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VALUE ADDED STATEMENT
Value added is defined as the value created by the Group’s activities and is determined as income less impairments, amounts spent on corporate social investment and other operating expenditure. Blue Label’s value added statement shows the total wealth created by the Group and how it was distributed to the Group’s stakeholders, taking into account the amounts retained and reinvested in the Group for the replacement of assets and the development of operations.
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2014
R’000 |
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2014
% |
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|
2013
R’000 |
|
2013
% |
|
2012
R’000 |
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|
2012
% |
|
| VALUE ADDED |
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|
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| Value added by operating activities |
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1 125 610 |
|
96.7 |
|
|
1 050 765 |
|
95.9 |
|
1 068 131 |
|
|
94.7 |
|
| Revenue |
|
19 401 666 |
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|
18 984 210 |
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|
18 722 080 |
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| Net operating expenses |
|
(18 276 056) |
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|
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|
(17 933 445) |
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|
(17 653 949) |
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| Value added by investing activities |
|
38 807 |
|
3.3 |
|
|
45 489 |
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4.1 |
|
59 730 |
|
|
5.3 |
|
| Interest income |
|
38 807 |
|
|
|
|
45 489 |
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|
59 730 |
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 |
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| |
|
1 164 417 |
|
100 |
|
|
1 096 254 |
|
100 |
|
1 127 861 |
|
|
100 |
|
| VALUE DISTRIBUTED |
|
|
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| Distributed to employees |
|
332 542 |
|
28.6 |
|
|
332 901 |
|
30.4 |
|
329 406 |
|
|
29.2 |
|
| Salaries, wages, medical and other benefits |
|
332 542 |
|
|
|
|
332 901 |
|
|
|
329 406 |
|
|
|
|
|
|
|
|
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|
|
|
|
|
|
|
|
|
|
|
| Distributed to providers of finance |
|
22 993 |
|
2.0 |
|
|
23 767 |
|
2.2 |
|
3 307 |
|
|
0.3 |
|
| Finance costs |
|
22 993 |
|
|
|
|
23 767 |
|
|
|
3 307 |
|
|
|
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| Distributed to the state |
|
208 996 |
|
17.9 |
|
|
215 075 |
|
19.6 |
|
190 759 |
|
|
16.9 |
|
| Income tax |
|
208 996 |
|
|
|
|
215 075 |
|
|
|
190 759 |
|
|
|
|
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|
|
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|
|
|
|
|
|
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| Distributed to social responsibility |
|
5 075 |
|
0.4 |
|
|
4 242 |
|
0.4 |
|
3 340 |
|
|
0.3 |
|
| Corporate social investment |
|
5 075 |
|
|
|
|
4 242 |
|
|
|
3 340 |
|
|
|
|
|
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|
|
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|
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|
| Value reinvested |
|
145 896 |
|
12.5 |
|
|
112 164 |
|
10.2 |
|
181 575 |
|
|
16.1 |
|
| Depreciation, amortisation and impairment |
|
65 137 |
|
|
|
|
67 951 |
|
|
|
91 557 |
|
|
|
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| Net discounting finance cost |
|
26 440 |
|
|
|
|
15 558 |
|
|
|
66 505 |
|
|
|
|
| Share of losses of associates and joint ventures |
|
56 873 |
|
|
|
|
47 326 |
|
|
|
19 835 |
|
|
|
|
| Deferred taxation |
|
(2 554) |
|
|
|
|
(18 671) |
|
|
|
3 678 |
|
|
|
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|
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|
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| Value retained |
|
448 915 |
|
38.6 |
|
|
408 105 |
|
37.2 |
|
419 474 |
|
|
37.2 |
|
| Retained profit |
|
450 230 |
|
|
|
|
424 841 |
|
|
|
438 104 |
|
|
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| Minority shareholders’ interest |
|
(1 315) |
|
|
|
|
(16 736) |
|
|
|
(18 630) |
|
|
|
|
|
|
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|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
1 164 417 |
|
100 |
|
|
1 096 254 |
|
100 |
|
1 127 861 |
|
|
100 |
|
| VALUE DISTRIBUTED 2014 (%) |
VALUE DISTRIBUTED 2013 (%) |
VALUE DISTRIBUTED 2012 (%) |
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