Telkom AR front.qxp

9. DISCONTINUED OPERATIONS AND DISPOSAL GROUPS HELD
FOR SALE (continued)
9.2 Disposal groups held for sale (continued)
9.2.2 Swiftnet (Proprietary) Limited
In February 2009, Telkom’s Board of directors took a decision to
dispose of its 100% investment in Swiftnet (Proprietary) Limited.
The investment is classified as held for sale.
Telkom Annual Report 2009 167
Notes to the consolidated annual financial statements (continued)
for the three years ended March 31, 2009
2007 2008 2009
Rm Rm Rm
Analysis of the results of discontinued operations:
Revenue* 103 98 97
Expenses* 64 79 82
Profit before taxation of discontinued operations 39 19 15
Taxation 10 3 (4)
Profit after taxation of discontinued operations 29 16 19
The major classes of assets and liabilities of the business
classified as a disposal group:
Assets 72
Property, plant and equipment and intangible assets 24
Income taxation receivable 2
Trade and other receivables 18
Cash and cash equivalents 28
Liabilities 15
Provisions 1
Trade and other payables 10
Current portion of provisions 4
The net cash flows attributable to the operating, investing and financing
activities of the disposal group:
Operating cash flows 43 22 31
Investing cash flows (15) (11) (33)
Financing cash flows (23) – 10
Total cash inflow 5 11 8
* Revenue comprises operating revenue, other income and investment income. Expenses comprises operating expenses and finance charges.