4.0 - Imperial

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Notes to the company annual financial statements continued... for the year ended 30 June 2009 9. Exceptional items 2009 2008 Profit on sale/unbundling of subsidiaries and businesses 58 65 Profit on the sale of Tourvest 637 Write-down of investments in subsidiaries, loans to subsidiaries and associates (1 444) (594) Rm Rm (750) (529) 10. Net financing cost Interest paid 52 51 Finance income (2) (1) 50 50 11. Taxation Taxation charge South African normal taxation – Current 1 – Prior year underprovision 63 2 Deferred – Tax rate adjustment (4) – Capital gains 24 Current capital gains 46 Secondary tax on companies 62 172 22 Reconciliation of tax rates % % Profit before taxation – effective rate (173,7) 8,3 Taxation effect of: – Secondary tax on companies 63,5 – Disallowable charges 425,4 (67,6) – Exempt income (396,8) 111,6 – Fair value adjustment on call option (32,7) – Capital gains 46,0 9,1 – Tax rate adjustment (1,5) – Prior year underprovision 63,7 0,8 28,0 28,0 12. Dividends and other distributions Refer to note 33 of the group annual financial statements. 128 <strong>Imperial</strong> holdings limited Annual Report 2009
2009 2008 Rm Rm Financial Statements 13. Contingent liabilities The company has contingent liabilities in respect of guarantees issued to bankers and others, on behalf of subsidiaries, for facilities in the normal course of business to the extent that they are used. The year-end utilisation of facilities were: 323 928 Claim from the South African Revenue Services relating to an offshore company. This claim has been resolved. 382 The company has guaranteed the obligations to investors in the commercial paper and corporate bond issues. 8 637 9 305 14. Cash generated by operations (Loss) profit before net financing costs (48) 314 Exceptional items 750 529 Fair value adjustment on call option 308 Working capital movements – Decrease (increase) in accounts receivable 3 (5) – Increase (decrease) in accounts payable 68 (23) 773 1 123 <strong>Imperial</strong> holdings limited Annual Report 2009 129
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company Overview Chairman’s repor
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our past Our strengths in the marke
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PROFILE Imperial is a diversified m
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for more information please visit w
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Directors and executive committee 2
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Chairman’S report paying dividend
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Chief exeCutive offiCer’S report
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Chief exeCutive offiCer’S report
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16 16 imperial Imperial holdings li
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Divisional review > logistics conti
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Divisional review > Car rental and
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Divisional review > distributorship
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Divisional review > vehicle dealers
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Divisional review > insurance By me
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financial director’s report Stron
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financial director’s report conti
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10-year review profit before tax an
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10-year review continued... Headlin
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shareholders’ information Distrib
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declaration of dividends Preference
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Corporate governanCE report continu
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Directors’ responsibility for fin
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DIrectors’ report for the year en
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emuneration report Role of the remu
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emuneration report continued... Dir
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emuneration report continued... Loa
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group balance sheet at 30 June 2009
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Group statement of changes in equit
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segment information - balance sheet
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segment information - income statem
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Notes to the group annual financial
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Page 80 and 81: Notes to the group annual financial
Page 124 and 125: company balance sheet at 30 June 20
Page 126 and 127: company statement of changes IN equ
Page 128 and 129: Notes to the company annual financi
Page 132 and 133: ANNEXURE A Interest in Principal Su
Page 134 and 135: ANNEXURE B Interest in principal as
Page 136 and 137: ANNEXURE C additional information o
Page 144 and 145: ANNEXURE D ANALYSIS of the group’
Page 146 and 147: ANNEXURE E summary of employment eq
Page 148 and 149: notice of annual general meeting co
Page 150 and 151: notice of annual general meeting co
Page 152 and 153: corporate information Directors Non
Page 154: NOTES to the form of proXY Notes 1.
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