Integrated Reports Senwesbel Consolidated Financial Statements 2018 - Page 26

5.1.1 Certisure group The group has a 50% interest in the Certisure group. The core business activity is insurance broking and administrative services. The financial year-end is the same as the Senwes group financial year-end. The registered office of the company is the same as Senwes’ registered office. The following is the summarised financial information of the Certisure group: 2018 R’m 2017 R’m Statement of financial position of the Certisure group: 5 4 61 51 1 6 Trade payables (4) (4) Provisions (2) (4) Other current financial liabilities (7) (4) Equity 54 49 73 71 Non-current assets Current assets, excluding cash and cash equivalents Cash and cash equivalents 50% proportion of the group’s ownership: Carrying amount of the investment* * Includes a revaluation of R46 million recognised due to loss of control over a subsidiary (1 May 2012). The revenue and profit of the Certisure group are as follows: Revenue Operating expenses 60 62 (46) (44) 5 4 Profit before taxation 19 22 Taxation (6) (7) Profit after taxation 13 15 6 8 (4) (3) Finance income Group’s share of profit for the year Dividends received Summarised cash flows of Certisure group are as follows: 14 9 (13) 4 Used in financing activities (6) (8) Net (decrease)/increase in cash flows (5) 5 Generated from operating activities (Used in)/generated from investing activities 25 SENWESBEL ANNUAL FINANCIAL STATEMENTS 2018 Senwesbel Limited Reg no: 1996/017629/06