4.0 - Imperial

More documents

Recommendations

Info

Notes to the group annual financial statements continued... for the year ended 30 June 2009 16. Discontinued operations Total dis- Total continued discontinued operations operations Tourvest Tourvest 2009 2008 2009 2008 Rm Rm Rm Rm The results of the discontinued businesses for the year: Revenue 2 064 12 456 466 2 026 Operating profit 133 1 172 10 288 Impairment loss on share scheme loans (84) Profit before net financing cost 133 1 088 10 288 Net finance cost (99) (660) (7) (36) (Loss) income from associates and joint ventures (20) 56 Profit before tax 14 484 3 252 Income tax (reversal) expense (10) 135 86 Trading profit after tax 24 349 3 166 Fair value profit (loss) on discontinuation 484 (2 269) 529 2 – Gross amount 571 (2 605) 575 2 – Taxation (87) 336 (46) Net profit (loss) for the year 508 (1 920) 532 168 Minority interest (1) (195) (1) (76) Attributable to shareholders of Imperial Holdings Limited 507 (2 115) 531 92 The major classes of assets and liabilities of the discontinued operations classified as held for sale at 30 June 2009 are as follows: Assets Intangible assets 460 460 Investments in associates and joint ventures 10 284 Property, plant and equipment 21 402 275 Leasing assets 258 755 Inventories 165 1 146 243 Trade and other receivables 312 1 067 433 Operating assets 766 4 114 1 411 Deferred tax asset 16 6 Other non-current financial assets 160 31 Cash resources 8 289 Assets classified as held for sale 950 4 440 Liabilities Deferred tax liability 59 Interest-bearing borrowings 15 329 288 Provisions for liabilities and other charges 223 500 22 Payables 162 1 528 576 Liabilities directly associated with assets classified as held for sale 459 2 357 886 Net assets directly associated with discontinued operations 491 2 083 Minority interest 246 Attributable to shareholders of Imperial Holdings Limited 491 1 837 90 Imperial holdings limited Annual Report 2009
Commer- Leasing Leasing cial Commercial and capital and capital Autoparts Autoparts vehicles vehicles Aviation Aviation equipment equipment (UK) (UK) 2009 2008 2009 2008 2009 2008 2009 2008 Rm Rm Rm Rm Rm Rm Rm Rm Financial Statements 1 005 2 017 593 1 284 6 193 936 66 (39) 57 (27) 940 10 (3) (40) (41) 66 (42) 57 (67) 899 10 (28) (97) (64) (128) (405) 6 4 (20) 52 38 (135) (27) (143) 494 16 10 (29) (20) (72) 145 5 28 (106) (7) (71) 349 11 (701) (45) (1 276) (294) (972) (4) (1 341) (294) 271 (41) 65 28 (807) (52) (1 347) 349 (283) (119) 28 (807) (52) (1 347) 230 (283) 10 10 274 14 80 7 47 258 755 155 809 10 94 68 451 244 183 247 1 350 519 1 353 59 33 15 8 116 466 107 12 93 432 69 520 Tourism Tourism Investment Corporation Limited (Tourvest) is a company previously listed on the JSE Limited in which the group held a 66% interest. The directors were of the opinion that it is not a core business and our interest has been sold. Commercial vehicles Commercial Vehicle Holdings relinquished its distribution rights for International and DAF trucks due to our conclusion that this business model led to mispricing and overstocking. This led to the decision to discontinue this line of business. Aviation This business including Safair, Safair Lease Finance, Naturelink and the Air Contractors Group was considered by the board as capital-intensive and not giving the required returns. Air Contractors and the Safair Group has been sold. Leasing and Capital Equipment This capital-intensive division was unbundled to shareholders in May 2008. 209 931 250 540 Imperial holdings limited Annual Report 2009 91
Page 2 and 3:
company Overview Chairman’s repor
Page 4 and 5:
our past Our strengths in the marke
Page 6 and 7:
PROFILE Imperial is a diversified m
Page 8 and 9:
for more information please visit w
Page 10 and 11:
Directors and executive committee 2
Page 12 and 13:
Chairman’S report paying dividend
Page 14 and 15:
Chief exeCutive offiCer’S report
Page 16 and 17:
Chief exeCutive offiCer’S report
Page 18 and 19:
16 16 imperial Imperial holdings li
Page 20 and 21:
Divisional review > logistics conti
Page 22 and 23:
Divisional review > Car rental and
Page 24 and 25:
Divisional review > distributorship
Page 26 and 27:
Divisional review > vehicle dealers
Page 28 and 29:
Divisional review > insurance By me
Page 30 and 31:
financial director’s report Stron
Page 32 and 33:
financial director’s report conti
Page 34 and 35:
10-year review profit before tax an
Page 36 and 37:
10-year review continued... Headlin
Page 38 and 39:
shareholders’ information Distrib
Page 40 and 41:
declaration of dividends Preference
Page 42 and 43: for more information please visit w
Page 44 and 45: for more information please visit w
Page 46 and 47: Corporate governanCE report continu
Page 52 and 53: Directors’ responsibility for fin
Page 54 and 55: DIrectors’ report for the year en
Page 56 and 57: emuneration report Role of the remu
Page 58 and 59: emuneration report continued... Dir
Page 60 and 61: emuneration report continued... Loa
Page 62 and 63: group balance sheet at 30 June 2009
Page 64 and 65: Group statement of changes in equit
Page 66 and 67: segment information - balance sheet
Page 68 and 69: segment information - income statem
Page 70 and 71: 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 130 and 131: 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 142 and 143:
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.
show all

4.0 - Imperial

Create successful ePaper yourself

Delete template?

Save as template?