| |
| Consolidated income statements |
| for the year ended June 30 |
| |
| R’000 |
|
2007 |
|
|
|
2006 |
|
Percentage
change |
| Revenue |
|
95 655 509 |
|
|
|
77 276 493 |
|
23,8% |
| Cost of revenue |
|
(77 330 818) |
|
|
|
(61 807 227) |
|
|
| Gross income |
|
18 324 691 |
|
|
|
15 469 266 |
|
18,5% |
| Other income |
|
419 408 |
|
|
|
140 331 |
|
|
| Operating expenses |
|
(14 247 529) |
|
|
|
(11 918 090) |
|
|
| Sales and distribution expenses |
|
(9 432 053) |
|
|
|
(7 376 156) |
|
|
| Administration expenses |
|
(3 940 085) |
|
|
|
(3 599 717) |
|
|
| Other |
|
(875 391) |
|
|
|
(942 217) |
|
|
| Other expenses |
|
(825 177) |
|
|
|
(976 724) |
|
|
| Negative goodwill arising on acquisition of subsidiary |
|
— |
|
|
|
3 780 |
|
|
| Impairment of goodwill and other intangibles |
|
(65 707) |
|
|
|
(14 174) |
|
|
| Net capital profits |
|
15 493 |
|
|
|
44 901 |
|
|
| |
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
| Operating profit |
|
4 496 570 |
|
|
|
3 691 507 |
|
21,8% |
| Net finance charges |
|
(566 181) |
|
|
|
(342 392) |
|
|
| Finance income |
|
79 521 |
|
|
|
66 295 |
|
|
| Finance charges |
|
(645 702) |
|
|
|
(408 687) |
|
|
| Share of income of associates |
|
68 354 |
|
|
|
48 846 |
|
|
| Dividends received |
|
9 083 |
|
|
|
4 991 |
|
|
| Share of retained earnings |
|
59 271 |
|
|
|
43 855 |
|
|
| Impairment of investment in associate |
|
(178 339) |
|
|
|
— |
|
|
| Profit before taxation |
|
3 820 404 |
|
|
|
3 397 961 |
|
12,4% |
| Taxation |
|
(1 033 248) |
|
|
|
(933 418) |
|
|
| Profit for the year |
|
2 787 156 |
|
|
|
2 464 543 |
|
13,1% |
| Attributable to: |
|
|
|
|
|
|
|
|
| Shareholders of the Company |
|
2 700 054 |
|
|
|
2 388 717 |
|
13,0% |
| Minority shareholders |
|
87 102 |
|
|
|
75 826 |
|
|
| |
|
2 787 156 |
|
|
|
2 464 543 |
|
13,1% |
| Shares in issue |
|
|
|
|
|
|
|
|
| Weighted (’000) |
|
300 206 |
|
|
|
299 976 |
|
|
| Diluted weighted (’000) |
|
307 421 |
|
|
|
313 826 |
|
|
| Basic earnings per share (cents) |
|
899,4 |
|
|
|
796,3 |
|
12,9% |
| Headline earnings per share (cents) |
|
970,0 |
|
|
|
804,6 |
|
20,6% |
| Diluted earnings per share (cents) |
|
878,3 |
|
|
|
761,2 |
|
15,4% |
| Diluted headline earnings per share (cents) |
|
947,2 |
|
|
|
769,1 |
|
23,2% |
| Distributions per share (cents)* |
|
446,4 |
|
|
|
369,0 |
|
21,0% |
| Interim |
|
198,0 |
|
|
|
162,0 |
|
|
| Final |
|
248,4 |
|
|
|
207,0 |
|
|
| *Includes distribution from share premium |
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
| HEADLINE EARNINGS |
|
|
|
|
|
|
|
|
| The following adjustments to profit attributable to shareholders of the Company were taken into account in the calculation o fheadline earnings: |
|
|
|
|
|
|
|
|
| Profit attributable to shareholders of the Company |
|
2 700 054 |
|
|
|
2 388 717 |
|
13,0% |
| Impairment of goodwill and other intangibles assets |
|
65 707 |
|
|
|
14 174 |
|
|
| Net loss on disposal of investments in subsidiaries, associates and disposal and closure of businesses |
|
595 |
|
|
|
19 951 |
|
|
| Surplus on disposal of investment in subsidiaries, associates |
|
|
|
|
|
|
|
|
| and disposal and closure of businesses |
|
(84) |
|
|
|
(29 212) |
|
|
| Tax charge |
|
679 |
|
|
|
49 638 |
|
|
| Minority interest |
|
— |
|
|
|
(475) |
|
|
| Net profit on disposal of property, plant and equipment |
|
(12 835) |
|
|
|
(11 915) |
|
|
| Profit on disposal of property, plant and equipment |
|
(15 409) |
|
|
|
(15 689) |
|
|
| Tax charge |
|
1 984 |
|
|
|
3 774 |
|
|
| Minority interest |
|
590 |
|
|
|
— |
|
|
| Negative goodwill recognised in profit |
|
— |
|
|
|
(2 457) |
|
|
| Negative goodwill recognised in profit |
|
— |
|
|
|
(3 780) |
|
|
| Minority interest |
|
— |
|
|
|
1 323 |
|
|
| Impairment of investment in associate |
|
178 339 |
|
|
|
— |
|
|
| Share of capital items in associates |
|
(19 874) |
|
|
|
5 059 |
|
|
| Headline earnings |
|
2 911 986 |
|
|
|
2 413 529 |
|
20,7% |
| Rand/Sterling exchange rates |
|
|
|
|
|
|
|
|
| Opening rate |
|
13,205 |
|
|
|
11,532 |
|
|
| Closing rate |
|
14,180 |
|
|
|
13,205 |
|
|
| Average rate |
|
13,946 |
|
|
|
11,435 |
|
|
| |
|
|
|
|
|
|
|
|
|
| |
|
|
