Highlights

	Revenue from continuing operations up 3% to R5 425 million
	Profit from continuing operations up 48% to R484 million
	HEPS up 127% to 238c
	Cash dividend of 70c declared
	All strategic growth projects in ramp-up phase

Commentary

Performance

The Group’s performance strengthened further in the first six months of 2010 with recovery in the mining and manufacturing sectors from the 2009 economic crisis contributing significantly to the Group’s improved results. Revenue from continuing operations increased by 3% to R5 425 million (2009: R5 263 million), with further growth being curtailed by the strong rand. Overall volumes grew by about 15% for continuing operations compared to the first half of 2009. Headline earnings of R255 million (2009: R112 million) increased by 128% and profit from continuing operations improved by 48% to R484 million (2009: R328 million). Headline earnings per share increased to 238 cents (2009: 105 cents).

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