| |
|
|
|
|
Restated# |
| |
(R'million) |
|
2025 |
|
2024 |
| 10.1 |
Cash operating profit^ |
|
|
|
|
| |
Profit before taxation from continuing operations |
|
6 006 |
|
3 492 |
| |
Adjusted for: |
|
|
|
|
| |
Depreciation and amortisation |
|
857 |
|
922 |
| |
Loss on disposal of property, plant and equipment |
|
5 |
|
14 |
| |
Early termination of leases |
|
(9) |
|
(6) |
| |
Expected credit losses |
|
(1) |
|
(20) |
| |
Share-based payments |
|
115 |
|
71 |
| |
Provision movements: |
|
|
|
|
| |
– Provisions for post-retirement medical aid |
|
28 |
|
28 |
| |
– Accrued expenses charged to the income statement |
|
733 |
|
385 |
| |
– Inventory provisions |
|
72 |
|
17 |
| |
– Restructuring provision charges to operating profit |
|
8 |
|
(9) |
| |
Post-retirement medical aid buy-out |
|
(1) |
|
(1) |
| |
Pension fund charged to income statement |
|
1 |
|
– |
| |
Impairments and fair value loss/(gain) |
|
20 |
|
(2) |
| |
Non-operational items |
|
(631) |
|
(242) |
| |
Non-operational items – advisory fees |
|
(44) |
|
(8) |
| |
Net finance (income)/costs |
|
(65) |
|
287 |
| |
Foreign exchange (gain)/loss |
|
(107) |
|
49 |
| |
Realised foreign exchange gain |
|
255 |
|
– |
| |
Investment income |
|
(19) |
|
(22) |
| |
Income from associated companies |
|
(376) |
|
(724) |
| |
Profit on disposal of associate |
|
(996) |
|
– |
| |
Impact of prior year product recall |
|
– |
|
15 |
| |
Cash operating profit – continuing operations |
|
5 851 |
|
4 246 |
| |
Profit before taxation from discontinued operations |
|
(272) |
|
358 |
| |
Depreciation and amortisation |
|
105 |
|
86 |
| |
Provision movements: |
|
|
|
|
| |
– Accrued expenses charged to the income statement |
|
(18) |
|
(5) |
| |
– Inventory provisions |
|
46 |
|
(6) |
| |
Impairments and loss on discontinuance |
|
209 |
|
27 |
| |
Advisory fees |
|
(6) |
|
– |
| |
Net finance costs |
|
9 |
|
7 |
| |
Foreign exchange (gain)/loss |
|
(1) |
|
2 |
| |
Cash operating profit – discontinued operations |
|
72 |
|
469 |
| |
Cash operating profit – total operations |
|
5 923 |
|
4 715 |
| 10.2 |
Working capital changes |
|
|
|
|
| |
Decrease in inventories |
|
511 |
|
258 |
| |
(Increase)/decrease in trade and other receivables |
|
(280) |
|
338 |
| |
Increase in trade and other payables |
|
955 |
|
150 |
| |
Working capital changes |
|
1 186 |
|
746 |
| 10.3 |
Taxation paid |
|
|
|
|
| |
Continuing operations |
|
|
|
|
| |
Opening balance |
|
35 |
|
(47) |
| |
Current year taxation |
|
(1 912) |
|
(724) |
| |
Deferred taxation |
|
(54) |
|
45 |
| |
Exchange rate differences and other non-cash items |
|
– |
|
– |
| |
Amounts payable/(receivable) at the end of the year |
|
538 |
|
(35) |
| |
Taxation paid – continuing operations |
|
(1 393) |
|
(761) |
| |
Discontinued operations |
|
|
|
|
| |
Opening balance |
|
(37) |
|
(48) |
| |
Current year taxation – discontinued operations |
|
29 |
|
(114) |
| |
Deferred taxation – discontinued operations |
|
(12) |
|
16 |
| |
Exchange rate differences and other non-cash items |
|
(13) |
|
1 |
| |
Amounts payable at the end of the year |
|
38 |
|
37 |
| |
Taxation received/(paid) – discontinued operations |
|
5 |
|
(108) |
| |
Taxation paid – total operations |
|
(1 388) |
|
(869) |
| 10.4 |
Dividends paid |
|
|
|
|
| |
Per statement of changes in equity |
|
(3 546) |
|
(1 598) |
| |
Dividends paid to outside shareholders |
|
(2) |
|
(3) |
| |
Total dividends paid |
|
(3 548) |
|
(1 601) |
| 10.5 |
Purchase of property, plant, equipment and intangible assets |
|
|
|
|
| |
Replacement |
|
(252) |
|
(461) |
| |
Expansion |
|
(937) |
|
(509) |
| |
|
|
(1 189) |
|
(970) |
| 10.6 |
Cash and cash equivalents at beginning of the year |
|
|
|
|
| |
Cash resources |
|
1 625 |
|
844 |
| |
Short-term borrowings regarded as cash and cash equivalents |
|
(245) |
|
– |
| |
|
|
1 380 |
|
844 |
| 10.7 |
Cash and cash equivalents at end of the year |
|
|
|
|
| |
Cash resources |
|
3 069 |
|
1 625 |
| |
Short-term borrowings regarded as cash and cash equivalents |
|
(11) |
|
(245) |
| |
Discontinued operations (refer note 13) |
|
169 |
|
– |
| |
|
|
3 227 |
|
1 380 |
