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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
175
NOTES TO THE GROUP ANNUAL FINANCIAL STATEMENTS
CONTINUED
For the year ended 31 May 2014
2014
R’000
2013
R’000
16.
BORROWINGS
Interest-bearing borrowings
2 653
1 980
Non-interest-bearing borrowings
12 437
12 017
15 090
13 997
Less:
Amounts included in current portion of borrowings
(15 090)
(13 997)
—
—
The Group did not default on any loans or breach any terms of the
underlying agreements during the period. Borrowings are unsecured and
have no fixed terms of repayment. Interest-bearing borrowings bear
interest at prime + 2%.
17.
REVENUE
Prepaid airtime
18 212 159
17 836 001
Starter packs
582 618
601 110
Services
276 018
282 312
Electricity commission
153 460
113 434
Other revenue*
177 411
151 353
19 401 666
18 984 210
* Other revenue primarily comprises mobile handset sales, meter installations, device
rentals and ticket sales.
18.
EMPLOYEE COMPENSATION AND BENEFIT EXPENSE
Salaries and wages
286 212
257 447
Bonuses
34 563
58 455
Equity compensation benefit
11 069
16 180
Other
698
819
332 542
332 901
Average number of employees for the year was 1 186 (2013: 1 157).