Value-added statement
The value-added statement shows the wealth the company has been able to create through manufacturing, trading and investment and its subsequent distributions to shareholders and reinvestment in the business.
During the 2014 financial year, wealth of R4 695 million was created, which is 11% more than in 2013. Of this amount, R3 593 million was distributed to employees, providers of capital and to governments. Of the wealth created, 51% was paid to employees.
The balance of the wealth created was retained and reinvested in the company for the replacement of assets and the development of operations.
| March 2014 Rm |
Restated March 2013 Rm |
|
| Wealth created | ||
| Revenue | 13 190 | 10 981 |
| Dividend income | 5 | 2 |
| Paid to growers for cane purchases | (3 994) | (3 386) |
| Manufacturing costs | (4 506) | (3 365) |
| 4 695 | 4 232 | |
| Wealth distributed | ||
| To employees as salaries, wages and other benefits | 2 373 | 1 990 |
| To lenders of capital as interest | 336 | 295 |
| To shareholders as distributions | 557 | 458 |
| To governments as taxation | 327 | 337 |
| 3 593 | 3 080 | |
| Wealth reinvested | ||
| Retained profits in holding and subsidiary companies | 562 | 640 |
| Depreciation | 309 | 258 |
| Deferred taxation | 231 | 254 |
| 4 695 | 4 232 | |
| Analysis of taxes paid to and collected on behalf of governments | ||
| Central and local governments | ||
| Current taxation (including secondary tax on companies) | 256 | 252 |
| Rates and taxes paid to local authorities | 7 | 5 |
| Customs duties, import surcharges and excise taxes | 64 | 80 |
| Net contribution to central and local governments | 327 | 337 |
| The above amount contributed excludes the following: | ||
| Employees’ taxation deducted from remuneration paid | 293 | 283 |
| Net VAT amount collected on behalf of governments | 206 | 232 |
| Withholding taxation | 58 | 49 |
| 557 | 564 |
|
2014 |
2013 |
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