Value added statement

for the year ended 30 June 2017

Value added is a measure of the wealth created by the group and its employees through its business activities. The table below sets out the value added and how it was shared.

    12 months to
June 2017
Rm		       12 months to
June 2016
Rm		      
  Income from: 2 838       2 658      
     South Africa property portfolio 2 679       2 549      
     Sub-Saharan Africa 57       84      
     South-Eastern Europe 102       25      
  Other income 37       7      
  Fund management expenses (67)       (64)      
  Antecedent dividend         17      
  Total value created 2 808       2 618      
        %
of total		       %
of total		  
  Value distribution                
  To employees                
     Remuneration and benefits 144   5,1   127   4,9  
  To providers of finance                
     Net finance costs 321   11,5   394   15,1  
  To government                
     Municipal charges 618   22,0   573   21,9  
  To providers of capital                
     Distribution to shareholders 1 725   61,4   1 522   58,1  
  Total value distributed 2 808       2 618