Value-added statement
for the year ended 30 June 2011
| 2011
R million % | 2010
R million % |
||||
|---|---|---|---|---|---|
Value added |
|||||
|
Net income of Group |
16,154 |
|
|
13,115 |
|
|
Investment income |
1,016 |
|
|
540 |
|
|
Finance costs |
(168) |
|
(14) |
|
|
|
Foreign exchange loss |
(14) |
|
|
(3) |
|
|
Acquisition costs |
(1,998) |
|
|
(1,842) |
|
|
Payments to suppliers of material and services |
(2,880) |
|
|
(2,220) |
|
|
Share of loss from associates |
(4) |
|
|
- |
|
|
Non-recurring transactions |
(374) |
|
|
- |
|
|
|
11,732 |
|
|
9,576 |
|
Value allocated |
(8,239) |
|
|
|
|
|
To employees |
|||||
|
Salaries, wages and other benefits |
2,823 |
24 |
|
2,255 |
23 |
|
To providers of capital |
447 |
4 |
|
373 |
4 |
|
Dividends paid to equity holders |
445 |
|
|
375 |
|
|
Minority shareholders |
2 |
|
|
(2) |
|
|
To government |
644 |
5 |
|
572 |
6 |
|
Normal taxation |
377 |
|
|
362 |
|
|
Value-added tax |
158 |
|
|
162 |
|
|
Capital gains tax |
52 |
|
|
1 |
|
|
Secondary tax on companies |
45 |
|
|
37 |
|
|
Other |
12 |
|
|
10 |
|
|
To policyholders |
6,170 |
53 |
|
4,462 |
47 |
|
Claims and policyholders' benefits |
4,640 |
|
|
1,745 |
|
|
Transfer from assets/liabilities arising from insurance contracts |
1,530 |
|
|
2,717 |
|
|
Retention for expansion and growth |
1,648 |
14 |
|
1,914 |
20 |
|
Retained income |
882 |
|
|
1,342 |
|
|
Depreciation and amortisation |
368 |
|
|
190 |
|
|
Deferred taxation |
398 |
|
|
382 |
|
|
|
11,732 |
100 |
| 9,576 |
100 |
