SUMMARY CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME for the year ended 31 March 2022
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| 2022 ZAR’m |
2021 ZAR’m |
|
| Profit for the year | 2 884 | 4 077 |
|---|---|---|
| Total other comprehensive income for the year: | ||
| Exchange (losses)/gains arising on translation of foreign operations1,2,3 | (32) | 44 |
| Fair value losses on investments held at fair value | – | (102) |
| Hedging reserve1 | (781) | 361 |
| – Net fair value losses4 | (570) | (898) |
| – Hedging reserve recycled to the income statement4 | (367) | 453 |
| – Net tax effect of movements in hedging reserve5 | 156 | 806 |
| Total comprehensive income for the year | 2 071 | 4 380 |
| Attributable to: | ||
| Equity holders of the group | 548 | 2 281 |
| Non-controlling interests | 1 523 | 2 099 |
| 2 071 | 4 380 |
| 1 | These components of other comprehensive income may subsequently be reclassified to the summary consolidated income statement during future reporting periods. |
| 2 | Relates to the translation of Rest of Africa and Technology segments, which have a USD reporting currency. |
| 3 | The movement relates primarily to the ZAR appreciation against the USD from a closing rate of ZAR14.78 in FY21 to ZAR14.61 in FY22. This movement is recognised in other reserves on the summary consolidated statement of changes in equity. |
| 4 | The movement relates primarily to the ZAR appreciation against the USD from a closing rate of ZAR14.78 in FY21 to ZAR14.61 in FY22 and additional forward exchange contracts executed during FY22 which resulted in a decrease in the achieved average hedge rate on cash flow hedges from ZAR16.40 in FY21 to ZAR15.89 in FY22. |
| 5 | The movement relates to tax on net fair value losses recognised in the South Africa segment as detailed in footnote 4 above which are taxed at 28%. Fair value gains/losses in the Rest of Africa segment, which offset the fair value losses in South Africa, are non-taxable. |