Annual Financial Statements


Financial Statements for the year ended 31 December 2008


Segmental Analysis

Business Segment Analysis

  Revenue Operating
Profit
Total
Assets
Total
Liabilities
Capital
Employed
Capital
Expenditure
Depreciation
Rmillion              
2008              
Starch operations 2 150 240 # 1 841 585 1 257 85 92
Land and property developments 412 263 # 1 260 579 625 3 2
Sugar operations 4 544 606 6 432 676 5 721 1 487 150
   Zimbabwe dividends   35          
   Swaziland operations   44 #          
   Mozambique operations   250 #          
   SA agriculture, milling and refining   73 #          
   Downstream value added activities   204 #          
Centrally accounted and consolidation items   23 # 24 2 896 (30) 1  
  7 106 1 132 9 557 4 736 7 573 1 576 244
Capital profit on land   22          
Capital profit on insurance claim   49          
BEE equity and corporate structuring transactions   (33)   792      
Exchange rate translation gain   9          
Fair value adjustment on long-term receivable   (7)          
Consolidated total 7 106 1 172 9 557 5 528 7 573 1 576 244
2007              
Starch operations 1 679 105 # 1 658 317 1 340 76 91
Land and property developments 892 428 # 1 671 699 948 8 1
Sugar operations 3 824 360 4 260 193 3 807 671 130
   Zimbabwe dividends   53          
   Swaziland operations   35 #          
   Mozambique operations   88 #          
   SA agriculture, milling and refining   46 #          
   Downstream value added activities   138 #          
Centrally accounted and consolidation items   (55)# 38 1 932 (4)    
  6 395 838 7 627 3 141 6 091 755 222
Capital profi t on land   48          
BEE equity and corporate structuring transactions   (383)   815      
Exchange rate translation loss   (1)          
Fair value adjustment of investment in Hulamin   3 348          
Consolidated total 6 395 3 850 7 627 3 956 6 091 755 222

# Total segmental income for the year amounted to R1 097 million (2007 - R785 million).

 

GEOGRAPHICAL ANALYSIS OF REVENUE

Rmillion 2008 2007
South Africa 6 129 5 736
Rest of Africa 350 213
Asia and other 343 263
Europe 226 140
Australasia 38 24
North America 20 19
  7 106 6 395

The aggregate effect of intra-group transactions is immaterial.
Geographical location of segment assets: South Africa R6 064 million; Other countries R3 493 million
(2007 - South Africa R5 651 million; Other countries R1 976 million).
Expenditure on property, plant and equipment by geographical location of assets:
South Africa R462 million; Other countries R1 114 million (2007 - South Africa R341 million; Other countries R414 million).