NOTES TO THE GROUP ANNUAL FINANCIAL STATEMENTS l NOTE 14

14. Assets and liabilities of disposal group classified as held-for-sale and discontinued operation
 

Plan to dispose of Africa Prepaid Services Nigeria Limited

In the 2011 financial year, the board of directors committed to disposing of the majority of assets and liabilities of Africa Prepaid Services Nigeria Limited to a third party in Nigeria. The sale was concluded on 15 June 2011. The Group has recognised the assets and liabilities of this disposal group at fair value less cost to sell. Fair value has been determined based on prices set as per the sales agreement.
  Analysis of profit for the year from discontinued operation

The results of the discontinued operation of Africa Prepaid Services Nigeria, which were included in the consolidated statement of comprehensive income in the prior year, are set out below.
    Note       2013
R’000		   2012
R’000		  
  Profit for the year from discontinued operations                
  Revenue         —   6 690  
  Changes in inventories of finished goods         —   (6 535)  
  Employee compensation and benefit expense         —   (1 576)  
  Other expenses         —   (13 676)  
  Operating loss 21       —   (15 097)  
  Finance income         —   4  
  Net loss before taxation from discontinued operation         —   (15 093)  
  Taxation         —   (362)  
  Net loss for the year from discontinued operation         —   (15 455)  
  Other comprehensive (loss)/income from discontinued operation:                
  Foreign currency translation reserve recycled to profit or loss         —   —  
  Other comprehensive profit for the year, net of tax         —   —  
  Total comprehensive loss for the year         —   (15 455)  
  Cash flows from discontinued operation                
  Operating cash flows         —   (8 850)  
  Investing cash flows         —   —  
  Total cash flows         —   (8 850)  

NOTES TO THE GROUP ANNUAL FINANCIAL STATEMENTS l NOTE 14