Details of the group’s associate at the end of the reporting period are as follows:
| |
|
|
Proportion of ownership interest and
voting power held by the group |
|
| Name of associate |
Principal activity |
Place of
incorporation
and operation |
June
2016 |
|
June
2015 |
|
| It’s Called Advertising Proprietary Limited(1) (It’s Called Advertising) |
Graphic design and advertising company |
South Africa |
40% |
|
40% |
|
(1) 40% of It’s Called Advertising is owned by Word4Word. Word4Word is a wholly owned subsidiary of Hyprop. Refer to note 4 — Subsidiaries
Summary of reviewed financial information of the group’s associate is set out below:
| Reconciliation to the statements of financial position |
June 2016
R000 |
|
June 2015
R000 |
|
| It’s Called Advertising |
|
|
|
|
| Total assets |
2 422 |
|
2 592 |
|
| Non-current assets |
163 |
|
142 |
|
| Current assets |
2 259 |
|
2 450 |
|
| Total liabilities |
427 |
|
555 |
|
| Current liabilities |
427 |
|
555 |
|
| Net assets |
1 995 |
|
2 037 |
|
| Group’s share of net assets of It’s Called Advertising |
766 |
|
827 |
|
| Investment in associate |
766 |
|
827 |
|
| Reconciliation to the statements of profit or loss and other comprehensive income |
|
|
|
|
| It’s Called Advertising |
|
|
|
|
| Total revenue |
9 275 |
|
9 095 |
|
| Total profit for the year |
521 |
|
1 631 |
|
| Group’s share of profits of It’s Called Advertising |
457 |
|
652 |
|
| Reconciliation of share of net assets to carrying amount |
|
|
|
|
| Group’s share of net assets of It’s Called Advertising |
766 |
|
827 |
|
| Carrying amount |
766 |
|
827 |
|
|