ANNUAL FINANCIAL STATEMENTS 2024

for the year ended 30 September 2024

Statement of changes in equity

for the year ended 30 September 2024

    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 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 (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
Profit for the year 2 304,5 2 304,5
Other comprehensive income for the year 3,5 3,5
Total comprehensive income 3,5 2 304,5 2 308,0
Transfer between reserves* (2 918,6) (19,3) 2 937,9
Share-based payment (1,5) (1,5)
Dividends on ordinary shares (note 12.1) (1 841,1) (1 841,1)
Balance at 30 September 2024 18,0 3,8 8 975,7 423,5 9 421,0
Notes 22            
* Based on a reassessment of reserves in the current year, these amounts have been transferred to accumulated profits
    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 2022 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 (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)  
Profit for the year  
Other comprehensive income/(loss) for the year 1,2 (11,3) (265,0)  
Total comprehensive income/(loss) 1,2 (11,3) (265,0)  
Transfers between reserves 480,9  
Share-based payment1  
Dividends on ordinary shares (note 12.1)  
Total dividends  
Less: Dividends on empowerment shares  
Sale of empowerment shares2  
Repurchase of Tiger Brands shares3  
Balance at 30 September 2024 18,0 3 502,0 (3,9) 49,5 (385,8)  
Notes 22 16          
1 Included in the movement of the share-based payment are options exercised amounting to R89,5 million (2023: R38,0 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, R11,4 million (2023: R5,2 million) related to BMT I
3 During the year ended 30 September 2024, the group embarked on a share repurchase programme through Tiger Consumer Brands Limited, in which 1 104 486 of the listed Tiger Brands shares were repurchased at an average price of R195,08 per share. These shares are held as treasury shares (refer to note 22.3)
             
(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 2022 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 payment1 (34,3) (34,3) (34,3)
Dividends on ordinary shares (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
Profit for the year 3 028,5 3 028,5 29,0 3 057,5
Other comprehensive income/(loss) for the year (9,1) (284,2) (8,9) (293,1)
Total comprehensive income/(loss) 3 019,4 2 744,3 20,1 2 764,4
Transfers between reserves (494,7) 13,8
Share-based payment1 (27,3) (27,3) (27,3)
Dividends on ordinary shares (note 12.1) (1 637,9) (1 637,9) (3,2) (1 641,1)
Total dividends (1 776,3) (1 776,3) (3,2) (1 779,5)
Less: Dividends on empowerment shares 138,4 138,4 138,4
Sale of empowerment shares2 11,4 11,4 11,4
Repurchase of Tiger Brands shares3 (215,5) (215,5) (215,5)
Balance at 30 September 2024 16 672,3 (2 386,2) 512,8 17 978,7 217,4 18 196,1
Notes   23 29