| Summarised notes to the consolidated financial statements l Note 6 |
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Audited |
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2014
Rm |
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| 6. |
Assets classified as held for sale and discontinued operation |
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Following the disposal of the Automotive Australia business on 31 March 2014 it was
classified as a discontinued operation. |
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Results from discontinued operation are as follows: |
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Revenue |
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2 783 |
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Operating profit before items listed below (EBITDA) |
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96 |
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Depreciation |
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(10) |
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Operating profit |
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86 |
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Net finance costs and dividends received |
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(8) |
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Profit before taxation |
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78 |
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Taxation |
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(24) |
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Net profit of discontinued operation before profit on disposal |
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54 |
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Profit on disposal of discontinued operations (including realisation of translation reserve) |
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369 |
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Taxation effect of disposal |
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5 |
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Profit from discontinued operation per income statement |
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428 |
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The cash flows from the discontinued operation are as follows: |
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Cash flows from operating activities |
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198 |
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Cash flows from investing activities |
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1 179 |
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Cash flows from financing activities |
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(889) |
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The major classes of assets and liabilities comprising the disposal group and other assets classified as held for sale are as follows: |
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Property, plant and equipment |
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5 |
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Goodwill |
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29 |
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Intangibles |
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97 |
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Inventories |
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32 |
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Trade and other receivables |
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20 |
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Cash balances |
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14 |
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Assets of disposal group held for sale |
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197 |
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Trade and other payables |
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(42) |
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Other current and non-current liabilities |
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(1) |
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Total liabilities associated with assets classified as held for sale |
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(43) |
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Net assets classified as held for sale |
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154 |
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Per business segment: |
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Handling |
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73 |
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Logistics |
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81 |
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Total group |
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154 |
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The assets held for sale relate to the net assets of the Agriculture Zambia operation and the South African, UK and
US Supply Chain Software businesses within Barloworld Logistics. The conclusion of these transactions are well advanced. |
| Summarised notes to the consolidated financial statements l Note 6 |
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