Notes to the annual financial statements

FOR THE YEAR ENDED 31 MARCH 2010

« Note 28

Note 30 »

29.	Equity adjustment
		2010  R million	2009  R million
	Share of after-tax profit of associated companies and joint ventures (continuing operations)
	Profit before taking into account impairments, non-recurring and capital items	3 952	3 208
	Net impairment of investments, assets and goodwill	(118)	(253)
	Profit on the sale of investments	41	360
	Other non-recurring and capital items	(46)	(11)
	Profit before tax and non-controlling interest	3 829	3 304
	Taxation	(981)	(809)
	Non-controlling interest	(229)	(106)
	Continuing operations	2 619	2 389
	Discontinued operations	–	2 417
	Share of net attributable profit of associated companies and joint ventures – per income statement	2 619	4 806
	Dividends received from associated companies and joint ventures	(1 222)	(1 528)
	Share of net profit retained by associated companies and joint ventures	1 397	3 278
	Exchange rate differences on translation from average rates to year-end rates	5	59
	Equity adjustment transferred to non-distributable reserves
	(Refer to statements of changes in equity)	1 402	3 337
	Portion of the share of net attributable profit of associated companies and joint ventures,
	that has been accounted for from unaudited interim reports and management accounts.
	The results of these associated companies and joint ventures will be audited in later financial
	periods that coincide with their financial year-ends.	1 219	1 291
	Contingent liabilities of associated companies and joint ventures
	Guarantees to third parties – Performance guarantees, suretyships and letters of credit of various
	associated companies and joint ventures	190	170
	Contingent tax liabilities	23	11

Claims – There are a number of existing and potential legal claims against various associated companies, the outcome of which cannot be foreseen, but are not regarded as material individually or on a group basis.