UNAUDITED INTERIM RESULTS for the six months ended 31 December 2009

NOTES

ACCOUNTING POLICIES AND BASIS OF PREPARATION
The interim financial statements were prepared in accordance with International Financial Reporting Standards (IFRS) and comply with IAS 34 (Interim Financial Reporting) and the Companies Act of South Africa, as amended. The interim report has not been audited and therefore no review opinion has been obtained. The accounting policies and methods of computation are consistent with those applied in the financial results for the year ended 30 June 2009 except for the following standards which are effective for the financial years beginning 1 July 2009:
  • IAS 1 (revised): Presentation of Financial Statements; and
  • IFRS 8: Operating Segments.
Neither statement has an impact on the reported results with the former dealing with certain presentation changes and the latter the provision of additional information.

PRIOR PERIOD RESTATEMENT
The prior period share of profit from RAH was restated as net profit after tax was erroneously used instead of net profit attributable to ordinary shareholders. This error was identified and corrected at 30 June 2009.
     
    Restated
    Unaudited
    31 Dec
    2008
    R’000
Effects on non-current assets    
Balance previously stated   1 855 858
Decrease in investments in associates   (1 182)
Restated balance   1 854 676
Effect on equity    
Balance previously stated   1 633 883
Decrease in net profit after tax   (1 182)
Restated balance   1 632 701
  Restated  
  basic and Restated
  diluted headline
  earnings earnings
  per share per share
  Unaudited Unaudited
  31 Dec 31 Dec
  2008 2008
Effect on earnings per share    
Earnings previously stated (cents) 27,32 10,54
Earnings per share adjustment (cents) (0,25) (0,26)
Restated earnings per share (cents) 27,07 10,28