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Sales
Cost of sales
Gross profit
Distribution costs
Administrative expenses
Operating profit
Finance costs: Int expense
Share of results of associate
Profit before tax
Tax: Group companies
Share of associate
Profit before minority interest
Minority interest
Profit after tax
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(110)
(15)
|
3,325
(1,935)
1,390
(225)
(790)
375
(8)
50
417
(125)
292
(28)
264
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Property, plant and equip.
(Cost or Valuation)
Accumulated Depreciation
Intangible asset: Goodwill
Amortisation
Investment in associate
Current assets:
Inventories
Receivables and prepayments
Cash and cash equivalents
|
2,297
(931)
1,366
126
(30)
96
263
1,725
276
607
93
976
|
2,134
(733)
1,401
126
(17)
109
246
1,756
178
623
71
872
|
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Additional information:
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|
Current Liabilities:
Payables and accrued expenses
Current tax
Borrowings: bank overdraft
Net current assets
Capital and reserves:
Share capital
Revaluation reserve
Retained earnings
Shareholders’ funds
Minority interest
Non-current liabilities:
Borrowings: commercial paper
Deferred tax
|
615
22
8
645
331
2,056
500
260
839
1,599
240
110
107
217
2,056
|
484
16
133
645
331
1,940
500
133
725
1,413
204
200
123
323
1,940
|
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1.
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The holding company, the subsidiary and the associate had all paid dividends during the year.
A class of assets in the subsidiary had been revalued during the year. Depreciation of Sh.20 million had been written back on the revaluation. The transfer to the revaluation surplus account in the subsidiary was Sh.120 million. The minority interest owns 40% of the share capital of the subsidiary.
Property, plant and equipment which had cost Sh.100 million and on which accumulated depreciation stood at Sh.47 million at 30 April 2002 was sold for Sh.70 million in the year.
The group classifies interest paid as an operating cash flow, there were no accruals at the beginning or at the end of the year in respect of this item. It classifies dividends received as an investing activity and any dividends paid as an investing activity. The bank overdraft is classified as a component of each and cash equivalent.
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