Condensed consolidated income statementfor the
Download Excel| Half-year ended 31 December |
Year ended 30 June |
|||
| 2021 | 2020 | % | 2021 | |
|---|---|---|---|---|
| R000s | Unaudited | Restated* Unaudited |
Change | Audited |
| Continuing operations | ||||
| Revenue | 50 196 400 | 44 448 758 | 12.9 | 88 314 806 |
| Non-interest revenue | 49 979 918 | 44 219 237 | 87 881 064 | |
| Interest revenue | 216 482 | 229 521 | 433 742 | |
| Cost of revenue | (35 315 870) | (31 033 160) | 13.8 | (61 140 027) |
| Gross profit | 14 880 530 | 13 415 598 | 10.9 | 27 174 779 |
| Operating expenses | (9 932 275) | (9 300 613) | 6.8 | (19 278 934) |
| Net impairment losses on financial assets | (72 431) | (41 847) | (252 164) | |
| Other income | 90 277 | 84 109 | 273 347 | |
| Income from investments | 112 071 | (88 961) | (26 103) | |
| Trading profit | 5 078 172 | 4 068 286 | 24.8 | 7 890 925 |
| Share-based payment expense | (166 957) | (120 907) | (246 096) | |
| Acquisition costs and customer contracts amortisation | (160 359) | (143 754) | (305 025) | |
| Net capital items | (5 245) | (134 005) | (179 663) | |
| Profit before finance charges and associate income | 4 745 611 | 3 669 620 | 29.3 | 7 160 141 |
| Net finance charges | (790 667) | (734 400) | 7.7 | (1 470 534) |
| Finance income | 54 376 | 45 907 | 57 367 | |
| Finance charges | (845 043) | (780 307) | (1 527 901) | |
| Share of profit of associates and joint ventures | 54 463 | 63 137 | (13.7) | 100 095 |
| Current period earnings | 54 463 | 63 137 | (13.7) | 100 208 |
| Net capital items | – | – | (113) | |
| Profit before taxation | 4 009 407 | 2 998 357 | 33.7 | 5 789 702 |
| Taxation | (1 072 942) | (939 947) | 14.1 | (1 670 774) |
| Profit for the period from continuing operations | 2 936 465 | 2 058 410 | 42.7 | 4 118 928 |
| Discontinued operations | ||||
| (Loss) profit after tax from discontinued operations | – | (25 365) | 3 789 | |
| Profit for the period | 2 936 465 | 2 033 045 | 4 122 717 | |
| Attributable to | ||||
| Shareholders of the Company – continuing operations | 2 757 591 | 1 910 663 | 44.3 | 3 840 933 |
| Shareholders of the Company – discontinued operations | – | (25 365) | 3 789 | |
| Non-controlling interest | 178 874 | 147 747 | 21.1 | 277 995 |
| 2 936 465 | 2 033 045 | 44.4 | 4 122 717 | |
| Basic earnings per share (cents) – continuing operations | 811.3 | 562.3 | 44.3 | 1 130.2 |
| Diluted basic earnings per share (cents) – continuing operations | 810.1 | 561.9 | 44.2 | 1 129.4 |
| Basic earnings per share (cents) – discontinued operations | – | (7.5) | 1.1 | |
| Diluted basic earnings per share (cents) – discontinued operations | – | (7.5) | 1.1 | |
| Basic earnings per share (cents) – Group | 811.3 | 554.8 | 46.2 | 1 131.3 |
| Diluted basic earnings per share (cents) – Group | 810.1 | 554.4 | 46.1 | 1 130.5 |
| Supplementary information | ||||
| Normalised headline earnings per share (cents) – continuing operations# | 852.9 | 651.6 | 30.9 | 1 292.0 |
| Headline earnings per share (cents) – continuing operations | 813.8 | 601.7 | 35.3 | 1 183.3 |
| Diluted headline earnings per share (cents) – continuing operations | 812.7 | 601.3 | 35.2 | 1 182.4 |
| Headline earnings per share (cents) – discontinued operations | – | (7.5) | 15.2 | |
| Diluted headline earnings per share (cents) – discontinued operations | – | (7.5) | 15.2 | |
| Normalised headline earnings per share (cents) – Group# | 852.9 | 644.1 | 32.4 | 1 307.2 |
| Headline earnings per share (cents) – Group | 813.8 | 594.2 | 37.0 | 1 198.4 |
| Diluted headline earnings per share (cents) – Group | 812.7 | 593.8 | 36.9 | 1 197.5 |
| Shares in issue | ||||
| Total (’000) | 339 888 | 339 888 | 339 888 | |
| Weighted (’000) | 339 888 | 339 807 | 339 847 | |
| Diluted weighted (’000) | 340 381 | 340 037 | 340 096 | |
| Dividends per share (cents) | 380.0 | 290.0 | 31.0 | 600.0 |
| * | Refer to restatement note (Interest Revenue) |
| # | Refer to Normalised headline earnings per share note for detailed definition |
| Half-year ended 31 December |
Year ended 30 June |
||||
| R000s | 2021 Unaudited |
2020 Unaudited |
% Change |
2021 Audited |
|
|---|---|---|---|---|---|
| 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 | 2 757 591 | 1 910 663 | 44.3 | 3 840 933 | |
| Impairment of property, plant and equipment, right-of-use assets, goodwill and intangible assets | – | – | 71 872 | ||
| Property, plant and equipment # | – | – | 48 976 | ||
| Right-of-use assets # | – | – | (12 950) | ||
| Intangible assets # | – | – | 44 395 | ||
| Taxation effect | – | – | (8 549) | ||
| Net loss on disposal of interests in subsidiaries and disposal and closure of businesses | 3 378 | 114 539 | 62 821 | ||
| Loss on disposal and closure # | 3 378 | 120 897 | 64 722 | ||
| Taxation effect | – | (6 358) | (1 901) | ||
| Net loss on disposal and impairment of associates | 14 150 | 36 147 | 77 448 | ||
| Impairment of associates # | 30 754 | 36 147 | 77 448 | ||
| Net change in shareholding in associates # | (17 218) | – | – | ||
| Non-controlling interest | 614 | – | – | ||
| Net gain on disposal of property, plant and equipment and intangible assets | (8 457) | (2 690) | (2 270) | ||
| Property, plant and equipment # | (10 949) | (3 354) | (8 503) | ||
| Intangible assets # | – | – | 6 259 | ||
| Taxation effect | 2 492 | 664 | 375 | ||
| Non-controlling interest | – | – | (401) | ||
| Compensation received on loss or impairment of property plant and equipment | (518) | (14 173) | (29 667) | ||
| Compensation received # | (720) | (19 685) | (40 684) | ||
| Taxation effect | 202 | 5 512 | 11 017 | ||
| Non-headline items included in equity accounted earnings of associated companies | – | – | 113 | ||
| Headline earnings – continuing operations | 2 766 144 | 2 044 486 | 35.3 | 4 021 250 | |
| (Loss) profit attributable to shareholders of the Company – discontinued operations | – | ( 25 365) | 3 789 | ||
| Loss on disposal of discontinued operations | – | – | 85 224 | ||
| Impairment 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 | 2 766 144 | 2 019 121 | 4 072 785 | ||
# Items above included as capital items on condensed consolidated income statement.
Normalised headline earnings per share
Normalised headline earnings per share is a measurement used by the chief operating decision makers, Mpumi Madisa and the Group executive directors. The calculation of normalised headline earnings per share excludes acquisition costs, amortisation of acquired customer contracts, 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.
| Half-year ended 31 December |
Year ended 30 June |
||||
| R000s | 2021 Unaudited |
2020 Unaudited |
% Change |
2021 Audited |
|
|---|---|---|---|---|---|
| Headline earnings – continuing operations | 2 766 144 | 2 044 486 | 4 021 250 | ||
| Acquisition costs | 17 139 | 7 580 | 33 509 | ||
| Amortisation of acquired customer contracts | 143 220 | 136 174 | 271 516 | ||
| COVID-19 pandemic expenses (refer Significant accounting policiesand judgements) | – | 83 878 | 182 466 | ||
| Taxation effect | (26 321) | (48 195) | (101 433) | ||
| Non-controlling interest | (1 420) | (9 876) | (16 474) | ||
| Normalised headline earnings – continuing operations | 2 898 762 | 2 214 047 | 30.9 | 4 390 834 | |
| Normalised headline earnings – discontinued operations | – | (25 365) | 51 535 | ||
| Normalised headline earnings – Group | 2 898 762 | 2 188 682 | 4 442 369 | ||