Earnings releases


Interim Results for the half-year ended 30 June 2004


BALANCE SHEET

  

           
  Unaudited   Unaudited   Audited
  Half-year   Half-year   Year ended
  30 June   30 June   31 December
  2004   2003   2003
   Rmillion     Restated    
           
   Assets          
   Non-current assets          
   Property, plant and equipment 4 130   4 198   4 162
   Growing crops 205   219   179
   Long-term receivable 210   210   210
   Goodwill 36   39   37
   Investments 7   14   5
   Derivative instruments 20   36   11
 
 
 
  4 608   4 716   4 604
           
   Current assets 3 558   3 455   3 709
      Inventories 1 307   1 518   1 769
      Trade and other receivables 1 454   1 095   1 132
      Cash resources 797   842   808
 
 
 
   Total assets 8 166   8 171   8 313
 
 
 
   Equity and liabilities          
   Capital and reserves          
   Share capital 101   101   101
   Share premium 734   730   730
   Non-distributable reserves 55   88   29
   Retained income 3 309   3 216   3 333
 
 
 
   Equity 4 199   4 135   4 193
   Minority interests in subsidiaries 12   5   6
   Deferred tax 867   943   866
   Long-term borrowings 324   814   371
   Provisions 264   244   260
   Derivative instruments 41   156   53
   Current liabilities 2 459   1 874   2 564
      Trade and other payables (note 7) 1 305   1 222   1 551
      Short-term borrowings 1 136   643   998
      Tax 18   9   15
 
 
 
   Total equity and liabilities 8 166   8 171   8 313
 
 
 
   Number of shares (000)          
    in issue 101 590   101 461   101 467
    weighted average (basic) 101 499   101 370   101 418
    weighted average (diluted) 102 197   101 883   101 816
   Net asset value per share (cents) 4 133   4 075   4 132
   Debt to equity 34,7%   35,2%   32,6%
   Net debt to equity 15,7%   14,9%   13,4%