SUIDWES HOLDINGS (RF) PROPRIETARY LIMITED NOTES TO THE FINANCIAL STATEMENTS 1 . B a s i s OF P R E PA R AT I ON The accounting policies applied in the preparation of the financial statements from which these summarised financial statements were derived are in terms of International Financial Reporting Standards and are consistent with those accounting policies applied in the preparation of the previous annual financial statements. The auditor expressed an unmodified opinion on the annual financial statements from which these summarised financial statements were derived. A copy of the annual financial statements are available for inspection at the Company’s registered office. These summarised financial statements does not necessarily report on all of the information contained in the full set financial statements. Shareholders are advised that in order to obtain a full understanding of the financial results, they should obtain a copy of the annual financial statements at the Company’s registered office. 2 . SE G M ENT ANALY S I S Management has determined the operation segments based on the reports reviewed by the executive committee that are used to make strategic decisions. The committee considers the business from a product and service perspective. The executive committee assesses the performance of the operating segments based on a measure of Earnings before tax and non-controlling interest. Certain overhead costs are not allocated to segments, as these costs are managed on a central basis. The amounts provided to the executive committee with respect to total assets measured in a manner consistent with that of the financial statements. These assets are allocated based on the operations of the segments. Investment in shares, classified as available-for-sale financial assets, are considered to be part of the Financing and Investing segment. The amounts provided to the executive committee with respect to total liabilities are measured in a manner consistent with that of the financial statements. These liabilities are allocated based on the operation of the segment. An analysis of the revenue of each segment is as follows: GRAIN Income received from the handling and storage of agricultural products and the total revenue of grain sold including commission earned on grain marketing as well as grain derivatives. TRADING Sales at the retail outlets, direct sales of farming inputs and general commercial merchandise, agricultural machinery and equipment, parts and repair services. Wholesale sales by Agrinet (Pty) Ltd and PE-BEE Agri (Pty) Ltd. F I N A N C I N G A N D I NV E S T M E NT S Credit extension to farmers and grain-off takers in the form of production credit, long term loans and instalment sale financing. This income also includes commission received on premiums received from insurance broker service to the short-term, long- term and crop insurance market as well income on investing activities.50
SUIDWES HOLDINGS (RF) PROPRIETARY LIMITED NOTES TO THE FINANCIAL STATEMENTSTECHNOLOGYAgri-services, Information Technology, Laboratory- and Network services.CORPORATEHead Office services, Human Resources, Secretarial services, Corporate Marketing, Internal Audit and directors.The value of intersegmental sales is immaterial in relation to total sales and is therefore not disclosed separately.An analysis of geographical segments is not provided as the geographical distribution, as defined in terms of IFRS, is notmaterial.For the year ended Grain Retail Financing Technology Corporate Consolida- Total30 April 2017 and tion R’000 R’000 R’000 R’000 R’000Total segment income 266,656 2,589,525 Investments 61,922 121,971 R’000 2,891,627Finance costs (36,288) R’000 (311,258)Depreciation and impairment (3,354) (39,717) (278) 9,488 (57,967)Amortisation (12,503) 162,811 (1,529) (1,258) 51,640 (18,785)Income/(Loss) from - (42,812) - (1,653)equity accountable investments - (179) (7) -Profit/(Loss) before tax - (140) 70 - (1,462) 603Total assets (5) -Total liabilities 533Capital expenditure (76,787) 7,598 72,192 10,620 (55,841) - (42,218) 377,542 1,007,545 149,537 41,662 1,906,998 (1,546,387) 1,936,897 (318,447) (809,531) (107,595) (8,330) (562,561) (1,383,402) 11,915 4,193 423,062 16,048 351 31,597 (10) 64,094For the year ended Grain Retail Financing Technology Corporate Consolida- Total30 April 2016 and tion R’000 R’000 R’000 R’000 R’000Total segment income 244,741 2,428,286 Investments 49,091 175,750 R’000 2,805,307Finance costs (15,286) R’000 (25,747) (222,738)Depreciation and impairment (35,866) (327) (3,924) (47,969)Amortisation 277 (8,986) 130,177 (1,525) 33,947 (14,397)Income/(Loss) from - (4,690) (38) -equity accountable investments - (104) (55) 2 - (197)Profit/(Loss) before tax (5,724) (239) 68 - (5,163)Total assets -Total liabilitiesCapital expenditure 491 48,461 4 844 81,985 10,129 (50,334) - 95,085 506,914 864,488 127,883 36,139 1,445,692 (1,162,643) 1,818,473 (237,435) (634,873) (84,655) (9,985) (1,219,538) 14,925 17,192 1,964 (85,343) (167,247) 93 12,696 - 46,870 51
ADMINISTRATIVE INFORMATION REGISTERD ADDRESS AND B A NK E R S POSTAL ADDRESS Land and Agricultural Development Bank of South Africa Voortrekker Road • Leeudoringstad • 2640 First National Bank, a division of First Rand Bank Limited PO Box 5 • Leeudoringstad • 2640 ABSA Bank Limited, member of the Barclays Group Nedbank, a division of Nedcor Bank Limited WEBSITE Standard Bank of South Africa Limited http://www.suidwes.co.za R E G I S T R AT I O N NU M B E R S O F COMPANIES GROUP SECRETARY Suidwes Holdings (RF) (Pty) Ltd (1998/007242/07) D Linde Suidwes Investments (Pty) Ltd (1998/007601/07) PO Box 5 • Leeudoringstad • 2640 Suidwes Agriculture (Pty) Ltd (1990/006879/07) Africum Limited (2011/102794/06) Tel: (018) 581 1000 Suidwesfin (Pty) Ltd (1998/007714/07) Fax: (018) 581 1585 Suidwes Brokerage (Pty) Ltd (1993/000083/07) Email: [email protected] Africum Commodities (Pty) Ltd (1994/000592/07) Terratek International (Pty) Ltd (1997/000060/07) TRANSFER SECRETARY Suidwes IT-Solutions (Pty) Ltd (1996/018157/07) Suidwes IT-Solutions II (Pty) Ltd (2014/051978/07) Group Secretary – see particulars above NviroTek Laboratories (Pty) Ltd (2007/029712/07) Agrinet (Pty) Ltd (1999/001922/07) TRADING OFFICE Network Embedded Technologies (Pty) Ltd (2009/014440/07) Care of Raddix Group (Pty) Ltd (2012/115113/07) Group Secretary PE-BEE Agri (Pty) Ltd (2005/036308/07) PO Box 5 • Leeudoringstad • 2640 Africum Mills (Pty) Ltd (1994/001751/07) Agrifriend Equipment (Pty) Ltd (2012/195690/07) Enquiries: Mrs. Salome Pieterse Agrifriend Namibia (Pty) Ltd (2013/0274) Tel: (018) 581 1023 Agrifriend Technology (Pty) Ltd (2013/090793/07) Fax: (018) 581 1548 Agrifriend Commodities (Pty) Ltd (2015/043713/07) Botselo Mills (Pty) Ltd (2007/025513/07) Email: [email protected] TO L L - F ree NU M B E R AUDITORS 0800 511 475 PricewaterhouseCoopers Incorporated Second Avenue 61 • Westdene • Bloemfontein • 9301 WHISTLE BLOWERS PO Box 818 • Bloemfontein • 9300 0800 203 115 Compiled by Advalue - 082 375 408752
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