Page 93 - CON Boardpack July 20200708 Final_Neat

SA Pork Producers Organisation
Financial Statements for the year ended 31 December 2019

Notes to the Financial Statements
2019 2018
R R

10. Operating profit (loss)

Operating profit (loss) for the year is stated after accounting for the following:

Property, plant and equipment 9 422 879 126

Depreciation on property, plant and equipment - General 975 130 402 556

Depreciation on property, plant and equipment - Business Development 656 456 427 253
Research and development costs 1 205 644 732 635

11. Investment revenue

Dividend revenue

Momentum Health 21 440 16 767

Int erest revenue

Bank 451 264 489 197
Other interest 66 534 318 038

517 798 807 235
539 238
824 002

12. Fair value adjustments

Other financial assets 220 916 (88 637)

13. Taxation

Major components of the tax expense

No provision has been made as the entity is exempt from Income Tax in terms of Section 10(1)(d)(iv)(bb) read with Section
56(1)(h) of the Income Tax Act No. 58 of 1963.

14. Cash (used in) generated from operations

Profit before taxation 819 391 439 379

Adjustments for:
Depreciation and amortisation - General 975 130 402 556

Depreciation and amortisation - Business Development 656 456 427 253

Dividends received (21 440) (16 767)
Interest received (517 798) (807 235)

Fair value adjustments (220 916) 88 637

National Animal Health Forum - (66 942)
Profit on sale of assets (9 422) (879 126)

Changes in working capital:

Trade and other receivables (4 157 601) (2 640 737)

Prepayments - 9 148 599
Trade and other payables 642 897 1 905 777
(1 833 303) 8 001 394

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