Summarised consolidated income statement for the year ended 30 June
Download Excel| R000s | 2022 Audited |
2022 Audited |
% Change |
| Continuing operations | |||
| Revenue | 99 929 074 | 88 314 806 | 13.2 |
| Non-interest revenue | 99 480 106 | 87 881 064 | |
| Interest revenue | 448 968 | 433 742 | |
| Cost of revenue | (69 966 260) | (61 140 027) | 14.4 |
| Gross profit | 29 962 814 | 27 174 779 | 10.3 |
| Operating expenses | (20 268 608) | (19 278 934) | 5.1 |
| Net impairment losses on financial assets | (182 912) | (252 164) | (27.5) |
| Other income | 218 744 | 247 244 | (11.5) |
| Trading profit | 9 730 038 | 7 890 925 | 23.3 |
| Share-based payment expense | (294 156) | (246 096) | |
| Acquisition costs and customer contracts amortisation | (341 567) | (305 025) | |
| Net capital items | 176 628 | (179 663) | |
| Profit before finance charges and associate income | 9 270 943 | 7 160 141 | 29.5 |
| Net finance charges | (1 592 489) | (1 470 534) | 8.3 |
| Finance income | 132 184 | 57 367 | |
| Finance charges | (1 724 673) | (1 527 901) | |
| Share of profit of associates and joint ventures | 101 101 | 100 095 | 1.0 |
| Current year earnings | 101 317 | 100 208 | |
| Net capital items | (216) | (113) | |
| Profit before taxation | 7 779 555 | 5 789 702 | 34.4 |
| Taxation | (2 332 248) | (1 670 774) | 39.6 |
| Profit for the year from continuing operations | 5 447 307 | 4 118 928 | 32.3 |
| Discontinued operations | |||
| Profit after tax from discontinued operations | – | 3 789 | |
| Profit for the year | 5 447 307 | 4 122 717 | |
| Attributable to | |||
| Shareholders of the Company – continuing operations | 5 071 735 | 3 840 933 | 32.0 |
| Shareholders of the Company – discontinued operations | – | 3 789 | (100.0) |
| Non-controlling interest | 375 572 | 277 995 | 35.1 |
| 5 447 307 | 4 122 717 | 32.1 | |
| Basic earnings per share (cents) – continuing operations | 1 492.2 | 1 130.2 | 32.0 |
| Diluted basic earnings per share (cents) – continuing operations | 1 490.0 | 1 129.4 | 31.9 |
| Basic earnings per share (cents) – discontinued operations | – | 1.1 | |
| Diluted basic earnings per share (cents) – discontinued operations | – | 1.1 | |
| Basic earnings per share (cents) – Group | 1 492.2 | 1 131.3 | 31.9 |
| Diluted basic earnings per share (cents) – Group | 1 490.0 | 1 130.5 | 31.8 |
| Supplementary Information | |||
| Normalised headline earnings per share (cents) – continuing operations* | 1 601.5 | 1 292.0 | 24.0 |
| Headline earnings per share (cents) – continuing operations | 1 442.0 | 1 183.3 | 21.9 |
| Diluted headline earnings per share (cents) – continuing operations | 1 439.9 | 1 182.4 | 21.8 |
| Headline earnings per share (cents) – discontinued operations | – | 15.2 | |
| Diluted headline earnings per share (cents) – discontinued operations | – | 15.2 | |
| Normalised headline earnings per share (cents) – Group* | 1 601.5 | 1 307.2 | 22.5 |
| Headline earnings per share (cents) – Group | 1 442.0 | 1 198.4 | 20.3 |
| Diluted headline earnings per share (cents) – Group | 1 439.9 | 1 197.5 | 20.2 |
| Shares in issue | |||
| Total ('000) | 339 888 | 339 888 | |
| Weighted ('000) | 339 888 | 339 847 | |
| Diluted weighted ('000) | 340 376 | 340 096 |
| * | Refer normalised headline earnings note for detailed definition. |
| R000s | 2022 Audited |
2021 Audited |
% Change |
| Supplementary Information continued | |||
| Headline earnings | |||
| The following adjustments to profit attributable to shareholders were taken into account in | |||
| the calculation of headline earnings: | |||
| Profit attributable to shareholders of the Company – continuing operations | 5 071 735 | 3 840 933 | 32.0 |
| Impairment of property, plant and equipment, right-of-use assets, goodwill and intangible assets | 17 351 | 71 872 | |
| Property, plant and equipment# | 5 121 | 48 976 | |
| Right-of-use assets reversal# | (9 230) | (12 950) | |
| Intangible assets# | 21 454 | 44 395 | |
| Taxation effect | 6 | (8 549) | |
| Net (profit)/loss on disposal of interests in subsidiaries and disposal and closure of businesses | (155 532) | 62 821 | |
| (Profit)/loss on disposal and closure# | (155 532) | 64 722 | |
| Taxation effect | – | (1 901) | |
| Net loss on disposal and impairment of associates and joint ventures | (16 604) | 77 448 | |
| Impairment of associates and joint ventures# | – | 77 448 | |
| Net profit on change in shareholding in associates and joint ventures# | (17 218) | – | |
| Non-controlling interest | 614 | – | |
| Net profit on disposal of property, plant and equipment and intangible assets | (15 892) | (2 270) | |
| Property, plant and equipment# | (36 516) | (8 503) | |
| Intangible assets# | 15 293 | 6 259 | |
| Taxation effect | 5 290 | 375 | |
| Non-controlling interest | 41 | (401) | |
| Compensation received on loss or impairment of property plant and equipment | – | (29 667) | |
| Compensation received# | – | (40 684) | |
| Taxation effect | – | 11 017 | |
| Non-headline items included in equity accounted earnings of associated and joint venture companies | 125 | 113 | |
| Non-headline items | 216 | 113 | |
| Non-controlling interest | (91) | – | |
| Headline earnings – continuing operations | 4 901 183 | 4 021 250 | 21.9 |
| Profit attributable to shareholders of the Company – discontinued operations | – | 3 789 | |
| Loss on disposal of discontinued operations | – | 85 224 | |
| Impairment reversal of property, plant and equipment, right-of-use assets, goodwill and intangible assets | – | (37 478) | |
| Property, plant and equipment | – | (28 782) | |
| Intangible assets | – | (23 271) | |
| Taxation effect | – | 14 575 | |
| Headline earnings – Group | 4 901 183 | 4 072 785 | 20.3 |
| # | Items above included as capital items on summarised consolidated income statement. |
Normalised headline earnings per share
Normalised headline earnings per share is a measurement used by the chief operating decision-maker, Mpumi Madisa and the executive board. The calculation of normalised headline earnings per share excludes acquisition costs, amortisation of acquired customer contracts, the impact of changes in deferred tax rates (included for the first time in the current year), and COVID-19 pandemic expenses relating to abnormal receivables provisioning, inventory obsolescence, restructuring costs and COVID-19 compliance regulatory costs and is based on the normalised headline earnings attributable to ordinary shareholders, divided by the weighted average number of ordinary shares in issue during the year. The presentation of normalised headline earnings is not an IFRS requirement.
| R000s | 2022 Audited |
2021 Audited |
% Change |
| Headline earnings – continuing operations | 4 901 183 | 4 021 250 | |
|---|---|---|---|
| Acquisition costs | 58 517 | 33 509 | |
| Amortisation of acquired customer contracts | 283 050 | 271 516 | |
| COVID-19 pandemic expenses | – | 182 466 | |
| Taxation effect | (52 266) | (101 433) | |
| Change in deferred tax rates | 255 637 | – | |
| Non-controlling interest | (2 724) | (16 474) | |
| Normalised headline earnings – continuing operations | 5 443 397 | 4 390 834 | 24.0 |
| Normalised headline earnings – discontinued operations | – | 51 535 | |
| Normalised headline earnings – Group | 5 443 397 | 4 442 369 | 22.5 |