Summarised Group Income Statement
for the year ended 31 May 2008
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2007 |
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2008 |
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2008 |
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Predecessor |
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Pro forma |
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Actual |
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value |
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unaudited |
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audited |
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audited |
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R’000 |
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R’000 |
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R’000 |
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Revenue |
|
12 930 609 |
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12 545 471 |
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8 895 044 |
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Other income |
|
68 142 |
|
69 545 |
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34 585 |
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Changes in inventories of finished goods |
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(12 211 507) |
|
(11 875 606) |
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(8 469 965) |
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Employee compensation and benefit expense |
|
(275 629) |
|
(265 003) |
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(142 320) |
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Depreciation, amortisation and impairment |
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|
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|
|
(73 675) |
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(58 670) |
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(26 682) |
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Other expenses |
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(164 686) |
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(146 240) |
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(88 208) |
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Operating profit |
|
273 254 |
|
269 497 |
|
202 454 |
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|
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Net finance income/(cost) |
|
132 866 |
|
45 577 |
|
(38 251) |
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Share of losses from associates |
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(19 661) |
|
(17 441) |
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(956) |
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Net profit before taxation |
|
386 459 |
|
297 633 |
|
163 247 |
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Taxation |
|
(116 529) |
|
(89 841) |
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(53 420) |
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Net profit for the year |
|
269 930 |
|
207 792 |
|
109 827 |
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Attributable to: |
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|
|
|
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Equity holders of parent |
|
269 423 |
|
180 891 |
|
63 867 |
|
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Minority interest |
|
507 |
|
26 901 |
|
45 960 |
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Earnings per share for profit |
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attributable to equity |
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holders (cents) |
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– Basic |
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35.16 |
|
30.65 |
|
16.89 |
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– Headline |
|
34.86 |
|
30.26 |
|
15.29 |
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Weighted average number of ordinary shares |
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|
|
|
|
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in issue |
|
766 360 894 |
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590 263 513 |
|
378 097 993 |
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Unaudited reconciliation between net profit and |
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core net profit for the year: |
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Net profit for the year |
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269 423 |
|
180 891 |
|
63 867 |
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Management bonus settlement net of tax |
|
57 600 |
|
57 600 |
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– |
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Amortisation on intangibles raised through business |
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combinations net of tax and minority interest |
|
|
34 919 |
|
22 937 |
|
3 916 |
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Cancellation of onerous contract |
|
9 000 |
|
9 000 |
|
– |
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|
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Core net profit for the year |
|
370 942 |
|
270 428 |
|
67 783 |
|
|
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Core net profit for the year attributable to: |
|
373 093 |
|
301 409 |
|
120 333 |
|
|
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Equity holders of parent |
|
370 942 |
|
270 428 |
|
67 783 |
|
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Minority interest |
|
2 151 |
|
30 981 |
|
52 550 |
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– Core earnings per share (cents)* |
|
48.40 |
|
45.81 |
|
17.93 |
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| * Core earnings per share is calculated after adding back the amortisation of intangible assets as a consequence of
the purchase price allocations exercised in terms of IFRS 3: Business Combinations, the costs incurred in terms of the
Management Bonus Settlement Agreement and the termination of the Otter Mist Trading CC consulting agreement, as
explained in the pre-listing statement. |
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