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PREPARATION OF RESULTS AND

ACCOUNTING POLICIES

The financial results for the year ended

31 March 2017 have been prepared in

accordance with International Financial

Reporting Standards (IFRS) and the

requirements of the Companies Act of South

Africa No 71 of 2008 (the Act), as amended.

Except as noted in the summarised annual

financial statements and the full annual

financial statements, accounting policies are

consistent with those applied in the previous

period and IFRS.

SUMMARISED AND FULL ANNUAL

FINANCIAL STATEMENTS

The summarised annual financial statements

appear on

pages 88 to 93

of this integrated

report. The summarised annual financial

statements are not the statutory accounts of

Phuthuma Nathi Investments (RF) Limited (PN)

and do not contain all the disclosures required

by IFRS. The summarised financial statements

are also not a substitute for and should be read

together with the full annual financial

statements to obtain a complete

understanding of the results.

The summarised and full annual financial

statements have been prepared under the

supervision of the MultiChoice South Africa

Holdings group chief financial officer,

Uvashni Raman CA(SA), and have been audited

by the independent external auditor,

PricewaterhouseCoopers Inc., whose

unqualified report is available for inspection at

the registered office of the company – address

details are o

n page 103

.

The full annual financial statements for the

year ended 31 March 2017 are on our website

( www.phuthumanathi.co.za

). Printed copies

are available from the company’s secretariat

(details o

n page 103)

.

PHUTHUMA NATHI INVESTMENTS (RF) LIMITED

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Phuthuma Nathi Investments (RF) Limited 

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Integrated annual report 2017

FINANCIAL REVIEW