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4.
Subsidiaries
continued
4.1 Investment in subsidiaries
continued
Subsidiaries and transactions with non-controlling interests
Set out below is summarised financial information for African Land, in which Hyprop had an 87% share as at 30 June 2014.
African Land became a wholly owned subsidiary of Hyprop effective 1 July 2014. The amounts disclosed are based on those
included in the consolidated financial statements, before the elimination of intercompany balances.
African Land
GROUP
June 2015
R000
GROUP
June 2014
R000
COMPANY
June 2015
R000
COMPANY
June 2014
R000
Summarised statement of financial position
Current assets
13 252
7 393
Current liabilities
(10 807)
(22 404)
2 445
(15 011)
Non-current assets
771 230
1 644 235
Non-current liabilities
(603 259)
771 230
1 040 976
Net assets
773 675
1 025 965
Non-controlling interest
nil
133 237
Summarised statement of comprehensive income
Revenue
nil
77 953
Net (loss)/profit
(118 830)
62 393
Total comprehensive (loss)/income
(118 830)
62 393
Profit allocated to non-controlling interest
nil
8 103
Dividends paid to non-controlling interest
495
4 539
Summarised cash flows
Cash flows from operating activities
(24 369)
(695 086)
Cash flows from investing activities
768 761
(818 440)
Cash flows from financing activities
728 140
1 501 920
Significant restrictions
None
4.2 Dividends received from subsidiaries
African Land
14 941
30 308
Hyprop Mauritius
27 678
4 770
Word4Word
1 500
1 500
Hyprop Investments Employee Incentive Scheme
753
365
Total dividends received
44 872
36 943
105
Hyprop Investments Limited
Integrated Report 2015