Summarised operating segment report

for the six months ended 30 September 2019

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                      Southern Africa                       Spain    Total     
   Retail 
Rm
 
Other 
Rm
 
Total 
Rm
 
Retail 
Rm
 
Other 
Rm
 
Total 
Rm
 
group 
Rm
 
  
Group income for the period ended 30 September 2019                         
Revenue(i) 726  53  779  575  28  603  1 382    
Straight-line rental income accrual  13  14  —  —  —  14    
Gross property revenue  739  54  793  575  28  603  1 396    
Property expenses(i) (130) (9) (139) (22) (1) (23) (162)   
Net profit from property operations  609  45  654  553  27  580  1 234    
Corporate and administrative expenses  (80) (6) (86) (40) (14) (54) (140)   
Investment and other income  189  40  229  —  —  —  229    
Fair value movement on non-designated portion of CCIRS  18  —  18  —  —  —  18    
Operating profit before finance costs        815        526  1 341    

(1) The revenue and property expense have been reflected net of recoveries. The audited consolidated statement of profit or loss and other comprehensive income reflects the gross property revenue and gross property expenses.

                      Southern Africa                       Spain    Total     
   Retail 
Rm
 
Other 
Rm
 
Total 
Rm
 
Retail 
Rm
 
Other 
Rm
 
Total 
Rm
 
group 
Rm
 
  
Group statement of financial position at 30 September 2019                
Assets                
Non-current assets 13 993 3 152 17 145 15 566 1 396 16 962 34 107  
Investment property 13 654 332 13 986 15 566 1 394 16 960 30 946  
Straight-line rental income accrual 339 23 362 362  
Financial assets at fair value through profit or loss 1 138 1 138 1 138  
Investment in associate (equity-accounted) 1 252 1 252 1 252  
Derivative financial instruments 88 88 88  
Financial assets at amortised costs 277 277 277  
Deferred taxation 14 14 1 1 15  
Other non-current assets 28 28 1 1 29  
Current assets 1 082 1 357 2 439 721 349 1 070 3 509  
Trade and other receivables 114 83 197 79 1 80 277  
Derivative financial instruments 21 21 21  
Current taxation  
Cash and cash equivalents 33 381 414 642 348 990 1 404  
Non-current assets held for sale 935 872 1 807 1 807  
Total assets             37 616  
Equity and liabilities                
Equity attributable to the owners of the parent 5 149 13 053 18 202 530 392 922 19 124  
Stated capital 12 838 12 838 12 838  
Other components of equity 4 769 4 769 530 392 922 5 691  
Retained earnings 380 215 595 595  
Non-controlling interest 50 50 1 699 1 699 1 749  
Non-current liabilities 180 5 543 5 723 8 147 8 147 13 870  
Interest-bearing borrowings 5 011 5 011 8 079 8 079 13 090  
Lease liability 180 180 180  
Derivative financial instruments 532 532 61 61 593  
Deferred tax 7 7 7  
Current liabilities 234 2 482 2 716 143 14 157 2 873  
Trade and other payables 234 88 322 103 14 117 439  
Short-term portion of interest-bearing borrowings 2 369 2 369 40 40 2 409  
Short-term portion of lease liability 16 16 16  
Derivative financial instruments 5 5 5  
Current taxation liabilities 4 4 4  
Total equities and liabilities             37 616  
                      Southern Africa                       Spain Total  
   Retail 
Rm 
Other 
Rm 
Total 
Rm 
UK 
Rm 
Retail 
Rm 
Other 
Rm 
Total 
Rm 
group 
Rm 
Group income for the period ended 30 September 2018                         
Revenue(i)  654  67  721  —  290  19  309  1 030 
Straight-line rental income accrual 18  20  —  —  —  —  20 
Gross property revenue  672  69  741  —  290  19  309  1 051 
Property expenses(i)  (142) (5) (147) —  (70) —  (70) (217)
Net profit from property operations  530  64  594  —  220  19  239  834 
Corporate and administrative expenses  —  —  (68) —  —  —  (29) (97)
Investment and other income  —  —  157  —  11  168 
Fair value movement on non-designated portion of CCIRS  —  —  (32) —  —  —  —  (32)
Operating profit before finance costs        651  —        221  873 
Profit from associate           46           46 
(i) The revenue and property expense have been reflected net of recoveries. The audited consolidated statement of profit or loss and other comprehensive income reflects the gross property revenue and gross property expenses.
                     Southern Africa                      Spain Total  
  Retail
Rm
Other
Rm
Total
Rm
UK
Rm
Retail
Rm
Other
Rm
Total
Rm
group
Rm
 
Group statement of financial position at 30 September 2018                  
Assets                  
Non-current assets 14 635 1 327 14 791 30 753  
Investment property 12 167 358 12 525 14 390 381 14 771 27 296  
Straight-line rental income accrual 275 10 285 1 1 286  
Financial assets at fair value through profit or loss 1 433 1 433  
Investment in associate (equity accounted) 1 327 1 327  
Derivative financial instruments 8 8  
Financial assets at amortised costs 237 237  
Deferred taxation 110 1 111  
Other non-current assets 37 18 55  
Current assets     439       607 1 046  
Trade and other receivables 183 36 219  
Derivative financial instruments 2 2  
Current taxation 2 9 11  
Cash and cash equivalents 252 562 814  
Non-current assets held for sale 1 037 1 020 2 057 2 057  
Total assets               33 856  
Equity and liabilities                  
Total equity               19 899  
Non-current liabilities     5 193       7 065 12 258  
Interest-bearing borrowings 4 811 7 053 11 864  
Lease liability  
Derivative financial instruments 382 5 387  
Deferred tax 7 7  
Current liabilities     1 330       369 1 699  
Trade and other payables 315 366 681  
Short-term portion of interest-bearing borrowings 1 005 1 005  
Derivative financial instruments 6 6  
Current taxation liabilities 4 3 7  
Total equity and liabilities               33 856