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 distribution to shareholders and reinvestment in the business.
During the 2015 financial year, wealth of R4 657 million was created, which is in line with the 2014 financial year. Of this amount, R3 742 million was distributed to employees, providers of capital and to governments. Of the wealth created, 55% 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 2015 Rm |
March 2014 Rm |
|
| Wealth created | ||
| Revenue | 13 267 | 13 190 |
| Dividend income | 3 | 5 |
| Paid to growers for cane purchases | (3 748) | (3 994) |
| Manufacturing costs | (4 865) | (4 506) |
| 4 657 | 4 695 | |
| Wealth distributed | ||
| To employees as salaries, wages and other benefits | 2 565 | 2 373 |
| To lenders of capital as interest | 356 | 336 |
| To shareholders as distributions | 576 | 557 |
| To governments as taxation | 245 | 327 |
| 3 742 | 3 593 | |
| Wealth reinvested | ||
| Retained profits in holding and subsidiary companies | 368 | 562 |
| Depreciation | 337 | 309 |
| Deferred taxation | 210 | 231 |
| 4 657 | 4 695 | |
| Analysis of taxes paid to and collected on behalf of governments: | ||
| Central and local governments | ||
| Current taxation (including withholding tax) | 178 | 256 |
| Rates and taxes paid to local authorities | 7 | 7 |
| Customs duties, import surcharges and excise taxes | 60 | 64 |
| Net contribution to central and local governments | 245 | 327 |
| The above amount contributed excludes the following: | ||
| Employees’ taxation deducted from remuneration paid | 327 | 293 |
| Value added tax collected on behalf of governments | 265 | 206 |
| Withholding taxation collected from third-party suppliers | 128 | 58 |
| 720 | 557 |
| (Rm) | 2015 | 2014 |
| Retained profits | 368 | 562 |
| Deferred taxation | 210 | 231 |
| Depreciation | 337 | 309 |
| Employee costs | 2 565 | 2 373 |
| Finance costs | 356 | 336 |
| Distributions | 576 | 557 |
| Taxation | 245 | 327 |