Unconsolidated subsidiary –
Annexure B

 
 
Cafca

The financial statements of Cafca, a company incorporated in Zimbabwe, have not been consolidated in the group financial statements as the directors believe there is a lack of control as defined in IAS 27 Consolidated and Separate Financial Statements and the amounts involved are not material to the group.

  
         
    %       
Effective holding (held via ATC)    71,5       
Attributable Reunert group holding     64,3       
    Rm       
Shares at cost     7,3       
Less: Amount written off   (7,3);      
Carrying value of investment     –       

              
    30 September  
20111
US$000  
   30 June  
20102
US$000  
Income statement           
Revenue     28 289,5     12 029,2  
Operating profit     3 183,0     1 099,2  
Net finance costs     (263,8)    (81,5) 
Profit before taxation   2 919,2     1 017,7  
Taxation charge   (800,0)    (393,9) 
Profit after taxation   2 119,2     623,8  
Other comprehensive income         
Gain on revaluation of property, plant and equipment   –     1 239,3  
Total comprehensive income   2 119,2     1 863,1  
Profit attributable to Reunert shareholders (Rm)   –     –  
1 The 2011 numbers are for a 15 month period as the company changed its financial year end to 30 September during the current year.         
2 The comparative numbers are for the twelve months ended 30 June 2010.         
         
Balance sheet           
ASSETS           
Non-current assets   4 411,3     4 512,9  
    4 411,3     4 512,9  
Current assets           
Inventory     5 084,9     2 481,4  
Accounts receivable   3 697,4     2 616,5  
Cash     243,9     117,1  
    9 026,2     5 215,0   
Total assets      13 437,5     9 727,9   
EQUITY AND LIABILITIES            
Share capital and reserves     8 104,6     5 921,9  
Non-current liabilities     1 012,2     1 097,6  
Current liabilities     4 320,7     2 708,4  
Total equity and liabilities   13 437,5     9 727,9  
At 30 September 2011 the retained earnings amounted to US$ 2,8 million (30 June 2010: US$ 0,7 million).