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INTRODUCTION ABOUT US MANAGEMENT APPROACH
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30, 2022
33.
34.
35.
HOLDING COMPANY
The Directors regard IBL Ltd incorporated in Mauritius as the holding company. Its registered address is 4th Floor, IBL House, Caudan Waterfront, Port Louis.
EVENTS AFTER REPORTING DATE
In reference to the communiqué dated June 23, 2022 concerning the acquisition of a group of companies operating in a similar line of business of the Company in Reunion Island, a Share Purchase Agreement (SPA) was signed on July 07, 2022 . The transaction is subject to the satisfactory completion of conditions precedent, the obtention of all regulatory, corporate and any other approvals required by the parties. The transaction will enable the UBP Group to expand its principal activities within the Indian Ocean.
The Company has acquired land and buildings amounting to Rs 130.5m after the year end.
SEGMENTAL INFORMATION
Operating segment information
The building materials segment is involved in the manufacture and sale of building materials which consists principally of aggregates, rocksand, hollow concrete blocks and various concrete building components which constitutes our core business.
The retail business under the building materials segment consist of the sale of roof tiles, imported floor and wall tiles, sanitary ware and a complete range of home building products and garden accessories.
The agriculture segment is involved in the cultivation of sugar cane, vegetables, plants and landscaping services.
Management monitors the operating results of its business units separately for the purpose of making decisions about resource allocation and performance assessment. Segment performance is evaluated based on operating profit or loss and is measured consistently with operating profit or loss in the consolidated financial statements.
Transfer prices between operating segments are on an arm’s length basis in a manner similar to transactions with third parties.
2022
Building materials
Core Retail business
Rs’000 Rs’000
THE GROUP
Agriculture
Rs’000
123,790
(5,201)
1,016 - - (8,426) -
(12,611) -
(12,611)
-
-
(12,611)
Consolidation adjustments
Rs’000
(338,144)
(12,520)
- (340,686) 158,236 (38,739) 10,678
(223,031) -
(223,031)
-
-
(223,031)
Total
Rs’000
3,993,473
215,696
(23,281) (340,686) 158,236 (56,370) 10,678
(35,727) (1,622)
(37,349)
(19,364)
(10,840)
(67,553)
Continuing operations
Revenue 1,200,934 3,006,893
Operating profit / (loss) 70,968 162,449
Allowance for expected credit losses on financial
assets 172 (24,469)
Impairment of assets
Gain on deemed disposal of associate
Net finance costs
Share of results of associates
Profit / (loss) before taxation
Income tax expense
Profit / (loss) after taxation
Discontinuing operations
Loss from discontinuing operations
Non-controlling interests
Profit / (loss) for the year attributable to the parent
- -
- - (13,816) 4,611 - -
57,324 142,591 - (1,622)
57,324 140,969
- (19,364)
- (10,840)
57,324 110,765
202
UBP INTEGRATED REPORT 2022