Balance Sheets

as at 30 June 2005

		GROUP		COMPANY
			Restated		Restated
		2005	2004	2005	2004
	Notes	R'000	R'000	R'000	R'000
ASSETS
Property, plant and equipment	9	279 718	248 919	–	–
Goodwill and intangible assets	10	456 326	115 787	–	–
Investments in subsidiaries	11			562 721	418 088
Investments in associated companies	12	10 940	8 062	–	–
Other investments	13	12 603	5 524	91 208	82 159
Deferred tax asset	14	151 417	173 262	13 657	12 539
Non-current assets		911 004	551 554	667 586	512 786
Inventories	15	51 767	39 569	–	–
Trade and other receivables	16	407 789	333 332	353	175
Bank balances and cash		4 368	65 997	–	–
Current assets		463 924	438 898	353	175
TOTAL ASSETS		1 374 928	990 452	667 939	512 961
EQUITY AND LIABILITIES
Share capital and premium	17	274 717	351 362	292 119	368 910
Non-distributable reserves	18	260 805	305 119	230 573	89 648
Accumulated loss		(128 323)	(339 322)	1 175	(25 642)
		407 199	317 159	523 867	432 916
Minority interest		80 927	16 238
Total shareholders' funds		488 126	333 397	523 867	432 916
Interest bearing borrowings	19	192 745	61 912	–	–
Landlord inducement premium	20	21 384	17 047	–	–
Long-term provisions	21	22 699	24 928	–	–
Loan from jointly controlled entity	11			22 693	–
Deferred tax liability	14	63 125	272	–	–
Non-current liabilities		299 953	104 159	22 693	–
Bank overdrafts		10 779	–	103 550	70 573
Other current liabilities	22	576 070	552 896	17 829	9 472
Current liabilities		586 849	552 896	121 379	80 045
TOTAL EQUITY AND LIABILITIES		1 374 928	990 452	667 939	512 961
Net asset value per share (cents)		184	146