| |
-
Normalised headline earnings per share down 19% to R8,01
-
Dividends reduced 12,5% to R3,50 per share
-
Cash increased to R335 million
|
| Income statement |
| R million |
30
Nov 2009 |
% change |
30 Nov
2008 |
|
|
|
|
| Turnover |
2 420 |
-12 |
2 766 |
| Cost of sales |
1 469 |
|
1
684 |
|
|
|
|
| Gross profit |
951 |
|
1 082 |
| Operating expenses |
644 |
|
655 |
|
|
|
|
| Operating profit |
307 |
-28 |
427 |
| Capital items |
(7) |
|
(2) |
|
|
|
|
| Profit before dividends received,
interest received and finance costs |
300 |
|
425 |
|
Dividends received on preference shares |
202 |
|
200 |
|
Interest received |
5 |
|
12 |
|
Finance costs |
(235) |
|
(252) |
|
|
|
|
| Profit before taxation |
272 |
|
385 |
|
Taxation |
24 |
|
55 |
|
|
|
|
| Profit after taxation |
248 |
-25 |
330 |
|
|
|
|
| Attributable to shareholders of the group |
243 |
|
307 |
|
Attributable to minorities |
5 |
|
23 |
|
|
|
|
| |
248 |
|
330 |
|
|
|
|
|
Normalised headline earnings per share (cents) |
801 |
-19 |
995 |
|
Headline earnings per share (cents) |
801 |
|
964 |
|
Basic earnings per share (cents) |
784 |
|
995 |
|
Diluted normalised headline earnings per share (cents) |
785 |
|
970 |
|
Diluted headline earnings per share (cents) |
785 |
|
940 |
|
Diluted basic earnings per share (cents) |
769 |
|
970 |
|
|
|
|
| Reconciliation
to normalised headline earnings |
|
|
|
| Profit
attributable to shareholders of the group adjusted to eliminate the effect
of the following items in attributable earnings: |
243 |
|
307 |
| -Surplus on disposal of property, plant and equipment |
|
|
(1) |
| - Foreign
currency translation reserve realised |
|
|
(9) |
| - Impairment of goodwill and
intangible assets |
9 |
|
|
| -
Surplus on sale of business |
(1) |
|
|
| -Tax
effect |
(1) |
|
|
| -
Minority interest |
(1) |
|
|
|
|
|
|
| Headline
earnings |
249 |
|
297 |
|
Adjusted to eliminate the effect of the following items in headline
earnings: |
|
|
|
| - Impairment of assets in operation discontinued in 2008 |
|
|
10 |
|
|
|
|
| Normalised
headline earnings |
249 |
-19 |
307 |
|
|
|
|
| Dividends |
|
|
|
| -
Per share (cents) |
350 |
-13 |
400 |
| - Amount (Rm) |
109 |
|
124 |
| |
|
|
|
| Shares in issue |
31 240 |
|
30
923 |
| - Total (000) |
| 33 748 |
|
33
431 |
| (2
508) |
|
(2
508) |
|
| - Held by subsidiary company (000) |
| Weighted average shares in
issue |
|
|
|
| -
Basic (000) |
31 023 |
|
30
836 |
| - Diluted (000) |
31 644 |
|
31
632 |
|
|
|
|
|
Cash flow statement |
|
R million
|
30 Nov
2009 |
30 Nov
2008 |
|
|
|
|
Cash generated from trading |
333 |
450 |
|
Decrease (increase) in working capital |
166 |
(235) |
|
|
|
|
Cash generated from operations |
499 |
215 |
|
Finance costs |
(235) |
(249) |
|
Taxation paid |
(63) |
(56) |
|
|
|
|
Net cash from operating activities |
201 |
(90) |
|
|
|
|
Investment in new operations – net |
(7) |
(140) |
|
Investment in property, plant and equipment – net |
(17) |
(20) |
|
Discontinuation of businesses |
7 |
|
|
Dividends and interest received |
203 |
212 |
|
|
|
|
Net cash from investing activities |
186 |
52 |
|
|
|
|
Proceeds from issue of share capital |
8 |
4 |
|
Dividends paid |
(129) |
(214) |
|
|
|
|
Net cash from financing activities |
(121) |
(210) |
|
|
|
|
Net increase (decrease) in cash and cash
equivalents |
266 |
(248) |
|
|
|