Condensed consolidated income statement

Audited

for the six months ended 31 December 2006

Annual

R millions

31.12.06

31.12.05

30.6.06

Revenue

8 581

5 528

11 920

Earnings before interest, exceptional items, depreciation and amortisation

739

416

1 044

Depreciation

(168)

(111)

(228)

Amortisation of intangible assets

(11)

(4)

(16)

Earnings before interest and exceptional items

560

301

800

Exceptional items

(35)

(96)

(85)

Headlease and other property activities ¹

8

–

4

Broad-based black economic empowerment (BBBEE) expense

–

(95)

(87)

Loss on disposal of investment

(48)

–

–

Income on liquidation of Consani

15

–

–

Other

(10)

(1)

(2)

Earnings before interest and taxation ²

525

205

715

Net interest (expense) income

(11)

21

22

Earnings before taxation

514

226

737

Taxation

(145)

(58)

(189)

Earnings after taxation

369

168

548

Share of profit (loss) of associates

31

(13)

1

Earnings from continuing operations

400

155

549

Earnings from discontinued operations (note 2)

–

14

12

Earnings for the period

400

169

561

Attributable to: Shareholders of the holding company

360

148

512

Minority shareholders

40

21

49

400

169

561

Earnings per share (cents) – Diluted

121

46

165

– Basic

123

47

168

Earnings per share from continuing operations (cents) – Diluted

121

42

162

– Basic

123

42

164

Total dividend per ordinary share (cents)

45

20

60

Operating cash flow per share (cents)

146

–

180

¹  The headlease and other property activities include the following: Rental income

86

71

144

Interest expense

(21)

(26)

(49)

²  Includes interest expense of R21 million (2005: R26 million) in respect of the headlease and other property activities SUPPLEMENTARY INCOME STATEMENT INFORMATION Reconciliation of weighted average number of shares in issue (000) Weighted average number of ordinary shares in issue

331 893

331 893

331 893

Less: weighted average number of shares held by The Murray & Roberts Trust

(13 455)

(12 139)

Less: weighted average number of shares held by Murray & Roberts Limited

(9 889)

(676)

–

–

Less: weighted average number of shares held by the Letsema BBBEE trusts

(1 840)

(14 917)

Weighted average number of shares used for basic per share figures

292 375

316 598

304 837

Add: dilutive adjustment for share options

6 311

5 864

5 081

Weighted average number of shares used for diluted per share figures

298 686

322 462

309 918

Reconciliation of headline earnings

(28 953)

Earnings attributable to shareholders of the holding company

360

148

512

Non-headline exceptional items

43

1

2

profit on disposal of discontinued operations

–

(18)

(16)

Taxation on above adjustments

–

4

4

Headline earnings

403

135

502

Headline earnings per share (cents) – Diluted

135

42

162

– Basic

138

43

165

Reconciliation of headline earnings excl BBBEE expense Headline earnings as above

403

135

502

BBBEE expense

–

95

87

Taxation effect on BBBEE expense

–

(22)

(20)

Headline earnings excluding BBBEE expense

403

208

569

Headline earnings per share excluding BBBEE expense (cents) – Diluted

135

65

184

– Basic

138

66

187