| Group | |||||
| (R’million) | 2018 | 2017 | |||
| 33 | Analysis of profit from discontinued operations | ||||
| In the prior year, the results of the discontinued operation (EATBI) and the results of the held-for-sale business (Haco) – (refer to note 34), were included in the profit for the year as set out below. EATBI and Haco were previously accounted for within the segment referred to as “International operations – East Africa”. The current year pertains only to Haco. | |||||
| Revenue | 42,9 | 561,2 | |||
| Expenses | (31,9) | (547,2) | |||
| Operating income before impairments and abnormal items | 11,0 | 14,0 | |||
| Abnormal items | 7,5 | 97,9 | |||
| Operating income after impairments and abnormal items | 18,5 | 111,9 | |||
| Finance costs | (0,4) | (0,2) | |||
| Profit before taxation | 18,1 | 111,7 | |||
| Taxation | (3,9) | (6,7) | |||
| Profit for the year from discontinued operations | 14,2 | 105,0 | |||
| Attributable to non-controlling interest | (3,3) | 3,3 | |||
| Attributable to owners of parent | 10,9 | 108,3 | |||
| Cash flows from discontinued operations | |||||
| Net cash inflow from operating activities | 7,7 | 138,6 | |||
| Net cash (outflow)/inflow from investing activities | (13,2) | 1,4 | |||
| Net cash inflow/(outflow) from financing activities | 5,8 | (80,8) | |||
| Net cash inflow | 0,3 | 59,2 | |||
| Cash flow on disposal of subsidiary | |||||
| Cash and cash equivalents disposed of | (0,1) | (60,0) | |||
| Proceeds received on disposal | 103,5 | 83,8 | |||
| Total cash inflow on disposal of subsidiary | 103,4 | 23,8 | |||
| Statement of financial position disposed of: |
| Summarised statement of financial position | Group | ||||
| (R’million) | December 2017 |
April 2017 |
|||
| Non-current assets | 178,4 | 196,3 | |||
| Current assets | 202,7 | 310,9 | |||
| Non-current liabilities | (28,9) | (2,3) | |||
| Current liabilities | (150,6) | 10,9 | |||
| Net asset value | 201,6 | 515,8 | |||
Effective 14 December 2017, Tiger Brands disposed of the company´s 51% stake in its Kenyan business, Haco Tiger Brands (E.A.) Limited (Haco), to its local partner, who held the remaining 49% of the company. The comparative relate to the disposal of East African Tiger Brands Industries Plc (EATBI) in the prior year. |