| |
|
Group |
| |
(R’million) |
2020 |
2019
Restated* |
| 33 |
Analysis of loss from discontinued operations |
|
|
| |
In the current year, the loss of the held for sale VAMP business were included
in the profit for the year as set out below and comparatives restated accordingly.
Deli Foods is in the final process of closure which is expected to be concluded by
the end of February 2021 (refer note 34). On 17 August 2020, the company
announced that it has entered into two separate sale of business agreements
(SBAs) for the disposal of its VAMP business as going concerns. The two
SBAs comprise an agreement with Molare Proprietary Limited for a total cash
contribution of R100 million received on 30 September 2020. The second
comprising an agreement with Silver Blade Abattoir Proprietary Limited with an
effective date of 1 November 2020. A profit of R42,5 million (pre-tax) had resulted
from the conclusion of the first SBA. |
|
|
| |
Loss for the year from discontinued operations (attributable to owners of the company) |
|
|
| |
Revenue |
1 188,2 |
804,8 |
| |
Expenses |
(1 691,3) |
(1 368,9) |
| |
Operating loss before impairments and abnormal items |
(503,1) |
(564,1) |
| |
Impairments** |
(83,2) |
(110,8) |
| |
Abnormal items |
(9,2) |
68,0 |
| |
Operating loss after impairments and abnormal items |
(595,5) |
(606,9) |
| |
Finance costs |
(13,5) |
(30,5) |
| |
Loss before taxation |
(609,0) |
(637,4) |
| |
Taxation |
155,8 |
167,2 |
| |
Loss for the year from discontinued operations |
(453,2) |
(470,2) |
| |
Attributable to non-controlling interest |
– |
– |
| |
Attributable to owners of parent |
(453,2) |
(470,2) |
| |
Cash flows from discontinued operations |
|
|
| |
Net cash outflows from operating activities |
(150,0) |
(480,3) |
| |
Net cash inflows from investing activities |
296,4 |
910,4 |
| |
Net cash (outflow)/inflow from financing activities |
(110,7) |
16,8 |
| |
Net cash inflows |
35,7 |
446,9 |
