Summarised group statement of comprehensive income

for the year ended 31 May

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    2012
R’000
    2011
R’000
 
Continuing operations            
Revenue   18 715 390     18 064 572  
Other income   97 412     7 197  
Change in inventories of finished goods   (17 507 468)     (16 996 939)  
Employee compensation and benefit expense   (327 830)     (263 360)  
Depreciation, amortisation and impairment charges   (91 557)     (145 985)  
Other expenses   (227 022)     (213 738)  
Operating profit   658 925     451 747  
Finance expense   (181 081)     (115 845)  
Finance income   170 995     146 429  
Share of losses from associates and joint ventures   (19 835)     (2 757)  
Net profit before taxation   629 004     479 574  
Taxation   (194 075)     (152 176)  
Net profit from continuing operations   434 929     327 398  
Discontinued operations            
Net (loss)/profit for the year from discontinued operations   (15 455)     57 573  
Net profit for the year   419 474     384 971  
Other comprehensive income:            
Exchange profit/(loss) on translation of equity loans   5 395     (4 926)  
Exchange profit/(loss) on translation of foreign operations   36 058     (6 550)  
Foreign currency translation reserve recycled to profit or loss       4 219  
Other comprehensive profit/(loss) for the year, net of tax
  41 453     (7 257)  
Total comprehensive income for the year
  460 927     377 714  
Net profit for the year attributable to:            
Equity holders of the parent   438 104     431 448  
– From continuing operations   443 597     337 547  
– From discontinued operations   (5 493)     93 901  
Non-controlling interest   (18 630)     (46 477)  
– From continuing operations   (8 668)     (10 149)  
– From discontinued operations   (9 962)     (36 328)  
Total comprehensive income for the year attributable to:   460 927     377 714  
Equity holders of the parent   477 244     430 538  
Non-controlling interest   (16 317)     (52 824)  
Earnings per share for profit attributable to equity holders (cents)            
Basic earnings per share   61,87     57,04  
– From continuing operations   62,65     44,63  
– From discontinued operations   (0,78)     12,41  
Diluted earnings per share   60,97     56,49  
– From continuing operations   61,74     44,08  
– From discontinued operations   (0,78)     12,41  
Headline earnings per share   64,65     46,20  
– From continuing operations   65,43     50,12  
– From discontinued operations   (0,78)     (3,92)  
Diluted headline earnings per share
  63,70     45,75  
Number of shares in issue   674 509 042     766 360 894  
Number of shares excluding treasury and forfeitable share scheme shares   661 501 917     756 269 004  
Weighted average number of shares   708 059 527     756 359 399  
Diluted weighted average number of shares*   718 577 060     763 742 466  
* Diluted earnings per share and diluted headline earnings per share is calculated by adjusting the number of shares in issue by the number of shares that would be issued on vesting under the forfeitable share plan.  
Reconciliation between net profit and core net profit for the year:            
Net profit for the year attributable to equity holders of the parent   438 104     431 448  
Amortisation on intangible assets raised through business combinations net of tax and non-controlling interest   17 693     24 975  
Core net profit attributable to equity holders of the parent   455 797     456 423  
– Core earnings per share (cents)**   64,37     60,34  
** Core earnings per share is calculated after adding back the amortisation on intangible assets as a consequence of the purchase price allocations completed in terms of IFRS 3(R): Business Combinations.