188 / 280
NOTES TO THE GROUP ANNUAL FINANCIAL STATEMENTS
CONTINUED
For the year ended 31 May 2014
186
BLUE LABEL INTEGRATED ANNUAL REPORT 2014
26.
BUSINESS COMBINATIONS (continued)
26.1 Acquisition of subsidiary (continued)
Blue Label
Engage
Proprietary
Limited
R’000
Panacea
Mobile
Proprietary
Limited
R’000
TicketPros
Proprietary
Limited
R’000
Date acquired
% acquired
Facilitator
of loyalty
programmes
1 September
2012
50.1
SMS
aggregator
1 September
2012
51
Ticketing
solution
5 April
2013
60
At 31 May 2013
Assets
6 727
21 634
9 748
Liabilities
8 922
15 158
4 641
Revenue since acquisition
7 443
25 456
2 858
(Loss)/profit after tax since acquisition
(2 180)
4 476
187
Had the acquisitions of subsidiaries taken place at the beginning of the financial year, they would have
contributed R51.1 million to revenue and R4.1 million to net profit after tax. The actual contribution to
revenue and net profit after tax for the year was R35.8 million and R2.5 million respectively.
The fair value of the net assets approximated the assets acquired on acquisition date.