Summarised annual financial statements
Summarised consolidated income statement
FOR THE YEAR ENDED 30 SEPTEMBER
| Audited | |||
| R million | Notes | 2020 | Restated * 2019 |
|---|---|---|---|
| CONTINUING OPERATIONS | |||
| Revenue | 49 683 | 60 206 | |
| Operating profit before items listed below | 5 122 | 6 547 | |
| Impairment losses on financial assets and contract assets | (292) | (75) | |
| Depreciation | (2 661) | (2 387) | |
| Amortisation of intangible assets | (136) | (115) | |
| Operating profit before B-BBEE transaction charge | 2 033 | 3 970 | |
| B-BBEE transaction charge | (236) | (73) | |
| Operating profit | 1 797 | 3 897 | |
| Fair value adjustments on financial instruments | (340) | 22 | |
| Finance costs | (1 274) | (1 134) | |
| Income from investments | 155 | 203 | |
| Profit before non-operating and capital items | 338 | 2 988 | |
| Non-operating and capital items comprising of: | |||
| Impairment of investments | (194) | (25) | |
| Impairment of goodwill | (702) | ||
| Impairment of indefinite life intangible assets | (708) | ||
| Impairment of property, plant and equipment, intangibles and other assets | (303) | (127) | |
| Fair value gain on deconsolidation of subsidiary | 212 | ||
| Other non-operating and capital items | 7 | 15 | |
| (Loss)/profit before taxation | (1 562) | 3 063 | |
| Taxation | (889) | (850) | |
| (Loss)/profit after taxation | (2 451) | 2 213 | |
| (Loss)/income from associates and joint ventures | (48) | 231 | |
| (Loss)/profit for the year from continuing operations | (2 499) | 2 444 | |
| DISCONTINUED OPERATIONS | |||
| Profit from discontinued operations | 33 | ||
| (Loss)/profit for the year | (2 499) | 2 477 | |
| Attributable to: | |||
| Owners of Barloworld Limited | (2 476) | 2 428 | |
| Non-controlling interests in subsidiaries | (23) | 49 | |
| (2 499) | 2 477 | ||
| (Loss)/earnings per share (cents) | |||
| - basic | 2 | (1 236.0) | 1 150.2 |
| - diluted | 2 | (1 236.0) | 1 146.9 |
| (Loss)/earnings per share from continuing operations (cents) | |||
| - basic | 2 | (1 236.0) | 1 134.6 |
| - diluted | 2 | (1 236.0) | 1 131.3 |
| Earnings per share from discontinued operation (cents) | |||
| - basic | 15.6 | ||
| - diluted | 15.6 | ||
| * | The restatement is due to Avis fleet no longer being classified as a discontinued operation, the restatement of impairment losses on financial assets and contract assets together with thedisaggregation of non-operating and capital items. |
This set of financial statements has been extracted from the summarised preliminary report issued on 30 November 2020 which EY expressed an opinion that the preliminary consolidated financial statements are consistent, in all material respects, with the audited consolidated financial statements. This set of summarised consolidated financial statements is a summary of the complete set of financial statements available for inspection at our registered office and the Company's website (www.barloworld.com/investors). An unmodified audit opinion was issued on the complete set of the consolidated financial statements.