Interim condensed consolidated statement of changes in equity

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R’million Share capital
and premium		 Non-distributable
reserves		 Accumulated
profits		 Shares held
by subsidiary
and
empowerment
entities
Balance at 1 October 2016 148,5 3 046,1 14 373,4 (2 508,9)
Profit for the period – – 1 686,6 –
Other comprehensive loss – (192,0) – –
Total comprehensive (loss)/income – (192,0) 1 686,6 –
Transfers between reserves3 – 34,6 (85,1) –
Share-based payment2 – – – –
Dividends on ordinary shares (net of dividend on treasury shares) – – (1 176,1) –
Reduction in non-controlling interest in empowerment shares – – – –
Sale of empowerment shares1 – – – 14,6
Balance at 31 March 2017 148,5 2 888,7 14 798,8 (2 494,3)
Profit for the period – – 1 432,7 –
Other comprehensive income – 39,2 58,7 –
Total comprehensive income – 39,2 1 491,4 –
Disposal of subsidiary – – – –
Transfers between reserves3 – 112,1 (113,2) –
Share-based payment2 – – – –
Dividends on ordinary shares (net of dividend on treasury shares) – – (632,5) –
Sale of empowerment shares1 – – – 5,1
Balance at 30 September 2017 148,5 3 040,0 15 544,5 (2 489,2)
Profit for the period – – 1 406,5 –
Other comprehensive loss – (710,4) – –
Total comprehensive (loss)/income – (710,4) 1 406,5 –
Disposal of subsidiary – (13,2) – –
Transfers between reserves3 – 341,2 (352,7) –
Share-based payment2 – – – –
Dividends on ordinary shares (net of dividend on treasury shares) – – (1 189,9) –
Sale of empowerment shares1 – – – 26,2
Repurchase of Tiger Brands Shares4 (6,5) – – –
Balance at 31 March 2018 142,0 2 657,6 15 408,4 (2 463,0)

R’million Share-based
payment
reserve		 Total attributable
to owners of
the parent		 Non-controlling
interests		 Total
equity
Balance at 1 October 2016 488,5 15 547,6 486,3 16 033,9
Profit for the period – 1 686,6 10,6 1 697,2
Other comprehensive loss – (192,0) (21,6) (213,6)
Total comprehensive (loss)/income – 1 494,6 (11,0) 1 483,6
Transfers between reserves3 50,5 – – –
Share-based payment2 (31,7) (31,7) – (31,7)
Dividends on ordinary shares (net of dividend on treasury shares) – (1 176,1) – (1 176,1)
Reduction in non-controlling interest in empowerment shares – – (22,4) (22,4)
Sale of empowerment shares1 – 14,6 (6,1) 8,5
Balance at 31 March 2017 507,3 15 849,0 446,8 16 295,8
Profit for the period – 1 432,7 8,1 1 440,8
Other comprehensive income – 97,9 10,8 108,7
Total comprehensive income – 1 530,6 18,9 1 549,5
Disposal of subsidiary – – (188,9) (188,9)
Transfers between reserves3 1,1 – – –
Share-based payment2 51,6 51,6 – 51,6
Dividends on ordinary shares (net of dividend on treasury shares) – (632,5) (16,6) (649,1)
Sale of empowerment shares1 – 5,1 (2,8) 2,3
Balance at 30 September 2017 560,0 16 803,8 257,4 17 061,2
Profit for the period – 1 406,5 17,7 1 424,2
Other comprehensive loss – (710,4) (6,9) (717,3)
Total comprehensive (loss)/income – 696,1 10,8 706,9
Disposal of subsidiary – (13,2) (94,5) (107,7)
Transfers between reserves3 11,5 – – –
Share-based payment2 (3,8) (3,8) – (3,8)
Dividends on ordinary shares (net of dividend on treasury shares) – (1 189,9) (3,8) (1 193,7)
Sale of empowerment shares1 – 26,2 (13,4) 12,8
Repurchase of Tiger Brands Shares4 – (6,5) – (6,5)
Balance at 31 March 2018 567,7 16 312,7 156,5 16 469,2
1 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, R12,8 million related to BMT II and R13,4 million to Brimstone SPV
2 Included in the movement of the share-based payment are options exercised amounting to R41,6 million (2017: R74,4 million).
3 Transfer between reserves relate to the share of associates’ earnings and the equity-settled options exercised.
4 Tiger Brands Limited repurchased 2 250 942 of its own shares from Black Managers Trust 2 and Brimstone.