VISION, MISSION AND CORE VALUES VISION To be the dominant food and beverage manufacturer and marketer in the region in defined
DIRECTORATE STATUTORY INFORMATION Country of Incorporation: The company and its subsidiaries are incorporated in Zimbabwe. Busi
DIRECTORATE GROUP OFFICERS Secretaries: Cairns Holdings Management Services (Private) Limited Registered Offices: Cairns Foods
GROUP AND COMPANY STRUCTURE MAIN BOARD Dr. C.M.B. Utete Z.L. Rusike Left to right: Prof. H.H. Patel, T.C. Sithole, S. Gweshe, C
GROUP ENVIRONMENTAL, HEALTH & SAFETY POLICY Cairns foods is a manufacturer and distributor of food and beverage products. We ac
CHAIRMAN’S STATEMENT REVIEW OF THE YEAR In this, my first report to you as Chairman, the Group posted a resilient set of result
CHAIRMAN’S STATEMENT average. Paprika incurred overheads after the fire against a background of no sales and this contributed t
REVIEW OF OPERATIONS CAIRNS FOODS LIMITED This year was one of the most challenging in our history. There was a sharp decline i
REVIEW OF OPERATIONS GROCERIES DIVISION Divisional volumes were marginally below last year by 3%. Overall performance was drive
REVIEW OF OPERATIONS Turnover increased by a modest 278% to $28.7 billion. The division remains the driver of export growth in
REVIEW OF OPERATIONS M.E. CHARHON (PRIVATE) LIMITED (60% shareholding) Although turnover was up on last year by 570%, margins d
REVIEW OF OPERATIONS Technical Services The Technical Services Division continues to lead the organisation in the implementatio
REVIEW OF OPERATIONS THE YEAR AHEAD The challenge of growing a business in a climate of uncertain economic growth is always a d
R ATIOS FOR THE YEAR ENDED 31 AUGUST 2004 AND STATISTICS The ratios for both years 2003 and 2004 refer to their comparative 12
R ATIOS AND STATISTICS TURNOVER BY COMPANY 2002 43% 52% 22% 2003 26% 2004 4% 3% 71% 74% 5% PROFIT BEFORE TAX 2002 2003 2004 31%
GROUP STATEMENT OF VALUE ADDED Inflation Adjusted 2004 $million Net income from all sources Raw & packing materials Outside ser
CORPORATE GOVERNANCE CODE OF ETHICS Cairns Holdings recognises its responsibility to conduct business with integrity and in acc
CORPORATE GOVERNANCE REMUNERATION COMMITTEE The remuneration and service contracts of executive directors and senior management
REPORT OF THE DIRECTORS To the shareholders of cairns holdings limited The directors have pleasure in submitting their reports
DIRECTORS’ RESPONSIBILITY STATEMENT The directors are responsible for: 1 presenting the shareholders with a balanced and unders
REPORT OF THE INDEPENDENT AUDITORS to the members of CAIRNS HOLDINGS LIMITED We have audited the financial statements of Cairns
GROUP INCOME STATEMENT FOR THE YEAR ENDED 31 AUGUST 2004 Notes Inflation adjusted 2004 2003 $million $million 280 463 ( 193 312
BALANCE SHEETS AS AT 31 AUGUST 2004 Notes Inflation Adjusted Group Company 2004 2003 2004 2003 $million $million $million $mill
STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 AUGUST 2004 Share capital $million GROUP (Inflation Adjusted) Balance at 1
GROUP CASH FLOW STATEMENT FOR THE YEAR ENDED 31 AUGUST 2004 Notes Net cash flows from operations Operating profit Monetary loss
ACCOUNTING POLICIES FOR THE YEAR ENDED 31 AUGUST 2004 The principal accounting policies of the group, which are set out below,
ACCOUNTING POLICIES FOR THE YEAR ENDED 31 AUGUST 2004 2 Consolidation Subsidiary undertakings, which are those companies in whi
ACCOUNTING POLICIES FOR THE YEAR ENDED 31 AUGUST 2004 5 Leased Assets Leases of fixed assets where the group assumes substantia
ACCOUNTING POLICIES FOR THE YEAR ENDED 31 AUGUST 2004 10 Deferred taxation Deferred income tax is provided, using the liability
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2004 1 OPERATING PROFIT The following items have been charged/(c
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2004 Group Inflation Adjusted 2004 2003 $million $million 3 TAXA
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2004 3 TAXATION - continued 3.2.2 Deferred taxation - continued
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2004 5 FIXED ASSETS Land Buildings & Vineyards $million (Inflati
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2004 5 FIXED ASSETS Land Buildings & Vineyards $million 246 1 41
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2004 Inflation Adjusted Group Company 2004 2003 2004 2003 $milli
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2004 Inflation Adjusted Group Company 2004 2003 2004 2003 $milli
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2004 10 DIRECTORS' SHAREHOLDING At 31 August 2004 the directors
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2004 11 BORROWINGS - continued The interest rates on all finance
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2004 Group Inflation Adjusted 2004 2003 $million $million 14 CHA
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2004 18 FINANCIAL INSTRUMENTS Treasury Risk Management The opera
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2004 21 SEGMENTAL ANALYSIS (Inflation Adjusted) Year ended 31 Au
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2004 21 SEGMENTAL ANALYSIS (continued) Historical Year ended 31
ANALYSIS OF SHAREHOLDERS FOR THE YEAR ENDED 31 AUGUST 2004 Shareholding 1 101 201 501 1 001 5 001 10 001 50 001 100 001 500 001
SHAREHOLDERS’ DIARY FINANCIAL YEAR ENDED 31st AUGUST 2004 Annual report published Final dividend paid Fourth Annual General Mee
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VISION, MISSION AND CORE VALUES VISION To be the dominant food
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DIRECTORATE STATUTORY INFORMATION Country of Incorporation: The
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DIRECTORATE GROUP OFFICERS Secretaries: Cairns Holdings Managem
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GROUP AND COMPANY STRUCTURE MAIN BOARD Dr. C.M.B. Utete Z.L. Ru
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GROUP ENVIRONMENTAL, HEALTH & SAFETY POLICY Cairns foods is a m
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CHAIRMAN’S STATEMENT REVIEW OF THE YEAR In this, my first repor
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CHAIRMAN’S STATEMENT average. Paprika incurred overheads after
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REVIEW OF OPERATIONS CAIRNS FOODS LIMITED This year was one of
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REVIEW OF OPERATIONS GROCERIES DIVISION Divisional volumes were
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REVIEW OF OPERATIONS Turnover increased by a modest 278% to $28
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REVIEW OF OPERATIONS M.E. CHARHON (PRIVATE) LIMITED (60% shareh
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REVIEW OF OPERATIONS Technical Services The Technical Services
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REVIEW OF OPERATIONS THE YEAR AHEAD The challenge of growing a
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R ATIOS FOR THE YEAR ENDED 31 AUGUST 2004 AND STATISTICS The ra
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R ATIOS AND STATISTICS TURNOVER BY COMPANY 2002 43% 52% 22% 200
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GROUP STATEMENT OF VALUE ADDED Inflation Adjusted 2004 $million
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CORPORATE GOVERNANCE CODE OF ETHICS Cairns Holdings recognises
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CORPORATE GOVERNANCE REMUNERATION COMMITTEE The remuneration an
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REPORT OF THE DIRECTORS To the shareholders of cairns holdings
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DIRECTORS’ RESPONSIBILITY STATEMENT The directors are responsib
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REPORT OF THE INDEPENDENT AUDITORS to the members of CAIRNS HOL
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GROUP INCOME STATEMENT FOR THE YEAR ENDED 31 AUGUST 2004 Notes
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BALANCE SHEETS AS AT 31 AUGUST 2004 Notes Inflation Adjusted Gr
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STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 AUGUST 200
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GROUP CASH FLOW STATEMENT FOR THE YEAR ENDED 31 AUGUST 2004 Not
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ACCOUNTING POLICIES FOR THE YEAR ENDED 31 AUGUST 2004 The princ
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ACCOUNTING POLICIES FOR THE YEAR ENDED 31 AUGUST 2004 2 Consoli
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ACCOUNTING POLICIES FOR THE YEAR ENDED 31 AUGUST 2004 5 Leased
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ACCOUNTING POLICIES FOR THE YEAR ENDED 31 AUGUST 2004 10 Deferr
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST
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ANALYSIS OF SHAREHOLDERS FOR THE YEAR ENDED 31 AUGUST 2004 Shar
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SHAREHOLDERS’ DIARY FINANCIAL YEAR ENDED 31st AUGUST 2004 Annua
African Annual Reports
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