INTEGRATED ANNUAL REPORT FOR MULTICHOICE SOUTH AFRICA HOLDINGS (PTY) LTD AND PHUTHUMA NATHI INVESTMENTS 2 (RF) LTD

NOTES TO THE SUMMARISED ANNUAL FINANCIAL STATEMENTS continued for the year ended 31 March 2019 Summarised financial information of unlisted associate as per its annual financial statements FY2019 R’000 FY2018 R’000 Total assets 30 030 243 27 100 381 Total liabilities 19 729 886 18 232 072 Revenue 40 391 096 40 165 003 Cost of providing services and sale of goods (21 438 728) (21 544 531) Gross profit 18 952 368 18 620 472 Other gains 18 773 18 489 Selling, general and administration costs (8 550 206) (7 959 148) Operating profit 10 420 935 10 679 813 Finance income 310 006 320 841 Foreign exchange differences (1 541 151) 659 995 Empowerment transaction (2 564 000) – Impairment of equity-accounted investments (60 470) (201) Share of equity-accounted investment results (110 878) (96 767) Profit on sale of business – 117 756 Finance costs (644 094) (644 929) Profit before taxation 5 810 348 11 036 508 Taxation (2 344 083) (3 247 202) Net profit 3 466 265 7 789 306 Other comprehensive income 1 727 731 (485 220) Total comprehensive income 5 193 996 7 304 086 As at 31 March 2019 the company’s associate had a contingent liability of Rnil (2018: R342.7m) as an estimate of potential liabilities. 115 Phuthuma Nathi Investments 2 (RF) Limited integrated annual report 2019 FINANCIAL REVIEW