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AFRICAN DAWN ANNUAL REPORT 14

Notes to the Financial Statements Group Company 2014 2013 2014 2013 R '000 R '000 R '000 R '000 36. Segmental Report continued Segment Basis The Group consists of companies that specialise in either Bridging Finance , Personal and Short Term Finance or Rental and other management functions. As the activities of the company are limited to a specified segment the entire company activities are included in each of the above segments. There are no changes in the structure of the segment during the current year The Group revenue comprises of a large number of small value customers none of whom account for more than 10% of the Group revenue. 37. Guarantees The company has provided a guarantee to National Housing Finance Corporation for a loan facility of R25 Million provided to Elite Group Proprietary Limited. The outstanding balance on the loan as at 28 February 2014 was R4,5 million . In terms of the guarantee African Dawn Capital Limited will assume responsibility for the loan if Elite Group Proprietary Limited defaults on the loan. AFRICAN DAWN 7 7 ANNUAL REPORT 2014 38. Discontinued Operations Discontinued operations contribution to net profit Elite Group Proprietary Limited (365) 3,183 - - African Dawn Debt Management Proprietary Limited (1,966) (2,118) - - Nexus Personnel Finance Proprietary Limited (383) 1,098 - - (2,714) 2,163 - - Included in the discontinued operations of Elite Group Proprietary Limited is amortisation of the inteangible asset of R20,001 (2013: R9,955). The discontinued operations income statements are summarized below: Discontinued operations Revenue 31,938 27,173 - - Employee costs (14,645) (13,974) - - Depreciation and amortisation (548) (343) - - Finance costs (2,739) (1,111) - - Other expenses (16,720) (9,238) - - Pre tax profit / (loss) (2,714) 2,507 - - Taxation - (344) - - Net profit / (loss) (2,714) 2,163 - -


AFRICAN DAWN ANNUAL REPORT 14
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