enl commercial limited annual report 2011 - Investing In Africa

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Notes to the Financial Statements Year ended June 30, 2011 24 DIVIDENDS 2011 2010 Rs’000 Rs’000 Amounts recognised as distributions to equityholders during the year: Interim dividend for the year ended June 30, 2011 of Re. 0.40 (2010:Re. 0.40) per share 11,669 11,669 Final dividend for the year ended June 30, 2011 of Re. 0.50 (2010: Re.0.40) per share 14,586 11,669 The final proposed dividend was paid on July 25, 2011. 26,255 23,338 25 PROFIT BEFORE TAXATION (a) THE GROUP 2011 2010 Investment & Investment & management Commercial Industry Total management Commercial Industry Total Rs’000 Rs’000 Rs’000 Rs’000 Rs’000 Rs’000 Rs’000 Rs’000 Profit before taxation is arrived at after: crediting: Investment income - official market 5,203 - - 5,203 5,479 - - 5,479 - DEM Listed 10,630 - - 10,630 13,868 - - 13,868 - unquoted 244 - - 244 720 - - 720 Interest receivable - 835 239 1,074 1,033 990 - 2,023 Profit on disposal of property, plant and equipment - 6,151 1,055 7,206 - 1,594 263 1,857 Profit on sale of investments 5,131 - 899 6,030 2,159 - - 2,159 Fair value gain on held-for-trading securities (note 14) - - - - 1,490 - - 1,490 and charging: Cost of inventories recognised as expense - 1,252,245 969,383 2,221,628 - 1,049,176 40,564 1,089,740 Depreciation on property, plant and equipment (note 5) - owned assets 432 30,488 16,502 47,422 415 25,070 1,521 27,006 - leased assets under finance lease - 11,033 14,232 25,265 - 13,153 1,213 14,366 Amortisation of intangible assets (note 6) - 3,822 1,082 4,904 - 3,342 10 3,352 Property, plant and equipment written off - 51 - 51 - 716 - 716 Employee benefit expense (note 26) - 108,853 42,942 151,795 - 100,609 14,329 114,938 (b) THE COMPANY 2011 2010 Rs’000 Rs’000 Profit before taxation is arrived at after crediting: Investment income - official market 5,203 6,824 - DEM quoted 10,630 12,522 - unquoted 33,593 23,619 Interest receivable 2,445 2,157 Profit on sale of investments 7,623 2,159 Fair value gain on held-for-trading securities - 1,490 102 ENL Commercial Limited Annual Report 2011
Notes to the Financial Statements Year ended June 30, 2011 26 EMPLOYEE BENEFIT EXPENSE THE GROUP THE COMPANY 2011 2010 2011 2010 Rs’000 Rs’000 Rs’000 Rs’000 Wages and salaries 133,479 99,087 - - Social security and other costs 8,279 10,611 - - Pension costs - defined benefit plans 4,142 4,144 - - - other post retirement benefits 5,895 1,096 - - The company has no employees. 151,795 114,938 - - 27 FINANCE COSTS THE GROUP THE COMPANY 2011 2010 2011 2010 Rs’000 Rs’000 Rs’000 Rs’000 Interest expense: - Bank overdrafts 20,976 5,700 1,678 522 - Bank and other loans repayable by instalments 47,621 21,975 15,594 9,824 - Other loans not repayable by instalments - 1,648 - 1,438 - Finance leases 5,492 1,030 - - - Debentures 500 - - - Net foreign exchange transaction gains (573) (1,308) - - 74,016 29,045 17,272 11,784 28 OTHER COMPREHENSIVE INCOME THE GROUP Fair value Revaluation Other reserves surplus reserves Total Rs’000 Rs’000 Rs’000 Rs’000 2011 Fair value movement on available for sale financial assets (163,696) - - (163,696) Surplus on revaluation of properties net of deferred tax - 55,882 - 55,882 Share of results of associates - - 2,689 2,689 (163,696) 55,882 2,689 (105,125) 2010 Fair value movement on available for sale financial assets (36,999) - - (36,999) Share of results of associates - - 5,349 5,349 (36,999) - 5,349 (31,650) ENL Commercial Limited Annual Report 2011 103
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ENL COMMERCIAL LIMITED ANNUAL REPOR
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Dear Shareholder, The Board of Dire
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ENL Commercial Limited Annual Repor
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Portfolio of operating companies of
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Dividend per Share (Rs) 0.80 0.80 0
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ENL Commercial Limited Annual Repor
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Directors’ Report (continued) Ass
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AXESS LIMITED ENL Commercial Limite
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CHARABIA LTD ENL Commercial Limited
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COGIR LIMITÉE ENL Commercial Limit
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GREWALS (MAURITIUS) LIMITED ENL Com
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PACK PLASTICS LIMITED ENL Commercia
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Statement of Directors’ Responsib
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PLASTINAX AUSTRAL LIMITÉE ENL Comm
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ACTIVITIES FRCI specialises in info
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Corporate Information June 30, 2011
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Corporate Governance Report (contin
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Share Analysis Distribution of Shar
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