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BUSINESS MODEL
AND STRATEGIC
OBJECTIVES
LEADERSHIP
GOVERNANCE
OPERATING
PERFORMANCE
SHAREHOLDERS’
INFORMATION AND
ADMINISTRATION
FINANCIAL
PERFORMANCE
BLUE LABEL INTEGRATED ANNUAL REPORT 2014
157
NOTES TO THE GROUP ANNUAL FINANCIAL STATEMENTS
CONTINUED
For the year ended 31 May 2014
6.
INVESTMENTS IN AND LOANS TO ASSOCIATES AND JOINT VENTURES (continued)
Associate
Smart Voucher Limited
trading as Ukash
Oxigen Services India
Private Limited
Principal activity
Online cash
payment provider
Airtime and payment
solution provider
Country of incorporation
United Kingdom
India
2014
R’000
2013**
R’000
2014
R’000
2013**
R’000
Statement of comprehensive
income
Revenue
498 975
357 247
3 860 132
3 044 819
Operating profit before depreciation,
amortisation and impairment charges
93 337
71 305
10 803
13 685
Depreciation and amortisation
(13 747)
(18 356)
(15 212)
(13 329)
Finance costs
(5)
(7)
(6 282)
(5 954)
Finance income
891
1 566
3 914
3 696
Net profit before taxation
80 476
54 508
(6 777)
(1 902)
Taxation
(17 621)
(12 240)
940
888
Net profit after taxation
62 855
42 268
(5 837)
(1 014)
Other comprehensive income
27 645
21 985
(326)
(4 573)
Total comprehensive income
90 500
64 253
(6 163)
(5 587)
Effective percentage held
17.25
17.25
55.83
55.83
Share of total comprehensive income
15 611
11 084
(3 441)
(3 119)
** Summarised information has been restated to reflect adjustments made by the Group when applying the equity method as
required by IFRS 12. Previously the information was presented before any adjustments in accordance with IAS 28.