Statement of financial position
as at 30 September 2025
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Restated
#
Restated
#
(R'million)
Notes
2025
2024
2023
ASSETS
Non-current assets
Property, plant and equipment
4.1
5,946
5,782
5,841
Right-of-use assets^
4.2
315
414
349
Goodwill
5.1
1,612
1,652
1,660
Intangible assets
5.1
1,245
1,369
1,401
Investments
778
3,906
3,673
Investments in associated companies
5.2
313
3,347
3,092
Other investments
4.4
454
546
563
Loans
4.5
11
13
18
Deferred taxation asset
3.2
–
36
44
Current assets
15,088
13,423
13,037
Inventories
4.6
6,042
7,423
7,504
Trade and other receivables
4.7
4,170
4,277
4,632
Tax receivable^
26
67
22
Short-term investments
4.8
1,781
31
35
Cash and cash equivalents
10.7
3,069
1,625
844
Assets classified as held for sale
13.2
1,971
41
–
Total assets
26,955
26,623
26,005
EQUITY AND LIABILITIES
Issued capital and reserves
16,984
18,210
17,341
Ordinary share capital and share premium
7.2
17
18
18
Non-distributable reserves
361
3,234
3,028
Accumulated profits
18,330
16,849
15,968
Tiger Brands Limited shares held by subsidiary
7.4
(813)
(933)
(718)
Tiger Brands Limited shares held by empowerment entities
7.4
(1,456)
(1,463)
(1,473)
Share-based payment reserve
9.2
545
505
518
Non-controlling interests
255
217
201
Total equity
17,239
18,427
17,542
Non-current liabilities
743
891
1,739
Deferred taxation liability
3.2
257
360
312
Post-retirement medical aid obligations – long term^
9.4
245
228
216
Long-term borrowings
8.2
241
303
1,211
Current liabilities
8,626
7,305
6,724
Trade and other payables
4.9
6,293
4,880
4,373
Rebates and incentives accruals^
4.10
1,040
929
900
Employee-related accruals
4.11
564
465
428
Post-retirement medical aid obligations – short term^
9.4
25
23
22
Taxation
588
69
117
Short-term borrowings
8.3
116
939
884
Liabilities directly associated with assets classified as held for sale
13.2
347
–
–
Total equity and liabilities
26,955
26,623
26,005
Refer to note 12 for prior period restatements
