AFRICAN DAWN ANNUAL REPORT 2017 Notes to the Financial Statements Annual Financial Statements For the year ended 28 February 2017 continued 69 24. Operating loss Operating loss for the year is stated after accounting for the following: Operating lease charges Group Group Company Company 2017 2016 2017 2016 R’000 R’000 R’000 R’000 Premises 2,341 2,608 - - Equipment 536 498 - 29 2,877 3,106 - 29 Loss on sale of property, plant and equipment 5 13 - 3 Impairment to properties in possession 971 3,284 - - Legal fees 864 1,686 443 1,073 Impairment of goodwill 3,397 - - - Reversal of liability in Nexus (refer to note 21) 2,162 - - - Amortisation on intangible assets 1,683 1,671 - - Depreciation on property, plant and equipment 282 394 59 54 Employee costs ^ 22,006 16,968 3,254 3,009 ^ Included in employee expenses are the following : - HBD Carry to Knife Vendors in terms of Knife Sales Agreement 3,350 - - HBD Carry to Knife Vendors in terms of Knife Settlement Agreement 3,350 - 25. Investment income Interest revenue Group Group Company Company 2017 2016 2017 2016 R’000 R’000 R’000 R’000 Cash and equivalents 84 346 1 256 26. Deemed interest 2017 Group borrowings Amount Repayment Deemed interest Balance Sandown Capital Interest free portion loan (A) in note 15 3,333 - - 3,333 Sandown Capital Elite Two loan (B) in note 15 580 (580) - - 3,913 (580) - 3,333
AFRICAN DAWN 2017
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