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Consolidated Infrastructure Group Limited
Consolidated Infrastructure Group Limited
Dated: 01 March 2018
Release: audited annual financial statements
Noteholders are advised that the Consolidated Infrastructure Group Limited’s (“CIG”) integrated annual
report, incorporating the audited annual financial statements for the year ended 31 August 2017, was
distributed to the market on 28 February 2018. The integrated annual report is available on the
Company’s website (www.ciglimited.com).
The audited annual financial statements contains reclassifications to the “statement of financial position”
and “statement of cash flows” of R16.3 million as a result of a reallocation between assets and liabilities
from the reviewed provisional condensed consolidated results for the year ended 31 August 2017,
released on SENS on 30 November 2017 (“the SENS announcement”). It should be noted that net asset
value, the total cash and cash equivalents balance, loss for the year, earnings per share and headline
earnings per share remain the same as the SENS announcement. The statement of comprehensive
income” did not change from the SENS announcement.
Noteholders are advised that an unqualified audit opinion was issued on the audited annual financial
statements.
STATEMENTS OF FINANCIAL POSITION
Reviewed
year ended
31 August 2017
R'000
ASSETS
Non-current assets 2,715,276
Property, plant and equipment 513,660
Goodwill 1,151,969
Intangible assets 163,373
Deferred tax 140,293
Investment in joint arrangement 724,783
Financial assets 21,198
Current assets 4,312,699
Inventories 232,208
Trade and other receivables 539,306
Amounts due from contract customers 3,107,633
Taxation receivable 73,334
Cash and cash equivalents 360,218
Total assets 7,027,975
EQUITY AND LIABILITIES
Equity 3,839,348
Stated Capital 2,328,926
Share based payment reserve 49,410
Foreign currency translation reserve 44,282
Accumulated profits 1,418,640
Non-controlling interest (1,910)
Non-current liabilities 223,339
Other financial liabilities – interest bearing 111
Other financial liabilities – non-interest bearing 87,144
Provisions 23,092
Instalment sale liabilities 25,480
Deferred tax 87,512
Current liabilities 2,965,288
Other financial liabilities 948,737
Trade and other payables 1,466,352
Amounts received in advance 79,325
Amounts due to contract customers 68,276
Instalment sale liabilities 25,784
Bank overdraft 370,774
Taxation payable 6,040
Total equity and liabilities 7,027,975
The updated “statement of financial position” from the audited annual financial
statements is as follows:
STATEMENT OF FINANCIAL POSITION
Audited
year ended
31 August 2017
R'000
ASSETS
Non-current assets 2,708 085
Property, plant and equipment 513,660
Goodwill 1,151,969
Intangible assets 163,373
Deferred tax 140,293
Investment in joint arrangement 724,783
Financial assets 14,007
Current assets 4,303,542
Inventories 232,208
Trade and other receivables 522,958
Amounts due from contract customers 3,107,633
Financial assets 7,191
Taxation receivable 73,334
Cash and cash equivalents 360,218
Total assets 7,011,627
EQUITY AND LIABILITIES
Equity 3,839,348
Stated Capital 2,328,926
Share based payment reserve 49,410
Foreign currency translation reserve 44,282
Accumulated profits 1,418,640
Non-controlling interest (1,910)
Non-current liabilities 229,319
Financial liabilities 87,255
Instalment sale liabilities 25,480
Operating lease liability 6,569
Retirement benefit obligation 15,598
Deferred tax 87,512
Provisions 6,905
Current liabilities 2,942,960
Other financial liabilities 932,389
Trade and other payables 1,466,352
Amounts received in advance 79,325
Amounts due to contract customers 68,276
Operating lease liability 3,377
Instalment sale liabilities 15,838
Bank overdraft 370,774
Total equity and liabilities 7,011,627
The following was the “statement of cash flow” from the SENS announcement:
STATEMENTS OF CASHFLOW
Reviewed
year ended
31 August 2017
R'000
Cash flows from operating activities
Cash used in operations (59,489)
Interest income 34,520
Finance costs (137,180)
Tax paid (121,812)
Net cash flows from operating activities (283,961)
Cash flows from investing activities
Acquisition of property, plant and equipment (83,309)
Proceeds on sale of property, plant and equipment 3,506
Purchase of other intangible assets (39,563)
Business combinations (824,623)
Acquisition of financial assets (4,305)
Net cash flows from investing activities (948,294)
Cash flows from financing activities
Proceeds on share issue 720,947
Increase in financial liabilities -
Repayment of financial liabilities (38,822)
Repayment of instalment sales liabilities (25,197)
Net cash flows from financing activities 656,928
Total cash and cash equivalents movements for the year (575,327)
Cash and cash equivalents at the beginning of year 557,926
Effect of foreign currency translation reserve movement on cash 6,845
balances
Total cash and cash equivalents at end of the year (10,556)
The updated “statement of cashflow” from the audited annual financial statements is as follows:
STATEMENT OF CASHFLOW
Audited
year ended
31 August 2017
R'000
Cash flows from operating activities
Cash used in operations (43,142)
Interest income 34,520
Finance costs (137,180)
Tax paid (121,812)
Net cash flows from operating activities (267,614)
Cash flows from investing activities
Acquisition of property, plant and equipment (83,309)
Proceeds on sale of property, plant and equipment 3,506
Purchase of other intangible assets (39,563)
Business combinations (824,623)
Acquisition of financial assets (4,305)
Net cash flows from investing activities (948,294)
Cash flows from financing activities
Proceeds on share issue 720,947
Increase in financial liabilities -
Repayment of financial liabilities (55,169)
Repayment of instalment sales liabilities (25,197)
Net cash flows from financing activities 640,581
Total cash and cash equivalents movements for the year (575,327)
Cash and cash equivalents at the beginning of year 557,926
Effect of foreign currency translation reserve movement on cash 6,845
balances
Total cash and cash equivalents at end of the year (10,556)
Debt Sponsor: Investec Bank Limited
Date: 01/03/2018 04:55:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
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