| |
| 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 |
| 29. |
DISCONTINUED OPERATIONS AND ASSETS CLASSIFIED AS HELD-FOR-SALE (continued) |
|
|
|
| 29.1 |
Earnings for the year from discontinued operations (continued)
Profit after taxation for the period is analysed as follows: |
|
|
|
|
Revenue |
|
|
|
| |
Sale of goods |
|
715,0 |
868,4 |
|
EBIT1 |
|
26,0 |
81,5 |
|
Exceptional items |
|
– |
(6,6) |
|
Interest income |
|
1,2 |
1,0 |
| |
Interest expense |
|
(10,7) |
(15,5) |
|
Profit before taxation |
|
16,5 |
60,4 |
|
Taxation |
|
(4,0) |
(17,6) |
| |
Attributable profit |
|
12,5 |
42,8 |
|
1EBIT comprises: |
|
|
|
|
Auditors’ remuneration: |
|
|
|
|
Fees for audits |
|
1,4 |
1,1 |
|
Depreciation: |
|
|
|
|
Plant and machinery |
|
38,8 |
37,9 |
| |
Other property, plant and equipment |
|
2,9 |
3,1 |
|
Employee benefit expense |
|
|
|
|
Salaries and wages |
|
125,0 |
158,0 |
|
Impairment charges |
|
|
|
|
Trade receivables |
|
– |
0,7 |
|
Loss on disposal of property, plant and equipment |
|
1,0 |
– |
|
Net foreign exchange losses |
|
2,0 |
2,2 |
|
Operating lease costs: |
|
|
|
| |
Other property, plant and equipment |
|
0,7 |
0,8 |
|
Cost of sales* |
|
648,3 |
718,4 |
|
Distribution and marketing costs |
|
1,5 |
2,8 |
|
Administration costs |
|
42,0 |
75,2 |
| |
Other operating income |
|
2,8 |
9,5 |
|
| * |
Cost of sales include R648,3 million (2006: R718,3 million ) relating to the cost of inventories sold during the year. |
|
|
|
|
| 29.2 |
Assets classified as held-for-sale |
|
|
|
|
The Group is in advanced stages of selling properties on the open market.
The disposals are expected to occur within 12 months and the properties
have therefore been classified as asset held-for-sale. The proceeds of the
disposals are expected to exceed the net carrying amount of the assets and
accordingly no impairment loss has been recognised on the classification of
these asset as
held-for-sale. |
|
|
|
|
The major classes of assets comprising the assets held-for-sale are as follows: |
|
|
|
|
Property, plant and equipment – land and buildings |
|
8,0 |
2,6 |
|
Loans and receivables (note 6.3) |
|
15,1 |
– |
|
Investment property |
|
– |
8,6 |
| |
|
|
23,1 |
11,2 |
|
| |
| |
|
|
