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Integrated Report 2016
ANNUAL FINANCIAL STATEMENTS
(continued)
SIX
THREE
ONE
FOUR
TWO
13. OTHER FINANCIAL ASSETS
(continued)
13.2 INVESTMENT
Group Risk Holdings Proprietary Limited
Balance at beginning of year
2 915
2 764
Disposal of shares
–
(345)
Revaluation of investment through other comprehensive income
(700)
496
2 215
2 915
74 310
91 106
14. INVESTMENT IN JOINT VENTURES
The Group has a 49.9% share in Adcock Ingram Limited (India) and a 50% share in National Renal Care
Proprietary Limited. The Group's interest in Adcock Ingram Limited (India) and National Renal Care
Proprietary Limited is accounted for using the equity method in the consolidated financial statements
and the carrying value of the investments is set out below.
Adcock Ingram Limited (India)
230 955
171 787
National Renal Care Proprietary Limited
123 184
107 348
354 139
279 135
Refer to Annexure F for further details.
15. INVENTORIES
Raw materials
317 876
351 849
Work-in-progress
24 756
33 265
Finished goods
824 373
822 467
Inventory value, net of provisions
1 167 005
1 207 581
Inventories written down/(reversed) and recognised as an expense/(income) in profit or loss:
Cost of sales
63 986
92 045
Non-trading expenses
–
(8 375)
63 986
83 670
Continuing operations
63 986
83 670
Discontinued operations (note 2)
4 616
5 755
68 602
89 425
Inventories are written off if aged, damaged, stolen or the likelihood of being sold is remote.
Inventories are written down to the lower of cost and net realisable value.
2016
R’000
2015
R’000