Corporate Governance Report - The United Basalt Products Ltd
Corporate Governance Report - The United Basalt Products Ltd
Corporate Governance Report - The United Basalt Products Ltd
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Value Added<br />
Statement<br />
Year ended June 30,<br />
2008 2007<br />
Rs’000 Rs’000<br />
Sale of goods and services 1,718,721 1,404,405<br />
Less: Payment to suppliers for materials and services (1,102,432) (973,484)<br />
Value added 616,289 430,921<br />
Other operating income 64,220 62,192<br />
Total wealth created 680,509 493,113<br />
Distributed as follows:<br />
Employees<br />
Salaries, wages and other benefits 238,722 221,490<br />
Providers of capital<br />
Dividends 44,183 33,138<br />
Interest on borrowings 123,549 101,079<br />
Dividends to minority shareholders 2,271 1,271<br />
170,003 135,488<br />
Government and parastatal corporations<br />
Income tax (current and deferred) 23,607 15,823<br />
Environment protection fee 7,304 6,600<br />
Licences and permits 2,726 1,562<br />
33,637 23,985<br />
Reinvested in the Group to maintain and develop operations<br />
Depreciation and amortisation 123,874 111,288<br />
Retained profit 114,273 862<br />
238,147 112,150<br />
Total wealth distributed and retained 680,509 493,113<br />
THE UNITED BASALT PRODUCTS LTD<br />
Subsidiaries as at June 30, 2008<br />
* Via UBP International <strong>Ltd</strong><br />
100 %<br />
100 %<br />
100 %<br />
100 %<br />
76.5%<br />
100 %<br />
100 %<br />
100 %<br />
100 %<br />
100 %<br />
Marbella Espace Maison Ltée<br />
Compagnie de Gros Cailloux Ltée<br />
Société d’Investissement Rodriguais<br />
UBP International <strong>Ltd</strong><br />
Ste Marie Crushing Plant <strong>Ltd</strong><br />
100 % Société des Petits Cailloux<br />
Marbella <strong>Ltd</strong><br />
Land Reclamation <strong>Ltd</strong><br />
Stone & Bricks Co <strong>Ltd</strong><br />
<strong>The</strong> Stone Masters Co <strong>Ltd</strong><br />
Pricom <strong>Ltd</strong><br />
Associates as at June 30, 2008<br />
Operational<br />
Dormant<br />
THE UNITED BASALT PRODUCTS LTD<br />
Group Structure<br />
June 30, 2008<br />
75.9 % Welcome Industries <strong>Ltd</strong><br />
100 % UBP Madagascar<br />
71.7% <strong>United</strong> Granite Product (Pvt) <strong>Ltd</strong><br />
100 % DHK Metal Crusher (Pvt) <strong>Ltd</strong><br />
100 % Sheffield Trading (Pvt) <strong>Ltd</strong><br />
46% Produits <strong>Basalt</strong>iques du Nord Ltée<br />
34% Prochimad Mines et Carrières*<br />
30% Pre-Mixed Concrete <strong>Ltd</strong><br />
25% Sud Concassage Ltée<br />
25% Cement Transport <strong>Ltd</strong><br />
20% Compagnie d’Exploitation Agricole Ltée<br />
30% Compagnie des Transport Réunis<br />
6 Annual <strong>Report</strong> Annual <strong>Report</strong><br />
7
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