Five-year review

(R'million)   2019    2018  
Restatedo		   2017  
Reclass+		   2016   
Restated*#		   2015  
Restated~
Consolidated income statements                          
Revenue 		   29 233    28 365    31 298    30 588    28 690  
Profit before taxation, income from associates, abnormal items and impairments 		   2 635      3 271      4 317      3 941      3 823  
Income from associates 		   371    731    533    861    603  
Abnormal items and impairments 		   1 735     (620)   (583)   (324)   (339) 
Profit before taxation 		   4 741    3 382    4 267    4 478    4 087  
Taxation  		     (798)   (835)   (1 234)   (1 209)   (977) 
Profit for the year from continuing operations 		     3 943      2 547      3 033      3 269      3 110  
Attributable to:                          
Owners of the parent – continuing operations 		     3 915      2 520      3 011      3 243      3 122  
Non-controlling interests – continuing operations 		     28        27        22       26       (12) 
Consolidated statements of financial position                          
Property, plant and equipment 		   4 976    4 599    4 588    4 542    4 641  
Goodwill and intangible assets 		   3 221    3 447    3 597    3 941    4 233  
Investments 		   2 732    5 102    4 720    4 905    4 312  
Current assets 		   11 213    10 764    10 665    11 099    11 617  
Assets classified as held for sale  		   24     –     365    –    –   
Total assets 		   22 166    23 912    23 935    24 487    24 803  
Issued capital and reserves before share-based payment reserve 		     14 612      16 691      16 244      15 059      13 407  
Share-based payment reserve 		   632    611    560    489    424  
Non-controlling interests 		   163    163    257    487    (53) 
Deferred taxation liability/(asset)		   402    354    304    211    150  
Provision for post-retirement medical aid 		     583      618      619      666      643  
Long-term borrowings 		   –    74    2    1 069    1 215  
Current liabilities 		   5 625    5 401    5 776    6 506    9 017  
Liabilities classified as held for sale 		   149     –     173    –    –  
Total equity and liabilities 		   22 166    23 912    23 935    24 487    24 803  
Consolidated cash flow statements                          
Cash operating profit after interest and taxation 		   2 528    2 998    4 024    3 432    2 841  
Working capital changes 		   91    (573)   745    (604)   (812) 
Dividends received  		   282     179     350     406     326  
Cash available from operations 		   2 901    2 604    5 119    3 234    2 355  
Dividends and capital distributions paid 		     (2 284)      (1 855)     (1 834)       (1 661)     (1 643) 
Net cash flow from operating activities 		     617      749      3 285      1 573      712  
Net cash flow from investing activities 		     (33)   (599)   (803)   115      (1 056) 
Net cash flow before financing activities 		     584      150      2 482      1 688      (344) 
Net cash flow from financing activities 		     (100)    (2)      (1 140)   (562)   76  
Net increase/(decrease) in cash and cash equivalents 		     484      148      1 342      1 126      (268) 
o Restated as required by IFRS 5 in relation to the treatment of Deli Foods Nigeria Limited (International operations – West Africa) as a discontinued operation. Refer note 33.
+ As part of the annual assessment of all disclosure and presentation, the JSE Report on Proactive Monitoring of Financial Statements issued in February 2018 was reviewed. As a consequence, the group has restated its cash flow treatment relating to equity-settled share option schemes as financing activities.
* The comparatives have been restated for the early adoption of IFRS 15 Revenue from Contracts with Customers.
# Restated as required by IFRS 5 in relation to the treatment of East Africa Tiger Brands Industries Plc. (EATBI) and Haco Tiger Brands (EA) Limited (Haco) as discontinued operations.
~ Restated as required by IFRS 5 in relation to the treatment of Tiger Branded Consumer Goods Plc (TBCG) as a discontinued operation.