A N N U A L   R E P O R T   –   2 0 0 1 
Letter to the shareholders Income statements
Financial highlights Balance sheets
Chief executive’s report Cash flow statements
Five-year financial review Segmental analysis

F I V E – Y E A R    R E V I E W          
   
2001   

2000*  

1999   
1998   
1997   
   
Rm   
Rm   
Rm   
Rm   
Rm   
 
  ASSETS          
  Property, plant and equipment
185,2   
175,3   
236,5   
354,6   
395,4   
  Goodwill
10,9   
  Investments 188,4    176,4    135,4    160,9    159,5   
  RC&C Finance Company          
  accounts receivable 745,1    751,6         
  Deferred taxation assets 42,0    22,6    29,2       
  Cash and cash equivalents 303,5    222,8    958,0    496,9    118,0   
  Other current assets 1 092,4    945,0    1 260,3    1 493,7    1 702,4   
 
  Total assets 2 567,5    2 293,7    2 619,4    2 506,1    2 375,3   
 
  EQUITY AND LIABILITIES          
  Ordinary and preference          
  shareholders 759,9    810,7    674,4    938,7    808,5   
  Outside shareholders 122,0    99,2    217,8    254,7    255,6   
 
  Interest of all shareholders 881,9    909,9    892,2    1 193,4    1 064,1   
  Deferred taxation liabilities 48,6    31,3    5,8    5,7    7,6   
  Long-term borrowings 2,7    4,1    4,5    5,2    5,6   
  RC&C Finance Company          
  short-term borrowings 324,0    147,2         
  Current liabilities 1 310,3    1 201,2    1 716,9    1 301,8    1 298,0   
 
  Total equity and liabilities 2 567,5    2 293,7    2 619,4    2 506,1    2 375,3   
 
  RESULTS          
  Revenue 4 229,8    3 340,1    4 565,5    4 919,5    5 162,9   
 
  Operating profit 381,5    275,5    296,6    234,1    235,9   
  Net interest and dividend income 59,1    58,8    95,7    35,5    (20,4)  
 
  Profit before abnormal items 440,6    334,3    392,3    269,6    215,5   
  Abnormal items –    77,4    88,6    –    (125,9)  
 
  Profit before taxation 440,6    411,7    480,9    269,6    89,6   
  Taxation 145,6    114,0    147,6    98,8    62,5   
 
  Profit after taxation 295,0    297,7    333,3    170,8    27,1   
  Share of associate companies' profit 81,8    73,8    79,5    100,2    52,7   
 
  Profit after taxation          
  including associate companies 376,8    371,5    412,8    271,0    79,8   
  Interest of outside shareholders 42,4    4,3    53,6    60,6    8,4   
 
  Headline earnings attributable to          
  shareholders of Reunert Limited 337,4    286,5    274,2    211,1    131,9   
  Earnings attributable to          
  shareholders of Reunert Limited 334,4    367,2    359,2    210,4    71,4   
  Headline earnings per share (cents) 176,0    140,7    136,8    105,6    66,5   
  Pro forma headline earnings          
  per share (cents) 176,0    140,7    107,7**    
  Basic earnings per share (cents) 174,4    180,3    179,2    105,2    36,0   
 
  CONSOLIDATED CASH FLOW STATEMENTS    
  Net cash inflow from operating          
  activities 197,6    360,4    373,5    474,0    124,7   
  Investments net of disposals to          
  maintain operating capacity (9,8)   (33,2)   28,5    (35,3)   15,9   
 
  Cash available for investments to          
  increase operating capacity 187,8    327,2    402,0    438,7    140,6   
  Investments to (decrease)/increase          
  operating capacity (net) (75,9)   83,0    49,6    (17,4)   (106,2)  
 
  Net cash internally generated 111,9  410,2    451,6    421,3    34,4   
 

.

*   The 2000 information has been restated to consolidate RC&C Finance Company. RC&C Finance     Company, which was previously equity accounted, has been consolidated with effect from 1 October     2000.

** The ordinary shareholders of Reunert Limited received a special dividend of R510 million (R2,50 per     share) on 29 October 1999. This payment had a major distorting effect on the comparability of the     results of 2000 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 for 1999 of R274,2 million by R58,3 million.



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