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Tiger Brands Limited Integrated Annual Report
2014
Performance review
Value added is a measure of the wealth the group has been able to create. The following statement shows how this
wealth has been distributed:
(R’million)
2014
%
2013
%
Turnover
30 072,0
100,0
27 003,5
100,0
Less:
Net cost of products and services
22 068,0
73,4
19 985,1
74,0
Value added
8 004,0
26,6
7 018,4
26,0
Add:
Income from investments and associates
624,7
2,1
552,7
2,0
Wealth created
8 628,7
28,7
7 571,1
28,0
Applied to:
Employees
Salaries, wages and other benefits
3 307,2
38,3
2 860,2
37,8
Providers of capital
1 896,2
22,0
1 825,5
24,1
Interest on borrowings
429,0
5,0
399,4
5,3
Dividends and capital distributions to non-controlling
interests and preference shareholders
20,7
0,2
9,9
0,1
Dividends to ordinary shareholders
1 446,5
16,8
1 416,2
18,7
Government
Taxation (refer note 1)
1 472,8
17,1
1 346,1
17,8
Retained in the group
1 952,5
22,6
1 539,3
20,3
8 628,7
100,0
7 571,1
100,0
Note 1
Income taxation (excluding deferred tax)
1 053,1
942,7
Skills development levy
22,8
15,7
Rates and taxes paid to local authorities
23,8
29,1
Customs duties, import surcharges and excise taxes
373,1
358,6
Gross contribution to government
1 472,8
1 346,1
The payments to government exclude taxation deducted from employees’ remuneration of R365,4 million (2013:
R325,8 million), net VAT of R413,1million (2013: R422,1 million), excise duty on revenue and UIF payments.
(R’million)
2014 %
2013 %
2012 %
2011 %
2010 %
Trend of value added
Employees
3 307,2
38
2 860,2 38
2 530,1 36
2 241,1 36
2 151,9 37
Providers of capital
1 896,2
22
1 825,5 24
1 509,2 21
1 313,8 21
1 305,3 22
Government
1 472,8 17
1 346,1 18
1 189,1 17
1 082,6 17
881,6 15
Retained in the group
1 952,5 23
1 539,3 20
1 822,7 26
1 603,4 26
1 492,4 26
8 628,7 100
7 571,1 100
7 051,1 100
6 240,9 100
5 831,2 100
Value added statement