Earnings releases


Interim Results for the half-year ended 30 June 2005


BALANCE SHEET

  

Unaudited  Unaudited  Audited
Half-year  Half-year  Year ended
30 June  30 June  31 December
2005  2004  2004
 Restated  Restated
Rmillion for IFRS  for IFRS
Assets      
Non-current assets      
Property, plant and equipment4 072  4 130   4 115
Growing crops223  205   185
Long-term receivable210  210   210
Goodwill21  21   23
Derivative instruments8  20   36
Investments61  7   23



4 595 4 593 4 592
Current assets3 361  3 559   3 560
   Inventories1 230   1 307   1 649
   Trade and other receivables 1 414  1 455   1 108
   Cash and cash equivalents717   797   803



Total assets7 956  8 152   8 152



Equity and liabilities      
Capital and reserves      
Share capital103  101   102
Share premium789  734   759
Non-distributable reserves18  38   60
Retained income3 520  3 312   3 426
Equity holders' interest4 430  4 185   4 347
Minority interests in subsidiaries65  12   71
Equity4 495  4 197   4 418
Deferred tax862  867   854
Long-term borrowings244  324   255
Provisions279  264   271
Derivative instruments28  41   52
Current liabilities2 048  2 459   2 302
   Trade and other payables (note 8)1 030  1 305   1 171
   Short-term borrowings988  1 136   1 125
   Tax30 18 6



Total equity and liabilities7 956  8 152   8 152



Number of shares (000)      
- in issue102 920  101 590   102 248
- weighted average (basic)102 674  101 499   101 718
- weighted average (diluted)104 889  102 197   102 791
Debt to equity27,4%  34,8%   31,2%
Net debt to equity11,5%  15,8%   13,1%