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.