A N N U A L    R E P O R T     2 0 0 0

 


 
F I V E - Y E A R   F I N A N C I A L   R E V I E W  
 
2000  
1999*
1998 
1997 
1996 
 
R million  
R million 
R million 
R million 
R million 

Assets        
Fixed assets
174,7  
236,5 
354,6 
395,4 
442,8 
Investments
189,4  
135,4 
160,9 
159,5 
144,1 
Deferred taxation assets
22,6  
29,2 
Cash and cash equivalents
706,2  
958,0 
496,9 
118,0 
147,1 
Other current assets
964,9  
1 260,3 
1 493,7 
1 702,4 
1 798,3 

Total assets
2 057,8  
2 619,4 
2 506,1 
2 375,3 
2 532,3 

Equity and liabilities        
Ordinary and preference        
shareholders
810,7  
674,4 
938,7 
808,5 
849,7 
Outside shareholders
99,2  
217,8 
254,7 
255,6 
254,1 

Interest of all shareholders
909,9  
892,2 
1 193,4 
1 064,1 
1 103,8 
Deferred taxation liabilities
4,5  
5,8 
5,7 
7,6 
10,0 
Long-term borrowings
4,1  
4,5 
5,2 
5,6 
14,9 
Current liabilities
1 139,3  
1 716,9 
1 301,8 
1 298,0 
1 403,6 

Total equity and liabilities
2 057,8  
2 619,4 
2 506,1 
2 375,3 
2 532,3 

Results
Revenue
3 184,1  
4 565,5 
4 919,5 
5 162,9 
4 914,9 

Operating profit
244,6  
296,6 
234,1 
235,9 
287,6 
Net interest and dividend income
58,8  
95,7 
35,5 
(20,4)
(23,1)

Profit before abnormal items
303,4  
392,3 
269,6 
215,5 
264,5 
Abnormal items
77,4  
88,6 
– 
(125,9)
(3,5)

Profit before taxation
380,8  
480,9 
269,6 
89,6 
261,0 
Taxation
102,3  
147,6 
98,8 
62,5 
73,7 
 
Profit after taxation
278,5  
333,3 
170,8 
27,1 
187,3 
Share of associate companies'
profits
93,0  
79,5 
100,2 
52,7 
32,6 

Profit after taxation
including associate companies
371,5  
412,8 
271,0 
79,8 
219,9 
Interest of outside shareholders
4,3  
53,6 
60,6 
8,4 
16,9 

Headline earnings attributable to
shareholders of Reunert Limited
286,5  
274,2 
211,1 
131,9 
197,9 
Earnings attributable to
shareholders of Reunert Limited
367,2  
359,2 
210,4 
71,4 
203,0 
Headline earnings per
share (cents)
140,7  
136,8 
105,6 
66,5 
101,1 
Pro forma headline earnings
per share (cents)
140,7  
107,7*
Earnings per share (cents)
180,3  
179,2 
105,2 
36,0 
103,7 

* The 1999 information has been restated to take account of the changes in accounting policies as further described in the notes to the income statement and balance sheet.

Consolidated cash flow statements
Net cash inflow from
operating activities
272,1**
373,5 
474,0 
124,7 
97,9 
Investments net of disposals to
maintain operating capacity
(32,8) 
28,5 
(35,3)
15,9 
(52,2)

Cash available for investments
to increase operating capacity
239,3  
402,0 
438,7 
140,6 
45,7 
Investments to increase
operating capacity (net)
83,0  
49,6 
(17,4)
(106,2)
(22,9)

Net cash internally generated
322,3  
451,6 
421,3 
34,4 
22,8 

*   The ordinary shareholders of Reunert Limited received a special dividend of R510 million (R2,50 per     share)   on 29 October 1999. This payment has had a major distorting effect on the comparability of the     results of   the current and prior years. Had this dividend been paid on 29 October 1998, the after-tax     effect, calculated      using an average interest rate of 16%, would have been to reduce headline earnings     of R274,2 million by      R58,3 million.
 
** The special dividend of R510 million and the related STC of R58,2 million paid in the current year have     been excluded from cash flows from operating activities and have been included in cash flows from     financing activities.



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Copyright - Reunert - 2003