Annual financial statements
Statements of changes in equity
for the year ended 30 September 2018
| Non-distributable reserves | ||||||||||||
| (R'million) | Share capital and premium |
Share of net earnings of associates |
Other capital reserves4 |
Cash flow hedge reserve |
Available- for-sale reserve |
Foreign currency translation reserve |
||||||
| Group | ||||||||||||
| Balance at 1 October 2016 | 148,5 | 2 214,5 | (3,9) | (30,1) | 74,0 | 791,6 | ||||||
| Profit for the year | – | – | – | – | – | – | ||||||
| Other comprehensive income/(loss) for the year 2 , 3 | – | – | – | 24,2 | 18,4 | (195,4) | ||||||
| Total comprehensive income/(loss) | – | – | – | 24,2 | 18,4 | (195,4) | ||||||
| Disposal of subsidiary | – | – | – | – | – | – | ||||||
| Transfers between reserves | – | 146,7 | – | – | – | – | ||||||
| Share-based payment5 | – | – | – | – | – | – | ||||||
| Dividends on ordinary shares | – | – | – | – | – | – | ||||||
| Total dividends | – | – | – | – | – | – | ||||||
| Less: Dividends on empowerment shares | – | – | – | – | – | – | ||||||
| Reduction in non-controlling interest in empowerment shares | – | – | – | – | – | – | ||||||
| Sale of shares by empowerment entity1 | – | – | – | – | – | |||||||
| Balance at 30 September 2017 | 148,5 | 2 361,2 | (3,9) | (5,9) | 92,4 | 596,2 | ||||||
| Profit for the year | – | – | – | – | – | – | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Other comprehensive income/(loss) for the year 2, 3 | – | – | – | 22,9 | 8,2 | (163,4) | ||||||
| Total comprehensive income/(loss) | – | – | – | 22,9 | 8,2 | (163,4) | ||||||
| Disposal of subsidiary | – | – | – | – | – | (13,2) | ||||||
| Transfers between reserves | – | 538,1 | – | – | – | – | ||||||
| Share-based payment5 | – | – | – | – | – | – | ||||||
| Dividends on ordinary shares | – | – | – | – | – | – | ||||||
| Total dividends | – | – | – | – | – | – | ||||||
| Less: Dividends on empowerment shares | – | – | – | – | – | – | ||||||
| Sale of shares by empowerment entity1 | – | – | – | – | – | – | ||||||
| Repurchase of Tiger Brands shares6 | (6,5) | – | – | – | – | – | ||||||
| Balance at 30 September 2018 | 142,0 | 2 899,3 | (3,9) | 17,0 | 100,6 | 419,6 | ||||||
| Notes | 20 | 14 | ||||||||||
| (R'million) | Accumulated profits |
Shares held by subsidiary and empowerment entities |
Share- based payment reserve |
Total attributable to owners of the parent |
Non- controlling interests |
Total equity |
||||||
| Group | ||||||||||||
| Balance at 1 October 2016 | 14 373,4 | (2 508,9) | 488,5 | 15 547,6 | 486,3 | 16 033,9 | ||||||
| Profit for the year | 3 119,3 | – | – | 3 119,3 | 18,7 | 3 138,0 | ||||||
| Other comprehensive income/(loss) for the year 2 , 3 | 58,7 | – | – | (94,1) | (10,8) | (104,9) | ||||||
| Total comprehensive income/(loss) | 3 178,0 | – | – | 3 025,2 | 7,9 | 3 033,1 | ||||||
| Disposal of subsidiary | – | – | – | – | (188,9) | (188,9) | ||||||
| Transfers between reserves | (198,3) | – | 51,6 | – | – | – | ||||||
| Share-based payment5 | – | – | 19,9 | 19,9 | – | 19,9 | ||||||
| Dividends on ordinary shares | (1 808,6) | – | – | (1 808,6) | (16,6) | (1 825,2) | ||||||
| Total dividends | (1 968,1) | – | – | (1 968,1) | (16,6) | (1 984,7) | ||||||
| Less: Dividends on empowerment shares | 159,5 | – | – | 159,5 | – | 159,5 | ||||||
| Reduction in non-controlling interest in empowerment shares | – | – | – | – | (22,4) | (22,4) | ||||||
| Sale of shares by empowerment entity1 | – | 19,7 | – | 19,7 | (8,9) | 10,8 | ||||||
| Balance at 30 September 2017 | 15 544,5 | (2 489,2) | 560,0 | 16 803,8 | 257,4 | 17 061,2 | ||||||
| Profit for the year | 2 401,1 | – | – | 2 401,1 | 30,2 | 2 431,3 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Other comprehensive income/(loss) for the year 2, 3 | 15,1 | – | – | (117,2) | 8,7 | (108,5) | ||||||
| Total comprehensive income/(loss) | 2 416,2 | – | – | 2 283,9 | 38,9 | 2 322,8 | ||||||
| Disposal of subsidiary | – | – | – | (13,2) | (94,5) | (107,7) | ||||||
| Transfers between reserves | (550,3) | – | 12,2 | – | – | – | ||||||
| Share-based payment5 | – | – | 39,2 | 39,2 | – | 39,2 | ||||||
| Dividends on ordinary shares | (1 829,3) | – | – | (1 829,3) | (19,7) | (1 849,0) | ||||||
| Total dividends | (1 990,2) | – | – | (1 990,2) | (19,7) | (2 009,9) | ||||||
| Less: Dividends on empowerment shares | 160,9 | – | – | 160,9 | – | 160,9 | ||||||
| Sale of shares by empowerment entity1 | – | 24,1 | – | 24,1 | (18,9) | 5,2 | ||||||
| Repurchase of Tiger Brands shares6 | – | – | – | (6,5) | – | (6,5) | ||||||
| Balance at 30 September 2018 | 15 581,1 | (2 465,1) | 611,4 | 17 302,0 | 163,2 | 17 465,2 | ||||||
| Notes | 21 | 27 |
| 1 | Relates to the exercising of options vested post the December 2014 lock-in period in terms of the Black Managers Participation Rights Scheme (BMT). In the current year, R10,7 million related to BMT I and R13,4 million to Brimstone SPV. |
| 2 | During the current period, R13,2 million (2017: R110,7 million) of the foreign currency translation reserve relating to the disposal of subsidiaries, was reclassified to profit or loss. |
| 3 | The other comprehensive income for FCTR includes the amounts related to the associates of R171,1 million (2017: R86,2 million), of which R117,4 million (2017: R70,8 million) relates to Oceana. Refer to Annexure B for more detail. |
| 4 | Included in other capital reserves are the legal reserve transfers of the African subsidiaries due to statute in the respective foreign countries. |
| 5 | Included in the movement of the share-based payment is options exercised amounting to R46,5 million (2017: R77,8 million). |
| 6 | Tiger Brands Limited repurchased 2 250 942 of its own shares from BMT I I and Brimstone SPV. |
| Non-distributable reserves | ||||||||
| (R’million) | Share capital and premium |
Non- distribut- able reserves |
Other capital reserves |
Available- for-sale reserve |
Accumu- lated profits |
Share- based payment reserve |
Total attribut- able to owners of the parent |
|
| Company | ||||||||
| Balance at 1 October 2016 | 148,5 | 2 918,6 | 19,3 | 3,7 | 6 255,0 | 475,9 | 9 821,0 | |
| Profit for the year | – | – | – | – | 1 940,2 | – | 1 940,2 | |
| Other comprehensive loss for the year | – | – | – | (1,1) | – | – | (1,1) | |
| Total comprehensive (loss)/income | – | – | – | (1,1) | 1 940,2 | – | 1 939,1 | |
| Share-based payment | – | – | – | – | – | 35,1 | 35,1 | |
| Dividends on ordinary shares | – | – | – | – | (2 030,3) | – | (2 030,3) | |
| Balance at 30 September 2017 | 148,5 | 2 918,6 | 19,3 | 2,6 | 6 164,9 | 511,0 | 9 764,9 | |
|---|---|---|---|---|---|---|---|---|
| Profit for the year | – | – | – | – | 2 456,4 | – | 2 456,4 | |
| Other comprehensive income for the year | – | – | – | 4,3 | 2 456,4 | – | 4,3 | |
| Total comprehensive income | – | – | – | 4,3 | 2 456,4 | – | 2 460,7 | |
| Repurchase of Tiger Brands shares | (6,5) | – | – | – | – | – | (6,5) | |
| Share-based payment | – | – | – | – | – | 46,4 | 46,4 | |
| Dividends on ordinary shares | – | – | – | – | (2 050,0) | – | (2 050,0) | |
| Balance at 30 September 2018 | 142,0 | 2 918,6 | 19,3 | 6,9 | 6 571,3 | 557,4 | 10 215,5 | |
| Note | 20 | |||||||