ANNUAL FINANCIAL STATEMENTS 2023
For the year ended 30 September 2023
For the year ended 30 September 2023
For the year ended 30 September 2023
| Non-distributable reserves | |||||||
| (R’million) | Share capital and premium |
Non-distributable reserves |
Other capital reserves |
FVOCI financial assets |
Accumulated profits |
Share- based payment reserve |
Total attributable to owners of the parent |
| COMPANY | |||||||
| Balance at 1 October 2021 | 142,0 | 2 918,6 | 19,3 | 1,4 | 4 256,9 | 609,1 | 7 947,3 |
| Profit for the year | – | – | – | – | 4 049,0 | – | 4 049,0 |
| Other comprehensive loss for the year | – | – | – | (0,1) | – | – | (0,1) |
| Total comprehensive (loss)/income | – | – | – | (0,1) | 4 049,0 | – | 4 048,9 |
| Share-based payment | – | – | – | – | – | 6,3 | 6,3 |
| Dividends on ordinary shares (refer note 12.1) | – | – | – | – | (1 547,4) | – | (1 547,4) |
| Share buy-back transaction1 | (124,0) | – | – | – | (1 329,1) | – | (1 453,1) |
| Balance at 30 September 2022 | 18,0 | 2 918,6 | 19,3 | 1,3 | 5 429,4 | 615,4 | 9 002,0 |
| Profit for the year | – | – | – | – | 1 703,4 | – | 1 703,4 |
|---|---|---|---|---|---|---|---|
| Other comprehensive loss for the year | – | – | – | (1,0) | – | – | (1,0) |
| Total comprehensive (loss)/income | – | – | – | (1,0) | 1 703,4 | – | 1 702,4 |
| Transfers between reserves | – | – | – | – | 196,2 | (196,2) | – |
| Share-based payment | – | – | – | – | – | 5,8 | 5,8 |
| Dividends on ordinary shares (refer note 12.1) | – | – | – | – | (1 754,6) | – | (1 754,6) |
| Balance at 30 September 2023 | 18,0 | 2 918,6 | 19,3 | 0,3 | 5 574,4 | 425,0 | 8 955,6 |
| Notes | 22 | 29 | |||||
| 1 | During the year ended 30 September 2022, the group embarked on a share buy-back scheme, in which 9 490 946 of the listed Tiger Brands shares were repurchased at an average price of R152,62 per share. These shares were cancelled and reverted back to authorised status. The shares were issued at an original par value of R0,1 per share |
Hover over a row in the table to the left to populate this graph
| Non-distributable reserves | |||||||
| (R’million) | Share capital and premium |
Share of net earnings of associates |
Other capital reserves |
Cash flow hedge reserve |
FVOCI financial assets |
Foreign currency translation reserve |
|
| GROUP | |||||||
| Balance at 1 October 2021 – Restated# | 142,0 | 2 471,3 | (3,9) | 12,1 | 44,0 | (334,8) | |
| Profit for the year | – | – | – | – | – | – | |
| Other comprehensive (loss)/income for the year | – | – | – | (14,3) | (48,7) | (73,7) | |
| Total comprehensive (loss)/income | – | – | – | (14,3) | (48,7) | (73,7) | |
| Transfers between reserves | – | 106,0 | – | – | – | – | |
| Share-based payment1 | – | – | – | – | – | – | |
| Dividends on ordinary shares (refer note 12.1) | – | – | – | – | – | – | |
| Total dividends | – | – | – | – | – | – | |
| Less: Dividends on empowerment shares | – | – | – | – | – | – | |
| Sale of empowerment shares2 | – | – | – | – | – | – | |
| Share buy-back transaction3 | (124,0) | – | – | – | – | – | |
| Balance at 30 September 2022 – Restated# | 18,0 | 2 577,3 | (3,9) | (2,2) | (4,7) | (408,5) | |
|---|---|---|---|---|---|---|---|
| Profit for the year | – | – | – | – | – | – | |
| Other comprehensive income for the year | – | – | – | 1,0 | 65,5 | 287,7 | |
| Total comprehensive income | – | – | – | 1,0 | 65,5 | 287,7 | |
| Transfers between reserves | – | 443,8 | – | – | – | – | |
| Share-based payment1 | – | – | – | – | – | – | |
| Dividends on ordinary shares (refer note 12.1) | – | – | – | – | – | – | |
| Total dividends | – | – | – | – | – | – | |
| Less: Dividends on empowerment shares | – | – | – | – | – | – | |
| Sale of empowerment shares2 | – | – | – | – | – | – | |
| Balance at 30 September 2023 | 18,0 | 3 021,1 | (3,9) | (1,2) | 60,8 | (120,8) | |
| Notes | 22 | 16 | |||||
| * | Refer to note 36 for details on restatements |
| 1 | Included in the movement of the share-based payment are options exercised amounting to R38,0 million (2022: R1,0 million) |
| 2 | Relates to the exercising of options vested post the December 2014 lock-in period in terms of the Black Managers Participation Right scheme (BMT I). In the current year, R5,2 million (2022: R6,2 million) related to BMT I |
| 3 | During the year ended 30 September 2022, the group embarked on a share buy-back programme, in which 9 490 946 of the listed Tiger Brands shares were repurchased at an average price of R152,62 per share. The shares were issued at an original par value of R0,1 per share. |
Hover over a row in the table to the left to populate this graph
| (R’million) | Accumulated profits |
Shares held by subsidiary and empowerment entities |
Share-based payment reserve |
Total attributable to owners of the parent |
Non-controlling interests |
Total equity |
| GROUP | ||||||
| Balance at 1 October 2021 – Restated# | 14 776,7 | (2 193,5) | 699,5 | 15 613,4 | 147,4 | 15 760,8 |
| Profit for the year | 2 864,5 | – | – | 2 864,5 | 30,6 | 2 895,1 |
| Other comprehensive (loss)/income for the year | 46,2 | – | – | (90,5) | (2,3) | (92,8) |
| Total comprehensive (loss)/income | 2 910,7 | – | – | 2 774,0 | 28,3 | 2 802,3 |
| Transfers between reserves | (106,5) | – | 0,5 | – | – | – |
| Share-based payment1 | – | – | 52,6 | 52,6 | – | 52,6 |
| Dividends on ordinary shares (refer note 12.1) | (1 384,2) | – | – | (1 384,2) | (33,4) | (1 417,6) |
| Total dividends | (1 497,1) | – | – | (1 497,1) | (33,4) | (1 530,5) |
| Less: Dividends on empowerment shares | 112,9 | – | – | 112,9 | – | 112,9 |
| Sale of empowerment shares2 | – | 6,2 | – | 6,2 | – | 6,2 |
| Share buy-back transaction3 | (1 329,1) | – | – | (1 453,1) | – | (1 453,1) |
| Balance at 30 September 2022 – Restated# | 14 867,6 | (2 187,3) | 752,6 | 15 608,9 | 142,3 | 15 751,2 |
|---|---|---|---|---|---|---|
| Profit for the year | 2 697,2 | – | – | 2 697,2 | 36,7 | 2 733,9 |
| Other comprehensive income for the year | 35,4 | – | – | 389,6 | 22,4 | 412,0 |
| Total comprehensive income | 2 732,6 | – | – | 3 086,8 | 59,1 | 3 145,9 |
| Transfers between reserves | (251,8) | – | (192,0) | – | – | – |
| Share-based payment | – | – | (34,3) | (34,3) | – | (34,3) |
| Dividends on ordinary shares (refer note 12.1) | (1 562,9) | – | – | (1 562,9) | (0,9) | (1 563,8) |
| Total dividends | (1 695,3) | – | – | (1 695,3) | (0,9) | (1 696,2) |
| Less: Dividends on empowerment shares | 132,4 | – | – | 132,4 | – | 132,4 |
| Sale of empowerment shares2 | – | 5,2 | – | 5,2 | – | 5,2 |
| Balance at 30 September 2023 | 15 785,5 | (2 182,1) | 526,3 | 17 103,7 | 200,5 | 17 304,2 |
| Notes | 23 | 29 |
| # | Refer to note 36 for details on restatements |
| 1 | Included in the movement of the share-based payment are options exercised amounting to R38.0 million (2022: R1,0 million) |
| 2 | Relates to the exercising of options vested post the December 2014 lock-in period in terms of the Black Managers Participation Right scheme (BMT). In the current year, R5,2 million (2022: R6,2 million) related to BMT I |
| 3 | During the year ended 30 September 2022, the group embarked on a share buy-back programme, in which 9 490 946 of the listed Tiger Brands shares were repurchased at an average price of R152,62 per share. The shares were issued at an original par value of R0,1 per share |
Hover over a row in the table to the left to populate this graph