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Content
Highlights Accounting policies
Letter to shareholders Income statements
Board and governance structure Balance sheets
Group overview Cash flow statements
Building and developing people Notes to the cash flow statements
Corporate governance Statement of changes in equity
Value added statement Notes to the annual financial statements
Segmental analysis Principal subsidiaries
Five-year financial review Share ownership analysis
Summary of statistics Shareholders' diary
Definitions Corporate administration and information
Directors' responsibility Notice of annual general meeting
Report of the independent auditors Currency conversion table
Secretaries' certification Proxy form
Statutory information  

BALANCE SHEETS
At 30 September 2003

GROUP

COMPANY

2003 2002 2003 2002
Notes Rm Rm Rm Rm

ASSETS
NON-CURRENT ASSETS
Property, plant and equipment 11 213,7 157,1 66,2 63,4
Goodwill 12 306,9 360,0 20,1 21,5
Interest in subsidiaries 13 684,2 304,5
Interest in associates 14 131,1 158,2

163,6

Other investments 15 20,8 20,5 20,5 20,2
RC&C Finance Company accounts receivable 16 1 220,0 953,9  
Deferred taxation assets 17 33,1 25,9 23,6 24,7

1 794,5 1 648,5 973,1 597,9
CURRENT ASSETS
Derivative assets 0,1 0,9
Inventory and contracts in progress 18 531,8 659,8 351,4 481,4
Accounts receivable 19 826,6 712,9 266,2 231,2
Cash and cash equivalents 20 484,8 283,5 37,7 80,1

1 843,3 1 656,2 656,2 792,7

TOTAL ASSETS 3 637,8 3 304,7 1 629,3 1 390,6

EQUITY AND LIABILITIES
CAPITAL AND RESERVES
Share capital and premium 21 48,8 37,8 283,4 272,4
Non-distributable reserves 22 2,9 68,1 0,3 0,3
Accumulated profit 1 104,8 965,2 758,4 555,6

1 156,5 1 071,1 1 042,1 828,3
INTEREST OF OUTSIDE SHAREHOLDERS IN SUBSIDIARIES 121,2
103,5
NON-CURRENT LIABILITIES
Deferred taxation liabilities 17 63,8 45,9
CURRENT LIABILITIES
Derivative liabilities 49,6 27,3
Short-term loans and bank overdrafts 3,4 2,8 1,7
RC&C Finance Company short-term borrowings 900,7 838,0
Provisions 23 105,5 114,1 8,2 19,6
Trade and other payables 1 141,7 1 063,9 525,0 509,1
Taxation 95,4 65,4 25,0 33,6

2 296,3 2 084,2 587,2 562,3

TOTAL EQUITY AND LIABILITIES 3 637,8 3 304,7 1 629,3 1 390,6


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Copyright - Reunert - 2003