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Income statement |
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2006
|
2005
|
| |
|
%
change |
R
millions |
R millions |
| |
|
|
|
|
|
|
| |
Revenue (2) |
+16 |
10 212
|
8 768 |
| |
|
| |
Profit from operations |
+24 |
1 102
|
887 |
| |
Creation of pension fund employer surplus account |
|
196 |
– |
| |
Release of provision for post-employment medical aid benefits |
|
131
|
– |
| |
|
|
|
|
1 429 |
887 |
| |
Net financing costs |
|
(103) |
(90) |
| |
Income from associates and investments |
|
7 |
5 |
| |
|
| |
|
|
1 333 |
802 |
| |
Transitional provision for post-employment medical aid benefits |
|
– |
(20) |
| |
Impairment of goodwill |
|
(6) |
(10) |
| |
Exceptional items |
|
(21) |
(27) |
| |
|
| |
Profit before tax |
|
1 306 |
745 |
| |
Tax |
|
(353) |
(225) |
| |
|
| |
Net profit |
|
953 |
520 |
| |
Attributable to preference and minority shareholders |
|
(37) |
(34) |
| |
|
| |
Profit attributable to ordinary shareholders |
|
916 |
486 |
| |
|
| |
Headline earnings are derived from: |
|
|
|
| |
Profit attributable to ordinary shareholders |
|
916 |
486 |
| |
Transitional provision for
post-employment medical aid benefits |
|
– |
20 |
| |
Impairment of goodwill |
|
6 |
10 |
| |
Exceptional items before tax |
|
21 |
27 |
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Tax effects of the above items |
|
(1) |
(13) |
| |
|
|
Headline earnings |
|
942
|
530 |
| |
|
| |
Per ordinary share
(cents): |
|
|
|
| |
Headline earnings |
+77 |
853
|
482 |
| |
Diluted headline earnings (3) |
|
842 |
473 |
| |
Attributable earnings |
|
829
|
442 |
| |
Diluted attributable earnings (3) |
|
819 |
434 |
| |
Dividends declared |
+17 |
205
|
175 |
| |
Dividends paid |
|
185
|
148 |
| |
Ordinary shares (millions) (4) |
|
|
|
| |
– in issue |
|
110
|
110 |
| |
– weighted average number
of shares |
|
110
|
110 |
| |
– diluted weighted average number
of shares (3) |
|
112
|
112 |
| |
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Notes |
| (1) |
Accounting policies are in accordance with International Financial Reporting Standards and are consistent with those applied in the previous
financial year. |
| (2) |
Includes foreign sales of R2 302 million (2005 - R1 817 million). |
| (3) |
Calculated in accordance with IAS33. The Company has purchased call options over AECI shares which will obviate the need for the Company to issue new shares in terms of the AECI share option scheme. In practice, therefore, there will be no future dilution of earnings from this source. |
| (4) |
Net of 10 311 120 (2005 -10 311 120) treasury shares held by a subsidiary company. |
| (5) |
The auditors, KPMG Inc, have issued their opinion on the Group annual financial
statements for the year ended 31 December 2006.
A copy of the auditors' unqualified report is available for inspection at the
Company's registered office. |
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