Pro forma comparative balance sheet
The pro forma 31 December 2015 balance sheet is presented for illustrative purposes only and has been reproduced, without alteration, from the Circular to Bidvest shareholders dated 14 April 2016. The aforementioned Circular provides a full and detailed reconciliation from the previously reported unaudited balance sheet of 31 December 2015 to the pro forma balance sheet presented below.
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| R’000 | ||||||||
| 2016 Unaudited |
2015 Unaudited Pro forma |
|||||||
| ASSETS | ||||||||
| Non-current assets | 23 980 597 | 22 333 478 | ||||||
| Property, plant and equipment | 10 247 335 | 9 890 267 | ||||||
| Intangible assets | 972 036 | 852 025 | ||||||
| Goodwill | 3 527 268 | 2 730 002 | ||||||
| Deferred taxation assets | 585 094 | 339 109 | ||||||
| Defined benefit pension surplus | 180 035 | 146 954 | ||||||
| Interest in associates | 4 687 124 | 4 682 809 | ||||||
| Investments | 2 827 975 | 2 803 916 | ||||||
| Banking and other advances | 953 730 | 888 397 | ||||||
| Current assets | 24 124 871 | 21 695 216 | ||||||
| Vehicle rental fleet | 1 331 662 | 1 262 758 | ||||||
| Inventories | 8 989 473 | 8 595 083 | ||||||
| Short-term portion of banking and other advances | 729 610 | 705 957 | ||||||
| Trade and other receivables | 9 507 719 | 9 002 287 | ||||||
| Cash and cash equivalents | 3 566 407 | 2 129 131 | ||||||
| Total assets | 48 105 468 | 44 028 694 | ||||||
| EQUITY AND LIABILITIES | ||||||||
| Capital and reserves | 20 975 140 | 20 018 581 | ||||||
| Attributable to shareholders of the Company | 19 641 236 | 18 810 640 | ||||||
| Non-controlling interest | 1 333 904 | 1 207 941 | ||||||
| Non-current liabilities | 7 333 237 | 7 591 648 | ||||||
| Deferred taxation liability | 751 293 | 570 563 | ||||||
| Life assurance fund | 23 971 | 25 861 | ||||||
| Long-term portion of borrowings | 6 133 248 | 6 534 140 | ||||||
| Post-retirement obligations | 78 880 | 95 104 | ||||||
| Puttable non-controlling interest liabilities | 50 741 | 25 793 | ||||||
| Long-term portion of provisions | 140 167 | 180 524 | ||||||
| Long-term portion of operating lease liabilities | 154 937 | 159 663 | ||||||
| Current liabilities | 19 797 091 | 16 418 465 | ||||||
| Trade and other payables | 9 536 312 | 9 488 055 | ||||||
| Short-term portion of provisions | 401 179 | 412 860 | ||||||
| Vendors for acquisition | 52 691 | 18 389 | ||||||
| Taxation | 78 711 | 45 598 | ||||||
| Amounts owed to bank depositors | 3 902 707 | 3 096 947 | ||||||
| Short-term portion of borrowings | 5 825 491 | 3 356 616 | ||||||
| Total equity and liabilities | 48 105 468 | 44 028 694 | ||||||
| Net tangible asset value per share (cents) | 4 539 | 4 608 | ||||||
| Net asset value per share (cents) | 5 888 | 5 692 | ||||||