| |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS CONTINUED |
| for the year ended 30 June 2007 |
| |
All monetary amounts are expressed
in millions of Rands |
2007 |
Restated
2006 |
| 26. |
EARNINGS FOR THE YEAR (continued) |
|
|
|
Net foreign exchange gains |
2,0 |
6,9 |
|
Net fair value losses of financial instruments |
3,7 |
23,4 |
|
Operating lease costs: |
|
|
|
Immovable property |
32,2 |
22,0 |
|
Plant and machinery |
0,8 |
0,2 |
| |
Other |
8,0 |
10,4 |
|
Operating lease costs: continuing operations |
41,0 |
32,6 |
| |
Operating lease costs: discontinued operations (note 29) |
0,7 |
0,8 |
|
|
41,7 |
33,4 |
| |
Research and development costs |
3,7 |
2,4 |
|
Items by function* |
|
|
|
Cost of sales** |
15 110,7 |
9 344,3 |
|
Distribution and marketing costs |
275,0 |
177,1 |
|
Administration costs |
1 388,9 |
1 098,8 |
| |
Other operating income |
338,2 |
242,4 |
|
| * |
Excluding discontinued items |
| ** |
Cost of sales include R3 895,1 million (2006: R2 640,1 million) relating to the cost of inventories sold during the year. |
|
|
|
| 27. |
NET INTEREST (EXPENSE)/INCOME |
|
|
| 27.1 |
Interest expense |
|
|
|
Bank overdrafts |
(42,4) |
(26,4) |
|
Capitalised finance leases |
(20,6) |
(5,8) |
|
Present value expense |
(11,0) |
(14,0) |
|
Loans and other liabilities |
(36,8) |
(15,9) |
| |
|
(110,8) |
(62,1) |
| 27.2 |
Interest income |
|
|
|
Bank balances and cash |
105,4 |
70,7 |
|
Present value income |
8,7 |
10,8 |
|
Unlisted loan investments and other receivables |
18,1 |
15,7 |
| |
|
132,2 |
97,2 |
| |
|
21,4 |
35,1 |
| 28. |
INCOME TAXATION EXPENSE |
|
|
|
South African taxation |
|
|
|
Normal tax – current year |
236,0 |
74,3 |
|
Normal tax – prior year |
18,9 |
(3,3) |
|
Secondary taxation on companies |
34,0 |
20,2 |
|
Deferred taxation |
3,6 |
37,8 |
|
Foreign taxation |
|
|
|
Current year |
62,6 |
45,4 |
|
Deferred taxation |
10,8 |
0,7 |
|
Prior year |
(5,6) |
– |
| |
|
360,3 |
175,1 |
| |
South African income tax is calculated at 29% (2006: 29%) of the estimated assessable profit for the year. Taxation in other
jurisdictions is calculated at rates prevailing in the relevant jurisdictions. |
|
| |
| |
|
|
