Adcock Ingram Integrated Report 2018

ANNUAL FINANCIAL STATEMENTS 126 ADCOCK INGRAM  Integrated Report 2018 3. AYRTON DRUG MANUFACTURING LIMITED (GHANA) STATEMENT OF FINANCIAL POSITION 2018 2017 R’000 R’000 Property, plant and equipment 21 253 21 269 Intangible assets – 45 Deferred tax 604 – Non-current assets 21 857 21 314 Inventories 29 102 33 557 Trade and other receivables 46 842 34 005 Current assets 75 944 67 562 Total assets 97 801 88 876 Deferred tax – 459 Non-current liabilities – 459 Trade and other payables 17 070 12 270 Short-term borrowings – 7 730 Provisions 993 1 029 Bank overdraft 13 766 10 446 Taxation payable 2 325 1 036 Current liabilities 34 154 32 511 Total liabilities 34 154 32 970 Equity 63 647 55 906 Proportion of Group's ownership 25.1% 25.1% Group's share of net assets 15 975 14 032 Fair value adjustment (7 961) (7 961) Carrying amount of the investment 8 014 6 071 STATEMENT OF COMPREHENSIVE INCOME 12 months 7 months R’000 R’000 Turnover 102 895 60 880 Cost of sales (44 268) (28 115) Gross profit 58 627 32 765 Selling, distribution and marketing expenses (12 479) (6 867) Fixed and administrative expenses (27 618) (15 861) Operating profit 18 530 10 037 Finance costs (5 452) (1 986) Profit before taxation 13 078 8 051 Taxation (3 433) (1 884) Profit for the year 9 645 6 167 Group's share of profit for the year 2 421 1 549 Annexure F – Interest in joint ventures and associate continued