Agribel Annual Financial Review | Page 31

AGRIBEL HOLDINGS LTD FINANCIAL REVIEW 2021
6.3.2 Staalmeester Agricultural Equipment ( Pty ) Ltd
Senwes holds 100 % in Senwes Equip Holdings ( Pty ) Ltd (" Senwes Equip Holdings "). Senwes Equip Holdings has a 75 % interest in Staalmeester Agricultural Equipment ( Pty ) Ltd (“ Staalmeester ”). Staalmeester ’ s core business is the manufacturing , importing and retailing of agri-implements . The financial year-end is the same as Senwes ' financial year-end . The registered office of the company is the same as Senwes ' registered office .
The following is the summarised financial information :
2021 R ' m
2020 R ' m
Financial position Non-current assets
32
34
Current assets
37
33
Trade payables
( 7 )
( 4 )
Current financial liabilities , excluding trade payables
( 3 )
( 10 )
Non-current liabilities
-
( 3 )
Equity attributable to subsidiary
59
50
Attributable to : Equity holders of the parent
44
37
Non-controlling interest
15
13
Non-controlling interest relating to group equity adjustments
( 3 )
( 3 )
Financial results Revenue
71
69
Cost of sales
( 41 )
( 41 )
Other income
1
2
Depreciation
( 1 )
( 1 )
Expenses
( 16 )
( 13 )
Finance costs
( 1 )
( 2 )
Profit before tax
13
14
Tax
( 4 )
( 4 )
Profit after tax
9
10
Non-controlling interest share in profit or loss
2
3
Dividends paid to non-controlling shareholders
-
-
Summarised cash flows are as follows : Generated from operating activities
10
7
Used in investing activities
-
-
Used in financing activities
( 10 )
( 7 )
Net increase in cash flows
-
-
Agribel Holdings Limited Reg nr : 1996 / 017629 / 06 AGRIBEL ANNUAL FINANCIAL REVIEW 2021
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