Condensed consolidated income statementfor the

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  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