Operating income |
Profit from operations before |
|||||
Rm |
2016 |
% |
2015 |
2016 |
% |
2015 |
Africa continuing operations (Rm) |
||||||
SA Financial Services |
1 934 |
4 |
1 852 |
399 |
3 |
386 |
Investment Solutions |
759 |
(6) |
806 |
358 |
(12) |
407 |
AF Insurance |
451 |
11 |
407 |
123 |
17 |
105 |
AfriNet (Africa excluding South Africa) |
346 |
19 |
291 |
74 |
23 |
60 |
Accounting for the property lease |
– |
– |
– |
(30) |
(25) |
(40) |
Total Africa continuing operations (Rm) |
3 490 |
4 |
3 356 |
924 |
1 |
918 |
International continuing operations |
||||||
Total International (£m) |
90.6 |
8 |
84.2 |
13.7 |
11 |
12.3 |
International Financial Services (Rm) |
1 886 |
26 |
1 495 |
286 |
31 |
219 |
Total group continuing operations (Rm) |
5 376 |
11 |
4 851 |
1 210 |
6 |
1 137 |
Depreciation and amortisation |
Assets |
|||||
Rm |
2016 |
% |
2015 |
2016 |
% |
2015 |
Africa continuing operations (Rm) |
||||||
SA Financial Services |
16 |
13 |
75 768 |
69 655 |
||
Investment Solutions |
9 |
4 |
276 357 |
262 269 |
||
AF Insurance |
4 |
4 |
749 |
618 |
||
AfriNet (Africa excluding South Africa) |
5 |
3 |
4 331 |
3 962 |
||
Total Africa (Rm) |
34 |
42 |
24 |
357 205 |
6 |
336 504 |
Total International (£m) |
1.0 |
0.9 |
77.6 |
75.1 |
||
International Financial Services (Rm) |
20 |
25 |
16 |
1 646 |
22 |
1 343 |
Unallocated |
||||||
Corporate Services |
56 |
46 |
924 |
1 038 |
||
Discontinued operations |
11 |
1 |
145 |
178 |
||
Goodwill |
– |
– |
3 995 |
3 899 |
||
Consolidation elimination* |
– |
– |
(74 658) |
(68 815) |
||
Total group (Rm) |
121 |
39 |
87 |
289 257 |
6 |
274 147 |
This amount relates mainly to assets invested by group companies with Investment Solutions. |
The group measures segments based on operating income net of direct expenses and profit from operations before non-trading and capital items.
The above segmental view reflects the reporting segments as used by the group’s key decision-makers and is consistent with the prior year.
The following summary describes each of the group’s reportable segments:
Since April 2016, the group has formally moved to a new basis of allocating resources and managing performance which is aligned with the group’s strategy. This has resulted in a change in the responsibilities with internal management reports being presented in line with four strategic clusters.
From 1 April 2016, the group will present these strategic segments which are managed through specific cluster executive committees and are reported to the key decision-makers. The cluster units provide strategic direction for the underlying business units, with particular focus on the common client base which are served by these units. The cluster executive committees meet monthly and specifically focus on project implementation and review internal management reports. The ‘strategic’ segments are:
Within the cluster units above, business units offer different products and services, and require different technology and marketing strategies.
The new ‘strategic’ analysis for the year ended 31 March 2016 has been included in the directors’ report.