Earnings releases


Audited Results & Final Dividend Declaration for the year ended 31 December 2004


BALANCE SHEET


Rmillion20042003

Assets
Non-current assets
Property, plant and equipment4 1154 162
Growing crops185179
Long-term receivable210210
Goodwill3537
Investments235
Derivative instruments3611


4 6044 604
Current assets3 5583 709
Inventories1 649 1 769
Trade and other receivables1 1061 132
Cash and cash equivalents803 808


Total assets8 1628 313


Equity and liabilities
Capital and reserves
Share capital102101
Share premium759730
Non-distributable reserves6929
Retained income3 4273 333


Equity4 3574 193
Minority interests in subsidiaries716
Deferred tax854866
Long-term borrowings255371
Provisions271260
Derivative instruments5253
Current liabilities2 3022 564
Trade and other payables (note 8)1 171 1 551
Short-term borrowings1 125998
Tax6 15


Total equity and liabilities8 1628 313


Number of shares (000)
- in issue102 248101 467
- weighted average (basic)101 718101 418
- weighted average (diluted)102 791101 816
Net asset value per share (cents)4 2614 132
Debt to equity31,7%32,6%
Net debt to equity13,2%13,4%