Unaudited results for the half year ended 30 November 2012

Summarised group statement of comprehensive income

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	Six months ended 30 November 2012 Unaudited R’000	Six months ended 30 November 2011 Unaudited R’000	Year ended 31 May 2012 Audited R’000
Continuing operations
Revenue	9 466 174	9 249 177	18 715 390
Other income	4 498	89 787	97 412
Change in inventories of finished goods	(8 822 436)	(8 659 445)	(17 507 468)
Employee compensation and benefit expense	(149 083)	(146 339)	(327 830)
Depreciation, amortisation and impairment charges	(33 557)	(45 953)	(91 557)
Other expenses	(126 947)	(94 910)	(227 022)
Operating profit	338 649	392 317	658 925
Finance expense	(91 373)	(74 959)	(181 081)
Finance income	91 062	85 611	170 995
Share of loss in associates and joint ventures	(22 112)	(11 308)	(19 835)
Profit for the period before taxation	316 226	391 661	629 004
Taxation	(98 664)	(117 862)	(194 075)
Net profit from continuing operations	217 562	273 799	434 929
Discontinued operation
Net loss for the period from discontinued operation	—	(12 064)	(15 455)
Net profit for the period	217 562	261 735	419 474
Other comprehensive income:
Exchange profits on translation of equity loans	—	9 038	5 395
Exchange profits on translation of foreign operations	35 331	14 588	36 058
Other comprehensive income for the period, net of tax	35 331	23 626	41 453
Total comprehensive income for the period	252 893	285 361	460 927
Net profit for the period attributable to:
Equity holders of the parent	228 940	271 903	438 104
– From continuing operations	228 940	275 005	443 597
– From discontinued operation	—	(3 102)	(5 493)
Non-controlling interests	(11 378)	(10 168)	(18 630)
– From continuing operations	(11 378)	(1 206)	(8 668)
– From discontinued operation	—	(8 962)	(9 962)
Total comprehensive income for the period attributable to:	252 893	285 361	460 927
Equity holders of the parent	264 228	293 323	477 244
Non-controlling interests	(11 335)	(7 962)	(16 317)
Earnings per share for profit attributable to equity holders (cents)
Basic earnings per share	34,61	36,02	61,87
– From continuing operations	34,61	36,43	62,65
– From discontinued operation	—	(0,41)	(0,78)
Diluted earnings per share**	34,05	35,58	60,97
– From continuing operations	34,05	35,99	61,75
– From discontinued operation	—	(0,41)	(0,78)
Headline earnings per share	34,78	36,74	64,65
– From continuing operations	34,78	37,15	65,43
– From discontinued operation	—	(0,41)	(0,78)
Diluted headline earnings per share**	34,22	36,29	63,70
Dividend per share	23,00	14,00	14,00
Weighted average number of shares	661 520 749	754 875 983	708 059 527
Diluted weighted average number of shares	672 430 432	764 256 072	718 577 060
Number of shares in issue	674 509 042	766 360 894	674 509 042
Reconciliation between net profit and core net profit for the period:
Net profit for the period attributable to equity holders of the parent	228 940	271 903	438 104
Amortisation on intangible assets raised through business combinations net of tax and net of non-controlling interest	6 913	10 237	17 693
Core net profit for the period	235 853	282 140	455 797
Core net profit attributable to:	224 602	271 846	437 420
Equity holders of the parent	235 853	282 140	455 797
Non-controlling interests	(11 251)	(10 294)	(18 377)
– Core earnings per share (cents)*	35,65	37,38	64,37

* Core earnings per share is calculated after adding back the amortisation of intangible assets as a consequence of the purchase price allocations completed in terms of IFRS 3(R): Business Combinations.
** Diluted earnings per share and diluted headline earnings per share are calculated by adjusting the weighted average number of ordinary shares outstanding for the number of shares that would be issued on vesting under the employee forfeitable share plan.