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Integrated Report 2016
ANNUAL FINANCIAL STATEMENTS
(continued)
NOTES TO THE COMPANY ANNUAL FINANCIAL
STATEMENTS
2016
R’000
2015
R’000
A.
REVENUE
Finance income
49 490
65 247
Dividend income
304 656
–
354 146
65 247
B.
FINANCE INCOME AND FINANCE COSTS
B.1 FINANCE INCOME
Bank
22 416
43 266
Inter-Group interest
27 074
21 981
49 490
65 247
B.2 FINANCE COSTS
Borrowings
41 444
57 760
Receiver of Revenue
–
18
41 444
57 778
C.
TAXATION
South African taxation
Current income tax
– current year
2 154
2 022
– prior year under provision
–
95
2 154
2 117
Reconciliation of the taxation rate:
%
%
Effective rate
0.7
29.4
Adjusted for:
Exempt income
29.3
–
Non-deductible expenses
(2.0)
(0.1)
Prior year under provision
–
(1.3)
South African normal tax rate
28.0
28.0
2016
effective
holding %
2015
effective
holding %
2016
R’000
2015
R’000
D.
INVESTMENTS
Adcock Ingram Limited
100
100
2 130 587
2 130 587
Adcock Ingram Healthcare Proprietary Limited
100
100
815 390
815 390
Adcock Ingram Intellectual Property Proprietary Limited
100
100
104 000
104 000
Adcock Ingram Critical Care Proprietary Limited
100
100
284 979
284 979
Adcock Ingram Limited India
49,9
49,9
31 930
31 930
Adcock Ingram International Proprietary Limited
100
100
*
*
Thembalami Pharmaceuticals Proprietary Limited
50
50
*
*
Group Risk Holdings Proprietary Limited
(1)
6
6
2 215
2 915
Tender Loving Care Hygienic, Cosmetic and Baby Products
Proprietary Limited
100
100
*
*
3 369 101
3 369 801
* Less than R1 000
(1)
Group Risk Holdings (Pty) Limited
Balance at 1 July
2 915
2 764
Disposal
–
(345)
Revaluation of investment to fair value
(700)
496
2 215
2 915