Bid Corporation Limited Results for the year ended June 30 2017

for the year ended June 30

R000s	2017 Audited	2016 Reviewed Pro forma (Note 2)	% change	2016 Audited Actual (Note 1)
Headline earnings
The following adjustments to profit attributable to shareholders were taken into account in the calculation of headline earnings:
Profit attributable to shareholders of the Company	4 008 287	3 430 711	16,8	3 279 576
Net impairments	400 534	166 825		166 825
Goodwill	176 174	–		–
Property, plant and equipment	115 093	41 463		41 463
Intangible assets	94 384	3 817		3 817
Available-for-sale investment	43 379	119 076		119 076
Associate	–	10 699		10 699
Deferred taxation relief	(28 496)	(8 230)		(8 230)
Net profit on disposal of interests in subsidiaries and interest of associate	(465 882)	(25 656)		(34 804)
Profit on disposal of subsidiaries	(510 232)	(26 670)		(35 818)
Profit on disposal of interest in associate	(11 804)	–		–
Deferred taxation charge	56 154	1 014		1 014
Net (profit) loss on disposal of property, plant and equipment and intangible assets	(21 175)	11 499		11 499
Property, plant and equipment	(7 122)	4 256		4 256
Intangible assets	(14 203)	5 280		5 280
Taxation charge	150	1 963		1 963

Headline earnings	3 921 764	3 583 379	9,4	3 423 096

Note 1:	Actual financial results of Bidcorp for the year ended June 30 2016 do not include assets transferred to Bidcorp from Bidvest as part of the restructuring of Bidcorp for the full financial year, as this transfer was effective from April 1 2016.
Note 2:	Pro forma financial results of Bidcorp assume all the assets (refer to note 1) transferred into Bidcorp by Bidvest as part of the restructuring prior to its listing and unbundling had been part of Bidcorp for the full financial year.