 |
|
|
|
|
|
|
|
|
|
|
|
| |
2005 |
|
2004* |
|
2003* |
|
2002 |
|
2001 |
|
2000 |
| |
R millions |
|
R millions |
|
R millions |
|
R millions |
|
R millions |
|
R millions |
| INCOME STATEMENT |
|
|
|
|
|
|
|
|
|
|
|
| Revenue |
12 206 |
|
10 045 |
|
11 397 |
|
9 900 |
|
8 951 |
|
6 972 |
| Operating income |
968 |
|
718 |
|
909 |
|
763 |
|
627 |
|
540 |
| Investment income |
100 |
|
145 |
|
131 |
|
110 |
|
82 |
|
137 |
| Finance costs |
(62) |
|
(26) |
|
(35) |
|
(18) |
|
(6) |
|
(15) |
| Income from associates |
24 |
|
9 |
|
19 |
|
24 |
|
11 |
|
15 |
| Goodwill amortisation and impaired |
(300) |
|
(134) |
|
(105) |
|
(49) |
|
(43) |
|
— |
| Capital items |
114 |
|
(5) |
|
203 |
|
(84) |
|
64 |
|
11 |
| Income before taxation |
844 |
|
707 |
|
1 122 |
|
746 |
|
735 |
|
688 |
| Taxation |
(340) |
|
(255) |
|
(269) |
|
(196) |
|
(146) |
|
(189) |
| Income after taxation |
504 |
|
452 |
|
853 |
|
550 |
|
589 |
|
499 |
| Attributable to: |
|
|
|
|
|
|
|
|
|
|
|
| Minority shareholders |
104 |
|
148 |
|
396 |
|
242 |
|
291 |
|
244 |
| Ordinary and participating |
|
|
|
|
|
|
|
|
|
|
|
| preference shareholders |
400 |
|
304 |
|
457 |
|
308 |
|
298 |
|
255 |
| Dividends paid |
143 |
|
117 |
|
100 |
|
90 |
|
89 |
|
81 |
| |
|
|
|
|
|
|
|
|
|
|
|
| BALANCE SHEET |
|
|
|
|
|
|
|
|
|
|
|
| Assets |
|
|
|
|
|
|
|
|
|
|
|
| Non-current assets |
1 784 |
|
1 322 |
|
1 423 |
|
2 008 |
|
1 847 |
|
1 167 |
| Associates and other
investments |
423 |
|
183 |
|
181 |
|
167 |
|
301 |
|
511 |
| Deferred taxation |
114 |
|
113 |
|
132 |
|
127 |
|
80 |
|
40 |
| Cash and cash equivalents |
1 520 |
|
2 004 |
|
1 510 |
|
1 444 |
|
1 082 |
|
843 |
| Other current assets |
2 937 |
|
2 447 |
|
2 947 |
|
3 234 |
|
2 985 |
|
2 354 |
| Total assets |
6 778 |
|
6 069 |
|
6 193 |
|
6 980 |
|
6 295 |
|
4 915 |
| |
|
|
|
|
|
|
|
|
|
|
|
| Equity and liabilities |
|
|
|
|
|
|
|
|
|
|
|
| Shareholders'
equity |
2 612 |
|
2 489 |
|
2 283 |
|
1 945 |
|
1 761 |
|
1 400 |
| Minority interest |
954 |
|
1 082 |
|
1 292 |
|
1 636 |
|
1 642 |
|
1 300 |
| Fixed capital |
3 566 |
|
3 571 |
|
3 575 |
|
3 581 |
|
3 403 |
|
2 700 |
| Long-term liabilities |
661 |
|
277 |
|
281 |
|
784 |
|
618 |
|
338 |
| Short-term loans |
30 |
|
247 |
|
193 |
|
179 |
|
137 |
|
70 |
| Borrowings |
691 |
|
524 |
|
474 |
|
963 |
|
755 |
|
408 |
| Non-current liabilities |
83 |
|
41 |
|
120 |
|
158 |
|
165 |
|
100 |
| Current liabilities |
2 438 |
|
1 933 |
|
2 024 |
|
2 278 |
|
1 972 |
|
1 707 |
| Total equity and liabilities |
6 778 |
|
6 069 |
|
6 193 |
|
6 980 |
|
6 295 |
|
4 915 |
|
| |
DEFINITIONS |
Earnings – Attributable earnings – as
disclosed in the income statement.
Borrowings – All interest-bearing liabilities, including
redeemable preference shares.
Capital employed – The total of fixed capital
and borrowings.
Operating income – Is stated before goodwill amortised/impaired
and capital items.
Fixed capital – Shareholders' equity interest,
plus minority equity interest in subsidiaries.
Total assets – Property, plant and equipment, investments
and loans together with current assets.
Operating assets – Total assets less investments,
loans, deferred tax and cash. |
| |
| |
2005 |
|
2004* |
|
2003* |
|
2002 |
|
2001 |
|
2000 |
| |
R million |
|
R million |
|
R million |
|
R million |
|
R million |
|
R million |
| |
|
|
|
|
|
|
|
|
|
|
|
| RATIOS AND STATISTICS |
|
|
|
|
|
|
|
|
|
|
|
| Earnings |
|
|
|
|
|
|
|
|
|
|
|
| Basic earnings per share (cents) |
144.7 |
|
111.5 |
|
169,9 |
|
111.9 |
|
103.3 |
|
88.9 |
| Headline earnings per share (cents) |
161.2 |
|
138.1 |
|
155.3 |
|
129.2 |
|
101.5 |
|
85.2 |
| Dividend proposed per share (cents) |
63.0 |
|
52.0 |
|
43.0 |
|
37.0 |
|
31.0 |
|
28.0 |
| Headline dividend cover (times) |
2.6 |
|
2.7 |
|
3.6 |
|
3.5 |
|
3.3 |
|
3.0 |
| Ordinary shares in issue (millions) |
|
|
|
|
|
|
|
|
|
|
|
| – at year end |
94 |
|
94 |
|
94 |
|
94 |
|
96 |
|
97 |
| – weighted average |
94 |
|
94 |
|
94 |
|
95 |
|
97 |
|
97 |
| Participating preference shares |
|
|
|
|
|
|
|
|
|
|
|
| in issue (millions) |
|
|
|
|
|
|
|
|
|
|
|
| – at year end |
184 |
|
180 |
|
177 |
|
174 |
|
192 |
|
191 |
| – weighted average |
182 |
|
179 |
|
175 |
|
181 |
|
191 |
|
191 |
| Profitability |
|
|
|
|
|
|
|
|
|
|
|
| Operating income to turnover (%) |
7.9 |
|
7.1 |
|
8.0 |
|
7.7 |
|
7.0 |
|
7.7 |
| Return on shareholders'equity (%) |
17.3 |
|
16.0 |
|
14.3 |
|
24.1 |
|
15.1 |
|
17.9 |
| Return on capital employed (%) |
22.7 |
|
17.5 |
|
22.5 |
|
16.8 |
|
15.1 |
|
17.4 |
| Return on operating assets (%) |
20.5 |
|
19.1 |
|
20.8 |
|
14.6 |
|
17.2 |
|
18.6 |
| Financial |
|
|
|
|
|
|
|
|
|
|
|
| Borrowings ratio (%) |
19.4 |
|
14.7 |
|
13.3 |
|
26.9 |
|
22.2 |
|
15.1 |
| Current ratio |
1.8:1 |
|
2.0:1 |
|
2.0:1 |
|
1.9:1 |
|
1.9:1 |
|
1.8:1 |
| Acid test ratio |
1.3:1 |
|
1.5:1 |
|
1.5:1 |
|
1.3:1 |
|
1.3:1 |
|
1.3:1 |
| Shares |
|
|
|
|
|
|
|
|
|
|
|
| Number of shareholders |
|
|
|
|
|
|
|
|
|
|
|
| – ordinary shares |
1 616 |
|
1 202 |
|
1 058 |
|
1 067 |
|
510 |
|
426 |
| – participating preference shares |
2 916 |
|
2 722 |
|
2 685 |
|
1 471 |
|
2 184 |
|
2 351 |
| Net asset value per share (cents) |
938.5 |
|
907.0 |
|
842.9 |
|
725.9 |
|
611.7 |
|
486.3 |
| Price earnings ratio (times) |
|
|
|
|
|
|
|
|
|
|
|
| – ordinary shares |
9.6 |
|
8.0 |
|
5.3 |
|
5.9 |
|
7.8 |
|
8.2 |
| – participating preference shares |
9.5 |
|
8.1 |
|
4.8 |
|
5.8 |
|
7.8 |
|
7.8 |
| Market value per share at |
|
|
|
|
|
|
|
|
|
|
|
| year end (cents) |
|
|
|
|
|
|
|
|
|
|
|
| – ordinary shares |
1 555 |
|
1 105 |
|
820 |
|
760 |
|
795 |
|
695 |
| – participating preference shares |
1 538 |
|
1 125 |
|
750 |
|
755 |
|
790 |
|
665 |
| Other |
|
|
|
|
|
|
|
|
|
|
|
| Consumer price index |
|
|
|
|
|
|
|
|
|
|
|
| (percentage increase) |
2.6 |
|
0.7 |
|
10.3 |
|
5.9 |
|
7.8 |
|
2.3 |
| Production price index |
|
|
|
|
|
|
|
|
|
|
|
| (percentage (decrease)/increase) |
1.2 |
|
(1.0) |
|
6.2 |
|
13.2 |
|
9.1 |
|
8.4 |
| Number of employees |
11 800 |
|
10 712 |
|
10 449 |
|
11 232 |
|
13 292 |
|
12 625 |
