19.	INVESTMENT IN JOINTLY CONTROLLED ENTITY
	Effective April 1 2017, Bidcorp Food Africa Proprietary Limited, a subsidiary of Bid Corporation Limited, signed agreements with Puratos Group NV (Puratos) whereby Puratos became an equal shareholder in Bidcorp Food’s Bakery Solutions Division (BBS, subsequently renamed Chipkins Puratos (CP)). CP manufactures and supplies bakery ingredients to industrial bakers, the craft market and large retailers under the Chipkins and NCP brands in South Africa. The interest in the venture is accounted for using the equity method of accounting. The joint venture was initially recorded at fair value and is increased or decreased by Bidcorp’s share of the profit or loss of CP after April 1 2017.

		2017 R’000		2016 R’000
	Balance at beginning of year	–		–
	Recognition of CP jointly controlled entity at fair value	387 523		–
	Share of net profit from jointly controlled entity	6 516		–
	Balance at end of year	394 039		–
	The CP jointly controlled entity net revenue represents 0,9%, trading profit 1,3% and total assets 0,9% of the Bidcorp group. Thus, no summarised financial information has been supplied in these financial statements.