Audited Results & Final Dividend Declaration for the year ended 31 December 2006
NOTES
Rmillion
2006
2005
1.
Operating profit
Operating profit includes results of operations, Triangle dividends, restructure
costs, valuation adjustments and exceptional items.
2.
Net financing costs
Interest paid
(149)
(131)
Financial instrument income
104
33
Interest received
22
38
(23)
(60)
3.
Tax
Normal
(88)
(51)
Deferred
(118)
(113)
Rate change adjustment (deferred)
28
Secondary tax on companies
(63)
(26)
(269)
(162)
4.
Capital expenditure commitments
Contracted
169
112
Approved but not contracted
640
187
809
299
5.
Operating lease commitments
45
39
6.
Guarantees and contingent liabilities
79
44
7.
Trade and other payables
Included in trade and other payables is the maize obligation (interest bearing) of R130 million (2005: R110 million).
8.
Audited results
The Group financial statements for the year ended 31 December 2006 have been audited by Deloitte & Touche. Their unqualified audit opinion is available for inspection at the registered office of the company.
9.
Basis of preparation
The audited Group financial statements for the year ended 31 December 2006 have been prepared in accordance with the Group’s accounting policies which fully comply with International Financial Reporting Standards and are consistent with those applied in the previous year. The Group continues to account for its Zimbabwean operations, including Triangle Sugar, on a dividend received basis.