New retail outlets

New retail outletsBefore AfterKey Achievements

PostBank: Growth in deposit baseKey Achievements

Capital Flows

Mar-01Apr-01May-01Jun-01Jul-01Aug-01Sep-01Oct-01Nov-01Dec-01Jan-02Feb-02Mar-02DEPOSITS IN POSTBANK PRODUCTS

2001/2002R'000R'000R'000R'000R'000R'000R'000R'000R'000R'000R'000R'000R'000APRMAYJUNJULAUGSEPOCTNOVDECJANFEBMAR

Smart Save810,567731,594740,339747,792754,928763,774772,074777,879791,283758,943731,766756,262754,777

Flexi Card83,61086,85992,25395,19697,12698,601103,741109,140109,706106,256111,944113,912

Maxi Save138,741135,519133,809130,970129,649127,739124,164122,673121,067120,160118,858117,486116,247

National Savings Certificates60606060606060595959595959

Capital Balance949,368950,783961,067971,075979,833988,698994,8981,004,3521,021,549988,868956,939985,752984,995

Capital Inflow / (Outflow)1,41510,28410,0088,7588,8666,2009,45417,197(32,680)(31,929)28,813(757)

Mar-01Apr-02May-02Jun-02Jul-02Aug-02Sep-02Oct-02Nov-02Dec-02Jan-03

2002/2003R'000R'000R'000R'000R'000R'000R'000R'000R'000R'001R'001

Smart Save810,567787,617804,469822,101831,563856,320880,055887,775900,767856,700821,347

Flexi Card119,935127,382134,543136,935137,456138,415156,906165,282166,082163,161

Maxi Save138,741114,726113,692112,305111,216110,590112,158114,554116,827119,214121,903


Capital Balance984,9951,022,3371,045,6021,069,0081,079,7731,104,4251,130,6871,159,2951,182,9361,142,0551,106,471

Capital Inflow / (Outflow)(757)37,34223,26523,40610,76524,65226,26228,60723,641(40,880)(35,585)

TOTALSMART SAVEFLEXI CARDMAXI SAVE

DEPOSIT GROWTHR'000%R'000%R'000%R'000%

Over the last 3 months(52,824)-4.6%(66,428)-7.5%6,2554.0%7,3496.4%

Over the last 6 months26,6972.5%(10,216)-1.2%26,22619.2%10,6879.6%

Year to Date121,47512.3%66,5708.8%46,91441.2%5,6564.9%

Capital Flows

00

00

00

00

00

00

00

00

00

00

0

0

2001/2002

2002/2003

R'million

POSTBANK CAPITAL FLOWS : SAVINGS PRODUCTS

Accounts



Smart Save810,5671,1341,1451,1541,1671,1791,1901,2011,2111,2191,2321,2491,265

Flexi Card451465478494510525540554566584606625

Maxi Save138,741444443424241404040393938

Total Accounts949,3081,6291,6531,6751,7031,7311,7551,7811,8051,8241,8551,8931,928

Increase / (Decrease)232423282824262419313834


2002/2003R'000R'000R'000R'000R'000R'000R'000R'000R'000R'001R'001

Smart Save810,5671,2811,2981,3151,3261,3291,3331,3351,3371,3321,335

Flexi Card648674697722748780825870892926

Maxi Save138,74138383737373737383838

Total Accounts1,9281,9672,0102,0492,0852,1132,1492,1972,2442,2622,300

Increase / (Decrease)3439433936283648471937


ACCOUNT GROWTHR'000%R'000%R'000%R'000%

Over the last 3 months1034.7%00.0%10112.3%12.8%


Year to Date37219.3%705.6%30248.3%(0)-0.3%

Accounts

00

00

00

00

00

00

00

00

00

00

0

0

2001/2002

2002/2003

R'million

POSTBANK NUMBER OF ACCOUNTS

OpenClose



Accounts Opened810,56730,88431,90130,14831,94533,28130,08432,41530,01224,91835,81343,89339,627

Accounts Closed138,7415,6946,7146,1096,3026435,6236,2306,1456,2336,9495,8764,935

Nett New Accounts25,19025,18724,03925,64332,63824,46126,18523,86718,68528,86438,01734,692


2002/2003R'000R'000R'000R'000R'000R'000R'000R'000R'000R'001R'001

Accounts Opened810,56745,00247,18443,75447,40743,60051,60665,37162,58540,42557,244

Accounts Closed138,7415,7895,3624,8244,0744,8754,9506,3335,0154,7975,424

Nett New Accounts39,21341,82238,93043,33338,72546,65659,03857,57035,62851,820

OpenClose

00

00

00

00

00

00

00

00

00

00

Accounts Opened

Accounts Closed

R'million

ACCOUNTS OPENED vs CLOSED

AccPr SmSv

SMART SAVE

ACCOUNTS PROFILE AS AT 31 JANUARY 2003

REF:PB_BOARD\INTERVAL\SBKFIN

ACCOUNTS INTERVALAMOUNT

RcACCOUNTS%Rc%

0.01-50.00675,12950.6%7,076,787.890.9%

50.01-1,000.00382,92428.7%119,757,354.9214.6%

1,000.01-5,000.00127,3879.5%281,788,775.3934.3%

5,000.01-10,000.0021,1611.6%146,343,156.2717.8%

10,000.01-15,000.006,2570.5%74,837,094.619.1%

15,000.01-25,000.003,8400.3%73,063,066.248.9%

25,000.01-ABOVE2,6270.2%119,760,396.0714.6%

DORMANT ACCOUNTS115,8668.7%-2,140,169.31-0.3%

100.00%100.00%

TOTAL1,335,191820,486,462.08

SOURCE: FINWARE SYSTEM

NOTES

51%of the accounts have balances up to R50.00

79%of the accounts have balances below R1,000.00

AccPr FlCrd

FLEXI CARD




RcACCOUNTS%Rc%

0.01-50.00671,67572.5%9,450,527.875.6%

50.01-1,000.00170,20018.4%43,177,936.8325.5%

1,000.01-5,000.0025,5952.8%51,966,148.4130.7%

5,000.01-10,000.003,1070.3%21,221,823.1212.5%

10,000.01-15,000.008580.1%10,261,628.356.1%

15,000.01-25,000.005700.1%10,857,081.126.4%

25,000.01-ABOVE4850.1%24,415,239.2814.4%

DORMANT ACCOUNTS53,7695.8%-2,045,367.13-1.2%

100.00%100.00%

TOTAL926,259169,305,017.85


NOTES



AccPrMxSv

MAXI SAVE




RcACCOUNTS%Rc%

0.01-50.003,82510.0%191,250.000.2%

50.01-1,000.0019,25950.3%8,606,750.007.2%

1,000.01-5,000.009,25524.2%26,857,525.0022.3%

5,000.01-10,000.003,5689.3%29,424,810.0024.4%

10,000.01-20,000.001,4983.9%23,548,980.0019.6%

20,000.01-30,000.003881.0%10,340,190.008.6%

30,000.01-ABOVE4161.1%21,393,410.0017.8%

DORMANT ACCOUNTS960.3%0.000.0%

100.00%100.00%

TOTAL38,305120,362,915.00


NOTES



G Balan

POSTBANK ACTUAL CAPITAL FLOWS ON INTEREST BEARING DEPOSITS

MONTH END BALANCES

Feb-01Mar-01Apr-01May-01Jun-01Jul-01Aug-01Sep-01Oct-01Nov-01Dec-01Jan-02Feb-02Mar-02Apr-02May-02Jun-02Jul-02Aug-02Sep-02Oct-02Nov-02Dec-02Jan-03

R'000R'000R'000R'000R'000R'000R'000R'000R'000R'000R'000R'000R'000R'000R'000R'000R'000R'000R'000R'000R'000R'000R'001R'001

Smart Save& Flexi Card Accounts812,167810,567815,204827,198840,044850,124860,900870,674777,879791,283758,943731,766756,262754,777787,617804,469822,101831,563856,320880,055887,775900,767856,700821,347

Flexi Card Accounts103,741109,140109,706106,256111,944113,912119,935127,382134,543136,935137,456138,415156,906165,282166,082163,161

Maxi Save138,741138,741135,519133,809130,970129,649127,739124,164122,673121,067120,160118,858117,486116,247114,726113,692112,305111,216110,590112,158114,554116,827119,214121,903


Capital Balance950,968949,368950,783961,067971,075979,833988,698994,8981,004,3521,021,549988,868956,939985,752984,9951,022,3371,045,6021,069,0081,079,7731,104,4251,130,6871,159,2951,182,9361,142,0551,106,471

Capital Inflow / (Outflow)1,41510,28410,0088,7588,8666,2009,45417,197(32,680)(31,929)28,813(757)37,34223,26523,40610,76524,65226,26228,60723,641(40,880)(35,585)

* High inflow during October due to re-activation of inactive accounts to the amount of R 17,9 million.

NOTES:AABAA

FEBMARAPRMAYJUNJULAUGSEPOCTNOVDECJAN

FEB 2001 to JAN 2002


NOTE

A - Outflow due to seasonal period.

B - The decrease in the nett inflow for Jul.'02 was due to the accounting of Saswitch payments.

B - The inflow of deposit's for Jul.'02 through daily EFT's from SAPO amounted to R31,6 million.

TOTALSMARTFLEXI CARDMAXI SAVE

TOTAL DEPOSIT GROWTH:R'000%R'000%R'000%R'000%

Over the last 3 months(52,824)-4.8%(66,428)-8.1%6,2553.8%7,3496.0%

Over the last 6 months26,6972.4%(10,216)-1.2%26,22616.1%10,6878.8%

Over the last 12 months149,53213.5%89,58110.9%56,90634.9%3,0452.5%

G Balan

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0

0

0

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0

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Balances ( R ' 000 )

BALANCES ON TOTAL INTEREST BEARING DEPOSITS

G Acc

NUMBER OF ACCOUNTS PER POSTBANK PRODUCT

MONTH END NUMBER OF ACCOUNTS

Mar-00Apr-00May-00Jun-00Jul-00Aug-00Sep-00Oct-00Nov-00Dec-00Jan-01Feb-01Mar-01Apr-01May-01Jun-01Jul-01Aug-01Sep-01Oct-01Nov-01Dec-01Jan-02Feb-02Mar-02Apr-02May-02Jun-02Jul-02Aug-02Sep-02Oct-02Nov-02Dec-02Jan-03

000's000's000's000's000's000's000's000's000's000's000's000's000's000's000's000's000's000's000's000's000's000's000's000's000's000's000's000's000's000's000's000's000's000's000's

Smart Save2,3982,3972,4032,4111,6001,5931,6021,6141,6221,6301,6411,6581,6721,6861,6971,7061,7191,7311,7421,2011,2111,2191,2321,2491,2651,2811,2981,3151,3261,3291,3331,3351,3371,3321,335

Flexi Card318326333340349357365375383390402422437451465478494510525540554566584606625648674697722748780825870892926

Maxi Save000000000000044444342424140404039393838383737373737383838

Total Accounts2,7162,7232,7362,7511,9481,9501,9671,9882,0042,0202,0442,0802,1092,1812,2052,2272,2552,2832,3071,7811,8051,8241,8551,8931,9281,9672,0102,0492,0852,1132,1492,1972,2442,2622,300

Increase / (Decrease)71415(803)217211616243729722423282824(526)241931383439433936283648471937

* High inflow during October due to re-activation of inactive accounts to the amount of R 17,9 million.

(181)-8.6%

NOTE

A - 552,308 Smart Save accounts (R23,6 million) transferred to Inactive Accounts. Relevant accounts not active for the past 4 years.


TOTAL ACCOUNT GROWTH:'000's%'000's%'000's%'000's%



Over the last 12 months44519.3%1037.7%34236.9%(1)-2.2%

G Acc

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Accounts (000's)

NUMBER OF POSTBANK ACCOUNTS

G Op Cl

POSTBANK - SMART SAVE & FLEXI CARD ACCOUNTS : OPENED vs ACCOUNTS CLOSED

MONTH END VOLUMES

Mar-01Apr-01May-01Jun-01Jul-01Aug-01Sep-01Oct-01Nov-01Dec-01Jan-02Feb-02Mar-02Apr-02May-02Jun-02Jul-02Aug-02Sep-02Oct-02Nov-02Dec-02Jan-03

Accounts Opened37,02130,88431,90130,14831,94533,28130,08432,41530,01224,91835,81343,89339,62745,00248,86743,75447,40743,60051,60665,37162,58540,42557,244

Flexi Card Accounts

Accounts Closed6,5555,6946,7146,1096,3026,4335,6236,2306,1456,2336,9495,8764,9355,7895,5484,8244,0744,8754,9506,3335,0154,7975,424

Nett New Accounts30,46625,19025,18724,03925,64326,84824,46126,18523,86718,68528,86438,01734,69239,21343,31938,93043,33338,72546,65659,03857,57035,62851,820

Nett Increase/(Decrease)(5,276)(3)(1,148)1,6041,205(2,387)1,724(2,318)(5,182)10,1799,153(3,325)4,5214,106(4,389)4,403(4,608)7,93112,382(1,468)(21,942)16,192

**AABBBCCA

NOTE

A - Historically less accounts are being opened during the relevant months.

B - Decrease in net accounts opened due to fewer number of working days available.

C - Increase in net accounts opened due to PWC (Miracle 2000) Project. 22,000 Flexi Card acc to be opened over 2 mnths.

G Op Cl

00

00

00

00

00

00

00

00

00

00

00

00

Accounts Opened

Accounts Closed

NUMBER OF ACCOUNTS

ACCOUNTS OPENED VS ACCOUNTS CLOSED

PostBank: Improvement in operating profitKey Achievements

Address expansion programmeUniversal Service Obligations Target 4018000 addresses Actual to Date 2161958 addresses Planned Roll Out 1857042 addresses

Chart2

289932

275231

569589

511643

188019

327544

Sheet1

Reginal Perspective

Year To date

Central289,932

Eastern Cape275,231

Kwazulu Natal569,589

Northren511,643

Wester cape188,019

Witswatersrand327,544

2,161,958

Sheet1

Sheet2

Sheet3

Year 1Year 2Year 3ExpectedYear 3aYear 4bYear 5c

Target906,0001,328,0001,784,1004,018,100692,948808,439808,439

Actual1,014,754693,5200453,684

Cumulative1,014,7541,708,27402,161,958

Short Falls1,857,042Oct 99- Sep 2000Oct 2000-Sep2001Oct 2001-Sep2002

Reginal Perspective

Year To date

Central289,932

Eastern Cape275,231

Kwazulu Natal569,589

Northren511,643

Wester cape188,019

Witswatersrand326,544

2,160,958

Sheet4

Sheet5

Rebalancing of the Network

Universal Service Obligations

Chart1

1744171516671609151315251037

39MOBILESMOBILESMOBILESMOBILES11MOBILES

00011264204

3933934064316648061379

PROFILE ON THE POSTAL OUTLET NETWORK SINCE BECOMING A COMPANY ON 1 OCTOBER 1991

TOTAL OUTLETS1991= 2 1761992= 2 1081993= 2 0731994= 2 0401995= 2 1891996= 2 4062002= 2 620

EXCLUDING 124 POSTNET AGENCIES

01-Oct-91

01-Oct-92

01-Oct-93

01-Oct-94

01-Oct-95

01-Oct-96

01-Mar-02

Sheet1

CTPOMOBILESPOSTPOINTSRETAIL POSTAL AGENCIES

1-Oct-911744390393

1-Oct-9217150393

1-Oct-9316670406

1-Oct-9416091431

1-Oct-95151312664

1-Oct-9615251164806

1-Mar-0210372041379

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Sheet1

PROFILE ON THE POSTAL OUTLET NETWORK SINCE BECOMING A COMPANY ON 1 OCTOBER 1991

TOTAL OUTLETS1991= 2 1761992= 2 1081993= 2 0731994= 2 0401995= 2 1891996= 2 4062002= 2 620

EXCLUDING 124 POSTNET AGENCIES

01-Oct-91

01-Oct-92

01-Oct-93

01-Oct-94

01-Oct-95

01-Oct-96

01-Mar-02

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Sapo Contribution To Rural Development

Sapo Nodal Points Connectivity

Address Expansion Programme

PIT (Public Internet Terminals)

CPO (Citizens Post Office)

MPCC (Multi- Purpose community Centers)National Priority Programmes

A site at Ubuntu village and another at Sandton library were created for the duration of the Summit

From nothing to a Post Office in only two weeks!!!!!!!!

WSSD (World summit on sustainable development)

Reintegrating SAPO into Society

SAPOs HIV/AIDs ProgrammeConducted an HIV surveillance testing to determine prevalence rate ( not as high as we thought)

Trained peer educators

HIV/AIDS - Awareness campaigns

Provision of emotional care and support to infected and affected employees through EAP

Provision condoms through the help of the Dept of Health


SAPOs Bursary ProgrammeInternal bursary programme

Aimed at addressing skill gaps in the workplace

Creating a pool of candidates in scarce job categories

Tool to redress imbalances in education levels in line with EE Act

External bursaries

Two Categories:Children of employeesExternal candidates from disadvantaged backgrounds


Abet: Good Abet results - More than 3000 learners have been through to date

Through the learning institute, SAPO will be the leading training provider for SADC

Training and Development ProgramReintegrating SAPO into Society

Key Strategic Challenges facing SAPO Declining market share (traditional mail)

Excess capacity (employees, hubs, trucks, building etc)

Re-skilling of employees

IT solution

Restructuring and refocusing the business

Medical aid liability

Pension fund conversion

Recapitalisation of the company

Major Sapo Liabilities

Strategic Direction

Strategies for the next 3 yearsReduction in staff

With the decline in mail volumes there will be surplus staff within the organisation and this will lead to further voluntary retrenchments.

However certain staff could be re-skilled in areas that The Post Office may have a lack of skills e.g. Technological Skills.

Reduction in Transport costs

This will be achieved through consolidation of transport services to allow for better utilization of transport resources and cutting of transport costs.

Restructuring to improve operating and financial performance

Strategies for the next 3 yearsShared Services

This entails the merging of common business functions e.g. HR across all subsidiaries and corporate.

The efficiencies and cost savings are achieved by removing the duplication within the Business function.

Rationalisation of hubs

The South African Post Office has many sorting centres focusing on the same thing.

Some centres are underutilized and by combining these centres the South African Post Office can greatly improve its efficiency and save costs.

Restructuring to improve operating and financial performance

Strategies for the next 3 yearsFocusing on Courier, Express and Parcels market

This market will grow and volumes are expected to increase in the foreseeable future.

Competition is usually strong in this market, however if the Post Office can improve its ability to deliver at a reasonable cost revenue potential will be enormous.

Electronic enabled services

With the growth of the internet and its related services the Post Office is diversifying into these areas to complement their current strengths and generate income from these new services.

The ECT Act provides us the platform to provide services on behalf of government and business and generate income by charging for these services

Diversifying to create new revenues from new markets and products

Strategies for the next 3 yearsIncreasing its Financial services portfolio

With the declining mail volumes the Post Office will be diversifying to provide a broad range of financial services.

The intention is to increase the percentage revenue of these services, thus becoming less dependant on mail income.

PostBank will launch more products relating to financial services and this will provide additional income to the South African Post Office.Diversifying to create new revenues from new markets and products

Diversification into Financial services37%24%23%20%18%11%10%10%7%5%5%4%4%3%1%1%0%5%10%15%20%25%30%35%40%ItalyGermanyFranceSwitzerlandSweedenBelgiumUKIrlandPortugalAustriaDanemarkFinlandNorwaySpainNetherlandsLuxembourgAverage 11%Percentage of TO carried out in the financial services in 1999

Strategies for the next 3 yearsEnvisaged Revenue Mix

Current Revenue SplitEnvisaged Revenue Split in 3 Years

Re-inventing/Transforming The Post OfficeBusinessCostsTraditionallyTransformingTransformed

Major Turnaround projects2003/2004

Major Turnaround projects

Financial Plan

BUDGET 2004-2006

SAPO Total Group

COVERPL

BUDGET

2003/2004

NOTES

NOTES / ASSUMPTIONS TO THE 2003/2004 BUDGET

1. Postbank Corporatisation.

Postbank will be corporatised and be a wholly owned subsidiary of SA Post Office.

Correct transfer pricing charges to Postbank using the ABC as the costing model.

Loan of R975 million to be converted to equity, however the interest benefit has

not been taken into account due to uncertainty of when this will occur.

2. Shareholders loan of R207 million.

The shareholders loan of R207 million will be converted to equity.

3. Medical liability.

Aggressively reduce this liability.

Capping of all future liabilities after consultation with Unions and Staff.

Buy back pensioners liability.

No liability will be incurred i.r.o new employees.

4. Courier Freight Group.

Conversion of loan to equity.

Injection of R30 million cash.

The Courier Freight Group must drastically improve their financial performance.

5. Working capital.

ACTUALSFORECASTBUDGET

2001/20022002/20032003/3004

R'000R'000R'000

sales3,332,2923,448,8023,821,822

9,1309,44910,471

Debtors458,387444,483412,639

DSR504739

The debtors day will be reduced thereby improving the cash flow of the Group.

NOTES P & L

NOTES/ ASSUMPTIONS TO THE 2003/2004 BUDGET

Income Statement

ACTUALSFORECASTCHANGECHANGEBUDGETCHANGECHANGE

2001/20022002/20032003/3004

R'000R'000R'000%R'000R'000%

GROUP

INCOME3,845,9644,047,502201,53854,468,747421,24510

POSTAL SERVICES/COURIER FREIGHT3,035,8603,103,95068,09023,474,703370,75312

MONEY-TRANSFER SERVICES40,37145,7635,3921344,541(1,222)(3)

AGENCY SERVICES256,061299,08943,02817302,5783,4891

INTEREST RECEIVED150,648225,14974,50149240,37615,2277

SUNDRY INCOME204,218150,522(53,696)(26)114,719(35,803)(24)

RENTAL INCOME14,21718,2964,0792920,5462,25012

INTERNAL CHARGES144,589204,73260,14342291,82887,09643

SA POST OFFICE

INCOME3,286,5343,544,301257,76783,916,172371,87110


COURIER FREIGHT GROUP

INCOME529,000467,751(61,249)(12)520,52052,76911

POSTAL SERVICES/COURIER FREIGHT411,000410,948(52)(0)498,95988,01121

For the current financial year, the tariff increase was an average of 7.69 % however the forecast indicates a 5 % increase revenue.

The forecast for SA Post Office indicates a 8 % increase. However the Courier Freight Group performance has been disappointing and

will be (12) % lower than the previous financial year.

A 10% increase has been budget for income for the Group.

Tariff increase of 10 %.

The SA Post Office and the Courier Freight Group will be expected to meet the budget to ensure that we constantly improve the Group's

bottom line. The management including the sales team are confident that we will achieve the budgeted income.


2001/20022002/20032003/3004

R'000R'000R'000%R'000R'000%

GROUP

EXPENSES4,109,7544,253,454143,69934,466,850213,3965

SA POST OFFICE

EXPENSES3,527,1243,703,675176,55053,916,147212,4726


EXPENSES552,250517,610(34,640)(6)518,8521,2420

Expenditure has been aggressively managed in the current financial year and we will continue to do so in the 2003/2004 financial year.

Expenditure has only increased by 5 %.

Staff numbers has been reduced by 1 840, resulting in savings of R184 million in staff expenses.


2001/20022002/20032003/3004

R'000R'000R'000%R'000R'000%

GROUP

OPERATING PROFIT / (LOSS)(263,790)(205,952)57,838(22)1,897207,849101

SA POST OFFICE

OPERATING PROFIT / (LOSS)(240,590)(159,374)81,216(34)25159,399100


OPERATING PROFIT / (LOSS)(23,250)(49,859)(26,609)1141,66851,527103

The operating loss for the Group for the current financial year will be reduced by R58 million, which is a 22 % improvement.

The SA Post Office will reduce the operating loss for the current financial by 34%.

The disappointment is the Courier Freight Group, the operating loss for the current financial will increase by R27 million.

The Group is budgeting for a break even in 2003/2004 financial year.

OPS GRAPG

SOUTH AFRICAN POST OFFICE (GROUP)

YEAROPERATING (LOSS) / PROFIT

2001/2002(352,013)

2002/2003(161,293)

2003/20041,897

2004/200555,957

2005/2006119,814

OPS GRAPG

0

0

0

0

0

SA POST OFFICE (GROUP) OPERATING (LOSS) / PROFIT

Cflow GROUP


CASH FLOW STATEMENT

MarchForecastBudgetBudgetBudgetBudget

20022002/032001/20022003/042004/052005/06

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

Cash (outflow) / inflow from operating activities-1169880003188019140344724770361119725383111829

Cash received from customers361426500038256173450426201190045784698064934709639

Cash paid to suppliers and employees-3698408000-35679354320-4001964130-4312172541-4663676033

Cash (utilised) / generated by operations-841430002576819140260047770266297265271033606

Interest received6554000236328364241580000267175440301795691

Interest paid-39078000-175208364-156903000-172352980-189717469

Taxation Paid-321000

Cash (outflow) / inflow from investing activities53546000-16300200042895-486005380-375043000-355354000

1000000

Acquisition of property, plant and equipment-61454000-120000000-73105-358447380-337950000-308525000

Replacement and renewal of intangible assets000000

Net acquisition of non current investments-430020000-1011153000-37093000-46829000

Net disposal / (acquisition) of non current assets

Increase / (decrease) of intercompany loans00000

Decrease/ (increase) in current investments115000000115000

Increase / (decrease) of equity0-88359500000

0

Cash (outflow) / inflow from subsidy418324632-13640500020000-200000000-50000000-33417000

000000

Subsidy expenses-181675368-4364050000-500000000-350000000-33417000

Subsidy received60000000030000000003000000003000000000

Cash (outflow) / inflow deposits from public54042000149546000192014000211237000253685000

Increase in deposits from the public5404200014954600020000192014000211237000253685000

(Decrease)/ increase in cash and cash equivalents4089246321689409140-149266610147313725248025829

Cash and cash equivalents at beginning of period347043000755967632755967632924908546775641936922955661

Cash and cash equivalents at end of period75596763292490854607756419369229556611170981489

-1171323107-923297279-7759835540

146778

200265

347043

BALANCE SHEET7559680009249088727756418429229553591170981187

DIFFERENCE368326-94-302-302

Bsheet GROUP

SOUTH AFRICAN POST OFFICE (GROUP): BALANCE SHEET


20022002/032001/20022003/042004/052005/06

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

ASSETS

Noncurrent assets1140886000109509716402223855164023483522642429579191

Property, plant and equipment110680900010192181640113682316412242272641258625191

Investments32877000758790000108703200011241250001170954000

Intercompany loans

Noncurrent receivables00000

Deferred taxation12000000

Current assets1289693000144246941901254703632013778190781598357548

Inventories75338000730771470694232906595212563973561

Trade and other receivables4583870004444834000409638500388911594363402799

Investments

Intercompany loans

Cash and cash equivalents75596800092490887207756418429229553591170981187

2430579000253756658303478558796037261713424027936738

EQUITY AND LIABILITIES

Capital and reserves-1312821000-13608002680-3655572680145884692259929634

Share capital2009400005856403120146923531214692353121469235312

Accumulated loss-1513761000-19464405800-1834792580-1323350620-1209305678

Noncurrent liabilities2025843000228837774002476354503022943900532543027699

Shareholder's loan20700000000000

Interest bearing borrowings1496800000000

Retirement benefit obligations696947000103459900001034599000646000000646000000

Deposits from the public102348800011730340000136504800015762850001829970000

Intercompany loans0

Provisions83440000807447400767075037210505367057699

Current liabilities1717557000160998916601367761486012858966091224979758

Trade and other payables8744690009118723860874062257852286008831164026

Funds collected on behalf of third parties2150880002215406400223756046230468728235078102

Provision for future commitments1293180001326591400126026183119724874113737630


Intercompany loans

Contributions for future intergration costs22173000

Taxation16870000

Subsidy received in advance419822000283417000083417000334170000

Bank overdraft000

2430579000253756663803478558721037261713544027937091

0-560740-12-353

INCOME GROUP

SOUTH AFRICAN POST OFFICE (GROUP) : INCOME STATEMENT

ITEMActualForecastBudgetTargetForecastBudgetBudget 2003/04BudgetBudget

2001/20022002/20032002/20032002/20032002/20032003/2004vs 2002/032004/20052005/2006

R'000R'000R'000R'000R'000R'000ChangeR'000R'000

INCOME3,845,96404,106,2644,222,5764048042109.090914,468,747246,1714,824,9185,210,997

POSTAL SERVICES/COURIER FREIGHT3,035,8603,313,5373,417,6323116575109.090913,453,00935,3773,724,5514,013,493

MONEY-TRANSFER SERVICES40,37142,07742,0774550400044,5402,46347,65850,994

AGENCY SERVICES256,061276,469276,469296656363.636364302,57826,109323,758346,422

INTEREST RECEIVED150,648142,805142,901236328363.636364241,58098,679267,175301,796

SUNDRY INCOME204,218122,656136,689129555636.363636114,719(21,970)127,593140,717

RENTAL INCOME14,21718,42918,42918766909.090909120,5462,11721,98423,523

INTERNAL CHARGES144,589190,291188,379204655727.272727291,775103,396312,199334,053

OPERATING EXPENDITURE4,197,97704,270,7204,274,7614209334909.090914,466,850(192,089)4,768,9615,091,183

STAFF EXPENSES2,188,5332,152,1452,141,01421391000002,164,912(23,898)2,306,1682,453,756

MATERIAL AND SERVICES141,697227,155228,826183225000238,276(9,450)264,245281,710

ACCOMMODATION236,696276,519274,058237560363.636364246,05028,008262,493280,047

TRANSPORT598,757591,885610,103600652181.818182585,29324,810620,040656,935

INTERNATIONAL CHARGES87,57668,35268,35276690909.090909179,912(11,560)85,50691,490

COST OF INSURANCE19,36521,76617,3662419400017,888(522)18,98620,157

PROVISION & WRITE OFFS65,53914,74315,67317284090.90909099,2616,41210,01510,835

COMMUNICATION SERVICES138,933120,087131,550107663818.181818115,20216,348122,426130,043

SECURITY SERVICES60,80059,04056,64260052090.909090971,877(15,235)76,68581,820

AUDIT,BANK & DIRECTORS FEES36,79636,07035,7373923900037,128(1,391)39,95242,972

AGENT & LEGAL COSTS18,43917,66717,66717581090.909090920,765(3,098)22,21923,774

CURRENCY ADJUSTMENTS2,212613-9384000(337)350(350)(364)

DEPRECIATION OF ASSETS178,909221,592208,345171510727.272727240,816(32,471)251,154274,856

SERVICE CONTRACTORS77,35652,95259,80257076090.909090963,367(3,565)67,45571,816

INTEREST PAID156,440129,117132,086175208363.636364156,903(24,817)172,353189,717

MARKETING19,52075,13575,88862492909.090909196,286(20,398)103,844111,756

RSC LEVY & OTHER MINOR EXP.25,82216,19817,75044532636.363636431,476(13,726)33,57335,809

INTERNAL CHARGES144,589190,291183,889204655636.363636291,775(107,886)312,199334,053

OPERATING PROFIT(LOSS)(352,013)0(164,456)(52,185)-1612928001,89754,08255,957119,814

PENSION FUND DEFICIT00000000

EARLY RETIREMENTS(78,241)(201,000)(201,000)-174535000(190,045)10,955(178,045)(26,043)

MEDICAL AID DEFICIT(249,000)(337,652)(337,652)-3016330000337,65200

GSP EXPENSES(13,714)00-64500000(200,000)0(200,000)00(100,000)(7,374)

GSP RECOVERIES181,675300,000380,200436405000500,0000119,80000350,00033,417

NON OPERATING EXPENSES(300)0033550000000

NET PROFIT/LOSS(511,593)0(403,108)(210,637)-262200800111,852322,489127,912119,814

Bsheet SAPOINCLPB

SA POST OFFICE INCLUDING POSTBANK : BALANCE SHEET


20022002/032001/20022003/042004/052005/06

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

ASSETS



Intangible assets000000

Investments527560007587900052756000108703200011241250001170954000

Intercompany loans142612000

Intercompany loans : impairment-115170000



Current assets119522000014053135124253857001203325849012710141381389854843

Inventories748070007256279082287700689346506548791863523280


Investments2519810005902680000584577000740445000891469000


2290501000244280378503380974122035852675113797631143



Share capital200940000407940000407940000129153500012915350001291535000








Provisions832420008074474080744740767075037210505367057699



Funds collected on behalf of third parties


Bank overdraft

Taxation




Taxation00000


Bank overdraft33240

2290501000244280418003380973869035852676633797631271

0-39502530-151-129

CFGbs

COURIER FREIGHT GROUP : BALANCE SHEET


20022002/032001/20022003/042004/052005/06

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

INTERCOMPANY LOANS

ASSETS


Property, plant and equipment59879891576068910462068913409889121802891NONCURRENT L147500312

Intangible assets000000C LIABILITIES0

Investments0147500312

Intercompany loans



Current assets94388266752143570773220790106804940208502704

Inventories530265514357583292488639464207450281


Taxation01130.11232876711367.01095890411530.61713.802739726

Cash and cash equivalents183855300169536921142217236656.205430907158.454.75

15426815713282124801235289700140903831230305595


Capital and reserves-108324780340753205075532046685532134615532

Share capital200000177700312177700312177700312177700312177700312







Provisions00000





Bank overdraft

Taxation




Taxation00000

Provisions2967467785000000807500076712507286688

Bank overdraft38058450332425944296

15426765913282090901235291490140903691230305820

4983390-1790139-224

WORKING CAPITAL

SOUTH AFRICAN POST OFFICE LIMITED CONSOLIDATED (BUDGET)

WORKING CAPITAL MANAGEMENT

MarchForecastBudgetBudgetBudget

20012001/022002/032003/042004/05

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

TURNOVER00000

CURRENT ASSETS1,289,693,0001,442,469,4191,254,703,6321,377,819,0781,598,357,548

CURRENT LIABILITIES1,717,557,0001,609,989,1671,367,761,4861,285,896,6091,224,979,758

CURRENT RATIO0.750.900.921.071.30

CURRENT ASSETS1,289,693,0001,442,469,4191,254,703,6321,377,819,0781,598,357,548

INVENTORY75,338,00073,077,14769,423,29065,952,12563,973,561


ACID TEST RATIO0.710.850.871.021.25

TRADE RECEIVABLES458,387,000444,483,400409,638,500388,911,594363,402,799

TRADE RECEIVABLE AS % OF TURNOVER0%0%0%0%0%

DEBTORS COLLECTION PERIOD (DAYS)00000

INVENTORY75,338,00073,077,14769,423,29065,952,12563,973,561

COST OF SALES149,304144,823152,065159,668167,651

STOCK TURNOVER PERIOD (DAYS)184,177184,177166,636150,766139,279

EXPENSES00000

CREDITORS874,469,000911,872,387874,062,257852,286,008831,164,026

CREDITORS PAYMENT PERIOD (DAYS)00000

BUSINESS CYCLE



00000


00000

WORKING CAP




20012001/022002/032003/042004/05

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

TURNOVER00000

INVENTORY75,338,00073,077,14769,423,29065,952,12563,973,561

CONSUMABLES22,78426,20224,89223,64722,465

MERCHANDISE (SALEABLE STOCK)75,315,21673,050,94569,398,39865,928,47863,951,097

COST OF SALES149,304144,823152,065159,668167,651

50,44450,44145,63741,29138,145


Note :

This ratio indicates the number days sales in stock.

The decrease in the ratio is due to a assumption that

efforts will be made to decrease stock by 5 %.

CURRENT ASSETS1,289,693,0001,442,469,4191,254,703,6321,377,819,0781,598,357,548

CASH755,968,000924,908,872775,641,842922,955,3591,170,981,187

CURRENT ASSETS EXCLUDING CASH533,725,000517,560,547479,061,790454,863,719427,376,360

TRADE & OTHER PAYABLES874,469,000911,872,387874,062,257852,286,008831,164,026

CURRENT RATIO0.610.570.550.530.51

Note :

Current assets exclude cash,

Current liabilities - trade payables has only been taken into account.

TURNOVER00000

POSTAL SERVICES00000

TRADE & OTHER RECEIVABLES458,387,000444,483,400409,638,500388,911,594363,402,799

TRADE RECEIVABLES361,085343,031325,879309,585294,106

SUNDRY RECEIVABLES127,103120,748114,710108,975103,526

STAFF RECEIVABLES2,7092,5742,4452,3232,206

TAXATION3490000

PROVISION FOR DOUBTFUL DEBTS(32,732)444,017,048409,195,465388,490,711363,002,960

458,514444,483,400409,638,500388,911,594363,402,799

457,928,4860000



EXPENSES EXCLUDING INTERNAL CHARGES00000

EXPENSES EXCLUDING STAFF EXPENSES, INTERNAL CHARGES,00000

DEPRECIATION, RSC LEVIES & INTEREST PAID


TARDE PAYABLES343,636378,000359,100341,145324,087

OTHER PAYABLES210,675231,743220,155209,148198,690

RECEIPTS IN ADVANCE79,59287,55183,17479,01575,064

633,903697,293662,429629,307597,842

TRADE PAYABLES AS A % OF EXPENSES EXCLUDING INTERNAL CHARGES00000


BUSINESS CYCLE



00000


00000

PROFITABILITY


PROFITABILITY


20012001/022002/032003/042004/05

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

TURNOVER00000

EARNINGS BEFORE INTEREST & TAX(855,221)0000

NET INCOME00000

INTEREST RECEIVED00000

INTEREST PAID00000

NET FINANCE COSTS00000

00000

TOTAL ASSETS2,430,579,0002,537,566,5833,478,558,7963,726,171,3424,027,936,738

RETURN ON ASSETS(0)0000

I&E

SA POST OFFICE : INCOME & EXPENDITURE SCHEDULE

31 March 2001Apr-01May-01Jun-01Jul-01Aug-01Sep-01Oct-01Nov-01Dec-01Jan-02Feb-02Mar-02Total

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

Postal services-2580419205-184216160-222689899-199918784-212653075-210437918-190581651-223484231-222308853-184907699000-1851198268

Bulk posting-1352742485-107113042-133836723-113625257-118250264-118151258-102608406-124083948-120683807-88164039000-1026516744

Franking machines-274327909-20444121-21273786-24602324-23791880-23714204-21906144-23707087-25321563-18634645000-203395754

Speed services-224146744-931300-6989842-1075162-1590721-1768335-1440645-1872288-1826265-1343614000-18838171

Stamp sales-307815702-21976537-26664339-28765408-29783636-29597811-27843472-29194489-32793941-30528398000-257148031

Parcels-157277841-9049375-7708117-7256900-4958449-5391801-4710402-6811581-7124157-5852296000-58863078

Foreign mail-127552922-5537620-5385067-4491488-12646444-8320216-11443785-13013125-11513378-7640635000-79991757

Box rents, keys, private bags-92274530-7670668-8030242-8207592-8415440-8893979-8487650-8595469-8640586-20749599000-87691225

Business reply services-14038899-256687-22417513790155876-933230-997845-1143810-1147491-767710000-5301283

Securemail-38904407-3045222-3347399-2098927-3597736-3092317-3114127-4573909-2117508-2762084000-27749229

Envelopes-30687537-2601402-3844520-3117260-4034180-4771537-4457963-5608236-4971233-3854455000-37260788

Registered mail-5632449-2476170-3249096-3973498-3766005-4414758-3528053-4191134-3971836-2707986000-32278534

Retail postal services-6144342-999230-1278395-1446910-643383-502842284099-71014-68433-46790000-2320341

Philately services-10617714-493272-558668-1068509-925069-895041-1933415-1231767-1591303-1372016000-10069060

Parcelplus00000000000000

Parcel Plus handling fees-1856-4-49-57-390-155-245-2370-139000-1275

XPS Delivery service : Marketing Campaign-1950-49-57-82-155-245-2370-139000-963

Internal charges SSC (80670000)-20204296-1289561000001289561000000

Internal charges SSC (40910000)937261059787120050868941374306817060442655961233143094000674777

Other-11775483-341736-419480-290118-542703-511006-453797-741057-660665-486248000-4446810

Money transfer services-52189724-3046562-3778462-3467645-4043472-4334837-4026818-4346850-2262379-2905778000-32212805

Money order commission-31876613-2035695-2624594-2492824-2387443-2474429-2771329-3147087-2701508-2238331000-22873240

Postal order commission-20313111-1010867-1153868-974822-1656030-1860408-1255489-1199763439129-667447000-9339565

Agency services-422358506-31360717-31462453-35693429-28471806-31070205-27751119-29268662-30917828-27384613000-273380831

Pensions-60339011-4553599-4636701-4795571-5042158-4507165-5978086-5374093-3867479-7266600000-46021452

Municipalities-16157562-1272575-1467762-1324325-1384952-1348354-1302780-1093887-1565882-1361890000-12122407

Telkom-140146035-11186638-9496606-13470166-7227546-12029892-9611658-7870557-12397784-8291239000-91582086

Uthingo-4837580-357196-365547-406921-352056-376648-335758-2973021-2943437-418875000-8529459

TV & Revenue stamps-14162467-999616-1175641-1018272-1362618-689258-1040163-951424-1104319-1072162000-9413473

Ithuba sales50818100-752956000000000-752956

Phonecards-170958975-11917187-13157969-12811748-11876005-10733597-8436613-9848004-7159297-5968140000-91908558

Other-16265058-1073906-1162227-1113471-1226470-1385292-1046062-1157676-1879631-3005707000-13050440

-3054967435-218623439-257930814-239079858-245168353-245842960-222359588-257099743-255489060-215198089000-2156791903

SOUTH AFRICAN POST OFFICE LIMITED

SCHEDULE : INCOME & EXPENDITURE

2001

R '000

Revenue-3142455597-228167854-265902858-244399567-255705790-254164112-229096596-266952070-263425109-226064628000-2233878582

Postal services-2580419205-184216160-222689899-199918784-212653075-210437918-190581651-223484231-222308853-184907699000-1851198268

Agency services-422358506-31360717-31462453-35693429-28471806-31070205-27751119-29268662-30917828-27384613000-273380831


Retail products00000000000000

Postbank-31413210-2258204-2251580-2218811-5523777-3185850-3767031-3487507-4018667-3560303000-30271730

Ledger fees-31418507-2258204-2251580-2218811-5523777-3185850-3767031-2080799-3334709-2953790000-27574551

Postbank interest0

Transaction charges5297000000-1406708-683958-606512000-2697179

-56074952-7286212-5720464-3100897-5013660-5135302-2969977-6364820-3917382-7306236000-46814949

Other income-19748240-1998044-2747902-1584032-1539573-1603231-2022329-1780356-1753044-1600644000-16629155

Rent-17689763-1934853-2561878-1601488-1308213-1380725-1941690-1675273-1668552-1546631000-15619302

Net profit on disposal of fixed assets-1277422-49-5382-8372-17770600000000-191509

Personnel repayments-781056-63142-18064325828-53654-222506-80639-105082-84492-54013000-818343

Non-operating revenue-36326712-5288168-2972561-1516865-3474087-3532071-947647-4584465-2164338-5705592000-30185794

Currency gains-10525921-795366209746133182-1973748-413583-61927916658555120562168498000887361

Admin fees received-1200000-100000-100000-100000-10000000000000-400000

Fax and photo copier income-3687334-266137-331652-354083-311123-399302-322989-369180-383203-242199000-2979868

Sundry income-18772806-4015040-2632771-1113084-968181-262651392567-5825621-2252552-7573772000-26914967

Internal rent0-44636-44636-44636-44636-44636-44636-44636-44636-44636000-401720

Discount earned-2140652-66990-73249-38245-76400-48038-53311-108833997-13483000-376601

Expenditure42229417422860377372911317463150347282886129612976045773485319982695477614551591723102506710002861911351

Staff expenses25953976391890244242006469561989781141918368683747064131110141301921178622246437122183684510001901336931

Transport393477025250867082235800824615278230570602013642314786953206786862417037927020169000201909665

Accommodation204912946137394171646120213575192139209801354445215501634160810201598549113647100000132456488

Material and services1425651604570179-8499749925004771472-156500658130161274-3157151913933726045656400096132075

Cost of phonecards147605044102597861153751611206321103817179147120724606884197846164111506265900079425083

Cost of Uthingo1699114404408609825858874825907841668109843214588081437661-7161013000374570

Depreciation17653027013178877835678314031777141702591398209912339130141163561389357913893472000117962333

Total losses (including doubtful debts872638375755995483766823215765-291990218191292156239722665-6207221914923100057579648

written off and insurance)0

Professional fees0

International commitments73213673454894046207442737664733345838179807869668562621313628018793170400058114389

Bulk posting incentives00000000000000

Currency losses7835158146034623313513171249950258892698336116316611867211184360005235183

Loss on disposal of fixed assets761296996231548362136417-682364568214871213023261160001048169

Consultancy fees122931538-60851835069903532828385385851146183782666165771143965355395826600043683177

Sundry261897367189691711817035816937733175034031719730427996597151454761695408217779516000166653640

Services rendered by Telkom SA106206596843182667454676908206720097155309361171436079543663893628556233600063942097

Marketing313241402041451514272789922409369149095416465348791292489305151282800010936457

Security services4659000636119813589758381643126610433666573390931934256123936830452990800033147456

Bank charges237771362458930191110691584720868532347050249692711045981997618152021700016839147

Saswitch fees40470032100-321000642000128400321000-96300000128400

Auditors remuneration150145755000005000005000007557275000004194854-257530811979455200190006093237

Director Fees3592504000306506005960019550639504000201500000202500

RSC levies102603338260028232298799508381428333537788278096727877458894690007466391

Restaurant outsourcing37744897645033756226550623466929736075931151560321139908900001851065

Skills development levy244212513168911257399119903312521221158346109530711699541304211129504500011048308

Commission paid: Pensecure9521180000000000000

Agents136783341129162116324611764749346361051908113949311811751334426124173200010352252

Legal expenses-34551649247320881989350461831125288111304781303721014970001028129

Other7459083328437297679465872501452270149723883878142-4592886118740003618201

OPERATING LOSS including Postbank Interest108048614505786988325228889706351613290717143440465119435402259569119173406384186044000628032768

Interest Postbank-77657087-3111700-3022824-2753077-2553975-2520020-3658456-2317365-2375279-2368423000-24681118

0

OPERATING LOSS1002829058547581842220606467882084303531964092044511577694627832618935878481817621000603351651

Net finance expense164397407716071296502228274911536572426118262622-24295314955514507360009550592

Loss before subsidy101926879855529791235025667016483331506853433465631160395683537418950833983268356000612902243


Net loss for the year87166033955529791235025667016483331506853371984651156742083537418780582783268356000604686273

Net loss as Trial Balance87166033955529791235026157016489031506934371986201156744533561018780582783268495000604685122

Difference00-49-57-82-155-245-2370-1390001151

Page &P of &N

SAPO IS Notes

Notes to the three year operational budget

General Remark:

The budget as forecasted for the 2002/03 financial year was used as a base to calculate

the next two years operational budget.

Assumptions were used and are listed below:

Assumptions: 2003/04 financial year

VolumeTariff/CostAdditional

ItemIncreaseIncreasevalues

R'000

INCOME

Postal services0.00%2.00%0

Money Transfer services0.00%2.00%0

Agency services0.00%2.00%0

Interest Received0.00%2.00%6,200

Sundry income0.00%2.00%0

Other income0.00%8.00%0

EXPENDITURE

Staff expenses0.00%8.00%0

Voluntary Packages0.00%0.00%395,000

Recoveries on voluntary Packages0.00%0.00%530,200

Medical Aid Deficit0.00%15.00%0

Accommodation, Transport & Postal agents0.00%10.00%0

Depreciation0.00%0.00%182,038

Interest Paid0.00%0.00%20,400

All other expenses0.00%8.00%0

Assumptions: 2004/05 financial year

VolumeTariff/CostAdditional

ItemIncreaseIncreasevalues

R'000

INCOME

Postal services0.00%2.00%0

Money Transfer services0.00%2.00%0

Agency services0.00%2.00%0

Interest Received0.00%2.00%

Sundry income0.00%2.00%0

Other income0.00%2.00%0

EXPENDITURE

Staff expenses0.00%6.00%0

Voluntary Packages0.00%0.00%521,200

Recoveries on voluntary Packages0.00%0.00%675,200

Medical Aid Deficit0.00%15.00%0

Accommodation, Transport & Postal agents0.00%10.00%0

Depreciation0.00%0.00%135,244

Interest Paid0.00%0.00%18,100

All other expenses0.00%8.00%0

SECUREMAIL

SOUTH AFRICAN POST OFFICE LIMITED EXCLUDING SUBSIDIARIESSECUREMAIL

OPERATIONAL BUDGET : 2003 to 2005

ActualsForecastRevisedTotalTotalTotal

March 2001BudgetBudgetBudgetBudget

Item2001/20022001/20022002/20032003/20042004/2005

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

INCOME (CONTROL)38,91738,91738,91739,68540,479

INCOME38,90438,91738,91738,91739,68540,479

POSTAL SERVICES38,90438,90738,90738,90739,68540,479

MONEY-TRANSFER SERVICES000000

AGENCY SERVICES000000


SUNDRY INCOME0101010

TELKOM SA RENT000000

INTERNAL CHARGES000000

EXPENSES10,91110,68713,16114,28315,502

OPERATING EXPENDITURE12,51913,28613,03014,63215,87217,218

STAFF EXPENSES3,5003,7693,7624,0044,3244,670

MATERIAL AND SERVICES3,4892,1922,0902,6562,8683,098

ACCOMMODATION7189809401,2671,3941,533

TRANSPORT2,0202,3362,3362,2032,4242,666

INTERNATIONAL CHARGES09646252629

COMMUNICATION SERVICES0344339693748808

SECURITY SERVICES445490470399431465

POSTAL AND OTHER AGENTS000000

AUDITORS AND OTHER AGENTS05050505458

CURRENCY ADJUSTMENTS000000

COST OF INSURANCE0221,1201,2101,306

PROVISIONS AND WRITE-OFFS146145145000

DEPRECIATION OF ASSETS1,7182,2302,1981,4711,5891,716

SERVICE CONTRACTORS483585585668721779

INTEREST PAID000000

MARKETING000000

RSC LEVY & OTHER MINOR EXP.06767768289


OPERATING PROFIT/(LOSS) BEFORE26,38525,63125,88824,28523,81323,261

NON OPERATING INCOME / EXPENSES000000


VOLUNTARY RETIREMENT PACKAGES000000

TRANSFER PAYMENTS (SUBSIDY)000000

MEDICAL AID DEFICIT000000

NET PROFIT/(LOSS)26,38525,63125,88824,28523,81323,261

PARCELPLUS

SOUTH AFRICAN POST OFFICE LIMITED EXCLUDING SUBSIDIARIESPARCELPUS




Item2001/20022001/20022002/20032003/20042004/2005

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

INCOME (CONTROL)096,726000

INCOME0096,726000

POSTAL SERVICES0096,726000




SUNDRY INCOME0000



EXPENSES1,0951,0951,1721,2981,412

OPERATING EXPENDITURE01,09571,9021,1721,2981,412

STAFF EXPENSES0622622660713770

MATERIAL AND SERVICES04747495357

ACCOMMODATION0151151166183201

TRANSPORT0291291314345380


COMMUNICATION SERVICES0(20)(20)(21)00





COST OF INSURANCE000000

PROVISIONS AND WRITE-OFFS000000

DEPRECIATION OF ASSETS000000


INTEREST PAID000000

MARKETING000000


INTERNAL CHARGES0070,807000

OPERATING PROFIT/(LOSS) BEFORE0(1,095)24,824(1,172)(1,298)(1,412)






NET PROFIT/(LOSS)0(1,095)24,824(1,172)(1,298)(1,412)

SPEED

SOUTH AFRICAN POST OFFICE LIMITED EXCLUDING SUBSIDIARIESSPEED SERVICES COURIERS




Item2001/20022001/20022002/20032003/20042004/2005

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

INCOME (CONTROL)221,106221,106247,998252,958258,017

INCOME215,539221,106221,106247,998252,958258,017

POSTAL SERVICES215,298221,106221,106247,998252,958258,017




SUNDRY INCOME241000



EXPENSES178,966178,966192,292206,745226,191


STAFF EXPENSES49,44248,57448,57451,58855,71560,172

MATERIAL AND SERVICES7,1442,1162,1162,1952,3712,560

ACCOMMODATION9,1276,9036,9037,5578,3139,144

TRANSPORT121,038115,304115,304124,527136,980150,678


COMMUNICATION SERVICES5,7143,1203,1203,30700

SECURITY SERVICES6831,4001,4001,4841,6031,731





PROVISIONS AND WRITE-OFFS6,76900000

DEPRECIATION OF ASSETS1,7362,8692,8693,1563,4083,681

SERVICE CONTRACTORS1,1777070707682

INTEREST PAID06565657076

MARKETING3,534378378401433468


INTERNAL CHARGES22,06343,34343,34348,53752,42056,614

OPERATING PROFIT/(LOSS) BEFORE(14,105)(4,072)(4,072)4,013(9,616)(28,469)






NET PROFIT/(LOSS)(14,105)(4,072)(4,072)4,013(9,616)(28,469)

DOCEX

SOUTH AFRICAN POST OFFICE LIMITED EXCLUDING SUBSIDIARIESDOCEX




Item2001/20022001/20022002/20032003/20042004/2005

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

INCOME (CONTROL)29,13429,13431,34431,97132,610

INCOME28,55430,33830,33832,54831,97132,610

POSTAL SERVICES27,62629,02229,02231,34431,97132,610



INTEREST RECEIVED8831,2041,2041,20400

SUNDRY INCOME451121120



EXPENSES23,23923,23924,32125,50727,720


STAFF EXPENSES11,24811,26211,26211,93812,89313,924

MATERIAL AND SERVICES741650650689744804

ACCOMMODATION1,3171,4701,4701,6171,7791,957

TRANSPORT5,8806,2006,2006,2006,8207,502


COMMUNICATION SERVICES65080080084800



AUDITORS AND OTHER AGENTS1,8381,4321,4321,5181,6391,771



PROVISIONS AND WRITE-OFFS3,7333,7003,7004,0704,3964,747

DEPRECIATION OF ASSETS686720720792855924


INTEREST PAID000000

MARKETING1,032600600636687742



OPERATING PROFIT/(LOSS) BEFORE6192,6792,6793,3651,213(780)






NET PROFIT/(LOSS)6192,6792,6793,3651,213(780)

MBD0005149B.bin

MBD0066157F.doc

POST OFFICE SAVINGS BANK

Postbank

MBD025068D8.bin

MBD02E2FE58.bin

MBD0299F976.bin

MBD0066DE2E.doc

POST OFFICE SAVINGS BANK

Postbank

MBD000EF467.doc

MBD000F2215.bin

MBD000B8E02.bin

MBD00024769.bin

MBD0003D576.bin

MBD000188BC.bin

COVERPL

BUDGET

2003/2004

NOTES

NOTES / ASSUMPTIONS TO THE 2003/2004 BUDGET

1. Postbank Corporatisation.

Postbank will be corporatised and be a wholly owned subsidiary of SA Post Office.

Correct transfer pricing charges to Postbank using the ABC as the costing model.

Loan of R975 million to be converted to equity, however the interest benefit has

not been taken into account due to uncertainty of when this will occur.

2. Shareholders loan of R207 million.

The shareholders loan of R207 million will be converted to equity.

3. Medical liability.

Aggressively reduce this liability.

Capping of all future liabilities after consultation with Unions and Staff.

Buy back pensioners liability.

No liability will be incurred i.r.o new employees.

4. Courier Freight Group.

Conversion of loan to equity.

Injection of R30 million cash.

The Courier Freight Group must drastically improve their financial performance.

5. Working capital.

ACTUALSFORECASTBUDGET

2001/20022002/20032003/3004

R'000R'000R'000

sales3,332,2923,448,8023,821,822

9,1309,44910,471

Debtors458,387444,483412,639

DSR504739

The debtors day will be reduced thereby improving the cash flow of the Group.

NOTES P & L

NOTES/ ASSUMPTIONS TO THE 2003/2004 BUDGET

Income Statement


2001/20022002/20032003/3004

R'000R'000R'000%R'000R'000%

GROUP

INCOME3,845,9644,047,502201,53854,468,747421,24510


MONEY-TRANSFER SERVICES40,37145,7635,3921344,541(1,222)(3)

AGENCY SERVICES256,061299,08943,02817302,5783,4891

INTEREST RECEIVED150,648225,14974,50149240,37615,2277

SUNDRY INCOME204,218150,522(53,696)(26)114,719(35,803)(24)

RENTAL INCOME14,21718,2964,0792920,5462,25012

INTERNAL CHARGES144,589204,73260,14342291,82887,09643

SA POST OFFICE

INCOME3,286,5343,544,301257,76783,916,172371,87110



INCOME529,000467,751(61,249)(12)520,52052,76911

POSTAL SERVICES/COURIER FREIGHT411,000410,948(52)(0)498,95988,01121

For the current financial year, the tariff increase was an average of 7.69 % however the forecast indicates a 5 % increase revenue.

The forecast for SA Post Office indicates a 8 % increase. However the Courier Freight Group performance has been disappointing and

will be (12) % lower than the previous financial year.

A 10% increase has been budget for income for the Group.

Tariff increase of 10 %.

The SA Post Office and the Courier Freight Group will be expected to meet the budget to ensure that we constantly improve the Group's

bottom line. The management including the sales team are confident that we will achieve the budgeted income.


2001/20022002/20032003/3004

R'000R'000R'000%R'000R'000%

GROUP

EXPENSES4,109,7544,253,454143,69934,466,850213,3965

SA POST OFFICE

EXPENSES3,527,1243,703,675176,55053,916,147212,4726


EXPENSES552,250517,610(34,640)(6)518,8521,2420

Expenditure has been aggressively managed in the current financial year and we will continue to do so in the 2003/2004 financial year.

Expenditure has only increased by 5 %.

Staff numbers has been reduced by 1 840, resulting in savings of R184 million in staff expenses.


2001/20022002/20032003/3004

R'000R'000R'000%R'000R'000%

GROUP

OPERATING PROFIT / (LOSS)(263,790)(205,952)57,838(22)1,897207,849101

SA POST OFFICE

OPERATING PROFIT / (LOSS)(240,590)(159,374)81,216(34)25159,399100


OPERATING PROFIT / (LOSS)(23,250)(49,859)(26,609)1141,66851,527103

The operating loss for the Group for the current financial year will be reduced by R58 million, which is a 22 % improvement.

The SA Post Office will reduce the operating loss for the current financial by 34%.

The disappointment is the Courier Freight Group, the operating loss for the current financial will increase by R27 million.

The Group is budgeting for a break even in 2003/2004 financial year.

OPS GRAPG


YEAROPERATING (LOSS) / PROFIT

2001/2002(352,013)

2002/2003(161,293)

2003/20041,897

2004/200555,957

2005/2006119,814

OPS GRAPG

0

0

0

0

0

SA POST OFFICE (GROUP) OPERATING (LOSS) / PROFIT

Cflow GROUP


CASH FLOW STATEMENT


20022002/032001/20022003/042004/052005/06

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

Cash (outflow) / inflow from operating activities-1169880003188019140344724770361119725383111829

Cash received from customers361426500038256173450426201190045784698064934709639

Cash paid to suppliers and employees-3698408000-35679354320-4001964130-4312172541-4663676033

Cash (utilised) / generated by operations-841430002576819140260047770266297265271033606

Interest received6554000236328364241580000267175440301795691

Interest paid-39078000-175208364-156903000-172352980-189717469

Taxation Paid-321000

Cash (outflow) / inflow from investing activities53546000-16300200042895-486005380-375043000-355354000

1000000

Acquisition of property, plant and equipment-61454000-120000000-73105-358447380-337950000-308525000

Replacement and renewal of intangible assets000000

Net acquisition of non current investments-430020000-1011153000-37093000-46829000

Net disposal / (acquisition) of non current assets

Increase / (decrease) of intercompany loans00000

Decrease/ (increase) in current investments115000000115000

Increase / (decrease) of equity0-88359500000

0

Cash (outflow) / inflow from subsidy418324632-13640500020000-200000000-50000000-33417000

000000

Subsidy expenses-181675368-4364050000-500000000-350000000-33417000


Cash (outflow) / inflow deposits from public54042000149546000192014000211237000253685000

Increase in deposits from the public5404200014954600020000192014000211237000253685000

(Decrease)/ increase in cash and cash equivalents4089246321689409140-149266610147313725248025829

Cash and cash equivalents at beginning of period347043000755967632755967632924908546775641936922955661

Cash and cash equivalents at end of period75596763292490854607756419369229556611170981489

-1171323107-923297279-7759835540

146778

200265

347043

BALANCE SHEET7559680009249088727756418429229553591170981187

DIFFERENCE368326-94-302-302

Bsheet GROUP

SOUTH AFRICAN POST OFFICE (GROUP): BALANCE SHEET


20022002/032001/20022003/042004/052005/06

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

ASSETS



Investments32877000758790000108703200011241250001170954000

Intercompany loans



Current assets1289693000144246941901254703632013778190781598357548

Inventories75338000730771470694232906595212563973561


Investments

Intercompany loans


2430579000253756658303478558796037261713424027936738



Share capital2009400005856403120146923531214692353121469235312







Intercompany loans0

Provisions83440000807447400767075037210505367057699






Intercompany loans

Contributions for future intergration costs22173000

Taxation16870000


Bank overdraft000

2430579000253756663803478558721037261713544027937091

0-560740-12-353

INCOME GROUP

SOUTH AFRICAN POST OFFICE (GROUP) : INCOME STATEMENT

ITEMActualForecastBudgetTargetForecastBudgetBudget 2003/04BudgetBudget

2001/20022002/20032002/20032002/20032002/20032003/2004vs 2002/032004/20052005/2006

R'000R'000R'000R'000R'000R'000ChangeR'000R'000

INCOME3,845,96404,106,2644,222,5764048042109.090914,468,747246,1714,824,9185,210,997

POSTAL SERVICES/COURIER FREIGHT3,035,8603,313,5373,417,6323116575109.090913,453,00935,3773,724,5514,013,493

MONEY-TRANSFER SERVICES40,37142,07742,0774550400044,5402,46347,65850,994

AGENCY SERVICES256,061276,469276,469296656363.636364302,57826,109323,758346,422

INTEREST RECEIVED150,648142,805142,901236328363.636364241,58098,679267,175301,796

SUNDRY INCOME204,218122,656136,689129555636.363636114,719(21,970)127,593140,717

RENTAL INCOME14,21718,42918,42918766909.090909120,5462,11721,98423,523

INTERNAL CHARGES144,589190,291188,379204655727.272727291,775103,396312,199334,053

OPERATING EXPENDITURE4,197,97704,270,7204,274,7614209334909.090914,466,850(192,089)4,768,9615,091,183

STAFF EXPENSES2,188,5332,152,1452,141,01421391000002,164,912(23,898)2,306,1682,453,756

MATERIAL AND SERVICES141,697227,155228,826183225000238,276(9,450)264,245281,710

ACCOMMODATION236,696276,519274,058237560363.636364246,05028,008262,493280,047

TRANSPORT598,757591,885610,103600652181.818182585,29324,810620,040656,935

INTERNATIONAL CHARGES87,57668,35268,35276690909.090909179,912(11,560)85,50691,490

COST OF INSURANCE19,36521,76617,3662419400017,888(522)18,98620,157

PROVISION & WRITE OFFS65,53914,74315,67317284090.90909099,2616,41210,01510,835

COMMUNICATION SERVICES138,933120,087131,550107663818.181818115,20216,348122,426130,043

SECURITY SERVICES60,80059,04056,64260052090.909090971,877(15,235)76,68581,820

AUDIT,BANK & DIRECTORS FEES36,79636,07035,7373923900037,128(1,391)39,95242,972

AGENT & LEGAL COSTS18,43917,66717,66717581090.909090920,765(3,098)22,21923,774

CURRENCY ADJUSTMENTS2,212613-9384000(337)350(350)(364)

DEPRECIATION OF ASSETS178,909221,592208,345171510727.272727240,816(32,471)251,154274,856

SERVICE CONTRACTORS77,35652,95259,80257076090.909090963,367(3,565)67,45571,816

INTEREST PAID156,440129,117132,086175208363.636364156,903(24,817)172,353189,717

MARKETING19,52075,13575,88862492909.090909196,286(20,398)103,844111,756

RSC LEVY & OTHER MINOR EXP.25,82216,19817,75044532636.363636431,476(13,726)33,57335,809

INTERNAL CHARGES144,589190,291183,889204655636.363636291,775(107,886)312,199334,053

OPERATING PROFIT(LOSS)(352,013)0(164,456)(52,185)-1612928001,89754,08255,957119,814


EARLY RETIREMENTS(78,241)(201,000)(201,000)-174535000(190,045)10,955(178,045)(26,043)

MEDICAL AID DEFICIT(249,000)(337,652)(337,652)-3016330000337,65200

GSP EXPENSES(13,714)00-64500000(200,000)0(200,000)00(100,000)(7,374)

GSP RECOVERIES181,675300,000380,200436405000500,0000119,80000350,00033,417

NON OPERATING EXPENSES(300)0033550000000

NET PROFIT/LOSS(511,593)0(403,108)(210,637)-262200800111,852322,489127,912119,814

Bsheet SAPOINCLPB

SA POST OFFICE INCLUDING POSTBANK : BALANCE SHEET


20022002/032001/20022003/042004/052005/06

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

ASSETS



Intangible assets000000

Investments527560007587900052756000108703200011241250001170954000


Intercompany loans : impairment-115170000



Current assets119522000014053135124253857001203325849012710141381389854843

Inventories748070007256279082287700689346506548791863523280


Investments2519810005902680000584577000740445000891469000


2290501000244280378503380974122035852675113797631143



Share capital200940000407940000407940000129153500012915350001291535000








Provisions832420008074474080744740767075037210505367057699





Bank overdraft

Taxation




Taxation00000


Bank overdraft33240

2290501000244280418003380973869035852676633797631271

0-39502530-151-129

CFGbs

COURIER FREIGHT GROUP : BALANCE SHEET


20022002/032001/20022003/042004/052005/06

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

INTERCOMPANY LOANS

ASSETS


Property, plant and equipment59879891576068910462068913409889121802891NONCURRENT L147500312

Intangible assets000000C LIABILITIES0

Investments0147500312

Intercompany loans



Current assets94388266752143570773220790106804940208502704

Inventories530265514357583292488639464207450281


Taxation01130.11232876711367.01095890411530.61713.802739726

Cash and cash equivalents183855300169536921142217236656.205430907158.454.75

15426815713282124801235289700140903831230305595


Capital and reserves-108324780340753205075532046685532134615532

Share capital200000177700312177700312177700312177700312177700312







Provisions00000





Bank overdraft

Taxation




Taxation00000

Provisions2967467785000000807500076712507286688

Bank overdraft38058450332425944296

15426765913282090901235291490140903691230305820

4983390-1790139-224

WORKING CAPITAL




20012001/022002/032003/042004/05

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

TURNOVER00000

CURRENT ASSETS1,289,693,0001,442,469,4191,254,703,6321,377,819,0781,598,357,548


CURRENT RATIO0.750.900.921.071.30

CURRENT ASSETS1,289,693,0001,442,469,4191,254,703,6321,377,819,0781,598,357,548

INVENTORY75,338,00073,077,14769,423,29065,952,12563,973,561


ACID TEST RATIO0.710.850.871.021.25

TRADE RECEIVABLES458,387,000444,483,400409,638,500388,911,594363,402,799



INVENTORY75,338,00073,077,14769,423,29065,952,12563,973,561

COST OF SALES149,304144,823152,065159,668167,651


EXPENSES00000

CREDITORS874,469,000911,872,387874,062,257852,286,008831,164,026


BUSINESS CYCLE



00000


00000

WORKING CAP




20012001/022002/032003/042004/05

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

TURNOVER00000

INVENTORY75,338,00073,077,14769,423,29065,952,12563,973,561

CONSUMABLES22,78426,20224,89223,64722,465

MERCHANDISE (SALEABLE STOCK)75,315,21673,050,94569,398,39865,928,47863,951,097

COST OF SALES149,304144,823152,065159,668167,651

50,44450,44145,63741,29138,145


Note :

This ratio indicates the number days sales in stock.

The decrease in the ratio is due to a assumption that

efforts will be made to decrease stock by 5 %.

CURRENT ASSETS1,289,693,0001,442,469,4191,254,703,6321,377,819,0781,598,357,548

CASH755,968,000924,908,872775,641,842922,955,3591,170,981,187

CURRENT ASSETS EXCLUDING CASH533,725,000517,560,547479,061,790454,863,719427,376,360


CURRENT RATIO0.610.570.550.530.51

Note :

Current assets exclude cash,

Current liabilities - trade payables has only been taken into account.

TURNOVER00000

POSTAL SERVICES00000

TRADE & OTHER RECEIVABLES458,387,000444,483,400409,638,500388,911,594363,402,799

TRADE RECEIVABLES361,085343,031325,879309,585294,106

SUNDRY RECEIVABLES127,103120,748114,710108,975103,526

STAFF RECEIVABLES2,7092,5742,4452,3232,206

TAXATION3490000

PROVISION FOR DOUBTFUL DEBTS(32,732)444,017,048409,195,465388,490,711363,002,960

458,514444,483,400409,638,500388,911,594363,402,799

457,928,4860000



EXPENSES EXCLUDING INTERNAL CHARGES00000

EXPENSES EXCLUDING STAFF EXPENSES, INTERNAL CHARGES,00000

DEPRECIATION, RSC LEVIES & INTEREST PAID


TARDE PAYABLES343,636378,000359,100341,145324,087

OTHER PAYABLES210,675231,743220,155209,148198,690

RECEIPTS IN ADVANCE79,59287,55183,17479,01575,064

633,903697,293662,429629,307597,842

TRADE PAYABLES AS A % OF EXPENSES EXCLUDING INTERNAL CHARGES00000


BUSINESS CYCLE



00000


00000

PROFITABILITY


PROFITABILITY


20012001/022002/032003/042004/05

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

TURNOVER00000

EARNINGS BEFORE INTEREST & TAX(855,221)0000

NET INCOME00000


INTEREST PAID00000

NET FINANCE COSTS00000

00000

TOTAL ASSETS2,430,579,0002,537,566,5833,478,558,7963,726,171,3424,027,936,738

RETURN ON ASSETS(0)0000

I&E

SA POST OFFICE : INCOME & EXPENDITURE SCHEDULE

31 March 2001Apr-01May-01Jun-01Jul-01Aug-01Sep-01Oct-01Nov-01Dec-01Jan-02Feb-02Mar-02Total

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

Postal services-2580419205-184216160-222689899-199918784-212653075-210437918-190581651-223484231-222308853-184907699000-1851198268

Bulk posting-1352742485-107113042-133836723-113625257-118250264-118151258-102608406-124083948-120683807-88164039000-1026516744

Franking machines-274327909-20444121-21273786-24602324-23791880-23714204-21906144-23707087-25321563-18634645000-203395754

Speed services-224146744-931300-6989842-1075162-1590721-1768335-1440645-1872288-1826265-1343614000-18838171

Stamp sales-307815702-21976537-26664339-28765408-29783636-29597811-27843472-29194489-32793941-30528398000-257148031

Parcels-157277841-9049375-7708117-7256900-4958449-5391801-4710402-6811581-7124157-5852296000-58863078

Foreign mail-127552922-5537620-5385067-4491488-12646444-8320216-11443785-13013125-11513378-7640635000-79991757

Box rents, keys, private bags-92274530-7670668-8030242-8207592-8415440-8893979-8487650-8595469-8640586-20749599000-87691225

Business reply services-14038899-256687-22417513790155876-933230-997845-1143810-1147491-767710000-5301283

Securemail-38904407-3045222-3347399-2098927-3597736-3092317-3114127-4573909-2117508-2762084000-27749229

Envelopes-30687537-2601402-3844520-3117260-4034180-4771537-4457963-5608236-4971233-3854455000-37260788

Registered mail-5632449-2476170-3249096-3973498-3766005-4414758-3528053-4191134-3971836-2707986000-32278534

Retail postal services-6144342-999230-1278395-1446910-643383-502842284099-71014-68433-46790000-2320341

Philately services-10617714-493272-558668-1068509-925069-895041-1933415-1231767-1591303-1372016000-10069060

Parcelplus00000000000000

Parcel Plus handling fees-1856-4-49-57-390-155-245-2370-139000-1275

XPS Delivery service : Marketing Campaign-1950-49-57-82-155-245-2370-139000-963

Internal charges SSC (80670000)-20204296-1289561000001289561000000

Internal charges SSC (40910000)937261059787120050868941374306817060442655961233143094000674777

Other-11775483-341736-419480-290118-542703-511006-453797-741057-660665-486248000-4446810


Money order commission-31876613-2035695-2624594-2492824-2387443-2474429-2771329-3147087-2701508-2238331000-22873240

Postal order commission-20313111-1010867-1153868-974822-1656030-1860408-1255489-1199763439129-667447000-9339565

Agency services-422358506-31360717-31462453-35693429-28471806-31070205-27751119-29268662-30917828-27384613000-273380831

Pensions-60339011-4553599-4636701-4795571-5042158-4507165-5978086-5374093-3867479-7266600000-46021452

Municipalities-16157562-1272575-1467762-1324325-1384952-1348354-1302780-1093887-1565882-1361890000-12122407

Telkom-140146035-11186638-9496606-13470166-7227546-12029892-9611658-7870557-12397784-8291239000-91582086

Uthingo-4837580-357196-365547-406921-352056-376648-335758-2973021-2943437-418875000-8529459

TV & Revenue stamps-14162467-999616-1175641-1018272-1362618-689258-1040163-951424-1104319-1072162000-9413473

Ithuba sales50818100-752956000000000-752956

Phonecards-170958975-11917187-13157969-12811748-11876005-10733597-8436613-9848004-7159297-5968140000-91908558

Other-16265058-1073906-1162227-1113471-1226470-1385292-1046062-1157676-1879631-3005707000-13050440

-3054967435-218623439-257930814-239079858-245168353-245842960-222359588-257099743-255489060-215198089000-2156791903

SOUTH AFRICAN POST OFFICE LIMITED

SCHEDULE : INCOME & EXPENDITURE

2001

R '000

Revenue-3142455597-228167854-265902858-244399567-255705790-254164112-229096596-266952070-263425109-226064628000-2233878582

Postal services-2580419205-184216160-222689899-199918784-212653075-210437918-190581651-223484231-222308853-184907699000-1851198268

Agency services-422358506-31360717-31462453-35693429-28471806-31070205-27751119-29268662-30917828-27384613000-273380831


Retail products00000000000000

Postbank-31413210-2258204-2251580-2218811-5523777-3185850-3767031-3487507-4018667-3560303000-30271730

Ledger fees-31418507-2258204-2251580-2218811-5523777-3185850-3767031-2080799-3334709-2953790000-27574551

Postbank interest0

Transaction charges5297000000-1406708-683958-606512000-2697179

-56074952-7286212-5720464-3100897-5013660-5135302-2969977-6364820-3917382-7306236000-46814949

Other income-19748240-1998044-2747902-1584032-1539573-1603231-2022329-1780356-1753044-1600644000-16629155

Rent-17689763-1934853-2561878-1601488-1308213-1380725-1941690-1675273-1668552-1546631000-15619302

Net profit on disposal of fixed assets-1277422-49-5382-8372-17770600000000-191509

Personnel repayments-781056-63142-18064325828-53654-222506-80639-105082-84492-54013000-818343

Non-operating revenue-36326712-5288168-2972561-1516865-3474087-3532071-947647-4584465-2164338-5705592000-30185794

Currency gains-10525921-795366209746133182-1973748-413583-61927916658555120562168498000887361

Admin fees received-1200000-100000-100000-100000-10000000000000-400000

Fax and photo copier income-3687334-266137-331652-354083-311123-399302-322989-369180-383203-242199000-2979868

Sundry income-18772806-4015040-2632771-1113084-968181-262651392567-5825621-2252552-7573772000-26914967

Internal rent0-44636-44636-44636-44636-44636-44636-44636-44636-44636000-401720

Discount earned-2140652-66990-73249-38245-76400-48038-53311-108833997-1348

Documents

New retail outlets