NOTES TO THE GROUP ANNUAL FINANCIAL STATEMENTS l NOTE 30

30. Profit before taxation

Profit before taxation is stated after charging/(crediting) the following items:

  GROUP
June 2014
R’000		   GROUP
June 2013
R'000		   COMPANY
June 2014
R’000		   COMPANY
June 2013
R'000		  
Auditors’ remuneration (included in ‘other expenses’) 5 123   4 510   160   160  
    Audit fees 5 106   4 261   160   160  
    Fees for consulting and other services –   664   –   –  
    Prior period (over)/underprovision 17   (415)   –   –  
Amortisation of development costs and other intangible assets 43 907   40 098   –   –  
Depreciation of property, plant and equipment 40 475   37 251   –   –  
    Motor vehicles 659   508   –   –  
    Building infrastructure 103   86   –   –  
    Computer equipment 27 848   25 195   –   –  
    Furniture and fittings 7 854   7 106   –   –  
    Office equipment 4 011   4 356   –   –  
Bad debt write-off 189   4 540   –   –  
Operating lease rentals (included in ‘rentals and property costs’) 119 788   111 910   –   –  
    Buildings 118 094   109 043   –   –  
    Computer equipment –   –   –   –  
    Motor vehicles 594   809   –   –  
    Office equipment and furniture 1 100   2 058   –   –  
Repairs and maintenance (included in ‘rentals and property costs’) 3 876   4 589   –   –  
Directors’ emoluments (included in ‘employee benefit costs’)                
Executive                
    W Holmes 4 581   4 129   132   116  
    – Basic salary 2 161   2 021   –   –  
    – Bonus 852   717   –   –  
    – Company contributions 251   236   –   –  
    – Share-based payment (note 37) 1 317   1 155   132   116  
    D Dempers 5 867   33 003   683   9 750  
    – Basic salary 4 459   4 466   –   –  
    – Bonus –   9 000   –   –  
    – Share-based payment (note 37) 1 367   19 500   683   9 750  
    – Company contributions 41   37   –   –  
Non-executive                
For services as Directors (basic salary) 2 586   2 266   –   –  
    ATM Mokgokong 797   725   –   –  
    MJ Madungandaba 693   657   –   –  
    SM Rothbart 421   385   –   –  
    J Appelgryn 135   –   –   –  
    B Bam 180   128   –   –  
    G Napier 180   191   –   –  
    Y Masithela 180   180   –   –  
Employee benefit costs 1 113 898   973 272   1 282   798  
    Salaries and wages 973 195   845 893   1 282   798  
    Termination benefits 5 537   2 299   –   –  
    Incentive bonus 65 033   62 970   –   –  
    Staff welfare 25 396   21 669   –   –  
    Movement in post-employment medical obligation (349)   47   –   –  
    Pension costs – defined contribution plans 45 086   40 394   –   –  

  GROUP
June 2014
R’000		   GROUP
June 2013
R'000		   COMPANY
June 2014
R’000		   COMPANY
June 2013
R'000		  
Average number of persons employed by the Group during the period:                
South Africa 3 214   2 627   –   –  
    Full time 2 901   2 559   –   –  
    Part time 313   68   –   –  
Outside of South Africa 310   298   –   –  
    Full time 308   278   –   –  
    Part time 2   20   –   –  
Dividends received                
    Other 2   23   115 486   1 201  
Profit/(loss) on disposal of tangible assets (235)   440   –   –  
Profit/(loss) on disposal of investments –   51 014   –   –  
    Loss on disposal of Agility Broker Services –   (69)   –   –  
    Profit on sale of Bonitas Marketing (49%) –   60   –   –  
    Profit on disposal of Tradebridge –   51 023   –   –  
Fair value gains –   5 252   –   –  
    Fair value gain on investment property –   4 700   –   –  
    Fair value gain – other –   552   –   –  
Impairment of investment in associate –   –   –   4 121  
Other expenses                
Included in ‘other expenses’ are the following:                
    Donations 2 335   2 767   –   –  
    Legal and consulting fees 87 125   76 146   3 555   1 440  
    Management costs 118 310   119 919   1 500   1 140  
    Marketing and recruitment 23 110   9 949   –   –  
    Straight-lining of leases (7 130)   (5 263)   –   –  

NOTES TO THE GROUP ANNUAL FINANCIAL STATEMENTS l NOTE 30