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Tiger Brands Limited

Annual Financial Statements

Annual financial statements

Income statements

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FOR THE YEAR ENDED 30 SEPTEMBER 2022

COMPANY       GROUP
2022 2021   (R’million) Notes 2022 2021
      CONTINUING OPERATIONS      
4 132,5 1 821,6   Total revenue 2  34 028,9  30 953,9
4 132,5 1 821,6   Revenue   34 030,6 31 208,8
      Impact of product recall 3.1 (1,7) (254,9)
      Total cost of sales (23 713,1) (22 143,7)
      Cost of sales (23 708,2) (21 750,2)
      Impact of product recall 3.1 (4,9) (308,3)
      Impact of civil unrest 3.2 (85,2)
4 132,5 1 821,6   Gross profit   10 315,8 8 810,2
      Sales and distribution expenses   (4 350,3) (4 047,8)
      Marketing expenses   (906,9) (905,5)
(22,0) (49,8)   Other operating expenses   (1 834,2) (1 673,1)
4,0   Sundry income 3.3 218,8
21,0 19,6   Expected credit loss (raised)/reversed   (12,5) 51,7
 4 135,5 1 791,4    Operating income before impairments and non-operational items 4 3 430,7  2 235,5
(101,9)   Impairments and fair value losses 6 (15,9) (154,2)
4 033,6 1 791,4   Operating income after impairments   3 414,8 2 081,3
      Non-operational items 7 28,3 27,2
4 033,6 1 791,4   Profit including non-operational items   3 443,1 2 108,5
      Finance costs 8.1 (89,1) (57,0)
43,0 24,9   Finance income 8.2 14,2 2,8
(3,6) (15,9)   Foreign exchange profit/(loss) 8.3 45,7 (8,7)
      Investment income   22,7 17,8
      Income from associated companies 15.2 478,0 345,9
43,6   (Loss)/profit on disposal of investment in associated company 15.3 (10,8)
4 073,0 1 844,0   Profit before taxation   3 914,6 2 398,5
(24,0) (9,7)   Taxation 9 (1 019,5) (596,7)
4 049,0 1 834,3   Profit for the year from continuing operations   2 895,1 1 801,8
      DISCONTINUED OPERATIONS      
      Profit for the year from discontinued operations 34 119,8
      Profit for the year   2 895,1 1 921,6
      Attributable to:      
4 049,0 1 834,3   Owners of the parent   2 864,5 1 893,1
      – Continuing operations   2 864,5 1 773,3
      – Discontinued operations   119,8
      Non-controlling interest   30,6 28,5
      – Continuing operations   30,6 28,5
4 049,0 1 834,3       2 895,1 1 921,6
      Basic earnings per ordinary share (cents)   1 762,2 1 142,3
      – Continuing operations   1 762,2 1 070,0
      – Discontinued operations   72,3
      Diluted basic earnings per ordinary share (cents)   1 737,7 1 130,0
      – Continuing operations   1 737,7 1 058,5
      – Discontinued operations   71,5
      Headline earnings per share is disclosed in note 10.