Senwes Annual Financial Statements 2022 | Page 37

SENWES ANNUAL FINANCIAL STATEMENTS 2022
6.3.4 PE-BEE Agri ( Pty ) Ltd (" Protek ")
Senwes holds a 51 % share in Protek through its wholly owned subsidiary , Africum ( Pty ) Ltd (" Africum "). Protek ’ s core business is the buying , repackaging , distribution and selling of pesticides and fertiliser for the household and retail market . The financial year-end is the same as Senwes ' financial year-end . The registered office of the company is in Heidelberg , South Africa .
The following is the summarised financial information :
Financial position Non-current assets 12 5 Current assets , excluding bank and cash 69 46 Cash and cash equivalents 7 17 Trade payables
2022 R ' m
2021 R ' m
( 25 ) ( 19 ) Current financial liabilities , excluding trade payables ( 6 ) ( 4 ) Non-current liabilities
( 4 ) ( 1 ) Equity attributable to subsidiary 53 44 Attributable to : Equity holders of the parent 27 22 Non-controlling interest 26 22 Non-controlling interest relating to group equity adjustments 11 11
Financial results Revenue 191 95 Cost of sales
( 102 ) ( 46 ) Other income 1 1 Depreciation Expenses
( 2 ) ( 2 )
( 56 ) ( 29 ) Profit before tax 32 19 Tax
( 9 ) ( 6 ) Profit after tax 23 13 Non-controlling interest share in profit or loss 11 6 Dividends paid to non-controlling shareholders ( 6 ) ( 6 )
Summarised cash flows are as follows : ( Used in )/ generated from operating activities ( 7 ) 23 Used in investing activities
( 7 ) ( 2 ) Generated from /( used in ) financing activities 4 ( 11 ) Net ( decrease )/ increase in cash flows ( 10 ) 10

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