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Unconsolidated subsidiary –
Annexure B |
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| 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.
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% |
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| Effective holding (held via ATC) |
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71,5 |
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| Attributable Reunert group holding |
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64,3 |
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Rm |
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| Shares at cost |
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7,3 |
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| Less: Amount written off |
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(7,3); |
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| Carrying value of investment |
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– |
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30 September
20111
US$000 |
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30 June
20102
US$000 |
| Income statement |
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| Revenue |
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28 289,5 |
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12 029,2 |
| Operating profit |
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3 183,0 |
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1 099,2 |
| Net finance costs |
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(263,8) |
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(81,5) |
| Profit before taxation |
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2 919,2 |
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1 017,7 |
| Taxation charge |
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(800,0) |
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(393,9) |
| Profit after taxation |
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2 119,2 |
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623,8 |
| Other comprehensive income |
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| Gain on revaluation of property, plant and equipment |
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– |
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1 239,3 |
| Total comprehensive income |
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2 119,2 |
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1 863,1 |
| Profit attributable to Reunert shareholders (Rm) |
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– |
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– |
| 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. |
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| 2 The comparative numbers are for the twelve months ended 30 June 2010. |
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| Balance sheet |
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| ASSETS |
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| Non-current assets |
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4 411,3 |
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4 512,9 |
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4 411,3 |
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4 512,9 |
| Current assets |
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| Inventory |
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5 084,9 |
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2 481,4 |
| Accounts receivable |
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3 697,4 |
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2 616,5 |
| Cash |
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243,9 |
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117,1 |
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9 026,2 |
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5 215,0
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| Total assets |
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13 437,5 |
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9 727,9 |
| EQUITY AND LIABILITIES
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| Share capital and reserves |
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8 104,6 |
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5 921,9 |
| Non-current liabilities |
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1 012,2 |
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1 097,6 |
| Current liabilities |
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4 320,7 |
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2 708,4 |
| Total equity and liabilities |
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13 437,5 |
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9 727,9 |
| At 30 September 2011 the retained earnings amounted to US$ 2,8 million (30 June 2010: US$ 0,7 million). |
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