Operating segmental report

 
 

  Financial  
services  		 Consumer  
services  		 Construction  
and  
infrastructure  		 Telecoms,  
media and  
technology  		 30 June  
2010  
GROUP 2011   R’000   R’000   R’000   R’000   R’000  
FINANCIAL POSITION            
Assets            
Property, plant and equipment   —   1 252   —   —   1 252  
Investment in associates   —   —   —   635 385   635 385  
Non-current strategic investments   826 689   747 440   87 240   —   1 661 369  
Current other investments   —   306 944   —   48 125   355 069  
Other current assets   —   1 724   —   23 062   24 786  
Cash and cash equivalents   —   9 107   —   79 178   88 285  
Total assets   826 689   1 066 467   87 240   785 750   2 766 146  
Liabilities            
Non-current interest-bearing liabilities   —   —   —   333 078   333 078  
Deferred taxation   —   43 826   3 594   2 026   49 446  
Current non-interest-bearing liabilities   —   1 933   —   —   1 933  
Bank overdraft   —   24 366   ­—   —   24 366  
Total liabilities   —   70 125   3 594   335 104   408 823  
Net assets   826 689   996 342   83 646   450 646   2 357 323  
COMPREHENSIVE INCOME            
Revenue from discontinued operations1   —   1 886 411   —   —   1 886 411  
Loss from operations   —   (39 837)  —   —   (39 837) 
Interest income   —   10 004   —   5 478   15 482  
Interest expense   —   (3 212)  —   (36 734)  (39 946) 
Dividend income   —   57 464   14 792   —   72 256  
Fair value adjustments and net profit/(loss) from investments   142 235   (306 875)  (71 740)  6 875   (229 505) 
Share of loss from associates   —   —   —   (7 942)  (7 942) 
Net profit/(loss) before taxation and BEE costs from continuing operations   142 235   (282 456)  (56 948)  (32 323)  (229 492) 
Taxation charge   112 024   21 954   10 043   (3 771)  140 250  
Net profit/(loss) after tax and before BEE costs from continuing operations   254 259   (260 502)  (46 905)  (36 094)  (89 242) 
Less: Profit for the year from discontinued operations   —   35 704   —   —   35 704  
Profit/(loss) for the year per operating segment   254 259   (224 798)  (46 905)  (36 094)  (53 538) 
Cost of BEE costs           (15 501) 
Total comprehensive loss for the year           (69 039) 
1 Revenue was revenue received from external customers for a period of five months prior to the unbundling of Mvelaserve Limited on 6 December 2010. Inter-segment revenue for the five-month period represented 26% of total revenue.
CASH FLOWS            
Cash flow from operating activities   —   (20 879)  14 792   (27 639)  (33 726) 
Cash flow from investing activities   —   210 813   (14 792)  —   196 021  
Cash flow from financing activities   —   (604 703)  —   (5 026)  (609 729) 
Cash flow per operating segment   —   (414 769)  —   (32 665)  (447 434) 
Cash flows with shareholders            
– Dividends paid           (14 790) 
Net movement in cash and cash equivalents           (462 224) 
  
  Financial  
services  		 Consumer  
services  		 Construction  
and  
infrastructure  		 Telecoms,  
media and  
technology  		 30 June  
2010  
GROUP 2010   R’000   R’000   R’000   R’000   R’000  
FINANCIAL POSITION            
Assets            
Property, plant and equipment   —   389 492   —   —   389 492  
Goodwill and other intangible assets   —   834 554   —   —   834 554  
Strategic investments   684 454   568 771   144 189   41 250   1 438 664  
Investment in associates   —   8 267   —   665 831   674 098  
Deferred taxation   —   17 706   —   —   17 706  
Current strategic investments   —   2 626 286   —   —   2 626 286  
Other current assets   —   822 654   —   20 415   843 069  
Cash and cash equivalents   —   414 300   —   111 843   526 143  
Assets in disposal group held for sale   —   5 045   —   —   5 045  
Total assets   684 454   5 687 075   144 189   839 339   7 355 057  
Liabilities            
Non-current interest-bearing liabilities   —   655 470   —   624 065   1 279 535  
Deferred taxation   112 025   110 075   13 639   —   235 739  
Current interest-bearing liabilities   —   78 699   —   —   78 699  
Financial liability   —   36 900   —   —   36 900  
Current non-interest-bearing liabilities   —   823 663   —   6 238   829 901  
Total liabilities   112 025   1 704 807   13 639   630 303   2 460 774  
Net assets   572 429   3 982 268   130 550   209 036   4 894 283  
COMPREHENSIVE INCOME            
Revenue from discontinued operations1   —   4 199 259   —   —   4 199 259  
Profit from operations   —   3 195   —   —   3 195  
Interest income   —   11 898   —   8 572   20 470  
Interest expense   —   (12 455)  —   (55 249)  (67 704) 
Dividend income   34 215   120 500   15 299   —   170 014  
Fair value adjustments and net (loss)/profit from investments   (47 840)  526 528   (35 915)  (35 151)  407 622  
Share of loss from associates   —   (1)  —   (28 592)  (28 593) 
Net (loss)/profit before taxation and BEE costs from continuing operations   (13 625)  649 665   (20 616)  (110 420)  505 004  
Taxation charge   6 697   217 236   5 028   (2 808)  226 153  
Net (loss)/profit after tax and before BEE costs from continuing operations   (6 928)  866 901   (15 588)  (113 228)  731 157  
Less: Profit for the year from discontinued operations   —   176 510   —   —   176 510  
(Loss)/profit for the year per operating segment   (6 928)  1 043 411   (15 588)  (113 228)  907 667  
Cost of BEE costs           (16 175) 
Total comprehensive income for the year           891 492  
1 Revenue was revenue received from external customers. Inter-segment revenue represents 0,004% of total revenue.
CASH FLOWS            
Cash flow from operating activities   34 217   438 499   15 299   (31 215)  456 800  
Cash flow from investing activities   —   114 484   —   —   114 484  
Cash flow from financing activities   —   (484 685)  —   —   (484 685) 
Cash flow per operating segment   34 217   68 298   15 299   (31 215)  86 599  
Cash flows with shareholders            
– Dividends paid           (30 008) 
Net movement in cash and cash equivalents           56 591