Abridged audited consolidated financial statements for the year ended 28 February 2006
 

Income statement  |  Balance sheet  |  Statement of changes in equity  |  Cash flow statement  |  Notes  |  IFRS Notes
Segmental analysis  |  Operational contribution  |  Supplementary information | Message to shareholders

 
Notes        

  R millions
               
          2006   2005
              (IFRS
          (Audited)   restated)
               
Headline earnings per share (cents)     17%                   189                     162
Diluted headline earnings per share (cents)     16%                   178                     153
               
               
1.  Capital items                
      Net gain on disposal of property, plant and equipment                          7                        7
      Impairment losses                      (100)                    (200)
      Goodwill adjustment on utilisation of at acquisition tax losses                       (38)                       (4)
      Net gain/(loss) on disposal and closure of businesses                        68                       (4)
      Release of restructure provision                          -                       44
      Foreign currency translation reserve realised   

                      9 

 

                    67

                             (54)                      (90)
                  
2.  Reconciliation between earnings and headline earnings         

Attributable to Altron equity holders 

                       494                     448
Capital items   -  gross                           54                       90
Tax effect of capital items                             9                      (10)
Minority interest in capital items                          (28)                      (83)
         Headline earnings                        529                     445
               
3.     Reconciliation between attributable earnings and            
diluted earnings               
Attributable to Altron equity holders                         494                     448
Additional earnings attributable to BEE minorities in subsidiaries                      (28)                      (18)
Minority interest in adjustments                           12                        9
Dilution in earnings of subsidiary dilutive options                          (3)                       (1)
         Diluted earnings                          475                     438
               
4.     Reconciliation between headline earnings and            
diluted headline earnings             
Attributable to Altron equity holders                         529                     445
Additional earnings attributable to BEE minorities in subsidiaries                      (38)                      (19)
Minority interest in adjustments                           16                        9
Dilution in earnings of subsidiary dilutive options                          (3)                       (5)
         Diluted headline earnings                          504                     430
               
Fully diluted earnings and diluted headline earnings have been calculated in accordance with     
IAS 33 - Earnings per share on the basis that:            
  •  Kagiso Strategic Investments (Pty) Ltd exercised its full option on 22% of the shares in Bytes Technology Group South Africa (Pty) Ltd (BTG SA) effective 1 March 2004 adjusted for the dilutive effect of the option price at BTG SA level. 
  • The recognition of the deferred sale of 30% interest of the Izingwe Consortium in Aberdare Cables based on the assumption that a portion of the purchase price will be settled in cash of R173 million. The effective option was anti-dilutive in the current and prior year and consequently no dilution was calculated.
               
               
               
 - The dilution in earnings of subsidiary dilutive options.