83 / 170
2016
R’000
2015
R’000
4.
NET FINANCE CHARGES
Finance income
66 846
29 173
Interest income on other advances
13 208
12 470
Interest income on bank balances
33 482
16 703
Interest imputed on post-retirement assets (refer to note 25)
20 156
–
Finance charges
(290 625)
(269 963)
Interest expense on bank overdrafts
(18 089)
(9 021)
Interest expense on financed assets
(13 102)
(13 102)
Interest expense on other borrowings
(216 107)
(225 041)
Interest imputed on post-retirement obligations (refer to note 25)
(20 242)
(4 436)
Unwinding of discount on puttable non-controlling interest liabilities (refer to note 26)
(23 085)
(18 363)
(223 779)
(240 790)
5.
TAXATION
Current taxation
1 053 432
873 116
Current year
1 075 862
882 978
Prior years’ over provision
(22 430)
(9 862)
Deferred taxation
48 953
(32 061)
Current year
70 788
(29 733)
Prior years’ under (over) provision
847
(2 282)
Change in rate of taxation
(22 682)
(46)
Foreign withholding taxation
6 696
8 739
Total taxation per consolidated statement of profit or loss
1 109 081
849 794
Comprising
South African taxation
96 172
948
Foreign taxation
1 012 909
848 846
1 109 081
849 794
Bidcorp Limited Annual integrated report 2016 |
Page 79
Financial overview