The group operates through three strategic business units: Mining services, Equipment sales and rental and Construction materials.
The mining services business unit provides opencast mining services, bulk earthworks and rehabilitation services. The Equipment sales and rental unit was formed after the restructure of Buildmax Equipment (Pty) Limited to focus on the efficient disposal of the group’s secondhand equipment as well as
short-term rental of equipment to preferred customers.
The construction materials strategic business unit consists of three divisions that have been aggregated due to their similar nature and similar economic characteristics. Aggregates and Quarries comprises the group’s quarrying activities and distribution of sand and building materials. Bricks and Blocks produce a wide range of cement products, including pavers, masonry bricks and blocks, retaining wall blocks, kerbs and other pre-cast products. Building materials manufacture and distribute rainwater goods including gutters, downpipes, flashing, ridging and other accessories.
| Mining services | Equipment | |||||||
| Continuing operations | Discontinued operations | Total | sales and rental | Construction materials | Corporate | Eliminations | Total | |
| R’000 | R’000 | R’000 | R’000 | R’000 | R’000 | R’000 | R’000 | |
| 28 February 2011 | ||||||||
| Revenue | ||||||||
| External revenue | 825 011 | 69 669 | 894 680 | 84 748 | 389 786 | – | 1 369 214 | |
| Inter-segment revenue | 1 079 | – | 1 079 | 19 579 | 957 | – | (21 615) | – |
| 826 090 | 69 669 | 895 759 | 104 327 | 390 743 | – | (21 615) | 1 369 214 | |
| Operating profit before depreciation and amortisation | 71 242 | 15 678 | 86 920 | 36 068 | 9 713 | – | – | 132 701 |
| Depreciation | (135 334) | (25 207) | (160 541) | (22 473) | (23 681) | – | – | (206 695) |
| Operating profit before amortisation | (64 092) | (9 529) | (73 621) | 13 595 | (13 968) | – | – | (73 994) |
| Amortisation of intangible assets | (4 550) | – | (4 550) | – | (6 748) | – | – | (11 298) |
| Operating (loss/profit) | (68 642) | (9 529) | (78 171) | 13 595 | (20 716) | – | – | (85 292) |
| Impairment losses | ||||||||
| – Property, plant and equipment | (16 574) | (21 313) | (37 887) | – | (1 986) | – | – | (39 873) |
| – Goodwill | (64 758) | – | (64 758) | – | (98 979) | – | – | (163 737) |
| – Other intangible assets | (59 190) | – | (59 190) | – | (32 920) | – | – | (92 110) |
| – Investment in subsidiaries | – | – | – | – | – | (3 100) | 3 100 | – |
| – Amounts owing by subsidiaries | – | – | – | – | – | (85 246) | 85 246 | – |
| (Loss)/profit before interest and taxation | (209 164) | (30 842) | (240 006) | 13 595 | (154 601) | (88 246) | 88 246 | (381 012) |
| Segmental assets and liabilities | ||||||||
| PPE and other segmental assets | 575 020 | – | 575 020 | 50 105 | 328 441 | 467 834 | (464 074) | 957 326 |
| Goodwill | – | – | – | – | 27 111 | – | – | 27 111 |
| Other intangible assets | – | – | – | – | 71 393 | – | – | 71 393 |
| Assets classified as held for sale | 32 955 | 19 114 | 52 069 | – | 1 474 | – | – | 53 543 |
| Segmental interest-bearing liabilities | (190 112) | – | (190 112) | (39 580) | (46 958) | – | – | (276 650) |
| Other segmental liabilities | (544 034) | – | (544 034) | (196 666) | (349 356) | (13 832) | 840 586 | (263 302) |
| Liabilities directly associated with assets classified as held for sale |
(5 965) | (12 858) | (18 823) | – | (474) | – | – | (19 297) |
| Segmental net asset value | (132 136) | 6 256 | (125 880) | (186 141) | 31 631 | 454 002 | 376 512 | 550 124 |
| Segmental capital additions during the year | 69 091 | – | 69 091 | 10 431 | 10 322 | 106 | – | 89 950 |
| Mining services | Equipment | |||||||
| Continuing operations | Discontinued operations | Total | sales and rental | Construction materials | Corporate | Eliminations | Total | |
| R’000 | R’000 | R’000 | R’000 | R’000 | R’000 | R’000 | R’000 | |
| 28 February 2010 | ||||||||
| Revenue | ||||||||
| External revenue | 816 561 | 564 678 | 1 381 239 | – | 424 345 | – | – | 1 805 584 |
| Inter-segment revenue | 281 | 3 143 | 3 424 | – | 5 369 | – | (8 793) | – |
| 816 842 | 567 821 | 1 384 663 | – | 429 714 | – | (8 793) | 1 805 584 | |
| Operating profit before depreciation and amortisation | 182 411 | 12 477 | 194 888 | – | 32 652 | – | – | 227 540 |
| Depreciation | (112 382) | (44 770) | (157 152) | – | (18 938) | – | – | (176 090) |
| Operating profit before amortisation | 70 029 | (32 293) | 37 736 | – | 13 714 | – | – | 51 450 |
| Amortisation of intangible assets | (13 702) | – | (13 702) | – | (8 056) | – | – | (21 758) |
| Operating profit/(loss) | 56 327 | (32 293) | 24 034 | – | 5 658 | – | – | 29 692 |
| Loss on disposal of business unit | – | – | – | – | (2 467) | – | – | (2 467) |
| Impairment losses | ||||||||
| – Property, plant and equipment | (269 954) | (141 549) | (411 503) | – | (10 375) | – | – | (421 878) |
| – Goodwill | (71 765) | (103 828) | (175 593) | – | (444 137) | – | – | (619 730) |
| – Other intangible assets | – | (18 176) | (18 176) | – | (9 382) | – | – | (27 558) |
| – Investments in subsidiaries | – | – | – | – | – | (762 853) | 762 853 | – |
| – Amounts owing by subsidiaries | – | – | – | – | – | (176 482) | 176 482 | – |
| Loss before interest and taxation | (285 392) | (295 846) | (581 238) | – | (460 703) | (939 335) | 939 335 | (1 041 941) |
| Segmental assets and liabilities | ||||||||
| PPE and other segmental assets | 735 402 | 354 607 | 1 090 009 | – | 305 172 | 223 478 | (213 293) | 1 405 366 |
| Goodwill | 64 758 | – | 64 758 | – | 126 090 | – | – | 190 848 |
| Other intangible assets | 63 738 | – | 63 738 | – | 111 063 | – | – | 174 801 |
| Segmental interest-bearing liabilities | (359 689) | (176 890) | (536 579) | – | (85 980) | – | – | (622 559) |
| Other segmental liabilities | (430 442) | (148 362) | (578 804) | – | (269 056) | (61 227) | 389 775 | (519 312) |
| Segmental net asset value | 73 767 | 29 355 | 103 122 | – | 187 289 | 162 251 | 176 482 | 629 144 |
| Segmental capital additions during the period | 94 211 | 70 015 | 164 226 | – | 32 622 | 141 | – | 196 989 |
No geographical information is presented as the group operates predominately in the Republic of South Africa.
