Adcock Ingram Integrated Report 2018

125 ADCOCK INGRAM  Integrated Report 2018 Annexure F – Interest in joint ventures and associate continued 2. NATIONAL RENAL CARE PROPRIETARY LIMITED STATEMENT OF FINANCIAL POSITION 2018 2017 R’000 R’000 Property, plant and equipment 167 897 167 435 Intangible assets 106 040 62 759 Loans receivable 34 988 32 837 Investment in associate – 4 152 Deferred tax 24 880 21 177 Non-current assets 333 805 288 360 Inventories 24 396 22 954 Trade and other receivables 103 532 92 424 Cash and cash equivalents 155 980 93 817 Current assets 283 908 209 195 Total assets 617 713 497 555 Long-term borrowings 3 510 2 408 Non-current liabilities 3 510 2 408 Trade and other payables 111 127 109 512 Short-term borrowings 255 – Provisions 16 165 13 815 Taxation payable 8 166 5 663 Current liabilities 135 713 128 990 Total liabilities 139 223 131 398 Non-controlling interests 90 500 74 168 Equity 387 990 291 989 Proportion of Group's ownership 50.0% 50.0% Carrying amount of the investment 193 995 145 994 STATEMENT OF COMPREHENSIVE INCOME Turnover 1 037 440 909 176 Cost of sales (776 342) (699 773) Gross profit 261 098 209 403 Selling, distribution and marketing expenses (124 403) (112 178) Fixed and administrative expenses (2 984) (3 476) Trading profit 133 711 93 749 Non-trading income 25 480 – Fair value gain on revaluation of investment in associate 37 760 – Impairment of loans receivable (refer to annexure G) (1 655) – Impairment of goodwill (refer to annexure G) (10 625) – Operating profit 159 191 93 749 Finance income 9 040 9 146 Finance costs – (508) Equity accounted earnings 830 3 939 Profit before taxation 169 061 106 326 Taxation (39 471) (28 441) Profit for the year 129 590 77 885 Less: Non-controlling interests (13 587) (12 265) Profit attributable to owners of the parent 116 003 65 620 Group's share of profit for the year 58 001 32 810