| F
I V E – Y E A R R E V I E W |
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2002
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2001 |
2000*
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1999
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1998
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Rm
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Rm
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Rm
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Rm
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Rm
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ASSETS |
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Property,
plant and equipment |
157,1
|
161,8
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154,2
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236,5
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354,6
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Goodwill |
360,0
|
10,9
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Investments |
151,6 |
188,4 |
176,4 |
135,4 |
160,9 |
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RC&C
Finance Company |
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accounts
receivable |
953,9 |
745,1 |
751,6 |
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Deferred
taxation assets |
25,9 |
42,0 |
22,6 |
29,2 |
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Cash
and cash equivalents |
283,5 |
303,5 |
222,8 |
958,0 |
496,9 |
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Other
current assets |
1
372,7 |
1 092,0 |
933,3 |
1 260,3 |
1
493,7 |
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Total
assets |
3 304,7 |
2 543,7 |
2
260,9 |
2
619,4 |
2
506,1 |
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EQUITY
AND LIABILITIES |
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Ordinary
and preference |
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shareholders |
1 071,1 |
878,5 |
919,7 |
674,4 |
938,7 |
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Outside
shareholders |
103,5 |
137,9 |
101,2 |
217,8 |
254,7 |
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Interest
of all shareholders |
1 174,6 |
1 016,4 |
1 020,9 |
892,2 |
1
193,4 |
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Deferred
taxation liabilities |
45,9 |
48,6 |
31,3 |
5,8 |
5,7 |
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Long-term
borrowings |
- |
2,7 |
4,1 |
4,5 |
5,2 |
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RC&C
Finance Company |
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short-term
borrowings |
838,0 |
324,0 |
147.2 |
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Current
liabilities |
1
246,2 |
1
152,0 |
1
057,4 |
1
716,9 |
1
301,8 |
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Total
equity and liabilities |
3 304,7 |
2
243,7 |
2
260,9 |
2
619,4 |
2
506,1 |
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RESULTS |
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Revenue |
5 062,9 |
4 229,8 |
3 340,1 |
4
565,5 |
4 919,5 |
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Operating
profit |
472,1 |
379,2 |
273,2 |
296,6 |
234,1 |
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Net
interest and dividend income |
36,5 |
59,1 |
58,8 |
95,7 |
35,5 |
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Profit
before abnormal items |
508,6 |
438,3 |
332,0 |
392,3 |
269,6 |
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Abnormal
items |
(18,7) |
– |
77,4 |
88,6 |
– |
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Profit
before taxation |
489,9 |
438,3 |
409,4 |
480,9 |
269,6 |
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Taxation |
(177,3) |
(145,6) |
(114,0) |
(147,6) |
(98,8) |
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Profit
after taxation |
312,6 |
292,7 |
295,4 |
333,3 |
170,8 |
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Share
of associate companies' profit |
89,6 |
81,8 |
73,8 |
79,5 |
100,2 |
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Profit
after taxation |
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including
associate companies |
402,2 |
374,5 |
369,2 |
412,8 |
271,0 |
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Interest
of outside shareholders |
(31,6) |
(42,4) |
(4,3) |
(53,6) |
(60,6) |
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Headline
earnings attributable to |
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shareholders
of Reunert Limited |
429,3 |
335,2 |
284,3 |
274,2 |
211,1 |
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Earnings
attributable to |
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shareholders
of Reunert Limited |
370,6 |
332,2 |
365,0 |
359,2 |
210,4 |
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Headline
earnings per share (cents) |
229,5 |
174,8 |
139,6 |
136,8 |
105,6 |
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Pro
forma headline earnings |
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per
share (cents) |
229,5 |
174,8 |
139.6 |
107,7** |
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Basic
earnings per share (cents) |
198,1 |
173,3 |
179,2 |
179,2 |
105,2 |
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CONSOLIDATED
CASH FLOW STATEMENTS |
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Net
cash inflow from operating |
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activities |
(58,9) |
197,6 |
360,4 |
373,5 |
474,0 |
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Investments
net of disposals to |
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maintain
operating capacity |
1,9 |
9,8 |
(33,2) |
28,5 |
(35,3) |
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Cash
available for investments to |
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increase
operating capacity |
(57,0) |
187,8 |
327,2 |
402,0 |
438,7 |
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Investments
to (decrease)/increase |
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operating
capacity (net) |
(468,2) |
(75,9) |
83,0 |
49,6 |
(17,4) |
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Net
cash internally generated |
(525,2) |
111,9 |
410,2 |
451,6 |
421,3 |
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* Only the 2000 and 2001 information has been restated to take account of the effect of the new accounting policies adopted on 1 October 2001 of depreciating all properties and accounting for dividends in the period that the declaration takes place.
** The ordinary shareholders of Reunert Limited received a special dividend of R510 million (R2,50 per share) on 29 October 1999. This payment had a major distorting effect on the comparability of the results of 2000 and prior years. Had this dividend been paid on 29 October 1998, the after-tax effect, calculated using an average interest rate of 16%, would have been to reduce headline earnings for 1999 of R274,2 million by R58,3 million. |
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