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NotestotheConsolidatedFinancialStatements

(continued)

RCS GROUP CONSOLIDATED FINANCIAL STATEMENTS

2015

40

for the period ended 31 December 2015

9 Months ended

12 Months ended

31 December 2015

31 March 2015

R’000

R’000

22.

Cost of risk

Movement in allowance for impaired card and loan receivables

74 795

63 469

Bad debts recovered

(161 017)

(182 326)

Bad debts write-off

511 593

626 006

Movement in provision for future recoveries

13 964

(31 187)

439 335

475 962

23.

Profit before taxation

Included within profit before taxation are the following items:

Amortisation of intangible assets

8 664

11 961

Auditor’s remuneration - External

1 105

1 043

Consultancy fees

20 815

33 776

Depreciation of property and equipment

13 178

7 097

Donations

1 165

984

Foreign exchange loss

48

115

Legal fees

708

680

Impairment of investment in associate

786

(Profit) / loss on disposal of property and equipment

(28)

134

Manpower costs

- Salaries

193 748

239 337

- Directors’ emoluments

24 185

23 750

Premises costs

35 292

28 860

Reclassification of cash flow hedge to profit

14 233

Profit on sale of investment in associate

12 634

24.

taxation

Income taxation recognised in the income statement

South African current taxation:

- Current period

155 402

197 659

- Prior period under provision

1 460

Non-South African current taxation:

- Current period

1 613

3 327

- Prior period under provision

776

- Withholdings taxation

307

346

Security transfer taxation

- Current period

6 558

157 322

210 126