Wrap Text
Audited summary consolidated results for the year ended 31 August 2015
PURPLE GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1998/013637/06)
Share code: PPE
ISIN: ZAE000185526
("Purple Group" or "the Company" or "the Group")
AUDITED SUMMARY CONSOLIDATED RESULTS
FOR THE YEAR ENDED 31 AUGUST 2015
Revenue
(R'000)
up 40%
131 433
Prior year:
93 897
EBITDA
increased by
116.6 (%)
to R45.1 million
Prior year:
R20.8 million
Capital and
dividend
distribution of
(cents per share)
up 125%
2.25
Prior year:
one
Headline
earnings/(loss)
per share
(cents)
up 274.6%
3.51
Prior year:
(2.01)
Earnings per share
(cents)
up 267.9%
3.51
Prior year:
(2.09)
CHAIRMAN'S LETTER
Purple Group has grown up to be a young company.
Technology is central to our various client engagements and its continued development
remains quietly core to the unveiling of our strategy and the establishment of our
competitive advantage.
Clients, clients, clients is the mantra of the organisation. If you walk through our
offices, you will find them filled with young energy and considered ambition, and you
can't help but sense the client focus in all that we say and do. Our client growth figures
validate this effort.
Our stated purpose – making markets easily accessible to everyone – is founded in the
notion of universal economic dignity.
Across all demographics and economic strata of South African society, owning
investment assets is, for most, a deferred dream. Ordinary people, inheritance aside,
spend their entire economically active lives servicing the liabilities they incurred to
fund aspirant lifestyles for themselves and better opportunities for their children.
It does not have to be that way.
By engaging with and listening to people, and using technology to communicate, we
have found that, without exception, people know more than they thought they did about
value and about investing. People understand brands and they know where they shop.
And so it is, across the various offerings in our group, we offer a walk in, sign up and
invest now approach to our diverse client base. We don't discriminate on the basis of
how much you have to start with.
The earlier you start investing, the sooner you can anticipate financial independence,
and the freedom of choice that it brings with it. Incremental investment strategies that
start now have a lower market timing risk than lump sums later, fact.
We have manifest common cause within the Purple Group. Everyone that works here
owns shares in our company, everyone.
Congratulations to the management team and all who work here, enthusiastically
setting about the realisation of our client building strategy. The traction and
momentum we all feel is reward and testament enough to your efforts.
I wish to thank our major shareholders for their continued support, for the latitude we
have to explore, invent, solve and deliver.
Mark Barnes
Chairman
CHIEF EXECUTIVE OFFICER'S LETTER
As you read through this year's Annual Report I'm sure that, like me, you will get a
sense that there is no small measure of magic happening at the Purple Group.
The success headlined in our financials, awards received and asset management
rankings performance has been hard fought. For anyone following our progress
over the last few years, this should be no surprise. Our success and opportunity is
forged from innovation, failure, determination, trust, understanding, experiences
and mostly our extraordinary people. It is both exciting and rewarding to see how far
an organisation and its people can come in such a short time when you get these
ingredients in just the right measure.
I don't believe that there is a simple cookbook for success – ours or anyone else's.
But, at the heart of everything we do lies the simple philosophy that, if you empower
people, they will deliver extraordinary things. Empowerment doesn't come from
telling people what to do. Nor does it come from giving them rights or titles. Instead,
empowerment comes from showing people what's possible, daring them to dream,
tooling them for their endeavours and, importantly, creating a fun, friendly, engaging,
educational space for them to play, with safety nets for when they fall.
This is the philosophy and culture of our workplace, it is the ethos of our board
and it is an integral part of everything we do. Nowhere is it more on display than in
EasyEquities. Our challenge is to ensure that, as we raise the bar and redefine the
landscape for financial services in South Africa, that we remain true to our desires
and goals – to make investing easy for everyone and to democratise share ownership,
once and for all.
The strategic pillars and focus, communicated in last year's integrated annual
report, are proven in the results and the year ahead holds much promise and many
opportunities. As an intentionally small team we will continue to be smart in where
we choose to invest our resources and focus.
As a group, making correct choices means ensuring that we strike the right balance
of growth, income and investment; that we partner the best opportunities into the
right places and that we grow our people, remaining focused on making things #easy.
Leveraging technology to lower the cost, increasing agility and broadening access
to financial products and services whilst focusing on improving client engagement
through transparency and ease of use is what Fintech is all about.
Increased collaboration in partnering innovative Fintech business models with larger,
trusted brand and distribution partners in order to maximise the "best of both worlds"
is a trend we see playing out in South Africa. Purple Group is well positioned to take
advantage of the opportunities presented.
Congratulations to #TeamPurple on a magical year.
Charles Savage
Group CEO
CHIEF FINANCIAL OFFICER'S REPORT
TOTAL REVENUE INCREASED BY 40% DURING THE YEAR, TOTALLING R131,4 million,
with all business units contributing.
GT247.com
Key revenue drivers FY 2015 FY 2014 % move
Revenue (R'000) 99 469 71 512 39.1
Nominal traded (R'bn) 366.6 243.7 50.4
Market volatility 15.5 13.8 12.3
GT247.com posted strong revenue growth of 39.1% during the year. Around 23%
of this growth can be attributed to the products and services provided to asset
managers, most notably to the Group's asset management business, Emperor Asset
Management. The remainder of the growth was driven by a 12.3% increase in market
volatility spurred by a number of events around the globe. Increased volatility drives
trade activity (nominal traded) which in turn drives revenue.
EasyEquities
Key revenue drivers FY 2015
Net trading expense (R'000) (485)
Accounts opened 8 000+
Client funds (R'm) 154.7
GT247.com launched its EasyEquities platform on 27 October 2014. At 31 August
2015 (10 months since launch) this business had over 8 000 clients who had opened
accounts with funds totalling R154.7 million.
GT Private Broking
Key revenue drivers FY 2015 FY 2014 % move
Revenue (R'000) 22 528 17 354 29.8
Nominal traded (R'bn) 35.8 17.9 100.0
Client funds (R'm) 138.6 103.9 33.4
Market volatility 15.5 13.8 12.3
GTPB's 29.8% growth in revenue was driven by a 33.4% increase in client funds,
attracted by this business during the year, compounded by an increase in market
volatility that saw trade volumes double. There was a significant increase in the
nominal value traded in international and local stock indices during the current year,
which are lower margin instruments for the business.
Emperor Asset Management
Key revenue drivers FY 2015 FY 2014 % move
Management fees (R'000) 3 782 2 376 59.2
Performance fees (R'000) 6 139 1 242 394.3
Total revenue 9 921 3 618 174.2
Client funds (R'm) 579.6 407.6 42.2
Emperor Asset Management's revenue increased 174.2% compared to the prior
period. This growth was largely driven by outperformance achieved by the various
funds, specifically leading up to April 2015, and partly by a 42.2% increase in funds
under management.
TRADING EXPENSES
Trading expenses FY 2015 FY 2014 % move
IA broker commissions 5 425 4 911 10.5
Sales commissions 3 887 2 812 38.2
Research costs 919 91 909.9
Total 10 231 7 814 30.9
% trading revenue 7.8 8.3
Trading expenses comprise introducing agent (IA) commissions, sales commissions
and third-party research costs.
IAs are paid a percentage of all revenue generated by the Company from clients
introduced by the IA. The increase in these commissions during the current year is
predominantly due to the increased trading activity of IA introduced clients during the
current year.
Sales commissions comprise commissions paid to the Company's sales force and GT
Private Broking sales traders. The business introduced a sales internship programme
during the current year with the objective of identifying young energetic graduates that
can sell. To date, 12 graduates have completed the programme, of which six have been
offered permanent employment. The business is focused on aggressively growing its
sales force over the next few years in order to build on the revenue growth achieved
during the current year.
GT Private Broking introduced a new research offering to its client base during the
current year, resulting in a significant increase in research costs. The utilisation of this
research by GT Private Broking clients will be monitored during the coming financial
year in order to assess the benefits thereof to the business.
OPERATING EXPENSES
Operating expenses FY 2015 FY 2014 % move
Employment costs 36 471 31 850 14.5
IT costs 13 716 12 057 13.8
Marketing 9 611 7 253 32.5
Office costs 5 812 6 007 (3.2)
Professional fees 5 555 3 400 63.4
Other 5 511 4 924 11.9
Total 76 676 65 491 17.1
Operating expenses increased by 17.1% during the current year. Although this increase
may appear reasonable in light of the 40% increase in revenue, the cost base of the
Group is currently inflated, based on current revenue levels, and is more reflective
of the fact that the business has geared up its resources and capacity for growth
expected in the next few years. In addition, the business is incurring significant costs
in developing new products and improving existing products in order to differentiate its
offering from those of its competitors and disrupt the status quo.
EMPLOYMENT COSTS
Employment costs increased by 14.5% during the year, comprising an average annual
salary increase of around 13% for staff during March 2015. In addition, one executive
and two management positions were created and filled during the year.
The higher than average salary increase during the year recognises the outstanding
performance of the employees during the year and the value that the Company
places on each of their continued contribution and loyalty. The new management
and executive positions were made to support the new products launched during
the current year and to assist the business in driving growth through aggressively
delivering these products to the market.
IT COSTS
IT costs primarily include hosting and connectivity fees, various data-feed expenses and
licensing costs. The 13.8% increase during the current year comprised an inflationary
increase from various service providers and the impact of the depreciating Rand on
the cost of our Bloomberg and Reuters data-feeds and various other IT solutions and
systems sourced from foreign suppliers. In addition, our hosting fees increased by
12% during the current year with the launch of EasyEquities, and increased capacity
required to cater for future growth in our asset management business.
MARKETING
The marketing spend was 32.5% higher during the current year and amounted to 7.3%
(2014: 7.7%) of revenue, which is in our target range for marketing spend.
OFFICE COSTS
Office costs mainly comprise rental and rates charges (63%), telephone, mobile,
stationery, printing and other general office costs. The 3.2% decrease in office
expenditure was primarily due to the inclusion of a one-off cost incurred in the prior
year of R235 000. On a like-for-like basis these costs remained flat as marginal
increases in some office expenses were offset by a 24% decrease in telephone costs,
achieved through the implementation of a new telephone solution.
As the business and head count grows the office costs would be expected to increase
proportionately as the current office space has reached capacity.
PROFESSIONAL FEES
Professional fees primarily includes audit, compliance, regulatory and legal consulting fees.
Legal consulting fees were again high this year. The majority of the fees were incurred
in developing and launching our EasyEquities platform, including the protection of the
intellectual property associated with this product. In addition, the business incubated
a majority Black-owned asset manager, launched its first hedge fund and two unit
trusts, all of which required legal input.
Compliance and regulatory fees increased by 25% as a result of the new hedge
fund licence awarded toward the end of last year, as well as the growth in our asset
management business.
OTHER OPERATING EXPENSES
Other operating expenses include, travel and entertainment, listing costs, bank
charges and other sundry expenses.
Travel and entertainment costs increased by 29% during the year due to an increase in
the number of client roadshows and interactions along with an increase in the expense
incurred in respect of our year-end results function which included clients and staff.
The increased head count also added to the staff welfare costs which are included in
this expense.
Another significant contributor to the increase was bank charges which increased by
35.2% during the year, which is in line with the 40.0% increase in revenue.
EBITDA
Earnings before interest, taxation, depreciation and amortisation (EBITDA) from core
operations increased by 116.6% to R45.1 million for the year ended 31 August 2015.
NET INTEREST EXPENSE
The increase in the net interest expense is attributable to the additional funding
facilities secured to part fund Purple Group's R26 million direct investment in Real
People Investment Holdings during January 2015.
DEPRECIATION AND AMORTISATION
Depreciation and amortisation costs increased due to various new product development
costs being capitalised during the year, mainly comprising IT development expenses in
respect of the new EasyEquities platform.
FAIR VALUE, IMPAIRMENT AND GUARANTEE ADJUSTMENTS
2015 2014
R'000 R'000
Real People Investment Holdings (RPIH) 31 557 –
Blockbuster Trading 3 (BBT) – (25 446)
Provision for financial guarantee – BBT (31 058) –
Umnombo Investment Holdings – (5 200)
Total – RPIH related profit/(loss) 499 (30 646)
African Independent Retail Finance – (978)
Total 499 (31 624)
Purple Group owns an indirect stake in RPIH through a 37.5% shareholding in BBT
(an empowerment vehicle which holds a 3.93% (2014: 7.1%) stake in RPIH. BBT's stake
in RPIH was diluted through a capital raising concluded by RPIH during January 2015.
At this time Purple Group took the decision to invest R26 million directly in RPIH (as
communicated on SENS on 15 December 2014) in order to offset the dilution of Purple
Group's indirect investment in RPIH through BBT, as the board of directors was of
the opinion that the price at which the capital was being raised, by RPIH, was at a
significant discount to fair value and as such it would have been value destroying if
Purple Group did not partake in the capital raising.
In the result, Purple Group holds a 4.26% direct stake in RPIH (through normal
equity and convertible preference shares) and redeemable preference shares with a
cumulative face value of R10.4 million (which were subscribed for at a 42.5% discount
to face value).
The profit of R0.5 million during the current year was the sum of a write-up of R31.6 million
in the Group's direct investment in RPIH and a corresponding loss of R31.1 million
relating to the Group's indirect stake in RPIH as a result of the capital raising concluded
at a significantly discounted price. In the result, the Purple Group raised a provision for a
financial guarantee provided by the BBT Shareholders, jointly and severally, to the Industrial
Development Corporation (who part funded the deal).
This investment in RPIH remains non-core to the Purple Group and it will be exited
over the next three years, subject to market conditions.
CURRENT AND DEFERRED TAX
The tax debit of R12.8 million for the year ended 31 August 2015 mainly comprises
current tax of R12.5 million paid by First World Trader Proprietary Limited in respect
of current year profits.
PROFIT FOR THE YEAR
Basic earnings per share for the year ended 31 August 2015 has increased from a loss
per share of 2.09 cents in the prior year to a profit per share of 3.51 cents. Headline
earnings per share has improved from a loss of 2.01 cents per share in the prior period
to a profit of 3.51 cents per share.
SUMMARISED CONSOLIDATED STATEMENT OF FINANCIAL POSITION
Non-current assets increased by R55.8 million for the year ended 31 August 2015 as
a result of Purple Group's direct investment in RPIH and subsequent write-up thereof.
The investment of R26 million was partly funded by short-term facilities secured from
the Company's bankers.
The increase in non-current liabilities is due to the provision raised for the financial
guarantee.
The equity attributable to owners increased by R20.8 million, after payment of dividends/
capital distributions totalling R16.9 million, and an increase in capital reserves of
R6.1 million, resulting from directors and staff exercising share options during the year.
Gary van Dyk
Chief Financial and Operations Officer
OPERATING SEGMENTS
The operating segments are distinguished by the type of business and the management team responsible
for the business unit. The Group comprises the following operating segments:
- GT247.com and Emperor Asset Management (EAM) which includes GT Private Broking, EasyEquities
and EAM: are the derivatives trading, equity brokerage and asset management operations of the Group;
- Purple Group: manages the treasury and risk for the Group companies and is the Group's head office;
- Investments: fees and dividends earned on investments and fair value adjustments made against them;
- Powerbet Gaming Proprietary Limited trading as Voltbet: was the Group's sports betting operation.
GT247.com Purple
and EAM Group Investments Total
R'000 R'000 R'000 R'000
2015
Segment asset
Non-current assets 13 759 230 151 57 556 301 466
Current assets 279 624 344 6 233 286 201
Total assets 293 383 230 495 63 789 587 667
Segment liabilities
Non-current liabilities – – (31 058) (31 058)
Current liabilities (280 256) (10 836) – (291 092)
Total liabilities (280 256) (10 836) (31 058) (322 150)
There are no unallocated amounts. The only material inter-segment revenue is the management fees that
Purple Group charged First World Trader Proprietary Limited of R8 496 000 (2014: R4 088 000) for the year.
Inter-
Gt247.com Purple segment
and EAM Group Investments revenues Total
2015 R'000 R'000 R'000 R'000 R'000
Revenue 131 433 8 496 – (8 496) 131 433
Trading expenses (10 231) – – – (10 231)
Operating expenses* (77 975) (7 197) – 8 496 (76 676)
Net income 43 227 1 299 – – 44 526
Other income 5 – 549 – 554
Fair value, impairment and
guarantee adjustments – – 499 – 499
Profit before interest,
depreciation and amortisation 43 232 1 299 1 048 – 45 579
Interest income – – – – –
Interest expense (158) (885) – – (1 043)
Depreciation and amortisation (2 251) (14) – – (2 265)
Profit before tax 40 823 400 1 048 – 42 271
Current and deferred tax (12 420) (167) (246) – (12 833)
Profit after tax 28 403 233 802 – 29 438
* Share-based payment expense of R2 719 000 is included in operating expenses. The split per segment
is as follows:
- GT247.com and EAM: R2 231 000
- Purple Group: R488 000
Discon- Inter-
Gt247.com Purple tinued segment
and EAM Group Investments Voltbet revenues Total
R'000 R'000 R'000 R'000 R'000 R'000
2014
Revenue 93 897 4 088 – – (4 088) 93 897
Trading expenses (7 814) – – – – (7 814)
Operating expenses* (63 239) (6 340) – (2 514) 4 088 (68 005)
Net income/(loss) 22 844 (2 252) – (2 514) – 18 078
Other income 218 – – – – 218
Impairment and fair
value adjustments – – (31 624) – – (31 624)
Profit/(Loss) before
interest, depreciation
and amortisation 23 062 (2 252) (31 624) (2 514) – (13 328)
Interest income – 208 – – – 208
Interest expense (112) (963) – – – (1 075)
Depreciation and
amortisation (1 973) (9) – – – (1 982)
Profit/(Loss) before tax 20 977 (3 016) (31 624) (2 514) – (16 177)
Current and deferred
tax (6 447) 470 4 598 487 – (892)
Profit/(Loss) after tax 14 530 (2 546) (27 026) (2 027) – (17 069)
* Share-based payment expense of R1 905 000 is included in operating expenses. The split per segment
is as follows:
- GT247.com and EAM: R1 450 000
- Purple Group: R455 000
Capital distribution out of share premium in lieu of a dividend
The directors declared a capital distribution out of share premium, by way of a reduction of contributed
capital of 1 (one) cent per share, in lieu of a dividend, paid on 1 December 2014 to ordinary shareholders
recorded in the Company's register at the close of business on 28 November 2014.
In respect of the current year, the directors declared that a capital distribution of 1.25 (one point two five)
cents per share be paid to shareholders, by way of a reduction of share premium on 30 November 2015.
The proposed dividend is payable to all shareholders on the Register of Members on 27 November 2015.
The total estimated capital distribution to be paid is R10.8 million. The payment will not have any tax
consequences for the Group.
As this capital distribution was declared after the reporting date, it will only be accounted for in the 2016
financial year.
Please refer to the announcement released on SENS on 5 November 2015 for the salient dates for the
payment of the capital distribution.
Divident payment
An interim gross cash dividend of 1 (one) cent per share (0.85 cents per share netof divident withholding tax at a rate of 15%)
was declared to shareholders in the register on 24 April 2015 and paid on 28 April 2015.
Subsequent events
The directors are not aware of any other matter or circumstances arising since year end up to the date of
this announcement, not otherwise dealt with in this announcement.
Annual General Meeting
The annual general meeting of Purple Group will be held at The Offices of
Hyde Park, Block B, Strouthos Place (off 2nd Road), Hyde Park on Friday,
4 December 2015 at 10:00.
Basis of preparation of the Audited results
The summary consolidated financial results are prepared in accordance
with the requirements of the JSE Limited Listings Requirements for
abridged reports, and the requirements of the Companies Act of South Africa
applicable to summary financial statements. The Listings Requirements
require abridged reports to be prepared in accordance with the framework
concepts and the measurement and recognition requirements of
International Financial Reporting Standards (IFRS) and the SAICA Financial
Reporting Guides as issued by the Accounting Practices Committee and
Financial Pronouncements as issued by the Financial Reporting Standards
Council and to also, as a minimum, contain the information required by
IAS 34 Interim Financial Reporting. The accounting policies applied in
the preparation of the consolidated financial statements from which the
summary financial statements were derived are in terms of International
Financial Reporting Standards and are consistent with those accounting
policies applied in the preparation of the previous consolidated annual
financial statements, except for the adoption of new, improved and revised
standards and interpretations, which had no material effect on the financial
results. This report was compiled under the supervision of Gary van Dyk
CA(SA), Chief Financial and Operations Officer.
The audited summary consolidated financial statements do not include all of
the information required for full annual financial statements and should be
read in conjunction with the consolidated annual financial statements for the
year ended 31 August 2015. The directors take full responsibility for the
preparation of the provisional report and that the financial information has
been correctly extracted from the underlying Group audited financial statements.
Report of the independent auditors
These summary consolidated financial results for the year ended 31 August
2015 have been audited by BDO South Africa Inc., who expressed an
unmodified opinion thereon. The auditor also expressed an unmodified
opinion on the consolidated annual financial statements from which these
summary consolidated financial results were derived. A copy of the auditor's
unmodified report on the summary consolidated financial results and of the auditor's
unmodified report on the consolidated annual financial statements are available for
inspection at the Company's registered office, together with the financial
statements identified in the respective auditor's reports.
The auditor's report does not necessarily report on all of the information
contained in this announcement. Shareholders are therefore advised
that in order to obtain a full understanding of the nature of the auditor's
engagement they should obtain a copy of the auditor's report together with
the accompanying financial information from the Company's registered
office. Any reference to future financial performance included in this
announcement has not been reviewed or reported on by the Company's
auditor.
On behalf of the board
Mark Barnes (Executive Chairman)
Gary van Dyk (Chief Financial and Operations Officer)
Johannesburg
5 November 2015
SUMMARY CONDENSED GROUP STATEMENT OF FINANCIAL POSITION
as at 31 August 2015
2015 2014
R'000 R'000
ASSETS
Equipment 2 828 2 716
Intangible assets and goodwill 209 637 207 560
Other investments 57 556 3 628
Other financial assets 3 170 3 156
Deferred tax assets 28 275 28 645
Total non-current assets 301 466 245 705
Trade and other receivables 7 479 4 081
Tax receivable – 160
Other investments 6 233 –
Other financial assets 137 207
Cash and cash equivalents 272 352 134 111
Total current assets 286 201 138 559
Total assets 587 667 384 264
EQUITY AND LIABILITIES
Share capital and premium 461 720 458 704
Accumulated loss (212 454) (233 264)
Other reserves 16 251 19 259
Equity attributable to owners 265 517 244 699
Financial guarantee 31 058 –
Total non-current liabilities 31 058 –
Bank overdraft 9 851 2 749
Tax payable 844 –
Loans and borrowings – 3 844
Trade and other payables 280 397 132 972
Total current liabilities 291 092 139 565
Total equity and liabilities 587 667 384 264
Net asset value per ordinary share
(cents) 30.86 30.00
SUMMARY CONDENSED GROUP STATEMENT OF PROFIT OR LOSS
for the year ended 31 August 2015
2015 2014
R'000 R'000
Continuing operations
Revenue 131 433 93 897
Trading expenses (10 231) (7 814)
Operating expenses (76 676) (65 491)
Net income 44 526 20 592
Other income 554 218
Earnings before interest,
depreciation and amortisation 45 080 20 810
Interest income – 208
Interest expense (1 043) (1 075)
Depreciation and amortisation (2 265) (1 982)
Profit before fair value, impairment
adjustments and tax 41 772 17 961
Fair value, impairments and
guarantee adjustments 499 (31 624)
Profit/(Loss) before tax 42 271 (13 663)
Current and deferred tax (12 833) (1 379)
Profit/(Loss) from continuing
operations 29 438 (15 042)
Discontinued operations
Loss from discontinued operations,
net of tax – (2 027)
Profit/(Loss) for the year 29 438 (17 069)
Profit/(Loss) attributable to:
Owners of the company 29 438 (17 069)
Non-controlling interest – –
29 438 (17 069)
Weighted average number of ordinary shares
in Issue at end of year ('000) 839 121 815 576
Earnings per share
Basic profit/(loss) per share (cents) 3.51 (2.09)
Diluted profit/(loss) per share (cents) 3.38 (2.00)
Earnings per share – continuing operations
Basic profit/(loss) per share (cents) 3.51 (1.84)
Diluted profit/(loss) per share (cents) 3.38 (1.76)
Headline earnings
Profit/(Loss) for the year (R'000) 29 438 (17 069)
Impairment of investments, net of tax (R'000) – 703
Headline profit/(loss) for the year (R'000) 29 438 (16 366)
Headline profit/(loss) per share (cents) 3.51 (2.01)
Diluted headline profit/(loss) per share
(cents) 3.38 (1.91)
SUMMARY CONDENSED GROUP STATEMENT OF OTHER COMPREHENSIVE INCOME
for the year ended 31 August 2015
2015 2014
R'000 R'000
Profit/(Loss) for the year 29 438 (17 069)
Other comprehensive (loss)/income (623) 140
Total comprehensive income/(loss) 28 815 (16 929)
Total comprehensive income/(loss)
attributable to:
Owners of the Company 28 815 (16 929)
Non-controlling interest – –
28 815 (16 929)
SUMMARY CONDENSED GROUP STATEMENT OF CASH FLOWS
for the year ended 31 August 2015
2015 2014
R'000 R'000
Cash flows generated by operating activities 161 349 18 355
Cash flows utilised in investing activities (32 509) (2 848)
Cash flows generated/(utilised) by financing
activities 2 299 (3 670)
Net increase in cash and cash equivalents 131 139 11 837
Cash and cash equivalents at beginning
of year 131 362 119 525
Cash and cash equivalents at 31 August 262 501 131 362
SUMMARY CONDENSED GROUP STATEMENT OF CHANGES IN EQUITY
for the year ended 31 August 2015
2015 2014
R'000 R'000
Balance at beginning of year 244 699 276 028
Shares issued 6 142 –
Profit/(Loss) for the year 29 438 (17 069)
Share-based payments 2 719 1 905
Foreign currency translation reserve (623) 140
Dividend payment (8 628) –
Capital distribution (8 230) (16 305)
Balance at end of year 265 517 244 699
Readers are referred to the CFO's report for further notes and the full
annual report posted on the Company's website: www.purplegroup.co.za
These audited results are available on the company's website:
www.purplegroup.co.za
Registered office
Block B, The Offices of Hyde Park, Strouthos Place,
Hyde Park, 2196
Independent auditors
BDO South Africa Incorporated
Chartered Accountants (SA)
Registered Auditors
22 Wellington Road, Parktown, 2193
Private Bag X60500, Houghton, 2041
Group secretary
Trifecta Statutory and Governance Services, a division
of Trifecta Capital Services Proprietary Limited
31 Beacon Road, Florida North, 1709
Sponsor
Deloitte & Touche Sponsor Services Proprietary Limited
Building 8, Deloitte Place, The Woodlands
20 Woodlands Drive, Woodmead, 2196
Private Bag X6, Gallo Manor, 2052
Directors
Mark Barnes Executive Chairman
Charles Savage Chief Executive Officer
Gary van Dyk Chief Financial and Operations Officer
Dennis Alter Non-executive Director
Craig Carter Non-executive Director
Thembeka Gwagwa Independent Non-executive Director
Ronnie Lubner Non-executive Director
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