for the year ended 30 June 2007
R millions |
Audited
Annual
30.6.07 |
Restated
Audited
Annual
30.6.06 |
| Revenue |
17 873 |
11 098 |
| Earnings before interest, exceptional items, depreciation and amortisation |
1 750 |
923 |
| Depreciation |
(290) |
(188) |
| Amortisation of intangible assets |
(23) |
(16) |
| Earnings before interest and exceptional items |
1 437 |
719 |
| Exceptional items |
(147) |
(78) |
| Headlease and other property activities1 (note 3) |
14 |
4 |
| Broad-based black economic empowerment |
|
|
| (BBBEE) expense |
– |
(80) |
| Impairment of Clough investment |
(115) |
– |
| Impairment of Borbet loan |
(48) |
– |
| Other |
2 |
(2) |
| Earnings before interest and taxation2 |
1 290 |
641 |
| Net interest income |
21 |
36 |
| Earnings before taxation |
1 311 |
677 |
| Taxation |
(360) |
(176) |
| Earnings after taxation |
951 |
501 |
| Share of (loss)/profit of associates |
(107) |
1 |
| Earnings from continuing operations |
844 |
502 |
| (Loss)/earnings from discontinued operations (note 2) |
(48) |
59 |
| Earnings for the period |
796 |
561 |
| Attributable to: |
|
|
| Shareholders of the holding company |
702 |
512 |
| Minority shareholders |
94 |
49 |
| |
796 |
561 |
| Earnings per share (cents) |
|
|
| – Diluted |
235 |
165 |
| – Basic |
239 |
168 |
| Earnings per share from continuing operations (cents) |
|
|
| – Diluted |
251 |
146 |
| – Basic |
255 |
150 |
| Total dividend per ordinary share (cents)* |
116 |
60 |
| Operating cash flow per share (cents) |
583 |
180 |
| 1 |
The headlease and other property activities include the following: |
|
|
|
| Rental income |
164 |
144 |
| Interest expense |
(39) |
(49) |
| 2 |
Includes interest expense of R39 million (2006: R49 million) in respect of the headlease and other property activities |
|
|
|
| * Based on year to which dividend relates |
|
|
| 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 |
| Less: weighted average number of shares held by The Murray & Roberts Trust |
(8 335) |
(12 139) |
| Less: weighted average number of shares held by Murray & Roberts Limited |
(676) |
– |
| Less: weighted average number of shares held by the Letsema BBBEE trusts |
(28 953) |
(14 917) |
| Weighted average number of shares used for basic per share figures |
293 929 |
304 837 |
| Add: dilutive adjustment for share options |
4 326 |
5 081 |
| Weighted average number of shares used for diluted per share figures |
298 255 |
309 918 |
| Reconciliation of headline earnings |
|
|
| Earnings attributable to shareholders of the holding company |
702 |
512 |
| Non-headline exceptional items |
180 |
2 |
| Loss/(profit) on disposal of discontinued operations |
61 |
(16) |
| Taxation on above adjustments |
25 |
4 |
| Headline earnings |
968 |
502 |
|
|
|
| Headline earnings per share (cents) |
|
|
| – Diluted |
325 |
162 |
| – Basic |
329 |
165 |
| Reconciliation of headline earnings excl BBBEE expense |
|
|
| Headline earnings as above |
968 |
502 |
| BBBEE expense |
– |
87 |
| Taxation effect on BBBEE expense |
– |
(20) |
| Headline earnings excluding BBBEE expense |
968 |
569 |
|
|
|
| Headline earnings per share excluding |
|
|
| BBBEE expense (cents) |
|
|
| – Diluted |
325 |
184 |
| – Basic |
329 |
187 |
|
|
|
| |
|
|
Financials