| (1) |
Basis of preparation and accounting policies
The reviewed condensed consolidated financial results have been prepared in accordance with the historic cost convention
except for certain financial instruments, which have been stated at fair value.
Accounting policies have been applied consistently by all entities in the Group and are consistent with those applied in the
previous financial year.
The reviewed condensed consolidated financial results and accounting policies comply with the Listings Requirements of the
JSE Limited, International Financial Reporting Standards, the disclosure requirements of IAS 34 – Interim Financial Reporting
and the South African Companies Act (No. 61 of 1973), as amended. |
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| (2) |
Includes foreign revenue of R2 541 million (2008: R3 406 million). |
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| (3) |
Calculated in accordance with IAS 33. 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. |
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| (4) |
Net of 11 884 669 (2008: 11 884 669) treasury shares held by a subsidiary company. |
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| (5) |
Discontinued operations
The remaining South African businesses of SANS Fibres discontinued manufacturing activities at the end of March 2009. |
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| (6) |
The auditors, KPMG Inc., have reviewed these condensed consolidated financial results. The auditors’ unqualified review
report is available for inspection at the Company’s registered office. |
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| (7) |
The reviewed condensed consolidated financial statements do not include all of the information required for full annual
financial statements and should be read in conjunction with the consolidated annual financial statements for the year ended
31 December 2008. |
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| (8) |
The preparation of the financial statements requires management to make judgements, estimates and assumptions that
affect the application of policies and reported amounts of assets and liabilities, income and expenses. The estimates and
associated assumptions are based on historical experience and various other factors that are believed to be reasonable
under the circumstances, the results of which form the basis of making the judgements about carrying values of assets and
liabilities that are not readily apparent from other sources. Actual results may differ from these estimates. |
