Download - African Bank

More documents

Recommendations

Info

Notes to the annual financial statements (continued) for the year ended 30 September 2003 African Bank Investments Limited 116 Group Company 2003 2002 2003 2002 R000 R000 R000 R000 24. TAXATION Charge for the year SA normal tax – Current year 325 221 226 382 61 302 – Prior years’ (over)/underprovision (2 084) 2 408 – 687 Deferred tax – Current year (10 689) (1 161) – – – Prior years’ overprovision of deferred tax asset 1 623 – – – Taxation per income statement (excluding indirect taxation) 314 071 227 629 61 989 Secondary tax on companies (STC) – Current 21 933 25 049 1 933 – – Deferred 11 033 (15 771) 15 057 (15 771) Value-added tax 51 981 29 070 – – Indirect taxation per income statement 84 947 38 348 16 990 (15 771) Net income before taxation 1 065 529 773 608 223 657 333 033 Less: Share of associate companies’ attributable income (1 529) (6 778) – – Indirect taxation: Value-added tax (51 981) (29 070) – – 1 012 019 737 760 223 657 333 033 % % % % Tax rate reconciliation Taxation charge for the year as a percentage of profit before taxation 31,0 30,9 – 0,3 Dividend income (0,5) 0,1 29,4 63,0 Capital items (0,8) 0,1 1,4 (0,2) Other disallowable expense (0,3) (1,6) (0,8) (33,1) Other 0,6 0,5 – – Standard rate of South African taxation 30,0 30,0 30,0 30,0 Estimated tax losses amounting to R126 million are available for set-off against future taxable earnings. The losses have been fully recognised as deferred tax assets.
117 Group 2003 2002 R000 R000 25. RECONCILIATION BETWEEN EARNINGS AND HEADLINE EARNINGS PER SHARE Net income attributable to ordinary shareholders Adjustments: 659 902 498 866 – Net goodwill amortised 17 691 12 839 – Other capital items 2 466 (1 063) Headline earnings 680 059 510 642 Weighted number of shares 484 398 488 939 Fully diluted weighted number of shares 486 816 488 939 Earnings per share (cents) 136,2 102,0 Headline earnings per share (cents) 140,4 104,4 Fully diluted earnings per share (cents) 135,6 102,0 Fully diluted headline earnings per share (cents) 139,7 104,4 Earnings per share is calculated by dividing the net profit attributable to shareholders by the weighted average number of ordinary shares in issue during the year. 26. DIVIDENDS Final dividend number 4 of 18 cents per ordinary share (2002: 15 cents) 88 177 74 574 Interim dividend number 5 of 25 cents per ordinary share (2002: 12 cents) 117 889 57 453 Total dividend paid during the year 206 066 132 027 Interim dividend number 5 of 25 cents per ordinary share (2002: 12 cents) 117 889 57 453 Final dividend number 6 of 31 cents per ordinary share (2002: 18 cents) 147 005 88 177 Special dividend number 1 of 100 cents per ordinary share 474 210 – Total dividend relating to income for the year 739 104 145 630 Final dividend number 6 of 31 cents and special dividend 1 of 100 cents per ordinary share was approved by the board on 14 November 2003. No provision has been made for these dividends and their related STC in the financial statements for the year ended 30 September 2003. African Bank Investments Limited
Page 1 and 2:
African Bank Investments Limited AN
Page 3 and 4:
2,5 2,0 1,5 1,0 0,5 0 JSE statistic
Page 5 and 6:
Five-year history Four-year compoun
Page 7 and 8:
Features 35 30 25 20 15 10 5 0 Head
Page 9 and 10:
Focus and strategy The focus of the
Page 11 and 12:
Profile African Bank Investments Li
Page 13 and 14:
1994 Formation of investment trust
Page 15 and 16:
Performance against key objectives
Page 17 and 18:
Short to medium-term objectives OBJ
Page 19 and 20:
African Bank Investments Limited We
Page 21 and 22:
Letter to stakeholders ABIL believe
Page 23 and 24:
Incwadi eya kwabanezabelo iqhutshiw
Page 25 and 26:
Page 27 and 28:
Page 29 and 30:
Page 31 and 32:
Page 33 and 34:
Page 35 and 36:
Currency adjusted group balance she
Page 37 and 38:
Management discussion Overview Key
Page 39 and 40:
12 months ended 12 months ended 30
Page 41 and 42:
Capital adequacy model Non-performi
Page 43 and 44:
8 000 7 000 6 000 5 000 4 000 3 000
Page 45 and 46:
Sales analysis - number and average
Page 47 and 48:
excluding the Saambou PLB acquisiti
Page 49 and 50:
The improved credit conditions are
Page 51 and 52:
ook and the written-off book. To th
Page 53 and 54:
Statement of average balances Weigh
Page 55 and 56:
Divisional reports Operationally, A
Page 57 and 58:
collection strike rates, which has
Page 59 and 60:
ABIL also expanded its portfolio to
Page 61 and 62:
Collections business unit. Its most
Page 63 and 64:
Issue arising Corrective action req
Page 65 and 66:
Skills and experience of the board
Page 67 and 68:
Corporate governance continued regu
Page 69 and 70:
from the committee responsible for
Page 71 and 72:
that the risk policies and strategi
Page 73:
Table 1: Remuneration and fees Serv
Page 76 and 77:
Risk review ABIL views risk as an i
Page 79 and 80:
Risk review continued Undesirable r
Page 81 and 82:
Top ten risks Mitigating factors Ri
Page 83 and 84: Credit risk African Bank Retail Cre
Page 85 and 86: on a regular basis to ensure proper
Page 87 and 88: Social commitment Given the nature
Page 89 and 90: Embarking on a journey The process
Page 91 and 92: The progress The corporate social c
Page 93 and 94: Shareholders’ information Number
Page 95 and 96: agreements, to ensure that the mate
Page 97 and 98: The interest rate charged is determ
Page 99 and 100: Continued effort and focus will go
Page 101 and 102: services of the best employees. The
Page 103 and 104: The African Bank Foundation accepts
Page 105 and 106: Index to global reporting initiativ
Page 107 and 108: Directors’ responsibility The dir
Page 109 and 110: Directors’ report 30 September 20
Page 111 and 112: INTEREST OF THE DIRECTORS IN THE SH
Page 113 and 114: n4 The strike prices of the share o
Page 115 and 116: Income statement for the year ended
Page 117 and 118: Cash flow statement for the year en
Page 119 and 120: Equity accounted income, which is i
Page 121 and 122: 1.9 Revenue recognition Interest in
Page 123 and 124: Group Company 2003 2002 2003 2002 R
Page 129 and 130: 111 Group 2003 2002 R000 R000 12. L
Page 133: Group Company 2003 2002 2003 2002 R
Page 139 and 140: One to Four to Beyond Non-interest
Page 141 and 142: One to Four to Beyond Up to one thr
Page 143 and 144: 125 Group 2003 2002 R000 R000 37. O
Page 145 and 146: Appendix B Investments in associate
Page 147 and 148: Appendix D Segmental advances and p
Page 149 and 150: Appendix F Group structure and prof
Page 151 and 152: 3.4.4 ensure that a comprehensive s
Page 153 and 154: 7.4.3 All directors are required to
Page 155 and 156: 6.3 any general payment shall be ma
Page 157 and 158: 13.6 Any repurchases shall comply w
Page 159 and 160: DIRECTORS’ CURRICULUM VITAES Anto
Page 161 and 162: 6. Isinqumo esejwayelekile esinguno
Page 163 and 164: 12.9.1 kuyokwenziwa ngokulandela uM
Page 165 and 166: 16. Ukuvota nezithunywa Bonke abani
Page 167 and 168: Form of proxy AFRICAN BANK INVESTME
Page 169 and 170: Ifomu yokuqoka isithunywa esizokume
Page 171 and 172: Members of the ABIL board ASHLEY SE
Page 173 and 174: RAMANI NAIDOO (41) BA LLB Non-execu
Page 175 and 176: Corporate information COMPANY REGIS
Page 177 and 178: GRAPHICOR 30006
show all

Download - African Bank

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?