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The Bidvest Group Limited
Annual report 2006
Commentary
Value added statement
Exchanges with government
Directors’ responsibility for
the financial statements
Declaration by company secretary
Report of the independent auditors
Directors’ report
Accounting policies
Consolidated income statement
Consolidated statement
of recognised income and
expenses
Consolidated cash flow statement
Consolidated balance sheet
Notes to the consolidated financial statements
Company income statement
Company cash flow statement
Company balance sheet
Notes to the Company
financial statements
Interest in subsidiaries, joint ventures and associates
 
Notes to the consolidated financial statements
for the year ended June 30
 
    2006    2005 
5. Earnings per share
Weighted average number of shares (‘000)
     
  Weighted average number of shares in issue for basic earnings per share
   and headline earnings per share
299 976    302 700 
  Potential dilutive impact of outstanding staff share options 7 213    5 187 
  Number of outstanding staff share options 18 886    24 292 
  Number of share options deemed to be issued at fair value (11 673)   (19 105)
  Potential dilutive impact of outstanding shareholder options 6 637    2 298 
  Number of outstanding shareholder options 18 000    18 000 
  Number of shareholder options deemed to be issued at fair value (11 363)   (15 702)
  Adjusted weighted average number of shares in issue used for the
   calculation of diluted earnings per share
313 826    310 185 
         
  Attributable earnings (R’000)
Basic earnings per share and diluted earnings per share are based on
   profit attributable to shareholders of the Company
2 388 717    1 961 231 
         
  Basic earnings per share (cents) 796,3    647,9 
  Diluted earnings per share (cents) 761,2    632,3 
  Dilution (%) 4,4    2,4 
  Profit attributable to shareholders of the Company 2 388 717    1 961 231 
  Impairment of goodwill and intangible assets 14 174    10 292 
  Net loss on closure and disposal of businesses 19 951    6 594 
  Loss (surplus) on closure and disposal of businesses (29 212)   6 053 
  Tax charge 49 638    1 822 
  Minority shareholders (475)   (1 281)
  Net loss (surplus) on disposal of property, plant and equipment (11 915)   7 762 
  Loss (surplus) on disposal of property, plant and equipment (15 689)   13 410 
  Tax charge (relief) 3 774    (5 627)
  Minority shareholders –    (21)
  Negative goodwill (2 457)   – 
  Arising on acquisition of subsidiaries (3 780)   – 
  Minority shareholders 1 323    – 
  Share of capital items in associates 5 059    1 108 
  Headline earnings 2 413 529    1 986 987 
         
  Headline earnings per share (cents) 804,6    656,4 
  Diluted headline earnings per share (cents) 769,1    640,6 
  Dilution (%) 4,4    2,4 
 
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