Summarised consolidated income statement
for the year ended 30 June 2018
View as excel [XLS - 60KB]
| R’000 | 2018 Audited |
2017 Audited |
% Change |
||||||||
| Revenue | 76 963 472 | 70 998 001 | 8.4 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost of revenue | (54 716 818) | (50 342 325) | 8.7 | ||||||||
| Gross profit | 22 246 654 | 20 655 676 | 7.7 | ||||||||
| Operating expenses | (16 199 932) | (15 131 637) | 7.1 | ||||||||
| Other income | 319 558 | 282 122 | |||||||||
| Trading result | 6 366 280 | 5 806 161 | 9.6 | ||||||||
| Income from investments | 142 795 | 210 776 | |||||||||
| Trading profit | 6 509 075 | 6 016 937 | 8.2 | ||||||||
| Share-based payment expense | (154 986) | (143 145) | |||||||||
| Acquisition costs and customer contracts amortisation | (82 901) | (24 230) | |||||||||
| Net capital items# | (351 977) | 1 027 588 | |||||||||
| Operating profit | 5 919 211 | 6 877 150 | (13.9) | ||||||||
| Net finance charges | (1 020 730) | (1 059 560) | (3.7) | ||||||||
| Finance income | 158 709 | 232 069 | |||||||||
| Finance charges | (1 179 439) | (1 291 629) | |||||||||
| Share of profit of associates | 423 729 | 379 231 | 11.7 | ||||||||
| Current year earnings | 431 857 | 354 966 | 21.7 | ||||||||
| Net capital items# | (8 128) | 24 265 | |||||||||
| Profit before taxation | 5 322 210 | 6 196 821 | (14.1) | ||||||||
| Taxation | (1 436 597) | (1 328 232) | 8.2 | ||||||||
| Profit for the year | 3 885 613 | 4 868 589 | |||||||||
| Attributable to: | |||||||||||
| Shareholders of the Company | 3 817 996 | 4 769 940 | (20.0) | ||||||||
| Non-controlling interest | 67 617 | 98 649 | (31.5) | ||||||||
| 3 885 613 | 4 868 589 | (20.2) | |||||||||
| Basic earnings per share | (cents) | 1 137.3 | 1 430.3 | (20.5) | |||||||
| Diluted basic earnings per share | (cents) | 1 132.4 | 1 423.4 | (20.4) | |||||||
| Supplementary information | |||||||||||
| Normalised headline earnings per share* | (cents) | 1 254.9 | 1 115.4 | 12.5 | |||||||
| Headline earnings per share | (cents) | 1 231.6 | 1 108.2 | 11.1 | |||||||
| Diluted headline earnings per share | (cents) | 1 226.3 | 1 102.9 | 11.2 | |||||||
| Shares in issue | |||||||||||
| Total | (’000) | 336 766 | 335 094 | ||||||||
| Weighted | (’000) | 335 718 | 333 497 | ||||||||
| Diluted weighted | (’000) | 337 161 | 335 098 | ||||||||
| Dividends per share | (cents) | 556.0 | 491.0 | 13.2 | |||||||
| Interim | (cents) | 255.0 | 227.0 | 12.3 | |||||||
| Final | (cents) | 301.0 | 264.0 | 14.0 | |||||||
| * | Normalised headline earnings per share excludes acquisition cost and amortisation of acquired customer contracts. |
| # | Refer to the headline earnings calculation for additional detail. |
| R’000 | 2018 Audited |
2017 Audited |
% Change |
||||||||
| 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 | 3 817 996 | 4 769 940 | (20.0) | ||||||||
| Impairment/(reversal) of property, plant and equipment; goodwill and intangible assets | 12 840 | (1 403) | |||||||||
| Property, plant and equipment† | 3 311 | (1 147) | |||||||||
| Goodwill† | 15 258 | – | |||||||||
| Intangible assets† | 1 115 | – | |||||||||
| Taxation effect | – | 158 | |||||||||
| Non-controlling interest | (6 844) | (414) | |||||||||
| Net loss on disposal of interests in subsidiaries and disposal and closure of businesses | 155 828 | 50 874 | |||||||||
| Loss on disposal and closure† | 188 635 | 65 311 | |||||||||
| Impairment of disposal groups held for sale† | 39 323 | – | |||||||||
| Taxation effect | (37 407) | (14 437) | |||||||||
| Non-controlling interest | (34 723) | – | |||||||||
| Net loss/(gain) on disposal and remeasurement to recoverable fair value of associates | 234 338 | (1 080 926) | |||||||||
| Remeasurement to recoverable fair value of associate† | 248 709 | (1 144 633) | |||||||||
| Net (gain)/loss on change in shareholding in associates† | (2 981) | 82 072 | |||||||||
| Taxation effect | – | (18 365) | |||||||||
| Non-controlling interest | (11 390) | – | |||||||||
| Net gain on disposal of property, plant and equipment and intangible assets | (24 185) | (7 114) | |||||||||
| Property, plant and equipment† | (39 796) | (8 446) | |||||||||
| Intangible assets† | (15 895) | (9 371) | |||||||||
| Taxation effect | 1 400 | 2 909 | |||||||||
| Non-controlling interest | 30 106 | 7 794 | |||||||||
| Compensation received on loss or impairment of property plant and equipment | (70 263) | – | |||||||||
| Compensation received† | (85 702) | – | |||||||||
| Taxation effect | 15 439 | – | |||||||||
| Gain on bargain purchase† | – | (11 374) | |||||||||
| Non-headline items included in equity accounted earnings of associated companies | 8 128 | (24 265) | |||||||||
| Headline earnings | 4 134 682 | 3 695 732 | 11.9 | ||||||||
| † | 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. The calculation of normalised headline earnings per share excludes acquisition costs and amortisation of acquired customer contracts and is based on the normalised headline profit 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.
| R’000 | 2018 Audited |
2017 Audited |
|||||
| Headline earnings | 4 134 682 | 3 695 732 | |||||
|---|---|---|---|---|---|---|---|
| Acquisition costs | 50 190 | 24 230 | |||||
| Amortisation of customer contracts | 32 711 | – | |||||
| Taxation effect | (4 522) | – | |||||
| Normalised headline earnings | 4 213 061 | 3 719 962 | |||||