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UNAUDITED GROUP RESULTS for the six months ended 31 March 2020

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Interim Condensed Consolidated Segmental Information

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R'million         Unaudited 
six months 
ended 
31 March 
2020 		    Restated 
unaudited 
six months 
ended 
31 March 
2019#		   Audited 
year ended 
30 September 
2019 		     
REVENUE                         
Domestic operations       14 157,6    13 724,0    25 987,9     
   Grains       6 776,6    6 697,3    13 225,9     
      Milling and Baking1       4 783,2    4 566,0    9 436,7     
      Other Grains2       1 993,4    2 131,3    3 789,2     
   Consumer Brands – Food       5 869,5    5 572,2    10 091,8     
      Groceries       3 014,0    2 981,6    5 100,4     
      Snacks & Treats       1 105,3    1 204,4    2 249,4     
      Beverages       944,8    905,4    1 546,9     
      Value Added Meat Products       524,7    212,6    653,8     
      Out of Home       280,7    268,2    541,3     
   Home, Personal Care and Baby (HPCB)       1 511,5    1 454,5    2 670,2     
      Personal Care       269,7    303,5    639,3     
      Baby Care       475,2    475,9    980,8     
      Home Care       766,6    675,1    1 050,1     
EXPORTS AND INTERNATIONAL       1 551,3    1 609,3    3 244,8     
   Exports       733,1    792,6    1 491,6     
   International operation                    
   – Central Africa (Chococam)       468,3    463,5    906,2     
   Deciduous Fruit (LAF)       575,8    610,8    1 281,7     
   Other intergroup sales       (225,9)   (257,6)   (434,7)    
Continuing operations       15 708,9    15 333,3    29 232,7     
Discontinued operation – West Africa (Deli Foods)       9,8    68,8    151,0     
TOTAL REVENUE       15 718,7    15 402,1    29 383,7     
OPERATING INCOME BEFORE                    
IMPAIRMENTS AND ABNORMAL ITEMS3                    
Domestic operations       1 048,3    1 412,0    2 472,1     
   Grains       531,8    788,3    1 441,8     
      Milling and Baking1       497,1    636,2    1 240,0     
      Other Grains2       34,7    152,1    201,8     
   Consumer Brands – Food       236,6    332,7    493,5     
      Groceries       169,8    232,5   325,3     
      Snacks & Treats       102,6    167,6    312,7     
      Beverages       167,1    178,4    296,2     
      Value Added Meat Products       (255,7)   (295,7)   (547,0)    
      Out of Home       52,8    49,9    106,3     
   Home, Personal Care and Baby (HPCB)       283,1    294,8    545,6     
      Personal Care       10,5    27,2    88,6     
      Baby Care       46,1    68,1    150,8     
      Home Care       226,5    199,5    306,2     
      Other4       (3,2)   (3,8)   (8,8)    
EXPORTS AND INTERNATIONAL       53,9    147,9    212,1     
   Exports       3,6    76,0    47,8     
   International operation                    
   – Central Africa (Chococam)       71,0    84,2    172,0     
   Deciduous Fruit (LAF)       (20,7)   (12,3)   (7,7)    
Total operating income before IFRS 2 charges       1 102,2    1 559,9    2 684,2     
IFRS 2 charges       (24,3)   (33,8)   (60,9)    
Total operating income after IFRS 2 charges       1 077,9    1 526,1    2 623,3     
Discontinued operation – West Africa (Deli Foods)       (7,6)   (10,2)   (17,1)    
TOTAL OPERATING INCOME       1 070,3    1 515,9    2 606,2     
All segments operate on an arm’s length basis in relation to inter-segment pricing.
# Restated as required by IFRS 5 in relation to the treatment of Deli Foods Nigeria Limited (Deli Foods) (International operations – West Africa) as a discontinued operation. Refer to note 7.
1 Comprises maize milling, wheat milling and baking, sorghum beverages and malt-based breakfast cereals.
2 Comprises rice, pasta and oat-based breakfast cereals.
3 Operating income is stated after amortisation of intangible assets.
4 Includes the corporate office and management expenses relating to international investments.