Notes | |||||
Profit from operations is stated after the following : |
|||||
Employee costs ( including directors ' costs ) |
22.4 , 26.5 |
( 1,230 ) |
( 943 ) |
( 430 ) |
( 406 ) |
Increase in allowance for expected credit loss on financial assets |
( 18 ) |
( 28 ) |
- |
( 18 ) |
|
Bad debt written off |
( 19 ) |
( 15 ) |
( 14 ) |
( 1 ) |
|
Water and electricity |
( 156 ) |
( 132 ) |
( 100 ) |
( 94 ) |
|
Depreciation |
2 , 4 |
( 157 ) |
( 139 ) |
( 81 ) |
( 71 ) |
Maintenance costs |
( 108 ) |
( 104 ) |
( 72 ) |
( 74 ) |
|
Lease expenses ( low value and short-term ) |
( 24 ) |
( 13 ) |
( 30 ) |
( 27 ) |
|
Property |
( 11 ) |
( 6 ) |
( 25 ) |
( 22 ) |
|
Plant and equipment |
( 13 ) |
( 7 ) |
( 5 ) |
( 5 ) |
|
Lease expenses ( variable payments ) |
- |
- |
( 37 ) |
( 4 ) |
|
Foreign exchange ( loss )/ profit |
( 8 ) |
( 1 ) |
( 8 ) |
1 |
|
( Increase )/ decrease in provision for grain risk |
19.1 |
( 6 ) |
42 |
( 6 ) |
42 |
( Impairment )/ impairment reversal of investment and loans to related parties ** |
8 , 7.1 |
( 4 ) |
9 |
- |
( 11 ) |
Cost of sales : Merchandise inventory provision part of cost of sales |
( 7 ) |
21 |
- |
- |
|
Cost of sales : Purchases |
( 7,602 ) |
( 4,883 ) |
( 115 ) |
( 110 ) |
GROUP |
COMPANY |
||||
2022 R ' m |
* 2021 R ' m |
2022 R ' m |
* 2021 R ' m |
||
Loans from commercial banks |
( 35 ) |
( 61 ) |
( 164 ) |
( 46 ) |
|
Commodity finance |
( 20 ) |
( 18 ) |
( 20 ) |
( 18 ) |
|
AgriRewards *** |
( 8 ) |
( 4 ) |
( 7 ) |
( 4 ) |
|
Other ** |
( 38 ) |
( 17 ) |
( 28 ) |
( 19 ) |
|
Total finance costs classified as operating costs |
( 101 ) |
( 100 ) |
( 219 ) |
( 87 ) |
|
Finance costs relating to the lending business |
( 133 ) |
( 112 ) |
- |
( 112 ) |
|
Total finance costs classified as cost of sales |
( 133 ) |
( 112 ) |
- |
( 112 ) |
|
Total finance costs |
( 234 ) |
( 212 ) |
( 219 ) |
( 199 ) |
|
* Refer to note 34 for details regarding adjusted prior year figures . ** Other interest includes interest paid on loans payable to joint ventures and lease liability interest accrued . |
|||||
*** The AgriRewards interest is non-cash flow in nature , and relates to the discounting of the AgriRewards liability . Refer to note 7.2.5 . |
GROUP |
COMPANY |
|||
2022 R ' m |
* 2021 R ' m |
2022 R ' m |
* 2021 R ' m |
|
Loans and other receivables |
140 |
134 |
3 |
80 |
Trade receivables |
174 |
158 |
2 |
79 |
Other loans to related parties |
- |
37 |
222 |
143 |
AgriRewards allocation ** |
( 2 ) |
( 2 ) |
- |
- |
Total finance income classified as revenue |
312 |
327 |
227 |
302 |
Finance income |
38 |
20 |
16 |
14 |
Total finance income other than revenue |
38 |
20 |
16 |
14 |
Total finance income |
350 |
347 |
243 |
316 |
* Refer to note 34 for details regarding adjusted prior year figures . |
GROUP |
COMPANY |
||||
Note |
2022 R ' m |
2021 R ' m |
2022 R ' m |
2021 R ' m |
|
Total remuneration |
1,065 |
819 |
368 |
349 |
|
Remuneration and benefits |
955 |
754 |
286 |
288 |
|
Short-term incentive bonus |
105 |
67 |
76 |
57 |
|
Equity-settled share-based bonus * |
16.2 |
5 |
( 2 ) |
6 |
4 |
Pension costs – defined contribution plan |
37 |
32 |
24 |
23 |
|
Total employee costs |
1,102 |
851 |
392 |
372 |
|
* Only senior managers qualify for the equity-settled share-based scheme . |
Number |
Number |
Number |
Number |
|
Permanent employees |
4,455 |
4,374 |
1,094 |
1,124 |
Temporary employees |
531 |
724 |
150 |
199 |
Employees at the end of the year * |
4,986 |
5,098 |
1,244 |
1,323 |
* Includes only employees of the company and its subsidiaries . |