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2015

RCS GROUP CONSOLIDATED FINANCIAL STATEMENTS

41

9 Months ended

12 Months ended

31 December 2015

31 March 2015

R’000

R’000

24.

taxation (continued)

Income taxation recognised in the income statement (continued)

Deferred taxation:

- Current period

(77 348)

(68 902)

(77 348)

(68 902)

79 974

141 224

Reconciliation of the taxation expense

Standard taxation rate

28.00%

28.00%

Non-South African taxation rate

(0.22%)

(0.24%)

Non-deductible expenditure

0.90%

1.89%

Withholdings taxation

0.11%

0.08%

Prior period normal taxation under provision

0.51%

Capital gains taxation

0.34%

Securities transfer taxation

1.49%

Current period’s charge as a percentage of profit before taxation

28.79%

32.07%

25.

Cash utilised in operations

Profit before taxation

277 814

440 363

Adjustments for:

- Amortisation of intangible assets

8 664

11 961

- Depreciation of property and equipment

13 178

7 097

- (Profit) / loss on disposal of equipment

(28)

(134)

- Share of profit from equity accounted investments

(1 977)

- Foreign currency exchange differences

7 625

(36)

- Impairment of investment in associate

786

- Profit on sale of investment

(12 634)

- Profit on sale of interest rate swaps

(14 233)

Changes in working capital:

- Increase in card and loan receivables

(453 722)

(763 222)

- Decrease in other receivables

6 403

11 182

- Decrease / (increase) in amount receivable from cell insurer

69

(6 367)

- Increase in trade and other payables

115 327

76 535

(38 117)

(236 964)

NotestotheConsolidatedFinancialStatements

(continued)

for the period ended 31 December 2015