AFRICAN DAWN ANNUAL REPORT 2018 Notes to the Financial Statements continued Annual Financial Statements For the year ended 28 February 2018 92 2017 Group Investment advisory and investment management R’000 Micro finance R’000 Rentals of properties in possession R’000 Other R’000 Total R’000 Revenue external 3 21,361 - (4) 21,360 Cost of sales 42 - - - 42 Other income - 788 - 984 1,772 Investment income - 29 - 1 30 Finance costs - 1,434 - 1,126 2,560 Operating expenses 62 21,504 - 7,911 29,477 Impairment trade and other receivables - 1,344 - 130 1,474 Bad debts actually written off - 2,641 - - 2,641 Deemed interest expense - - - 585 585 Depreciation and amortisation 9 527 - 59 595 Reduction of liability to Nexus liquidator - 2,162 - - 2,162 Profit/(loss) before taxation (101) 1,402 - (8,641) (7,340) Taxation 26 - - - 26 Profit/(loss) after taxation (75) 1,402 - (8,641) (7,314) Discontinued operations (5,285) - 411 - (4,874) Total comprehensive (5,360) 1,402 411 (8,641) (12,188) Segment total assets 1,766 23,665 16,902 16,452 58,785 Segment total liabilities 1,581 11,692 8,334 26,865 48,472 Intangible assets acquired 30 274 - - 304 Goodwill - - - 4,679 4,679 Property, plant and equipment acquired - 44 - - 44 41. Guarantees The Company has provided a guarantee to National Housing Finance Corporation for a loan facility of R25 million provided to Elite. The outstanding balance on the loan as at 28 February 2018 was R0,128million (2017 R1,4million). In terms of the guarantee Afdawn will assume responsibility for the loan if Elite defaults on the loan. 42. Loss per share Basic loss per share Basic loss per share are calculated by dividing the loss attributable to equity holders of the company by the weighted average number of ordinary shares in issue during the year. Basic and diluted loss per share 2018 2017 C C From continued operations (c per share) (5.9) (33.4) From discontinued operations (c per share) (6.2) (22.2) (12.1) (55.6)
AFRICAN DAWN 2018 Annual Report
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