|
Group statement of financial position |
|
|
|
|
R million |
31 May 2010 |
31 May 2009 |
30 Nov 2009* |
|
|
|
|
|
ASSETS |
|
|
|
| Non-current assets |
2 428 |
2 430 |
2 418 |
|
Property, plant and equipment |
| 89 |
93 |
91 |
| 2 181 |
2 181 |
2 181 |
| 117 |
131 |
117 |
| 16 |
25 |
18 |
| 25 |
|
11 |
|
| Investment in preference
shares |
| Goodwill |
| Intangible assets |
| Deferred taxation |
|
Current assets |
1 286 |
1 207 |
1 288 |
|
Inventories |
| 601 |
758 |
597 |
| 321 |
340 |
356 |
| 1 |
5 |
|
| 363 |
104 |
335 |
|
| Trade and other receivables |
| Taxation |
| Cash and
cash equivalents |
|
|
|
|
|
TOTAL ASSETS |
3 714 |
3 637 |
3 706 |
|
|
|
|
|
EQUITY AND LIABILITIES |
|
|
|
| Equity |
1 223 |
1 078 |
1 184 |
|
Interest of the shareholders of the group |
|
1 194 |
1 042 |
1 150 |
| 29 |
36 |
34 |
|
| Non-controlling
interest |
| Non-current liabilities |
2 181 |
2 186 |
2 186 |
|
Subordinated debenture |
|
| Deferred taxation |
| Due to vendors
interest bearing |
|
Current liabilities |
310 |
373 |
336 |
|
Trade and other payables |
|
| Due to bankers |
| Due to vendors
interest bearing |
| Taxation |
|
|
|
|
|
TOTAL EQUITY AND LIABILITIES |
3 714 |
3 637 |
3 706 |
|
|
|
|
|
* Audited |
|
|
|
|
Group statement of comprehensive income |
|
|
|
|
|
R million
|
Six months
ended
31 May
2010 |
%
change
|
Six months
ended
31 May
2009 |
Year
ended
30 Nov
2009* |
|
|
|
|
|
|
Turnover |
1 116 |
(5) |
1 176 |
2 420 |
|
Cost of sales |
669 |
|
726 |
1 469 |
|
|
|
|
|
|
Gross profit |
447 |
|
450 |
951 |
|
Operating expenses |
327 |
|
318 |
644 |
|
|
|
|
|
|
Operating profit |
120 |
(9) |
132 |
307 |
|
Capital items |
|
|
1 |
(7) |
|
|
|
|
|
|
Profit before dividends received,
interest received and finance costs |
120
|
(10)
|
133
|
300
|
|
Dividends received on preference shares |
99 |
|
100 |
202 |
|
Interest received |
9 |
|
1 |
5 |
|
Finance costs |
(115) |
|
(120) |
(235) |
|
|
|
|
|
|
Profit before taxation |
113 |
|
114 |
272 |
|
Taxation |
7 |
|
6 |
24 |
|
|
|
|
|
|
PROFIT FOR THE PERIOD |
106 |
|
108 |
248 |
|
Other comprehensive income |
4 |
|
3 |
2 |
|
Increase in equity compensation reserve |
|
|
Movement on fair value of
cash flow hedges |
|
|
|
|
|
|
TOTAL COMPREHENSIVE
INCOME FOR THE PERIOD |
110 |
(1) |
111 |
250 |
|
|
|
|
|
|
Profit attributable to: |
|
|
|
|
|
Shareholders of the group |
107 |
|
107 |
243 |
|
Non-controlling shareholders |
(1) |
|
1 |
5 |
|
|
|
|
|
|
|
106 |
|
108 |
248 |
|
|
|
|
|
|
Total comprehensive income
attributable to: |
|
|
|
|
|
Shareholders of the group |
111 |
|
110 |
245 |
|
Non-controlling shareholders |
(1) |
|
1 |
5 |
|
|
|
|
|
|
110 |
|
111 |
250 |
|
|
|
|
|
|
Headline earnings per share (cents) |
341 |
|
346 |
801 |
|
Basic earnings per share (cents) |
341 |
|
346 |
784 |
|
Diluted headline earnings per share (cents) |
336 |
|
338 |
785 |
|
Diluted basic earnings per share (cents) |
336 |
|
338 |
769 |
|
Reconciliation to headline earnings |
|
|
|
|
|
Profit attributable to shareholders of the group |
107 |
|
107 |
243 |
|
Adjusted for: |
|
|
|
|
|
Impairment of goodwill and
intangible assets |
|
|
|
9 |
|
Surplus on disposal of assets |
|
|
|
(1) |
|
Tax effect |
|
|
|
(1) |
|
Non-controlling interest |
|
|
|
(1) |
|
|
|
|
|
|
Headline earnings |
107 |
|
107 |
249 |
|
|
|
|
|
|
Dividends |
|
|
|
|
|
per share (cents) |
115 |
|
115 |
350 |
|
amount (Rm) |
36 |
|
36 |
109 |
|
Shares in issue |
31 532 |
|
30 966 |
31 240 |
|
total (000) |
|
34 040 |
|
33 474 |
33 748 |
|
(2 508) |
|
(2 508) |
(2 508) |
|
|
held by subsidiary company (000) |
|
Weighted average shares
in issue |
|
|
|
|
|
basic (000) |
31 395 |
|
30 928 |
31 023 |
|
diluted (000) |
31 909 |
|
31 734 |
31 644 |
|
|
|
|
|
|
* Audited |
|
|
|
|
|
Group statement of cash flows |
|
|
|
|
R million
|
Six months
ended
31 May
2010 |
Six months
ended
31 May
2009 |
Year
ended
30 Nov
2009* |
|
|
|
|
|
Cash generated from trading |
134 |
143 |
333 |
|
Decrease in working capital |
2 |
19 |
166 |
|
|
|
|
|
Cash generated from operations |
136 |
162 |
499 |
|
Finance costs |
(115) |
(119) |
(235) |
|
Taxation paid |
(24) |
(44) |
(63) |
|
|
|
|
|
Net cash from operating activities |
(3) |
(1) |
201 |
|
|
|
|
|
Net investment in new operations |
|
(4) |
(7) |
|
Net investment in property,
plant and equipment |
(6) |
(8) |
(17) |
|
Discontinuation of businesses |
|
|
7 |
|
Dividends and interest received |
108 |
100 |
203 |
|
|
|
|
|
Net cash from investing activities |
102 |
88 |
186 |
|
|
|
|
|
Proceeds from issue of shares |
8 |
1 |
8 |
|
Dividends paid |
(79) |
(97) |
(129) |
|
|
|
|
|
Net cash from financing activities |
(71) |
(96) |
(121) |
|
|
|
|
|
Net increase (decrease) in cash
and cash equivalents |
28 |
(9) |
266 |
|
|
|
|
|
* Audited |
|
|
|