| |
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|
GROUP |
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| |
|
|
|
Year ended |
|
Year ended |
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| |
|
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|
31 Dec 2005 |
|
31 Dec 2004 |
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| |
|
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Restated |
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| |
|
|
|
Rm |
|
Rm |
|
32.
|
EARNINGS PER SHARE
|
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|
|
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|
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| |
On 23 May 2005 the company issued 4,5 million shares in terms of the
dividend capitalisation. |
|
|
|
|
|
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| |
On 1 July 2004 the company issued 250,6 million ordinary shares. |
|
|
|
|
|
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Earnings |
|
|
|
|
|
|
| |
Net profit per the income statement |
|
|
196,3 |
|
239,1 |
|
| |
Number of shares |
|
|
|
|
|
|
| |
Weighted average number of ordinary shares in issue (millions)
(for the purposes of earnings and headline earnings per share) |
|
|
421,5 |
|
293,4 |
|
| |
Effect of dilutive potential ordinary shares (share options in millions) |
|
|
– |
|
– |
|
| |
Weighted average number of ordinary shares in issue (millions) |
|
|
|
|
|
|
| |
– diluted earnings |
|
|
421,5 |
|
293,4 |
|
| |
Earnings per share (cents) |
|
|
46,6 |
|
81,5 |
|
| |
Diluted earnings per share (cents) |
|
|
46,6 |
|
81,5 |
|
| |
The directors consider that the dilution has no material effect in the current year,
as all significant option holders have revoked their rights to the share options,
and the option strike price is materially out-of-the-money. |
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|
|
|
|
|
| |
Reconciliation between earnings and headline earnings |
|
|
|
|
|
|
| |
Earnings |
|
|
|
|
|
|
| |
Net profit per the income statement |
|
|
196,3 |
|
239,1 |
|
| |
Adjustments net of taxation |
|
|
|
|
|
|
| |
Negative goodwill |
|
|
– |
|
(134,7) |
|
| |
Impairment of investment property |
|
|
0,6 |
|
– |
|
| |
Profit on disposal of property, plant and equipment |
|
|
(12,0) |
|
(2,2) |
|
| |
Profit on sale of subsidiaries |
|
|
– |
|
(3,1) |
|
| |
Discontinued operation closure costs |
|
|
9,5 |
|
– |
|
| |
Headline earnings |
|
|
194,4 |
|
99,1 |
|
| |
Headline earnings per share (cents) |
|
|
46,1 |
|
33,8 |
|
