| |
|
2006
Rm |
2005
Rm |
| 31. |
Associates |
 |
|
|
Cost |
103 |
106 |
| |
Share of cumulative post-acquisition
reserves |
(42) |
(46) |
| |
Cumulative foreign associates
exchange differences |
7 |
6 |
| |
Carrying value |
68 |
66 |
| |
Equity accounted carrying
value |
|
|
| |
Opening carrying value |
66 |
105 |
| |
Movement during year: |
|
|
| |
Repayment of loan |
(3) |
(3) |
| |
Share of profits of associates |
17 |
5 |
| |
Headline profit |
1 |
9 |
| |
Share of capital
gain/(losses) of associates |
14 |
(2) |
| |
Taxation |
2 |
(2) |
| |
Dividends received from associates |
(13) |
(6) |
| |
Disposal of associate |
—
|
(36) |
| |
Adjustment to deferred consideration
arising from acquisition made
in prior years |
—
|
2 |
| |
Foreign associates exchange
differences |
1 |
(1) |
| |
Closing carrying value |
68 |
66 |
| |
Directors’ valuation
of associates |
99 |
102 |
| |
The group’s proportionate
share of associate income, expenses,
assets and liabilities is shown below |
|
|
| |
Aggregate summarised
income statement of associates
(group’s share): |
|
|
| |
Income from operations |
366 |
243 |
| |
Operating expenses |
(362) |
(232) |
| |
Finance costs |
(3) |
(2) |
| |
Profit before non-trading items |
1 |
9 |
| |
Impairment charges and other
capital gains and losses |
14 |
(2) |
| |
Profit before tax |
15 |
7 |
| |
Taxation |
2 |
(2) |
| |
Profit for the year |
17 |
5 |
| |
Aggregate summarised
balance sheet of associates
(group’s share): |
|
|
| |
Non-current assets |
69 |
63 |
| |
Current assets |
102 |
73 |
| |
Total assets |
171 |
136 |
| |
Equity |
15 |
21 |
| |
Non-current liabilities |
54 |
36 |
| |
Current liabilities |
102 |
79 |
| |
Total equity and liabilities |
171 |
136 |
| |
Details of financial interests
in associates which are considered material to
the group are set out in Annexure C contained
in these financial statements.
All associates are unlisted. |
|
|
