HIGHLIGHTS

  • Historic empowerment transaction successfully concluded
  • Earnings not comparable
  • Good operating results
  • Coal production reaches
    24 million tonnes
  • Strong project pipeline for transformed group
  • Options to acquire Namakwa Sands and a 26% interest in Black Mountain/Gamsberg exercised post December 2006

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CONDENSED GROUP INCOME STATEMENT

 
                 Year ended 31 December
 
2006  
2005  
 
Audited  
Restated  
CONTINUING OPERATIONS
Rm  
Rm  
 
Revenue
7,263  
5,308  
Operating expenses
(6,022) 
(4,319) 
Fair value adjustment on unbundling of subsidiary
17,963  
BEE credential expense and unbundling costs
(821) 
Impairment of property, plant and equipment
(784) 
  
Net operating profit
17,599  
989  
Net financing costs
(307) 
(162) 
Share of income from equity accounted investments
159  
7  
Profit before taxation
17,451  
834  
Taxation
(578) 
(323) 
Profit for the year from continuing operations
16,873  
511  
Profit for the year from discontinued operations (note 5)
2,323  
2,727  
Profit for the year
19,196  
3,238  
Attributable to:
Equity holders of the parent
19,169  
3,177  
Minority interest
27  
61  
Net profit
19,196  
3,238  
Ordinary shares (million)
– in issue
351  
306  
– weighted average number of shares
313  
304  
– diluted weighted average number of shares
318  
311  
Attributable earnings per share (cents)
– basic (restated for December 2005)
6,124  
1,045  
– diluted (restated for December 2005)
6,028  
1,022  
Attributable earnings per share from continuing operations (cents)
– basic (restated for December 2005)
 5,382  
148  
– diluted (restated for December 2005)
5,297  
145  
Attributable earnings per share from discontinued operations (cents)
– basic (restated for December 2005)
742  
897  
– diluted (restated for December 2005)
731  
877  
Dividend paid per share (cents) in respect of the
previous financial year
160  
90  
Dividend paid per share (cents) in respect of the interim period
180  
160  
Special dividend paid per share (cents) in respect of the interim period
220  
Special dividend paid per share (cents) on unbundling
185  
Final dividend paid per share (cents) in respect of this financial year
  
160  
Reconciliation of headline earnings
Net profit attributable to ordinary shareholders
19,169  
3,177  
– Impairment charges
784  
28  
– Share of associate’s net profit on disposal of property, plant
   and equipment
(1) 
 
– Excess of minority interest over cost of acquisition
(36) 
(95) 
– Net deficit on disposal or scrapping of property, plant
   and equipment
3  
2  
– Fair value adjustment prior to unbundling
(17,963) 
– Net profit on disposal of investments
(39) 
(1,179) 
– Minority interest on adjustments
(1) 
– Taxation effect of adjustments
(219) 
428  
Headline earnings
1,698  
2,360  
Headline earnings from discontinued operations
2,328  
1,996  
Headline earnings from continuing operations
(630) 
364  
Headline earnings per share (cents)
– basic (restated for December 2005)
542  
776  
– diluted (restated for December 2005)
534  
759  
Headline earnings per share from continuing operations (cents)
  
– basic (restated for December 2005)
(201) 
120  
– diluted (restated for December 2005)
(198) 
117  
Headline earnings per share from discontinued operations (cents)
– basic (restated for December 2005)
744  
 657  
– diluted (restated for December 2005)
732  
642  

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