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Income statement

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Income statement

		2009	2008	2008
		First half	First half	Year
	%	Unaudited	Unaudited	Audited
	change	R millions	R millions	R millions
Continuing operations
Revenue⁽²⁾	-9	5 263	5 793	12 876
Net operating costs		(4 935)	(5 241)	(11 841)
Profit from operations	-41	328	552	1 035
Net (loss)/income from Pension Fund employer
surplus account		*	6	(13)
Net loss from plan assets for post-retirement
medical aid liabilities		(20)	(3)	(57)
		308	555	965
Fair value adjustments – interest		*	3	(16)
Interest expense⁽³⁾		(168)	(104)	(233)
Interest received		30	19	28
Income from associates and investments		5	8	13
		175	481	757
Impairment of goodwill		–	(1)	(42)
Other impairments and disposals		–	(6)	(4)
Profit before tax		175	474	711
Income tax expense		(64)	(146)	(238)
Net profit from continuing operations		111	328	473
Net profit/(loss) from discontinued operations		4	10	(94)
Profit before tax		7	15	154
Closure costs		–	–	(204)
Impairments and disposals		–	5	(56)
Tax		(3)	(10)	12

Profit for the period		115	338	379
Profit for the period attributable to:
– ordinary shareholders		118	350	385
– preference shareholders		1	1	2
– minority interest		(4)	(13)	(8)
		115	338	379
Headline earnings are derived from:
Net profit attributable to ordinary shareholders		118	350	385
Impairment of goodwill		–	1	42
Other impairments and disposals before tax		–	1	60
Surplus on disposal of property, plant and
equipment		(9)	*	(38)
Tax effects of the above items		3	–	(6)
Headline earnings		112	352	443
Per ordinary share (cents):
Headline earnings	-68	105	325	412
Diluted headline earnings⁽⁴⁾		104	323	410
Attributable earnings		110	324	358
Diluted attributable earnings⁽⁴⁾		110	321	356
Continuing earnings		107	314	445
Diluted continuing earnings⁽⁴⁾		106	312	443
Discontinued earnings		4	9	(87)
Dividends declared	-69	28	90	231
Dividends paid		141	141	231
Ordinary shares (millions)⁽⁵⁾
– in issue		107	107	107
– weighted average number of shares		107	108	108
– diluted weighted average number of shares⁽⁴⁾		107	109	108
* nominal amount