2003/2004 SUBSIDY

2003/2004 SUBSIDY

30-04-02 (2)

SA POST OFFICE LIMITED

GOVERNMENT FUNDED PROJECTSAS AT 31 May 2002

AMOUNT2001/2002AMOUNTTRANSFERTRANSFERDRAW DOWNRECOVERYYTDMar-01Apr-02May-02Jun-02Jul-02Aug-02Sep-02Oct-02Nov-02Dec-02Jan-03Feb-03Mar-03

RECEIVEDEXPENSESAVAILABLETO USO MAILSTRIKE(OVER)

DELIVERYSETTLEMENT

R'000R'000R'000R'000R'000R'000R'000R'000R'000R'000R'000R'000R'000R'000R'000R'000R'000R'000R'000R'000R'000

2.0UNIVERSAL SERVICE OBLIGATIONS1021000009249944496005562640444960055696872000-4372556924994448925900032404440000000000

2.1USO - POST OFFICES843000007742800068720002640444423155684300000-68720007742800077428000

2.2USO - MAIL DELIVERY1080000013440444-264044410800000264044413440444108000002640444

2.3PIT570000060000051000005100000840000-2400006000000600000

2.4CPO130000010310002690002690009320009900010310001031000

4.0RE-ENGINEERING PROJECTS20000002570001743000017430002000000-174300025700025700000000000000

4.511 SEPTEMBER 20022000000257000174300017430002000000-1743000257000257000

30-05-02


GOVERNMENT FUNDED PROJECTSAS AT 30 JUNE 2002

AMOUNT2001/2002AMOUNTDRAW DOWNRECOVERYYTDMar-01Apr-02May-02Jun-02Jul-02Aug-02Sep-02Oct-02Nov-02Dec-02Jan-03Feb-03Mar-03

RECEIVEDEXPENSESAVAILABLE(OVER)

R'000R'000R'000R'000R'000R'000R'000R'000R'000R'000R'000R'000R'000R'000R'000R'000R'000R'000R'000

600000000237290082362709918267661477-303713952372900821801775003871746427336000000000

1.1HUMAN RESOURCES15000000013105400018946000148153825-170998251310540007824050000000000000

1.1.1SURPLUS EMPLOYEES150000000789540007104600096053825-170998257895400078240500713500

1.1.2STRIKE SETTLEMENT52100000-521000005210000005210000052100000


2.1USO - POST OFFICES8430000077428000687200084300000-68720007742800077428000


2.3PIT57000006000005100000840000-2400006000000600000

2.4CPO130000010310002690009320009900010310001031000

3.0INFRASTRUCTURE239900000196562398803445000000-4980344196560196560000000000

3.1POSTLINK4880000004880000000

3.2PROPERTIES00

UPGRADING POST OFFICES4200000004200000000

CANCELLATATION OF LEASE AGREEMENTS73000000730000000

MAINTENACE OF NATIONAL MONUMENTS68000000680000000

MOVE OF HEAD OFFICE TO KROMDRAAI5000000050000005000000-50000000

3.3SECURITY2000000002000000000

3.4E- COMMERCE500000001965649980344196561965619656

3.5AUTOMATION OF HUBS6000000006000000000


4.1ADDRESSING CONTROL ENVIRONMENT310000003859982271400186035652-217567038599822821000611646427336

4.2BRANDING2000000002000000000

4.3POSTBANK2200000002200000000

4.4ADDRESS EXPANSION34000000340000000

4.511 SEPTEMBER 2002200000025700017430002000000-1743000257000257000

4.6AIRWORLD CONTRACT9600000960000009600000096000009600000

4.7INSTITUTE OF EXCELLENCE2000000002000000000

Summary (2)


GOVERNMENT FUNDED PROJECTSAS AT 30 APRIL 2002

AMOUNT2001/2002AMOUNTDRAW DOWNRECOVERY


/ UNDER

R'000R'000R'000R'000R'000

600000000226106229373893771267661477-41555248

1.1HUMAN RESOURCES15000000013034000019660000148153825-17813825




2.1USO - POST OFFICES8430000077427785687221584300000-6872215


2.3PIT57000006000005100000840000-240000

2.4CPO1300000103100026900093200099000

3.0INFRASTRUCTURE23990000002399000005000000-5000000

0

3.1POSTLINK488000000488000000

3.2PROPERTIES611000000611000005000000-5000000





3.3SECURITY20000000200000000

3.4E- COMMERCE50000000500000000



4.1ADDRESSING CONTROL ENVIRONMENT310000006850281241497196035652814629

4.2BRANDING200000000200000000

4.3POSTBANK22000000220000000


4.511 SEPTEMBER 2002200000025716317428372000000-1742837



2004-05


GOVERNMENT FUNDED PROJECTS :

2004/2005 FINANCIAL YEAR

R'0002003/2004

REALLOCATIONS

AMOUNT BROUGHT FORWARD116635247

Projects carried forwarded 2003/200480635000

Server consolidation75000000

Upgrading of post offices5635000

Subsidy available36000247

SUBSIDY 2004/2005300000000

336000247247

R'000

0

1.0HUMAN RESOURCES600000000

1.1.1SURPLUS EMPLOYEES70000000

2.0UNIVERSAL SERVICE OBLIGATIONS1500000000

2.1USO - POST OFFICES100000000

2.2PIT50000000

3.0RETAIL OPERATIONS0

3.1REBALANCING OF NETWORK

REBALANCING OF NETWORK-CAPEX

3.1UPGRADING/ REBALANCING OF NETWORK

UPGRADING OF RETAIL NETWORK:CAPEX

3.2CONVERSION OF OFFLINE POST OFFICES

CONVERSION OF OFFLINE:CAPEX

3.0SYSTEMS IMPROVEMENTS & ENHANCEMENTS8000000040000000

3.1SAP UPGRADE & ENHANCEMENTS

3.2TRACK & TRACE SYSTEM

3.3FIXED ASSETS PROJECT

3.4FINANCIAL SWITCH

5.0ECT BILL & RELATED ACTIVITIES-5000000

5.1BIOMETRIC SYSTEM-5000000

BIOMETRIC SYSTEM -CAPEX

5.2EBPP PLATFORM

5.3FINANCIAL SWITCH

FINANCIAL SWITCH : CAPEX

4.0MAIL OPERATIONS-40000000

4.1RATIONALISATION OF HUBS

4.2AUTOMATION OF HUBS

4.3HYBRID MAIL

4.0UPGRADING OF POST OFFICES2000000012000000

7.1SHARED SERVICES

7.2SAPO12000000

5.0RESTRUCTURING SAPO25307000

6.0CONTINGENCIES693000-7000000

336000000

RECONCILIATION

TOTAL AS ABOVE0

AMOUNT NOT CLAIMED0

Capex0

opex0

SUBSIDY RECOGNISED0

SAP -80650100 GSP RECOVERY231916113

DIFFERENCE0

RECONCILIATION TO BALANCE SHEET

ACCORDING BALANCE SHEET : 16122200189468727

0

ACCORDING TO UTILISATION STATEMENT0

SUBISIDY NOT RECEIVED-75000000

DIFFERENCE0

AMOUNTS NOT CLAIMED0

0

Recon

SA POST OFFICE

GOVERNMENT FUNDED PROJECTS RECONCILIATION31-Mar-03

R'000

Recognised in income statement482645000

0

GSP expenses

Voluntray retirement packages

REDUCTION OF BENEFITS

USOMAIL

PIT

Postbank

DIFFERENCE482645000

Balance sheet218104456

Subsidy carried forward419823000

Received300000000

719823000

Utilised0

Balance sheet0

SUBSIDY UTILISED FOR5075694700

GSP expenses70115867

Early retirements252298828

Reduction of benefits52100000

USO113982000

Assets19072775

ASSETS


GOVERNMENT FUNDED PROJECTS

AS AT 31 MARCH 2004ASSETS

CONTROL

41,406,65641,406,6560

UPGRADING OF PO

12,579,5884,700,500

JNL MAY 2003313,3821,472,507JNL MARCH1,016,069

JNL MAY 2003261,151367,321

JNL MAY 2003804,375210,860

JNL MAY 200393,599376,963

JNL JULY 200352,4911,891,393263,317

JNL JULY 200348,599276,643

JNL JULY 2003193,494372,121

JNL JULY 200374,665317,019

JNL JULY 2003577,339273,817

JNL JULY 2003219,218362,840

JNL JULY 2003370,360127,261

JNL JULY 200323,651339,053

JNL JULY 2003331,576238,109

JNL FEB1,197,65547,519

JNL FEB193,62337,455

JNL FEB722,67612,401

JNL FEB1,392,7404,163

JNL FEB182,9493,838

JNL FEB92,5678,235

JNL FEB39,0339,986

JNL FEB253,4343,781

JNL FEB887,76615,237

JNL FEB145,3943,838

58,4655,166,3044,163

JNLS REVERESED(651,117)2,154

6,338

REBALANCING NETWORK18,532,916

JNL JULY 2003392,618

JNL JULY 2003352,225

JNL JULY 2003500,368

JNL JULY 2003194,797

JNL JULY 2003448,361

JNL JULY 2003495,562

JNL JULY 200324,475

JNL JULY 200346,342

JNL JULY 2003331,209

JNL JULY 2003384,243

JNL JAN 20045,791

JNL JAN 2004387,001

JNL JAN 20044,163

JNL JAN 2004413,399

JNL JAN 2004620,269

JNL JAN 2004345,022

JNL JAN 200410,221

JNL JAN 20046,2591,792,125

JNL FEB13,570,59213,570,592

CONVERT OFFLINE OFICES451,542

JNL OCTB 2003370,842

JNL JAN 200480,700

FINANCIAL SWITCH1,735,873

JNL MAY 20031,249,999

JNL OCT 2003160,875

JNL NOV 2003324,999

BIOMETRIX7,811,295

JNL MAY38,210

JNL MAY31,763

JNL OCT22,499

JNL OCT370,799

JNL OCT153,999

JNL OCT264,429

JNL OCT47,039

JNL OCT1,399,719

JNL OCT17,396

JNL JAN2,447,999

JNL JAN1,799,950

JNL JAN380,519

JNL JAN35,999

JNL JAN71,999

JNL JAN109,999

JNL JAN124,800

JNL FEB408,000

JNL MARCH86,177

E-BDN295,442

JNL FEB295,442.00

31-03-2004


GOVERNMENT FUNDED PROJECTS :31 MARCH 2004

INITIAL

AMOUNT

RECEIVED

R'0002003/20042003/20042003/20042003/2004AMOUNTYTDApr-03May-03Jun-03Jul-03Aug-03Sep-03Oct-03Nov-03Dec-03Jan-04Feb-04Mar-04Mar-04Mar-04YTDYTDYTD

SUBSIDYREALLOCATIONSSUBSIDYYTDAVAILABLE01/04/200422/04/2004UNCLAIMEDOPSCAPITAL

0EXPENSES

R'000R'000R'000R'000R'000R'000R'000R'000R'000R'000R'000R'000R'000R'000R'000R'000R'000R'000R'000R'000R'000R'000R'000

5142160000514216000397580753116635247397580753027924793495064214956686559651761053000428518808402227099434190908583442741908137760257441723770037623132141406656

1.1HUMAN RESOURCES1500000001461750000146175000137098471907652913709847132938065070503131420019760416275685284392441306396648001370984710137098471



2.1USO - POST OFFICES843000001112590001112590001112590000111259000305544971177818197248561041150782025701055785594341901028755110307793111259000111259000

2.2USO - MAIL DELIVERY1080000015000000150000001500000001500000015000000150000000


3.1REBALANCING OF NETWORK4880000000000

REBALANCING OF NETWORK-CAPEX23233416-2323341623233416317019917921251357059247005002323341623233416

3.1UPGRADING/ REBALANCING OF NETWORK031031330-3103133031031330459481026309305273503086432401068818057448845231031330

UPGRADING OF RETAIL NETWORK:CAPEX7879088-78790887879088147250718913935166304-6511177879088

3.2CONVERSION OF OFFLINE POST OFFICES608056080532609564178-540132415060805

CONVERSION OF OFFLINE:CAPEX200000000451542-45154245154237084280700451542

3.3NETWORK UPGRADE

00

4.0SYSTEMS IMPROVEMENTS0600000004000000010000000017647551823524491764755100848481160058642383748111441758491001036496120311023067409750209001417591729544214471359

4.1SAP UPGRADE & ENHANCEMENTS3100000002844354-2844354284435463326279440117016013314282844354

4.2E-BDN30000000285919-2859192859191127625581532521490117343285919

E-BDN - CAPEX295442295442295442295442

4.3TRACK & TRACE SYSTEM600000003100000-3100000310000031000003100000

4.4FIXED ASSETS PROJECT800000001465603-146560314656037481795514469001465603

4.5E-PROCUREMENT400000006480041-64800416480041837205157500642383105109158491058584990617811365805783466480041

4.6POSTBANK3176192-317619231761923176192

4.7SERVER CONSOLIDATION

10000000

5.0ECT BILL & RELATED ACTIVITIES45000000-5000000400000002288088917119111228808890131997235831573000075982801511924427843249990870014259141207998660013333721954716822880889

5.1BIOMETRIC SYSTEM-5000000-500000012429909-1742990912429909358315648800759828015119179372887737007663912429909

BIOMETRIC SYSTEM -CAPEX7811295-781129578112956997322758804971265408000861777811295

5.2EBPP PLATFORM0885162-88516288516281200179712624250885162

5.3FINANCIAL SWITCH018650-186501865058501280018650

FINANCIAL SWITCH : CAPEX01735873-1735873173587312499991608753249991735873

0

6.0MAIL OPERATIONS50000000-4900000010000002100617899392100610000000000348204669012855102100610210061

6.1RATIONALISATION OF HUBS00000


6.3REFURBISHMENT OF LOBBY BOXES0210061-2100612100613482046690128551210061


7.1SHARED SERVICES224250022425002242500

7.2SAPO21000000285861003189349952388447407708228097290400028586100

000

8.0CONTINGENCIES7782000-7000000782000078200000

BALANCE B/F116635247

PROJECTS CARRIED OVER80635000


Upgrading properties5635000

BALANCE C/F36000247

RECONCILIATION

TOTAL AS ABOVE397580753

AMOUNT NOT CLAIMED41406656

Capex41406656

opex0

SUBSIDY RECOGNISED356174097


DIFFERENCE1



116635247


SUBISIDY NOT RECEIVED

DIFFERENCE-401


-401

Sub Hist

SUBSIDY HISTORY

FYCarry B/FSubsidyTotalUtilisedCarry forwarded

2001/20020600,000600,000180,177419,823

2002/2003419,823300,000719,823505,607214,216

2003/2004214,216300,000514,216478,21636,000

2004/200536,000300,000336,000

2001/2002

Human resources78,241

USO89,259

Re-engineering projects12,678

180,177

2002/2003


USO113,982

Infrastructure21,797


Other10,167

505,607

2003/2004


USO126,259



Restructuring30,829

478,216

2004/2005


USO150,000



Restructuring26,000

336,000

Sub Hist (2)

2001/2002


USO126,259



Restructuring30,829

478,216

2002/2003

Sub Hist (2)

31-03-2004 (2)



INITIAL

AMOUNT

RECEIVED



0EXPENSES


514216000051421600047821575336000247397580753027924793495064214956686559651761053000428518808402227099434190908583442741908137760257441723770037623132141406656

1.1HUMAN RESOURCES1500000001461750000146175000137098471907652913709847132938065070503131420019760416275685284392441306396648001370984710137098471



2.1USO - POST OFFICES843000001112590001112590001112590000111259000305544971177818197248561041150782025701055785594341901028755110307793111259000111259000









3.3NETWORK UPGRADE

00



4.2E-BDN30000000285919-2859192859191127625581532521490117343285919

E-BDN - CAPEX295442295442295442295442



4.5E-PROCUREMENT400000006480041-64800416480041837205157500642383105109158491058584990617811365805783466480041

4.6POSTBANK3176192-317619231761923176192


10000000




5.2EBPP PLATFORM0885162-88516288516281200179712624250885162



0

6.0MAIL OPERATIONS50000000-4900000010000002100617899392100610000000000348204669012855102100610210061





7.1SHARED SERVICES224250022425002242500

7.2SAPO21000000285861003189349952388447407708228097290400028586100

000

8.0CONTINGENCIES7782000-7000000782000078200000

BALANCE B/F36000247




BALANCE C/F-44634753

RECONCILIATION



Capex41406656

opex0



DIFFERENCE80635001



36000247



DIFFERENCE80634599


80634599

REALLOCATIONS

31 JANUARY 2004 : REALLOCATIONS

REQUIRED

R'000

SAPO RESTRUCTURING7000000


SYSTEMS IMPROVEMENT40000000

52000000

TRANSFERRED FROM

CONTINGENCIES-7000000

MAIL OPERATIONS-40000000

ECT BILL & RELATED ACTIVITIES-5000000

-52000000

0

31 March 2004REQUIRED

R'000

SAPO restructuring9000000

9000000

TRANSFERRED FROM

Mail ops9000000

9000000

SKILLS LEVY


SKILLS LEVY (19001900) : 29 FEBRUARY 2004

Apr-03May-03Jun-03Jul-03Aug-03Sep-03Oct-03Nov-03Dec-03Jan-04Feb-04Mar-04YTDSAPVAR

Amount received0000007,025,680542,89600007,568,575

Expenses

Training000000001,436,878001,436,8781,558,022121,145

Rent0000000388,000116,000116,000116,000736,000504,000(232,000)

Domestic services000000014,8845,1446,324026,35321,208(5,145)

Consumables0000000325,500000325,500325,500

Management advice00000008,4000008,4008,400

0000000736,7841,558,022122,324116,00002,533,1302,417,130(116,000)

Assets

Computers - Datacentrix000000757,997000757,997

Furnishing00000000001,720,5371,720,537

Leasehold improvements0000000000444,186444,186

000000757,9970002,164,723002,922,720

Total opex and capex5,455,850

Balance2,112,725

RE-engineering projects

4.0 Re-engineering projects

4.1 Adressing control environmentR31 million

R'000R'000R'000R'000R'000R'000R'000R'000R'000R'000R'000R'000R'000

2001/2002YTDMar-01YTDApr-02May-02Jun-02Jul-02Aug-02Sep-02Oct-02Nov-02Dec-02Jan-03Feb-03Mar-03TOTAL

AMOUNTEXPENSESAMOUNT

RECEIVEDAVAILABLE

R'000R'000R'000

0

Repositioining of banking and treasury3000000187822611217741877826101682843049902150002150004996755652

Fixed asset projects60000002349005765100234900234900006469800

Procurement policy80000001,587,534641246615875340793,76779376711,175,068

Accounting functions40000001968224203177619682243874007904123966462123361814307936448

Fleet management100000001181397881860311813971181397012362794

3100000068502812414971968498812820525201467806116464273369756960000000044699762

4.2 BrandingR20 million

2001/2002May-02Jun-02Jul-02Aug-02Sep-02Oct-02Nov-02Dec-02Jan-03Feb-03Mar-03TOTAL

Operational0

Capital0

0

0

0

0000000000000

4.3 PostbankR22 million


Network improvement0

Customer awareness0

0

0

0000000000000

4.4 Address expansionR3.4 million


Operational0

Capital0

0

0

0

0000000000000

4.5 11 September related expensesR2.0 million


AMOUNT2001/2002AMOUNT

RECEIVEDEXPENSESAVAILABLE

R'000R'000R'000

Operational200000025716317428372,000,000

Capital0

0

0

0

2000000257163174283700000000000

4.6 Airworld contractR9.6 million




R'000R'000R'000

Operational9600000960000009600000

0

0

0

96000009600000000000000009600000

4.7 Institute of excellenceR20 million


Operational0

Capital0

0

0

0

0000000000000

Infrastructure

3.0 Infrastructure

3.2.1 PostlinkR48.8 million

2001/2002Apr-02May-02Jun-02Jul-02Aug-02Sep-02Oct-02Nov-02Dec-02Jan-03Feb-03Mar-03TOTAL

Operational00

Capital00

0

0

0

00000000000000

3.2.1 Upgrading of post officesR42 million


Operational00

Capital00

0

0

0

00000000000000

3.2.2 Cancellation of lease agreementsR7.3 million


Operational00

0

0

0

0

00000000000000

3.2.3 Maintenance of national monumentsR6.8 million


Operational00

Capital00

0

0

0

00000000000000

3.2.4 Move to KromdraaiR5 million


Operational00

0

0

0

0

00000000000000

3.3 SecurityR20 million


Operational00

Capital00

0

0

0

00000000000000

3.4 E commerceR50 million


0

Banking unbankedOperationalR10 million00

Capital0

E-commerceOperationalR10 million00

Capital0

Internet learning accessOperationalR10 million00

Capital0

National data baseOperationalR20 million00

Capital0

00000000000000

3.5 Automation of hubsR60 million


Capital0

Western Cape00

Eastern Cape Region00

Kwazulu Natal Region00

Central Region00

Northern Region0

Witwatersrand Region0

00000000000000

Human resources

1. Human resources issues

1.1 Surplus employeesR150 million

Staff numbers


Business area0

Mail centres & hubs0

Delivery Depots0

Retail post offices0

Support services0

00000000000000

Voluntary packages costs


RRRRRRRRRRRRRR

Business area0

71,826,98771,826,987

Mail centres & hubs

Delivery Depots0


Support services0

71,826,98700000000000071,826,987

Human resources detail


1.1 Surplus employees

DateSalary RefSurnameFirstnamePosition numberRankRaceCost centreBuisness UnitSalaryBonusLeavePensionTotal costs

USO

2.0 Universal service obligation (USO)

2.1 USO - post officesR84.3 million



R'000R'000R'000

Apr-02May-02Jun-02Jul-02Aug-02Sep-02Oct-02Nov-02Dec-02Jan-03Feb-03Mar-03TOTAL

Region0

Western Cape548215147731547089975482151



Central Region186371411791227972486218637141

Northern Region2494985322203097274675624949853


8429977977427785687199400000000000084299779

2.2 USO - mail delivery



R'000R'000R'000

1080000013440444-2640444Apr-02May-02Jun-02Jul-02Aug-02Sep-02Oct-02Nov-02Dec-02Jan-03Feb-03Mar-03TOTAL

Region

Western Cape1670



Kwazulu Natal Region6,7980

Central Region1,2410

Northern Region2,1620

10,800000000000000000

2.3. USO - PITR5.7 million




R'000R'000R'000

5,7006005,1005700

0

0

0

5,7006005,1000000000000000

2.4. USO - CPOR1.3 million



R'000R'000R'000


1,3001,0312691300

0

0

0

0

1,3001,0312690000000000000

2004/2005 SUBSIDY

30-04-02 (2)


GOVERNMENT FUNDED PROJECTSAS AT 31 May 2002

AMOUNT2001/2002AMOUNTTRANSFERTRANSFERDRAW DOWNRECOVERYYTDMar-01Apr-02May-02Jun-02Jul-02Aug-02Sep-02Oct-02Nov-02Dec-02Jan-03Feb-03Mar-03

RECEIVEDEXPENSESAVAILABLETO USO MAILSTRIKE(OVER)

DELIVERYSETTLEMENT

R'000R'000R'000R'000R'000R'000R'000R'000R'000R'000R'000R'000R'000R'000R'000R'000R'000R'000R'000R'000R'000


2.1USO - POST OFFICES843000007742800068720002640444423155684300000-68720007742800077428000


2.3PIT570000060000051000005100000840000-2400006000000600000

2.4CPO130000010310002690002690009320009900010310001031000


4.511 SEPTEMBER 20022000000257000174300017430002000000-1743000257000257000

30-05-02


GOVERNMENT FUNDED PROJECTSAS AT 30 JUNE 2002

AMOUNT2001/2002AMOUNTDRAW DOWNRECOVERYYTDMar-01Apr-02May-02Jun-02Jul-02Aug-02Sep-02Oct-02Nov-02Dec-02Jan-03Feb-03Mar-03


R'000R'000R'000R'000R'000R'000R'000R'000R'000R'000R'000R'000R'000R'000R'000R'000R'000R'000R'000

600000000237290082362709918267661477-303713952372900821801775003871746427336000000000

1.1HUMAN RESOURCES15000000013105400018946000148153825-170998251310540007824050000000000000




2.1USO - POST OFFICES8430000077428000687200084300000-68720007742800077428000


2.3PIT57000006000005100000840000-2400006000000600000

2.4CPO130000010310002690009320009900010310001031000

3.0INFRASTRUCTURE239900000196562398803445000000-4980344196560196560000000000

3.1POSTLINK4880000004880000000

3.2PROPERTIES00





3.3SECURITY2000000002000000000

3.4E- COMMERCE500000001965649980344196561965619656



4.1ADDRESSING CONTROL ENVIRONMENT310000003859982271400186035652-217567038599822821000611646427336

4.2BRANDING2000000002000000000

4.3POSTBANK2200000002200000000


4.511 SEPTEMBER 2002200000025700017430002000000-1743000257000257000



Summary (2)


GOVERNMENT FUNDED PROJECTSAS AT 30 APRIL 2002

AMOUNT2001/2002AMOUNTDRAW DOWNRECOVERY


/ UNDER

R'000R'000R'000R'000R'000

600000000226106229373893771267661477-41555248

1.1HUMAN RESOURCES15000000013034000019660000148153825-17813825




2.1USO - POST OFFICES8430000077427785687221584300000-6872215


2.3PIT57000006000005100000840000-240000

2.4CPO1300000103100026900093200099000

3.0INFRASTRUCTURE23990000002399000005000000-5000000

0

3.1POSTLINK488000000488000000

3.2PROPERTIES611000000611000005000000-5000000





3.3SECURITY20000000200000000

3.4E- COMMERCE50000000500000000



4.1ADDRESSING CONTROL ENVIRONMENT310000006850281241497196035652814629

4.2BRANDING200000000200000000

4.3POSTBANK22000000220000000


4.511 SEPTEMBER 2002200000025716317428372000000-1742837



2004-05


GOVERNMENT FUNDED PROJECTS :

2004/2005 FINANCIAL YEAR

R'0002003/2004

REALLOCATIONS

AMOUNT BROUGHT FORWARD116635247

Projects carried forwarded 2003/200480635000


Upgrading of post offices5635000

Subsidy available36000247

SUBSIDY 2004/2005300000000

336000247247

R'000

0

1.0HUMAN RESOURCES600000000



2.1USO - POST OFFICES100000000

2.2PIT50000000


3.1REBALANCING OF NETWORK

REBALANCING OF NETWORK-CAPEX

3.1UPGRADING/ REBALANCING OF NETWORK

UPGRADING OF RETAIL NETWORK:CAPEX

3.2CONVERSION OF OFFLINE POST OFFICES

CONVERSION OF OFFLINE:CAPEX

3.0SYSTEMS IMPROVEMENTS & ENHANCEMENTS8000000040000000

3.1SAP UPGRADE & ENHANCEMENTS

3.2TRACK & TRACE SYSTEM

3.3FIXED ASSETS PROJECT

3.4FINANCIAL SWITCH

5.0ECT BILL & RELATED ACTIVITIES-5000000

5.1BIOMETRIC SYSTEM-5000000

BIOMETRIC SYSTEM -CAPEX

5.2EBPP PLATFORM

5.3FINANCIAL SWITCH

FINANCIAL SWITCH : CAPEX

4.0MAIL OPERATIONS-40000000

4.1RATIONALISATION OF HUBS

4.2AUTOMATION OF HUBS

4.3HYBRID MAIL

4.0UPGRADING OF POST OFFICES2000000012000000

7.1SHARED SERVICES

7.2SAPO12000000


6.0CONTINGENCIES693000-7000000

336000000

RECONCILIATION

TOTAL AS ABOVE0

AMOUNT NOT CLAIMED0

Capex0

opex0

SUBSIDY RECOGNISED0


DIFFERENCE0



0


SUBISIDY NOT RECEIVED-75000000

DIFFERENCE0


0

Recon

SA POST OFFICE

GOVERNMENT FUNDED PROJECTS RECONCILIATION31-Mar-03

R'000

Recognised in income statement482645000

0

GSP expenses

Voluntray retirement packages

REDUCTION OF BENEFITS

USOMAIL

PIT

Postbank

DIFFERENCE482645000

Balance sheet218104456

Subsidy carried forward419823000

Received300000000

719823000

Utilised0

Balance sheet0

SUBSIDY UTILISED FOR5075694700

GSP expenses70115867

Early retirements252298828

Reduction of benefits52100000

USO113982000

Assets19072775

ASSETS


GOVERNMENT FUNDED PROJECTS

AS AT 31 MARCH 2004ASSETS

CONTROL

41,406,65641,406,6560

UPGRADING OF PO

12,579,5884,700,500

JNL MAY 2003313,3821,472,507JNL MARCH1,016,069

JNL MAY 2003261,151367,321

JNL MAY 2003804,375210,860

JNL MAY 200393,599376,963

JNL JULY 200352,4911,891,393263,317

JNL JULY 200348,599276,643

JNL JULY 2003193,494372,121

JNL JULY 200374,665317,019

JNL JULY 2003577,339273,817

JNL JULY 2003219,218362,840

JNL JULY 2003370,360127,261

JNL JULY 200323,651339,053

JNL JULY 2003331,576238,109

JNL FEB1,197,65547,519

JNL FEB193,62337,455

JNL FEB722,67612,401

JNL FEB1,392,7404,163

JNL FEB182,9493,838

JNL FEB92,5678,235

JNL FEB39,0339,986

JNL FEB253,4343,781

JNL FEB887,76615,237

JNL FEB145,3943,838

58,4655,166,3044,163

JNLS REVERESED(651,117)2,154

6,338

REBALANCING NETWORK18,532,916

JNL JULY 2003392,618

JNL JULY 2003352,225

JNL JULY 2003500,368

JNL JULY 2003194,797

JNL JULY 2003448,361

JNL JULY 2003495,562

JNL JULY 200324,475

JNL JULY 200346,342

JNL JULY 2003331,209

JNL JULY 2003384,243

JNL JAN 20045,791

JNL JAN 2004387,001

JNL JAN 20044,163

JNL JAN 2004413,399

JNL JAN 2004620,269

JNL JAN 2004345,022

JNL JAN 200410,221

JNL JAN 20046,2591,792,125

JNL FEB13,570,59213,570,592

CONVERT OFFLINE OFICES451,542

JNL OCTB 2003370,842

JNL JAN 200480,700

FINANCIAL SWITCH1,735,873

JNL MAY 20031,249,999

JNL OCT 2003160,875

JNL NOV 2003324,999

BIOMETRIX7,811,295

JNL MAY38,210

JNL MAY31,763

JNL OCT22,499

JNL OCT370,799

JNL OCT153,999

JNL OCT264,429

JNL OCT47,039

JNL OCT1,399,719

JNL OCT17,396

JNL JAN2,447,999

JNL JAN1,799,950

JNL JAN380,519

JNL JAN35,999

JNL JAN71,999

JNL JAN109,999

JNL JAN124,800

JNL FEB408,000

JNL MARCH86,177

E-BDN295,442

JNL FEB295,442.00

31-03-2004



INITIAL

AMOUNT

RECEIVED



0EXPENSES


5142160000514216000397580753116635247397580753027924793495064214956686559651761053000428518808402227099434190908583442741908137760257441723770037623132141406656

1.1HUMAN RESOURCES1500000001461750000146175000137098471907652913709847132938065070503131420019760416275685284392441306396648001370984710137098471



2.1USO - POST OFFICES843000001112590001112590001112590000111259000305544971177818197248561041150782025701055785594341901028755110307793111259000111259000









3.3NETWORK UPGRADE

00



4.2E-BDN30000000285919-2859192859191127625581532521490117343285919

E-BDN - CAPEX295442295442295442295442



4.5E-PROCUREMENT400000006480041-64800416480041837205157500642383105109158491058584990617811365805783466480041

4.6POSTBANK3176192-317619231761923176192


10000000




5.2EBPP PLATFORM0885162-88516288516281200179712624250885162



0

6.0MAIL OPERATIONS50000000-4900000010000002100617899392100610000000000348204669012855102100610210061





7.1SHARED SERVICES224250022425002242500

7.2SAPO21000000285861003189349952388447407708228097290400028586100

000

8.0CONTINGENCIES7782000-7000000782000078200000

BALANCE B/F116635247




BALANCE C/F36000247

RECONCILIATION



Capex41406656

opex0



DIFFERENCE1



116635247



DIFFERENCE-401


-401

Sub Hist

SUBSIDY HISTORY

FYCarry B/FSubsidyTotalUtilisedCarry forwarded

2001/20020600,000600,000180,177419,823

2002/2003419,823300,000719,823505,607214,216

2003/2004214,216300,000514,216478,21636,000

2004/200536,000300,000336,000

2001/2002


USO89,259


180,177

2002/2003


USO113,982



Other10,167

505,607

2003/2004


USO126,259



Restructuring30,829

478,216

2004/2005


USO150,000



Restructuring26,000

336,000

Sub Hist (2)

2001/2002


USO100,000



Restructuring26,000

336,000

2002/2003

Sub Hist (2)

31-03-2004 (2)



INITIAL

AMOUNT

RECEIVED



0EXPENSES


514216000051421600047821575336000247397580753027924793495064214956686559651761053000428518808402227099434190908583442741908137760257441723770037623132141406656

1.1HUMAN RESOURCES1500000001461750000146175000137098471907652913709847132938065070503131420019760416275685284392441306396648001370984710137098471



2.1USO - POST OFFICES843000001112590001112590001112590000111259000305544971177818197248561041150782025701055785594341901028755110307793111259000111259000









3.3NETWORK UPGRADE

00



4.2E-BDN30000000285919-2859192859191127625581532521490117343285919

E-BDN - CAPEX295442295442295442295442



4.5E-PROCUREMENT400000006480041-64800416480041837205157500642383105109158491058584990617811365805783466480041

4.6POSTBANK3176192-317619231761923176192


10000000




5.2EBPP PLATFORM0885162-88516288516281200179712624250885162



0

6.0MAIL OPERATIONS50000000-4900000010000002100617899392100610000000000348204669012855102100610210061





7.1SHARED SERVICES224250022425002242500

7.2SAPO21000000285861003189349952388447407708228097290400028586100

000

8.0CONTINGENCIES7782000-7000000782000078200000

BALANCE B/F36000247




BALANCE C/F-44634753

RECONCILIATION



Capex41406656

opex0



DIFFERENCE80635001



36000247



DIFFERENCE80634599


80634599

REALLOCATIONS

31 JANUARY 2004 : REALLOCATIONS

REQUIRED

R'000



SYSTEMS IMPROVEMENT40000000

52000000

TRANSFERRED FROM

CONTINGENCIES-7000000

MAIL OPERATIONS-40000000

ECT BILL & RELATED ACTIVITIES-5000000

-52000000

0

31 March 2004REQUIRED

R'000

SAPO restructuring9000000

9000000

TRANSFERRED FROM

Mail ops9000000

9000000

SKILLS LEVY


SKILLS LEVY (19001900) : 29 FEBRUARY 2004

Apr-03May-03Jun-03Jul-03Aug-03Sep-03Oct-03Nov-03Dec-03Jan-04Feb-04Mar-04YTDSAPVAR

Amount received0000007,025,680542,89600007,568,575

Expenses

Training000000001,436,878001,436,8781,558,022121,145

Rent0000000388,000116,000116,000116,000736,000504,000(232,000)

Domestic services000000014,8845,1446,324026,35321,208(5,145)

Consumables0000000325,500000325,500325,500

Management advice00000008,4000008,4008,400

0000000736,7841,558,022122,324116,00002,533,1302,417,130(116,000)

Assets

Computers - Datacentrix000000757,997000757,997

Furnishing00000000001,720,5371,720,537

Leasehold improvements0000000000444,186444,186

000000757,9970002,164,723002,922,720

Total opex and capex5,455,850

Balance2,112,725

RE-engineering projects

4.0 Re-engineering projects

4.1 Adressing control environmentR31 million

R'000R'000R'000R'000R'000R'000R'000R'000R'000R'000R'000R'000R'000

2001/2002YTDMar-01YTDApr-02May-02Jun-02Jul-02Aug-02Sep-02Oct-02Nov-02Dec-02Jan-03Feb-03Mar-03TOTAL

AMOUNTEXPENSESAMOUNT

RECEIVEDAVAILABLE

R'000R'000R'000

0

Repositioining of banking and treasury3000000187822611217741877826101682843049902150002150004996755652

Fixed asset projects60000002349005765100234900234900006469800

Procurement policy80000001,587,534641246615875340793,76779376711,175,068

Accounting functions40000001968224203177619682243874007904123966462123361814307936448

Fleet management100000001181397881860311813971181397012362794

3100000068502812414971968498812820525201467806116464273369756960000000044699762

4.2 BrandingR20 million


Operational0

Capital0

0

0

0

0000000000000

4.3 PostbankR22 million


Network improvement0

Customer awareness0

0

0

0000000000000

4.4 Address expansionR3.4 million


Operational0

Capital0

0

0

0

0000000000000

4.5 11 September related expensesR2.0 million




R'000R'000R'000

Operational200000025716317428372,000,000

Capital0

0

0

0

2000000257163174283700000000000

4.6 Airworld contractR9.6 million




R'000R'000R'000

Operational9600000960000009600000

0

0

0

96000009600000000000000009600000

4.7 Institute of excellenceR20 million


Operational0

Capital0

0

0

0

0000000000000

Infrastructure

3.0 Infrastructure

3.2.1 PostlinkR48.8 million


Operational00

Capital00

0

0

0

00000000000000

3.2.1 Upgrading of post officesR42 million


Operational00

Capital00

0

0

0

00000000000000

3.2.2 Cancellation of lease agreementsR7.3 million


Operational00

0

0

0

0

00000000000000

3.2.3 Maintenance of national monumentsR6.8 million


Operational00

Capital00

0

0

0

00000000000000

3.2.4 Move to KromdraaiR5 million


Operational00

0

0

0

0

00000000000000

3.3 SecurityR20 million


Operational00

Capital00

0

0

0

00000000000000

3.4 E commerceR50 million


0

Banking unbankedOperationalR10 million00

Capital0

E-commerceOperationalR10 million00

Capital0

Internet learning accessOperationalR10 million00

Capital0

National data baseOperationalR20 million00

Capital0

00000000000000

3.5 Automation of hubsR60 million


Capital0

Western Cape00



Central Region00

Northern Region0


00000000000000

Human resources


1.1 Surplus employeesR150 million

Staff numbers


Business area0

Mail centres & hubs0

Delivery Depots0


Support services0

00000000000000

Voluntary packages costs


RRRRRRRRRRRRRR

Business area0

71,826,98771,826,987

Mail centres & hubs

Delivery Depots0


Support services0

71,826,98700000000000071,826,987

Human resources detail


1.1 Surplus employees

DateSalary RefSurnameFirstnamePosition numberRankRaceCost centreBuisness UnitSalaryBonusLeavePensionTotal costs

USO

2.0 Universal service obligation (USO)

2.1 USO - post officesR84.3 million



R'000R'000R'000


Region0

Western Cape548215147731547089975482151



Central Region186371411791227972486218637141

Northern Region2494985322203097274675624949853


8429977977427785687199400000000000084299779

2.2 USO - mail delivery



R'000R'000R'000

1080000013440444-2640444Apr-02May-02Jun-02Jul-02Aug-02Sep-02Oct-02Nov-02Dec-02Jan-03Feb-03Mar-03TOTAL

Region

Western Cape1670



Kwazulu Natal Region6,7980

Central Region1,2410

Northern Region2,1620

10,800000000000000000

2.3. USO - PITR5.7 million




R'000R'000R'000

5,7006005,1005700

0

0

0

5,7006005,1000000000000000

2.4. USO - CPOR1.3 million



R'000R'000R'000


1,3001,0312691300

0

0

0

0

1,3001,0312690000000000000

Budget 2004-2005

SAP upgradeE-BDNEBPPUpgrade of NetworkRationalisation of hubsAutomation of hubsHybrid MailTrack & traceFinancial switchPITsTrust centreRestructuring of businessReduction of support costsRight sizing of organisation

Key projects for 2004/2005

Income analysis

COVER

NOV 2003

BUDGET

2004/2005

Notes

MANAGEMENT ACCOUNTS

SA POST OFFICE GROUP

NOTES / ASSUMPTIONS FOR 2004/2005 FY TO 2007/2008 FY

Postbank Corporatisation

Wholly owned subsidiary of the Post Office.

Correct transfer pricing and management fee to be charged.

Loan of R965 million to repaid to Postbank.

Medical liability

Aggressively reduce this liability.

No liability i.r.o. new employees.

Buy back / reduce of liability i.r.o pensioners.

Subsidiaries

Conversion of loan to equity.

Income

Tariff increase of 3%.

Volume growth of 1%.

Increase revenue of Agency business by R70 million.

Expenses

Salary increase of 5%.

Reduce staff numbers 1 000.

Aggresively manage costs.

Sheet1

2003/2004.2004/2005

INCOME4352473755.964768113168

POSTAL SERVICES3407551944.1378%362601200076%

MONEY TRANSFER SERVICES46228731.221%507907811%

AGENCY SERVICES290344257.597%3581967298%

FINANCIAL SERVICES276374233.056%3702933698%

SUNDRY INCOME103493247.672%839390002%

INTERNAL CHARGES228481342.35%2788812896%

4352473755.964768113168

2003/2004.2004/2005

EXPENSES4316946376.414622577178.01396

STAFF EXPENSES2204735519.3151%2170514168.6389647%

TRANSPORT536012693.212%556623821.8583812%

ACCOMMODATION249297477.536%286197963.1286%

INTERNAL CHARGES PAID228481342.35%2788812896%

DEPRECIATION152983346.164%231523967.185%

MATERIAL AND SERVICES160046048.274%247054562.5127275%

INTEREST PAID150158855.463%156967177.673%

COMMUNICATION SERVICES133498797.53%152408599.3249093%

MARKETING93786168.362%1432364473%

SECURITY SERVICES84514032.552%973420282%

SERVICE CONTRACTORS63298618.771%66543600.08363641%

INTERNATIONAL CHARGES74237071.932%626600001%

AUDIT, BANK & DIRECTORS FEES38083639.381%37646066.281%

COST OF INSURANCE31880324.731%26973187.90939251%

TRAVEL EXPENSES365786511%48724592.94545451%

RSC LEVY & OTHER EXPENSES31661747.081%31094866.48251%

AGENT & LEGAL COSTS32901732.311%205828400%

PROVISIONS & WRITE-OFFS16003819.290%70340000%

CURRENCY ADJUSTMENTS-1213508.72-0%5680000%

4316946376.414622577178.01396

2002/20032003/20042004/2005

REVENUE40915810004352473755.964768113168

STAFF EXPENSES21351089002204735519.312170514168.63896

2002/20032003/20042004/2005

STAFF EXPENSES52%51%46%

2001/20022002/20032003/20042004/20052005/20062006/20072007/2008

OPERATING PROFIT-350522000-17019560035527000145535989.986039220611888.977839303196495.954418414584835.22192

Sheet1

0.5218298012

0.5065476883

0.4552144826

ANALYSIS OF STAFF COSTS AS % OF REVENUE

ANALYSIS OF STAFF COSTS AS % OF REVENUE

KEY RATIOS

-350522000

-170195600

35527000

145535989.986039

220611888.977839

303196495.954418

414584835.22192

OPERATING PROFIT

Group cash flow

MANAGEMENT ACCOUNTS

SA POST OFFICE LIMITED EXCLUDING SUBSIDIARIES

KEY FINANCIAL RATIOS

2002/20032003/20042004/2005Jan-04Feb-04Mar-04

PROFITABILITY

RETURN ON ASSETS : measures the ability to utilise assets to create profits by comparing profits with the assets that generate the profits.

NET (LOSS) / PROFITR'000-157970600-116855620-73771010

TOTAL ASSETSR'000239693740722396297542178574029

RETURN ON ASSETS(7)%(5)%(3)%0%0%0%

TOTAL ASSET TURNOVER : measures the activity of the assets and the ability of the firm to generate sales through the use of assets.

TURNOVERR'00032894136523793760661291774880

TOTAL ASSETSR'000239693740722396297542178574029

ASSET TURNOVER1.371.690.130.000.000.00

OPERATING ASSET TURNOVER : measures the ability of operating assets to generate sales.

TURNOVERR'00032894136523793760661291774880

OPERATING ASSETSR'000111632004212784014111248421007

OPERATING ASSET TURNOVER2.952.970.230.000.000.00

TURNOVER TO FIXED ASSETS : measures the firm's ability to make productive use of its fixed assets.

TURNOVERR'00032894136523793760661291774880000

FIXED ASSETSR'0001103507232855000022849878448

TURNOVER TO FIXED ASSETS2.984.440.340.000.000.00

RETURN ON INVESTMENT : measures the income earned on investments.

INCOME FROM INVESTMENTR'00014946452124031967419580650

INVESTMENTSR'000130383558413335317421540221810

RETURN ON INVESTMENT11%18%1%0%0%0%

RETURN ON EQUITY: measures return to shareholder.

NET LOSSR'000-157970600-116855620-73771010

EQUITYR'000200939821200939821482953821

RETURN ON EQUITY(79)%(58)%(15)%0%0%0%

LIQUIDITY

CURRENT RATIO : determines short term debt paying ability.

CURRENT ASSETSR'0001113969068876783540891480087

CURRENT LIABILITIESR'000141915255312590786971186429108

CURRENT RATIO0.780.700.750.000.000.00

ACID TEST RATIO : relates the most liquid assets to current liabilities.

CURRENT ASSETS LESS INVENTORYR'0001031352068788484050846843892


ACID TEST RATIO0.730.630.710.000.000.00

CASH RATIO : indicates the immediate liquidity.

CASH EQUIVALENTSR'000627437156330784000452963450


ACID TEST RATIO0.440.260.38

DEBTOR'S COLLECTION PERIOD : indicates the length of time it takes debtors to pay their accounts.

DEBTORSR'000437069621410503509428540242

CREDIT SALESR'000286410670030467316293337679218

DEBTORS COLLECTION PERIOD554946000

ACCOUNTS RECEIVABLE TURNOVER IN DAYS : gives a comparison with the number of day's sales in receivables.

DEBTORSR'000437069621410503509428540242

SALESR'000409158100043524737564768113168

ACCOUNTS RECEIVABLES TURNOVER IN DAYS393433000

INVENTORY TURNOVER : indicates the liquidity of the inventory.

COSR'0009777354304938850

INVENTORYR'000382756664774330653109448

INVENTORY TURNOVER2.550.000.090.000.000.00

INVENTORY TURNOVER IN DAYS : indicates liquidity of inventory.

INVENTORYR'000382756664774330653109448

COSR'0009777354304938850

INVENTORY TURNOVER IN DAYS14303,925000

CREDITORS PAYMENT PERIOD : indicates length of time taken to pay creditors

CREDITORSR'000542484740591416478489065138

CREDITOR PURCHASESR'00011023209041223769585109354616

CREDITORS PAYMENT PERIOD1771741,610000

2002/20032003/20042004/2005Jan-04Feb-04Mar-04

NUMBER OF EMPLOYEES22,42819,55419,476

REVENUER'00032894136523793760661291774880

REVENUE PER EMPLOYEE (monthly)R'00014666519401514981000

EXPENDITURE (operating)R'0003616734381371982408228673168930611195000

EXPENDITURE PER EMPLOYEE (monthly)R'00016126019023314722000

PROFIT / (LOSS) PER EMPLOYEE-145943781259000

Staff costsR'00020007199581942815080151928627

Staff costs as % of operating revenue61%51%52%

Staff costs as % of operating expenses55%52%53%

2001/20022002/2003Apr-03Jan-04Feb-04Mar-04

Accommodation costsR'00019796638921458563019371895

Accommodation costs as % of operating revenue6%6%7%

Accommodation costs as % of operating expenses5%6%7%

2001/20022002/2003Apr-03Jan-04Feb-04Mar-04

Material & servicesR'00011089157516592616116079431

Material & services costs as % of operating revenue3%4%6%

Material & services costs as % of operating expenses3%4%6%

2001/20022002/2003Apr-03Jan-04Feb-04Mar-04

TransportR'00039270609140396370227487905

Transport costs as % of operating revenue12%11%9%

Transport costs as % of operating expenses11%11%10%

2001/20022002/2003Apr-03Jan-04Feb-04Mar-04

CommunicationR'00093995806857830731825455

Communication costs as % of operating revenue3%2%1%

Communication costs as % of operating expenses3%2%1%

2001/20022002/2003Apr-03Jan-04Feb-04Mar-04

DepreciationR'00016367680915030725812198697

Depreciation costs as % of operating revenue5%4%4%

Depreciation costs as % of operating expenses5%4%4%

Property, plant & equipmentR'0001013227475855000022849878448

Depreciation costs as % of property, plant & equipment16%18%1%

REVENUER'00032894136523793760661291774880

NUMBER OF OUTLETS2,6392,6392,652

REVENUE PER OUTLETR'00012464621437575110021000

R'000Apr-03Jan-04Feb-04Mar-04

Operating incomeOperating income291774880.46328610284.8400

Operating expensesOperating expenses286731689.41306111949.6800

Profit / (loss)Profit / (loss)5043191.0499999522498335.159999800

Group cash flow

291774880.46286731689.415043191.04999995

Operating income

Operating expenses

Profit / (loss)

SA POST OFFICE EXCLUDING SUBSIDIARIES

GROUP BS

MANAGEMENT ACCOUNTS


CASH FLOW STATEMENT FOR 2004/2005 FY to 2007/2008 FY

MarchBudgetBudgetForecastBudgetBudgetBudgetBudget

2002/032003/20042001/20022003/20042004/052005/062006/072007/08

R'000R'000R'000R'000R'000R'000R'000R'000

Cash (outflow) / inflow from operating activities143592375.94281329948.390162817841.18669900008.58704432746066.10732456995549.1267615777052.717647

Cash received from customers3658447380.354236977463.913848376619.114281649686.84555752478.19064955363200.138275387453108.37378

Cash paid to suppliers and employees-3560338004.41-4018202080.52-3753901288.02-3728008500.54296-4254718165.84978-4650423538.37877-4951033489.30835

Cash (utilised) / generated by operations98109375.9400001218775383.39094475331.0899997553641186.25704301034312.34082304939661.7595436419619.065431

Interest received242297000242380375218501365.55273226000299527500331397170371177400.2

Interest paid-196814000-179825810-150158855.46-156967177.67-167815746.2335-179341282.6328-191819966.547784

Taxation Paid

Cash (outflow) / inflow from investing activities-13407992.32000016172790001000-145354000276075250-303000000-333500000-454000000

100000000

Acquisitions of property, plant and equipment-13407992.3200001-358516000-145354000-473924750-303000000-333500000-454000000

Replacement and renewal of intangible assets

Net acquisition of non current investments0000000

Increase / (decrease) in equity09757950000750000000000

Net disposal / (acquisition) of non current assets0000000

Increase / (decrease) of intercompany loans0000000

Cash inflow / (outfow) from subsidy-18868300000-65939497-30693000000

0000000

Increase / (decrease) in interest borrowings

Subsidy received

Subsidy received300000000300000000300000000300000000000

Subsidy expenses-488683000-300000000-365939497-330693000000

-------

Cash (outflow) / inflow from Postbank activities2122630001526400000568002000400000000400000000400000000400000000

0000000

Increase / (decrease) in interest borrowings

Subsidy received

Increase in deposits from the public212263000152640000568002000400000000400000000400000000400000000

Decrease / (increase ) in long term investments0

0

(Decrease)/ increase in cash and cash equivalents153764383.621051248948.391000519526344.181315282258.58704529746066.10732523495549.1267561777052.717647

Cash and cash equivalents at beginning of period740417100.97894181484.59894181484.59894181484.591413707828.772728990087.357043258736153.464363782231702.59106

Cash and cash equivalents at end of period894181484.591945430432.98894182484.591413707828.772728990087.357043258736153.464363782231702.591064344008755.30871

-3259077771.46436-2729331705.35704-1414049446.77-894524102.59

146778146778146778

200265200265200265

347043347043347043

BALANCE SHEET894180738195409200013980120002713294934.613243040962.113766536138.2354328312605.55375

DIFFERENCE-746.59000003348661567.01999998-15695828.7699997-15695152.7470398-15695191.3543601-15695564.3560596-15696149.7549562

CAPEX-13407992.3200001-358516000-145354000-343924750-303000000-333500000-454000000

DOCEX-896017-966000-1200000-2500000-3000000-3500000-4000000

CFG-4591000-7550000-6000000-91424750-30000000-40000000-50000000

POST OFFICE INNCL PBANK-7920975.32000005-350000000-138154000-250000000-270000000-290000000-400000000

GROUP P&L

MANAGEMENT ACCOUNTS


BALANCE SHEET FOR 2004/2005 FY TO 2007/2008 FY

MARCHBudgetForecastBudgetBudgetBudgetBudget

2002/20032003/20042003/20042004/20052005/20062006/20072007/2008

R'000R'000R'000R'000R'000R'000R'000

ASSETS

Non-current assets1016224757.41108699552.81039007232.11148191480.921215578040.14771297477326.495371483129200.7961

Property, plant and equipment9086976691028143464.4895476868.11006343650.921073882193.14771155918264.195371341693244.7261

Intercompany loans1865580000214603000214603000214603000214603000214603000

Impairment of intercompany loans-1446350000-135773000-135773000-135773000-135773000-135773000

Investment in subsidiaries22554000425540002255400022554000225540002255400022554000

Postbank long term investments36952088.436952088.43894400038944000389440003894400038944000

Non-current receivables4799000015136640000

Deferred taxation129900010500001688700151983013678471231062.31107956.07

Current assets1380712650240992780019440115403151811571.813680204124.254200570227.5184769310529.8851

Inventories : consumable items348740003381122038169340195711201859256417662935.816779789.01

Inventories : saleable stock4774300044675780501301502506507523811821.2522621230.187521490168.678125

Trade receivables343137295328293029387548970335604224.2340606764.79343576426.5505356397605.222975

Non trade receivables93932326822104801066350809293601888289217.183874756.24579681018.43275

Provision for doubtful debts-33154709-33154709-36484000-34659800-34137205-33701259.5-33350657.0125

Post Office investments short term54836418.2914827700030693000150000000177808000184922000157255000

Postbank investments short term266743581.71153332000010672280002260331484.612712268484.613177269484.613662332484.61


Impairment of intercompany loans0000000

Cash and cash equivalents572600738272495000300091000302963450352964477.5404344653.625508725120.94375

TOTAL ASSETS2396937407.43518627352.82983018772.14300003052.734895782164.39775498047554.013376252439730.6812

EQUITY AND LIABILITIES

Capital and reserves-1585987103.89-629861991.75-1771824737.54-1095595747.5539625016141.4238765828212637.3782951523310472.60021

Share capital2011400001359838000201140000951140000951140000951140000951140000

Accumulated Profit (loss)-1787127103.89-1989699991.75-1972964737.54-2046735747.55396-926123858.576123-122927362.621705572170472.600214

Non-current liabilities25637716972832301306.734957649164209169670.23702487486.693588617977.35553702450378.48772

Shareholder's loan0000000

Interest bearing borrowing14968000000000


Retirement benefit obligations9968470001319838000136884700016888470007884303002805130000

Deposits from the public1212408000136504800017804100002180410000258041000029804100003380410000

Provisions149421697147415306.7131904916125309670.2119044186.69113091977.3555107437378.487725

Current liabilities14191525531316187832.471259078696.91186429107.5211168278126.970581081217369.427271026678699.50719

Trade payable672789247666402989.53660866191.6695985683.38679692379.7124669379855.915276618941164.356123

Non trade payable305507306302452232.94370200494.4291194479.568285370589.97664282515884.076874279692225.236105

Funds collected on behalf of third parties137909000136529910135164610.9131109672.573128487479.12154127202104.330325125930583.287021

Subsidy received in advance239937000148277000306930000000



Taxation30100002525700215440021392722127678.162119525.10482114726.627944

Bank overdraft0000000

0

TOTAL EQUITY AND LIABILITIES2396937146.113518627147.422983018875.364300003030.167044895781755.084465498047984.161076252439550.59513

CONTROL0261.2900004387000205.3800001144000-103.259998798400022.562961578400409.313241958600-430.147701263400180.08606243130

TOTAL INVESTMENTS266743581.71168159700010979210002410331484.612842267484.613492269484.613972331484.61

POSTBANK INVESTMENTS266743581.71153332000010672280002260331484.612712268484.613177269484.613662332484.61

POST OFFICE INVESTMENTS14827700030693000150000000129999000315000000309999000

PO BS

MANAGEMENT ACCOUNTS


INCOME STATEMENT FOR THE 2004/2005 FY to 2007/2008 FY

ITEMActualForecastMarchBudgetActualsBudgetBudgetBudgetBudget

Jan 20032002/20032002/20032003/20042003/20042004/20052005/20062006/20072007/2008

R'000R'000R'000R'000R'000R'000R'000R'000R'000R'000

INCOME175786000040915810004428114580043524737564768113168514075091955938983046094355687

POSTAL SERVICES-900000000003127523000347333235534075519443626012000392202352842520903904627458217

MONEY TRANSFER SERVICES0000000045540000445402224622873150790781538382285706852260492633

AGENCY SERVICES-3030000000000290430000302577651290344258358196729432688533488649845542968835

INTEREST RECEIVED1391990000000000242297000242380375218501366273226000299527500331397170371177400

POSTBANK LEDGER FEES43567000518339555787286897067369690445877318726277578498

SUNDRY INCOME368990000000000118989000678381287949803469547000632591836675297470442792

RENTAL INCOME0000000019811000210840722399521314392000152541601616941017139574

INTERNAL CHARGES RECEIVED00000000203424000224527822228481342278881289285115201308582733327097737

OPERATING EXPENDITURE120395000042617766004426314468043169463764622577178492013903052907018085679770851

STAFF EXPENSES142770002135108900216532539722047355192170514169234587820425053397442678698171

TRAVEL EXPENSES32286866376753473657865148724593502658805363489557211782

MATERIAL AND SERVICES2078000169862000215211022160046048247054563221188179236393194252590592

ACCOMMODATION984000243056000251825253249297478286197963290007860309119633329165931

TRANSPORT364000577375534554258252536012693556623822660928967740727606824275293

INTERNATIONAL CHARGES7600063755000799122837423707262660000670459357173915076760891

COST OF INSURANCE1600027867000173964813188032526973188291361363069148232293970

PROVISIONS & WRITE-OFFS6110003671340011572727160038197034000650217367000756874072

COMMUNICATION SERVICES1559000133366900130425473133498798152408599156203106165595756175075664

SECURITY SERVICES57000632810007144975784514033973420289116099597306314103790572

AUDIT, BANK & DIRECTORS FEES58000037854000355127063808363937646066402319944298266945908576

AGENT & LEGAL COSTS018914500212627153290173220582840198568252121619622658889

CURRENCY ADJUSTMENTS0-5341000499122-1213509568000608231650807696363

DEPRECIATION3419000167245500239070205152983346231523967233441458248933929265205019

SERVICE CONTRACTORS129200053446500568414476329861966543600689092727358116678521414

INTEREST PAID26235000196814000179825810150158855156967178167815746179341283191819967

MARKETING84060006382000010486635493786168143236447152620926162670296173202316

RSC LEVY & OTHER EXPENSES14300042926500288561743166174731094866332216893549461437923350

INTERNAL CHARGES PAID60298000203424000224527945228481342278881289285115453308583000327098020

OPERATING PROFIT(LOSS)553910000-1701956001800112035527380145535990220611889303196496414584835

STAFF NON OPERATING EXPENDITURE00000000-613188000-513035000-509302000-420000000900000000500000000280513000

SUBSIDY0416418000300000000263165000200693000000

NON OPERATING ITEMS-47200000000002089950000937540000000

NET PROFIT/LOSS549190000-157970600-2112348880-116855620-737710101120611889803196496695097835

CAPEX350000000138154000250000000270000000290000000400000000

DEPOSITORS FUNDS17804100002180410000258041000029804100003380410000


CFG BS

MANAGEMENT ACCOUNTS

SA POST OFFICE EXCLUDING SUBSIDIARIES



2002/20032003/20042003/20042004/20052005/20062006/20072007/2008

R'000R'000R'000R'000R'000R'000R'000

ASSETS

Non-current assets961228088.41063446771.8991148532.11034276868.11098133811.12871167560740.169411331547554.24297

Property, plant and equipment855000000983940683.4849306868.1893948868.1957805811.12871027232740.169411191219554.24297


Impairment of intercompany loans-1446350000-135773000-135773000-135773000-135773000-135773000


Postbank long term investments36952088.436952088.43894400038944000389440003894400038944000


Deferred taxation0000000

Current assets1278401000229592700017977975403029597831.813492477514.453925196462.9584345592814.0406

Inventories : consumable items3402600033005220370883401854417017616961.516736113.42515899307.75375

Inventories : saleable stock4774300044675780501301502506507523811821.2522621230.187521490168.678125

Trade receivables262899000232364720270785970232875934.2221232137.49210170530.6155199662004.084725

Non trade receivables8123600079611280836730807112211867566012.164187711.49560978325.92025

Provision for doubtful debts-22543000-22543000-22543000-21415850-20345057.5-19327804.625-18361414.39375

Post Office investments short term54836418.2914827700030693000150000000177808000184922000157255000

Postbank investments short term266743581.71153332000010672280002260331484.612712268484.613177269484.613662332484.61



Cash and cash equivalents553460000247216000280742000293074900292519155268617197.25246336937.3875

TOTAL ASSETS2239629088.43359373771.82788946072.14063874699.914590611325.57875092757203.127415677140368.28357


Capital and reserves-1444503850.89-679870464.75-1643042492.83-1011997613.8337269498.273699731385123.6532591255458353.89466

Share capital2009400001176735000200940000950940000950940000950940000950940000

Accumulated Profit (loss)-1645443850.89-1856605464.75-1843982492.83-1962937613.83-913670501.726301-219554876.346741304518353.894658

Non-current liabilities2357127000281496524032654949163979266320.23473349154.193367727846.48053481874604.15648






Provisions141238000138413240124571916118343320.2112426154.19106804846.4805101464604.156475

Current liabilities132700600012242793101166493286.91096606220.8211079992596.40458993644170.440534939807128.736129

Trade payable591416000584705840578816781.6616432220.68601502076.2664591813055.503736541993324.948699

Non trade payable297744000294766560361818894.4283064327.568277403041.01664274629010.606474271883220.500409

Funds collected on behalf of third parties137909000136529910135164610.9131109672.573128487479.12154127202104.330325125930583.287021




Taxation0000000


0

TOTAL EQUITY AND LIABILITIES2239629149.113359374085.252788945710.074063874927.1914590611248.868285092757140.574295677140086.78726

CONTROL0-60.7099995613000-313.4499998093000362.0300011635000-227.28099966050076.71042060850062.553115844700281.49630546570

TOTAL INVESTMENTS266743581.71168159700010979210002410331484.612890076484.613556307484.614013703484.61

POSTBANK INVESTMENTS266743581.71153332000010672280002260331484.612712268484.613177269484.613662332484.61

POST OFFICE INVESTMENTS14827700030693000150000000177808000379038000351371000

DOCEX BS

MANAGEMENT ACCOUNTS

COURIER FREIGHT GROUP



2002/20032003/20042003/20042004/20052005/20062006/20072007/200820042005200620072008

R'000R'000R'000R'000R'000R'000R'000

ASSETS

Non-current assets445046693502322836756000102987699.82106671945.019119303560.02596141114123.483129

Property, plant and equipment445046693502322836756000102987699.82106671945.019119303560.02596141114123.483129




Postbank long term investments0000000


Deferred taxation0000000

Current assets91529650104372000131857000105680540167665819.8250420664.06392658170.3695


Inventories : saleable stock0000000SALES528073000597160000721120000828229000963671000

Trade receivables696862958589870910245700089137590106463462.3121140289.185145083274.72575DETORS10245700089137590106463462.3121140289.185145083274.72575

Non trade receivables1194732620000002271200021576400204975801947270118499065.957154545355

Provision for doubtful debts-9411709-9411709-12741000-12103950-12709147.5-13344604.875-14011835.11875

Post Office investments short term0000000

Postbank investments short term0000000



Cash and cash equivalents184597382507900018348000604355052438322.5122225456.375242207183.55625

TOTAL ASSETS136034319139395228168613000208668239.82274337764.819369724224.08596533772293.852629


Capital and reserves-14185025347809049-131508244.71-88648112.7239612-20856055.849822583445648.7250363248465966.705556

Share capital200000183103000200000200000200000200000200000

Accumulated Profit (loss)-142050253-135293951-131708244.71-88848112.7239612-21056055.849822583245648.7250363248265966.705556

Non-current liabilities19942069717336066.7221644000219763350218998332.5210750130.875210435774.33125






Provisions81836979002066.7733300069663506618032.56287130.8755972774.33125

Current liabilities7846405374249652.47784770007755275076195280.575528335.99574870360.52005

Trade payable6996474766238099.53700370006938589068220172.267669470.47867123775.77322

Non trade payable67753066707552.94744300072197107075315.87004062.6426934522.01558

Funds collected on behalf of third parties0000000




Taxation17240001304000997000947150899792.5854802.875812062.73125


0

TOTAL EQUITY AND LIABILITIES136034497139394768.17168612755.29208667987.276039274337557.150178369724115.595036533772101.556856

CONTROL0-178000459.8299999833000244.7099999785000252.543961167300207.668822467300108.490923702700192.29577249290

SALES486356000528073000492386000597160000721120000828229000963671000

TRADE RECEIVABLES696862958589870910245700089137590106463462.3121140289.185145083274.72575

CHANGE1621241416558291-1331941017325872.314676826.88523942985.54075

DSO52597654545355

GR BS 02

MANAGEMENT ACCOUNTS

DOCUMENT EXCHANGE (PTY) LTD



2002/20032003/20042003/20042004/20052005/20062006/20072007/200820042005200620072008

R'000R'000R'000R'000R'000R'000R'000

ASSETS

Non-current assets104920001022955311102700109269131077228410613026.310467523.07

Property, plant and equipment9193000917955394140009407083940443793819649359567




Postbank long term investments0000000


Deferred taxation129900010500001688700151983013678471231062.31107956.07

Current assets10782000962880014357000165332002006079024953100.531059545.475

Inventories : consumable items0000000

Inventories : saleable stock0000000SALES3580700038500000400580004161700043178000

Trade receivables105520001002960014306000135907001291116512265606.7511652326.4125DETORS14306000135907001291116512265606.7511652326.4125

Non trade receivables749000599200250000237500225625214343.75203626.562514612911810899

Provision for doubtful debts-1200000-1200000-1200000-1140000-1083000-1028850-977407.5

Post Office investments short term0000000

Postbank investments short term0000000



Cash and cash equivalents6810002000001001000384500080070001350200020181000

TOTAL ASSETS212740001985835325459700274601133083307435566126.841527068.545


Capital and reserves36700021994242726000504997986026991338186519386152

Share capital0000000

Accumulated Profit (loss)36700021994242726000504997986026991338186519386152

Non-current liabilities7224000089100008910000891000089100008910000






Provisions0000000

Current liabilities13683000176588701382391013499636.713320250.06613274162.9917413230510.2510146

Trade payable11409000154590501172791011397072.711200131.24611126629.9335411053363.6342046

Non trade payable988000978120938600910442892233.16882810.8284874482.720116

Funds collected on behalf of third parties0000000




Taxation12860001221700115740011921221227885.661264722.22981302663.896694


0

TOTAL EQUITY AND LIABILITIES21274000198582942545991027459615.730832949.06635566027.9917441526662.2510146

CONTROL0000059000-210000497.300000000700124.93400000040098.808259993800406.29398539660

TOTAL INVESTMENTS0000000

POSTBANK INVESTMENTS

POST OFFICE INVESTMENTS

PO INCLPB CASH

MANAGEMENT ACCOUNTS

SA POST OFFICE LIMITED CONSOLIDATED

BALANCE SHEET AS AT 31 MARCH 2003

MARCHMARCHCHANGE

2001/20022002/2003

R'000R'000R'000

ASSETS

Non-current assets01156889006.930

Property, plant and equipment1084309088.32908697690.53-175611397.792001/02YTD

Intercompany loans15527339018738600032112610SAPO155273390187386000

Impairment of intercompany loans000SUBS155273390187386000

Investment in subsidiaries37381359.7822554228(14,827,132)DIFF00

Investments long term32877593.436952088.44074495PENSC12280001230000


Deferred taxation01,299,0000-1228000-1230000

Current assets1219880633.271380712411.34160832178.07


Inventories : saleable stock38275666.1847743305.8394676

Documents

2003/2004 SUBSIDY