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Income statement        
    
 
2007
2006
2006
     
First half
First half
Year
    
 %
Unaudited
Unaudited
Audited
    
 change
R millions
R millions
R millions
 
 
Revenue (2)
+16 
5 410 
4 666 
10 212 
Profit from operations
- 29 
409 
580 
1 102 
Pension fund employer surplus account
24 
– 
196 
Release of provision for post-employment medical aid benefits
36 
– 
131 
469 
580 
1 429 
Net financing costs
(65)
(43)
(103)
Income from associates and investments
5 
4 
7 
409 
541 
1 333 
Impairment of goodwill
(2)
– 
(6)
  Exceptional items
..
(17)
(2)
(21)
Profit before tax
390 
539 
1 306 
  Tax
(126)
(111)
(353)
Profit for the period
264 
428 
953 
Attributable to preference shareholders and minority interest
(3)
(13)
(37)
  Net profit attributable to ordinary shareholders
261 
415 
916 
Headline earnings are derived from:
 
Net profit attributable to ordinary shareholders
261 
415 
916 
Impairment of goodwill
2 
– 
6 
Exceptional items before tax
17 
2 
21 
Minority shareholders' share of the above items
(2)
– 
– 
Tax effects of the above items
(5)
– 
(1)
Headline earnings
273 
417 
942 
Per ordinary share (cents):
Headline earnings
-35 
247 
378 
853 
Diluted headline earnings (3)  
245 
372 
842 
Attributable earnings  
236 
376 
829 
Diluted attributable earnings (3)  
234 
370 
819 
Dividends declared
+13 
72 
64 
205 
Dividends paid  
141 
121 
185 
Ordinary shares (millions) (4)
 
 
– in issue
110 
110 
110 
– weighted average number of shares
110 
110 
110 
– diluted weighted average number of shares (3)
112 
112 
112 
Notes
 
(1)
The interim financial results have been prepared in compliance with International Financial Reporting Standards. Accounting policies are consistent with those applied in the previous financial year.
(2)
Includes foreign sales of R1 282 million (2006 - R990 million).
(3)
Calculated in accordance with IAS33. In 2005, the Company purchased call options over AECI ordinary shares which will obviate the need for the Company to issue new shares in terms of the AECI share option scheme. Therefore, there will be no future dilution of earnings from this source.
(4)
Net of 10 311 120 (2006 - 10 311 120) treasury shares held by a subsidiary company.
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