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Three-year Financial Review


Consolidated Income Statements
 Note 20082007 2006
  R R R
Revenue 134 032 163 90 409 714 55 901 315
Operating costs 2 (16 136 711)(9 194 173)(3 960 830)
Profit from operations 17 895 45281 215 54151 940 485
Impairment of investment in associate 3(92 131 891)(750 380)–
Finance costs (8 934 260)(35 980)(2 360)
Negative goodwill from associate 4784 087 333––
Share of profit from associates 1 47 051 571 366 958–
Profit before taxation   747 968 205 80 796 13951 938 125
Taxation   (9 385 063) (7 718 013)(6 241 518)
Profit for the year   738 583 142 73 078 12645 696 607
Attributable to ordinary shareholders   738 583 142 73 078 12645 696 607
Headline earnings 5 84 763 045 66 217 16234 299 303

For 2008:

  1. Revenue from associates is now disclosed as share of profit from associates.
  2. Operating expenses includes the R5 million once-off listing expenses.
  3. Impairment write-down of R92 million in respect of the RAH investment has been incurred.
  4. Negative goodwill arose as a result of purchasing additional shares in SunWest and SunWest becoming an associate.
  5. Headline earnings is the profit attributable to ordinary shareholders after reversing the adjustments detailed in note 7 of the annual financial statements.
     

Consolidated Balance Sheets
   20082007 2006
  R R R
Non-current assets  1 696 386 628 227 964 581 188 775 151
Current assets   95 625 71581 193 51198 176 416
Total assets  1 792 012 343309 158 092286 951 567
Shareholders’ interest  1 572 534 408239 897 827165 374 470
Preference share capital  201 398 10857 797 500115 297 500
Deferred tax liability  2 841 7722 922 6032 323 973
Current liabilities   15 238 055 8 540 1623 955 624
Total equity and liabilities   1 792 012 343 309 158 092286 951 567
     

Share Statistics

    2008 2007 2006
    R R R
Shares in issue at year-end   469 028 354 332 038 052 320 001 140
Weighted average number of shares in issue   365 766 533 323 010 368 273 779 140
Basic and diluted earnings per share (cents)   200,98 20,34 12,53
Headline earnings per share (cents)   23,17 20,50 12,53
Proposed dividends per share (cents)* 10,07,54,5
Net asset value per share (cents)  3359088

* Dividends declared in respect of the year-end.