139 / 248
NOTES TO THE GROUP ANNUAL FINANCIAL STATEMENTS
CONTINUED
For the year ended 31 May 2015
137
BLUE LABEL INTEGRATED ANNUAL REPORT 2015
6.
INVESTMENTS IN AND LOANS TO ASSOCIATES AND JOINT VENTURES continued
Associates
The Group’s interests in its principal significant associates, which are unlisted, are as follows:
Associate
Principal activity
Country of incorporation
Smart Voucher
Limited trading as
Ukash
Online cash payment
provider
United Kingdom
Oxigen Services India
Private Limited
Airtime and payment
solution provider
India
2014
R’000
2014
R’000
Statement of financial position
Non-current assets
22 174
129 691
117 463
Current assets
797 626
226 721
166 965
Cash and cash equivalents
611 510
119 757
77 159
Other current assets
186 116
106 964
89 806
819 800
356 412
284 428
Total equity
206 098
75 737
75 037
Non-current liabilities
—
36 687
32 085
Current liabilities
613 702
243 988
177 306
819 800
356 412
284 428
Effective percentage held
17.25
55.83
55.83
Net assets
206 098
75 737
75 037
Interest in associate
35 552
42 284
41 893
Goodwill
44 224
39 663
36 828
Movements in share premium not
accounted for*
—
(20 404)
(20 404)
Balance at the end of the year
79 776
61 543
58 317
Statement of comprehensive
income
Revenue
498 975
4 858 126
3 860 132
Operating profit before depreciation,
amortisation and impairment charges
93 337
25 219
10 803
Depreciation and amortisation
(13 747)
(16 030)
(15 212)
Finance costs
(5)
(10 132)
(6 282)
Finance income
891
4 679
3 914
Net profit/(loss) before taxation
80 476
3 736
(6 777)
Taxation
(17 621)
957
940
Net profit/(loss) after taxation
62 855
4 693
(5 837)
Other comprehensive (loss)/income
27 645
(2 484)
(326)
Total comprehensive income/(loss)
90 500
2 209
(6 163)
Effective percentage held
17.25
55.83
55.83
Share of total comprehensive income/(loss)
15 611
1 233
(3 441)
* IAS 28 –
Investment in Associates
was amended to allow only movements in the associates’ other comprehensive
income to be accounted for.
2015
R’000