INCOME STATEMENT
FOR THE YEAR ENDED 30 June 2020


R million  Notes  30 June   2020   30 June   2019  
CONTINUING OPERATIONS          
Revenue  14  54 732  56 968 
Inventory expenses     (32 291) (33 606)
Staff costs     (8 451) (8 576)
Depreciation     (1 682) (1 303)
Other net operating expenses     (10 763) (10 205)
Trading profit     1 545  3 278 
Dividend income     45  78 
Interest received     862  1 268 
Fair value adjustment on exchangeable bonds’ option     2  112 
Finance costs     (1 876) (1 477)
Net impairment of investments, assets and goodwill     (4 234) (7 218)
Loss allowances on loans     (290) (274)
Bargain purchase gain     278  – 
Profit on sale and dilution of investments     4 220  137 
Consolidated profit/(loss) before tax     552  (4 096)
Taxation     (452) (987)
Consolidated profit/(loss) after tax     100  (5 083)
Share of after-tax profit/(loss) of equity accounted investments  7  (2 272) 1 708 
Net loss for the year from continuing operations     (2 172) (3 375)
DISCONTINUED OPERATIONS(1)         
Profit for the year from discontinued operations     8 755  11 127 
Net profit for the year     6 583  7 752 
Attributable to:          
Equity holders     6 646  7 319 
Continuing operations     (2 109) (3 808)
Discontinued operations     8 755  11 127 
Non-controlling interest     (63) 433 
      6 583  7 752 
         
(1) On 31 March 2020 the investment in RMH was transferred from “investment – equity accounted” to “assets held for distribution” (refer to “Related party transactions”). Profit from discontinued operations include the equity accounted income of RMH for both financial years presented, as well as the profit realised on the RMH Unbundling. The prior year also includes the profit realised on the disposal of Unilever. the RMH Unbundling. The prior year also includes the profit realised on the disposal of Unilever.