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ARB HOLDINGS LIMITED - Pro Active Monitoring of Annual Financial Statements

Release Date: 12/12/2014 09:05
Code(s): ARH     PDF:  
Wrap Text
Pro Active Monitoring of Annual Financial Statements

ARB HOLDINGS LIMITED
(Registration number: 1986/002975/06)
Share code: ARH      ISIN: ZAE000109435
(“ARB” or “the Company” or “the Group”)


PRO ACTIVE MONITORING OF ANNUAL FINANCIAL STATEMENTS

Arising from the JSE Limited (“JSE”) pro-active monitoring of
financial   statements,   the   directors   wish   to   inform
shareholders that corrective disclosure is required in respect
of other comprehensive income relating to the revaluation of
property plant and equipment and the deferred taxation
thereon.

This announcement has no effect on the reported Earnings per
Share or Headline Earnings per Share for the periods ended 30
June 2014 and 30 June 2013.

As a result of the pro-active monitoring of annual financial
statements by the JSE, the company has clarified the
components of the comprehensive income and the related
deferred tax charge:
                                           2014     2013
                                           R000’s   R000’s
Revaluation of land                        5 498    4 661
Revaluation of buildings                  (6 846)   3 997
Total revaluation                         (1 348)   8 658

Taxation
On revaluation of land                       (1 025)     (870)
On revaluation of buildings                   1 916    (1 119)
Change in tax rate on
revaluation of land                             -       4 259
Total tax reversal (charge)                    891      2 270

Revaluation of property, plant and
equipment (net of taxation)                  (457)     10 928

Durban
12 December 2014

Sponsor
Grindrod Bank Limited

Date: 12/12/2014 09:05:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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