauritian Companies Act and holds a Category 1 Global Business License (License No - C110009034)
issued by the Mauritius Financial Services Commission.
Go Life International is registered in the Republic of Mauritius and was listed on the SEM on
07 July 2011. The Company successfully completed a secondary listing on the Alternative Exchange
(“AltX”) of the Johannesburg Stock Exchange (”JSE”) on 23 November 2016.
PRIMARY OBJECTIVE
Go Life International was established to leverage the strength of existing South African nutraceutical
companies, Go Life Health Products and Gotha Health Products (collectively Go Life SA), and to drive
the presence of the South African products and brands across the global nutraceutical market.
The current focus of the company is to participate in the medical industry through a holistic approach
achieved by focusing on health care with an emphasis on complementary and alternative medicine and
practices without discounting the role of conventional pharmaceutical products. To maximize stakeholder
returns, Go Life’s strategy is based on planning and executing its growth through participation in the
full spectrum of health care as opposed to limiting activities to individual market sub sectors.
RESULTS COMMENTARY
The Company has shown high growth in revenue for the three months ended 31 May 2018 (“Q1) being 66.3%
higher than the revenue of the previous comparable quarter. This is attributed to various new sales
channels and management has taken the initiative to expand into the rest of South Africa (historically
Eastern Cape) by introducing Go Life Health Hubs to major retail centres across South Africa.
This expansion and marketing strategy has led to higher operating costs, with an increase from the prior
period of around 107%, which led to a reduction in operating margin from 43.7% in the prior period to
29.8% for Q1 of the current year. However, these efforts are expected to deliver long term benefits for
the group.
The profit from operations increased by 13.6% for Q1 to USD170 752 from USD150 207.
Income from associates increased by 4% and is derived from the associate interest in Bon Health frail
care operations.
Finance costs arose primarily from the interest on shareholder and other loans and increased by 19.3%
due to third party funding being secured to settle the vendor obligations owing for the Gotha acquisition,
which amount was non-interest bearing.
Profit before and after taxation increased by 5.4% in Q1 compared to Q1 for the quarter ended 31 May
2017.
COMPANY OUTLOOK
The company is in the process of inaugurating its alternative and complimentary products to all regions
of South Africa. Initially the sales were regionally focussed in the Eastern Cape Province. Through
extending its product offering to more populous areas, the company expects a significant escalation in
sales.
In addition to expanding its retail capacity, the company intends offering its products and services by
targeting health hubs (own brand), community clinics, pharmacies and hospitals. The rationale underlying
this approach is not to become the owner of brick and mortar, but rather to partner with investors and
prominent role players in those sectors.
To further enhance its offerings, the company is pursuing a strategy aimed at acquiring businesses or,
where merited, securing relationships with strategy aligned entities. By implementing this strategy,
the company aims to not only expand its product range and service offerings and where merited, retaining
the expertise and knowledge of the founder members of those businesses (acquired entities), by absorbing
them into its structures.
Pursuant to the Go Life drive into medical technology that would physically aid the curing of dread
diseases, stem cell technology is high on our priority list. To this end, various options are being
evaluated to ensure Go Life’s participation on this ground-breaking technology.
On 3 May 2018, Caligraph Proprietary Limited, a South African Broad-Based Black Economic Empowered
(“BBBEE”) company acquired 26% of GLI’s shares. Caligraph intends to work with Go Life management
to provide Go Life Health Products with the appropriate BBBEE credentials. To enhance a future strategy,
in pursuing organic and acquisitive growth and extension of the value chain, both up-stream through the
acquisition of pharmaceutical registrations and down-stream through acquisitions or the creation of start-
up value-adding pharmaceutical businesses.
DIVIDENDS
No dividends were authorized or paid during the period under review.
By order of the Board
FinAgeis Ltd
Company Secretary
1 August 2018
STATEMENT OF FINANCIAL POSITION
THE GROUP THE GROUP THE GROUP
31 May 2018 31 May 2017 28 Feb 2018
USD USD USD
ASSETS
Non - Current Assets 37 553 896 29 991 071 37 394 804
Investments in Associates 849 095 849 095 849 095
Intangible Assets 29 026 143 22 312 860 29 026 143
Property Plant and Machinery 7 678 658 6 829 116 7 519 566
Current Assets 1 070 014 640 154 856 012
Inventories 136 789 - 96 830
Trade and other Receivables 231 567 278 450 172 698
Cash and Cash Equivalents 701 658 361 704 572 724
Income taxes - - 13 760
TOTAL ASSETS 38 623 910 30 631 225 38 250 816
EQUITY
Capital and Reserves 34 594 621 28 361 947 34 478 762
Share Capital 34 965 300 33 765 570 34 965 300
Accumulated Deficit (370 679) (8 008 455) (486 538)
Non-Distributable Reserves - 2 376 875 -
Foreign Currency Translation Reserve - 227 958 -
LIABILITIES
Non - Current Liabilities 3 692 521 2 212 436 3 424 784
Loan - Shareholders 3 567 550 2 212 436 3 424 784
Loan – third party 124 971 - -
Current Liabilities 336 768 56 842 347 269
Trade and other Payables 336 768 56 842 241 299
Income Tax - - 105 970
TOTAL EQUITY AND LIABILITIES 38 623 910 30 631 225 38 250 816
STATEMENT OF PROFIT / LOSS AND OTHER COMPREHENSIVE INCOME
THE GROUP THE GROUP THE GROUP
31 May 2018 31 May 2017 28 Feb 2018
USD USD USD
Revenue 572 287 343 730 1 819 213
Expenses (401 535) (193 523) (1 015 261)
PROFIT FROM OPERATIONS 170 752 150 207 803 952
Share of profits - Associates 29 363 28 235 190 565
Finance Income 508 2 565 -
Finance costs (84 764) (71 064) (313 103)
PROFIT BEFORE TAXATION 115 859 109 944 681 414
Taxation - - (105 970)
NET PROFIT AFTER TAXATION 115 859 109 944 575 445
Other Comprehensive income - - -
TOTAL COMPREHENSIVE INCOME FOR THE PERIOD 115 859 109 944 575 445
RECONCILIATION OF BASIC EARNINGS TO HEADLINE EARNINGS
THE GROUP THE GROUP THE GROUP
31 May 2018 31 May 2017 28 Feb 2018
USD USD USD
Basic earnings 115 859 272 666 575 445
Headline earnings 115 859 272 666 575 445
Weighted average number of shares 900 000 000 900 000 000 900 000 000
Basic and diluted earnings per share (USD cents) 0.0128 0.0303 0.0639
Headline earnings per share (USD cents) 0.0128 0.0303 0.0639
STATEMENT OF CASH FLOWS
THE GROUP THE GROUP THE GROUP
31 May 2018 31 May 2017 28 Feb 2018
USD USD USD
Net Cash from / (used in) other
operating activities 51 689 (24 595) 187 623
Investing activities
Property, plant and equipment 2 879 2 377 2 303
Movement in net cash resources 54 568 (22 218) 189 926
Balance at the start of the year 572 724 383 922 382 798
Balance at the end of the year 627 292 361 704 572 724
SEGMENTAL REPORTING – 3 MONTHS ENDED 31 MAY 2018
Nutraceutical Property Frail care
Associate Total
USD USD USD USD
Statement of net profit/loss
Revenue 345 067 197 857 29 363 572 287
Interest expenses - (84 764) - (84 764)
Income Tax - - - -
Net profit/(loss) for the period (26 597) 113 093 29 363 115 859
Statement of financial position
Total Assets 29 882 155 7 519 566 849 095 38 250 816
Total Borrowings 1 212 348 2 212 436 - 3 424 784
SEGMENTAL REPORTING – 3 MONTHS ENDED 31 MAY 2017
Nutraceutical Property Frail care
Associate Total
USD USD USD USD
Statement of net profit/loss
Revenue 217 801 97 694 28 235 343 730
Interest expenses - (71 064) - (71 064)
Income Tax - - - -
Net profit/(loss) for the period 217 801 26 630 28 235 272 666
Statement of financial
position
Total Assets 22 822 587 6 959 543 849 095 30 631 225
Total Borrowings 2 212 436 - - 2 212 436
SEGMENTAL REPORTING – 12 MONTHS ENDED 28 FEB 2018
Nutraceutical Property Frail care
Associate Total
USD USD USD USD
Statement of net profit/loss
Revenue 887 097 741 551 190 565 1 819 213
Interest expenses - (71 064) - (71 064)
Income Tax - (105 970) - (105 970)
Net profit/(loss) for the period (179 637) 564 517 190 565 575 445
Statement of financial position
Total Assets 29 882 155 7 519 566 849 095 38 250 816
Total Borrowings - (3 424 784) - (3 424 784)
STATEMENT OF CHANGES IN EQUITY
Share Revenue Total
USD USD USD
THE GROUP
Balance as at 28 February 2018 34 965 300 (486 536) 34 478 764
Total Comprehensive Income for the period 115 859 115 859
Consolidation adjustments
Balance as at 31 May 2018
34 965 300 (370 677) 34 594 623
Notes
The Company is required to publish financial results for the 3 months ended 31 May 2018 in terms of the Listing
Rule 12.19 of the SEM. The abridged unaudited consolidated financial statements for the 3 months ended 31 May
2018 (“financial statements”) have been prepared in accordance with the measurement and recognition requirements
of IFRS, the requirements of IAS 34: Interim Financial Reporting and the SEM Listing Rules and the JSE Listing
requirements.
The accounting policies adopted in the preparation of the financial statements are consistent with those applied
in the preparation of the audited financial statements of the year ended 28 February 2018.
Copies of the Abridged Unaudited Consolidated Financial Statements for the 3 Months Ended 31 May 2018 and the
Statement of direct and indirect interests of each officer of the Company, pursuant to Rule 8(2)(m) of the
Securities (Disclosure Obligations of Reporting Issuers) Rules 2007, are available free of charge, upon request
to the Company Secretary at the Registered Office of the Company at 5th Floor, Atchia Building, Cnr Suffren &
Eugene Laurent Streets, Port Louis 21001, Mauritius.
This communiqué is issued pursuant to SEM Listing Rules 11.3 and 12.20 and section 88 of the Securities Act of
Mauritius 2005. The Board accepts full responsibility for the accuracy of the information contained in these
financial statements. The Directors are not aware of any matters or circumstances arising subsequent to the
period ended 31 May 2018 that require any additional disclosure or adjustment to the financial statement.
For further information please contact:
FinAegis Ltd
(230) 214-2663
Executive Directors: Non-Executive Directors:
Gerhard Jacobus Naudè Mohamed Yusuf Sooklall
Marthinus Johannes Wolmarans Jean Daniel Laurent Paulin Marie
JSE Sponsor: Company Secretary:
Arbor Capital Sponsors (PTY) Ltd FinAegis Ltd
Date: 01/08/2018 08:35:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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