6. INVESTMENT IN COMPANIES (CONTINUED)
The following is the summarised financial information:
Financial position
Non-current assets 3 352 2 218
Current assets excl. bank and cash 4 815 3 811
Cash and cash equivalents 65 31
Trade payables
2020
R’m
2019
R’m
(791) (536)
Current liabilities excluding trade payables (3 679) (1 993)
Non-current liabilities
(859) (1 168)
Equity 2 903 2 363
Financial results
Revenue 4 803 2 687
Cost of sales
(3 027) (1 357)
Gain on bargain purchase of subsidiary 56 -
Distribution, sales and administrative expenses (1 273) (843)
Credit loss expense on financial assets (8) ( 15)
Finance income 4 -
Finance costs
(90) (80)
Share of (loss)/profit from joint ventures (19) 6
Profit before tax 446 398
Taxation
(109) (115)
Profit for the year after tax 337 283
Profit attributable to:
Equity holders of the parent 303 281
Non-controlling interest 34 2
Other comprehensive income not to be reclassified to profit or loss in subsequent periods,
net of tax
(1) -
Fair value adjustments of other financial assets (2) -
Share of other comprehensive income of joint venture 1 -
Total comprehensive income for the year, net of tax 336 283
Summarised cash flows are as follows:
Generated from operating activities 994 139
Used in investing activities
Used in financing activities
(927) (104)
(33) (1)
Net increase in cash flows 34 34
Senwesbel Limited Reg no: 1996/017629/06 SENWESBEL ANNUAL FINANCIAL STATEMENTS 2020 22