| |
|
|
|
|
|
2008 |
2007 |
2006 |
| |
|
|
|
|
|
Rm |
Rm |
Rm |
| 27. |
Earnings and headline earnings per share |
|
|
|
|
|
|
| 27.1 |
Fully converted weighted average number of shares |
|
|
|
|
| |
Weighted average number of ordinary shares (net of share buy-back) |
|
204 558 742 |
202 673 141 |
206 959 270 |
| |
Increase in number of shares as a result of unexercised share options |
|
2 657 567 |
3 770 963 |
4 039 110 |
|
| |
Fully converted weighted average number of shares |
|
|
|
207 216 309 |
206 444 104 |
210 998 380 |
| |
Account is taken of the number of ordinary shares in issue for |
|
|
|
|
| |
the period in which they are entitled to participate in the net |
|
|
|
|
| |
profit of the group. |
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
| |
Net profit for the year (R million) |
|
|
|
|
1 232 |
2 270 |
2 357 |
| |
Net profit for the year from continuing operations (R million) |
|
1 244 |
1 377 |
1 331 |
| |
Net (loss)/profit for the year from discontinued operations (R million) |
|
(12) |
893 |
1 026 |
| |
|
|
|
|
|
|
|
|
| |
|
2008 |
|
2007 |
2006 |
|
|
|
| |
|
Cents |
|
Cents |
Cents |
|
|
|
| 27.2 |
Earnings per share |
|
|
|
|
|
|
|
| |
BASIC |
|
|
|
|
|
|
|
| |
The weighted average number |
|
|
|
|
|
|
|
| |
of ordinary shares |
|
|
|
|
204 558 742 |
202 673 141 |
206 959 270 |
| |
Earnings per share (basic) |
602.2 |
|
1 120.0 |
1 138.9 |
|
|
|
| |
Earnings per share from |
|
|
|
|
|
|
|
| |
continuing operations (basic) |
608.1 |
|
679.4 |
643.1 |
|
|
|
| |
(Loss)/earnings per share from |
|
|
|
|
|
|
|
| |
discontinued operations (basic) |
(5.9) |
|
440.6 |
495.8 |
|
|
|
| |
DILUTED |
|
|
|
|
|
|
|
| |
Fully converted weighted |
|
|
|
|
|
|
|
| |
average number of shares |
|
|
|
|
|
|
|
| |
(note 27.1) |
|
|
|
|
207 216 309 |
206 444 104 |
210 998 380 |
| |
Earnings per share (diluted) |
594.5 |
|
1 099.6 |
1 117.1 |
|
|
|
| |
Percentage dilution |
1.3 |
|
1.8 |
1.9 |
|
|
|
| |
Earnings per share from |
|
|
|
|
|
|
|
| |
continuing operations |
|
|
|
|
|
|
|
| |
(diluted) |
600.3 |
|
667.0 |
630.8 |
|
|
|
| |
(Loss)/earnings per share |
|
|
|
|
|
|
|
| |
from discontinued operations |
|
|
|
|
|
|
|
| |
(diluted) |
(5.8) |
|
432.6 |
486.3 |
|
|
|
| 27.3 |
Headline earnings per share |
|
|
|
|
|
|
|
| |
BASIC |
|
|
|
|
|
|
|
| |
Profit for the year attributable to Barloworld Limited shareholders (R million) |
1 232 |
2 270 |
2 357 |
| |
Adjusted for the following: |
|
|
|
|
|
|
|
| |
(Profit)/loss on disposal of discontinued operations (IFRS 5) |
|
(168) |
150 |
185 |
| |
Loss on disposal of subsidiaries (IAS 27) |
|
|
|
|
|
36 |
(14) |
| |
(Profit)/loss on derecognition of subsidiary (IAS 27) |
|
|
|
|
(11) |
3 |
| |
Realisation of translation reserve on disposal of offshore subsidiaries (IAS 21) |
(201) |
(284) |
|
| |
Profit on disposal of properties (IAS 16) |
|
|
|
|
(30) |
(45) |
(129) |
| |
Impairment of goodwill (IFRS 3) |
|
|
|
|
343 |
169 |
23 |
| |
Impairment of investments in associates (IAS 28) and joint ventures (IAS 31) |
37 |
149 |
4 |
| |
Impairment of plant and equipment (IAS 16) |
|
|
|
2 |
45 |
|
| |
Loss/(profit) on sale of intangible assets (IAS 38) |
|
|
|
2 |
(2) |
2 |
| |
(Profit)/loss on sale of plant and equipment excluding rental assets (IAS 16) |
(3) |
(5) |
2 |
|
| |
Gross remeasurements excluded from headline earnings |
|
(18) |
202 |
76 |
| |
Taxation effects of remeasurements |
|
42 |
(82) |
(10) |
| |
Taxation benefit on impairment of plant and equipment (IAS 16) |
|
(1) |
|
|
| |
Taxation charge/(benefit) on disposal of subsidiaries (IAS 27) |
|
43 |
(14) |
(29) |
| |
Taxation benefit on impairment of goodwill (IFRS 3) |
|
|
(23) |
|
| |
Taxation (benefit)/charge on impairment of investments in associates |
|
|
|
|
| |
(IAS 28) and joint ventures (IAS 31) |
|
|
(49) |
1 |
| |
Taxation charge on profit on disposal of properties (IAS 16) |
|
|
4 |
18 |
| |
Interest of outside shareholders in remeasurements |
|
|
4 |
|
| |
Net remeasurements excluded from headline earnings |
|
24 |
124 |
66 |
| |
Headline earnings (R million) |
|
1 256 |
2 394 |
2 423 |
| |
Profit from continuing operations (R million) |
|
1 257 |
1 387 |
1 349 |
| |
Minority shareholders interest in net profit from continuing |
|
|
|
|
| |
operations (R million) |
|
(13) |
(10) |
(18) |
| |
Profit from continuing operations attributable to Barloworld Limited |
|
|
|
|
| |
shareholders (R million) |
|
1 244 |
1 377 |
1 331 |
| |
Adjusted for the following items in continuing operations: |
|
|
|
|
| |
Loss/(profit) on disposal of subsidiaries (IAS 27) |
|
|
36 |
(14) |
| |
Realisation of translation reserve on disposal of offshore subsidiaries (IAS 21) |
|
|
(197) |
|
| |
Profit on disposal of properties (IAS 16) |
|
(30) |
(27) |
(127) |
| |
Impairment of goodwill (IFRS 3) |
|
10 |
68 |
23 |
| |
Impairment of investments in associates (IAS 28) and joint ventures (IAS 31) |
|
35 |
149 |
|
| |
Impairment of plant and equipment (IAS 16) |
|
2 |
45 |
|
| |
Loss/(profit) on sale of intangible assets (IAS 38) |
|
2 |
(1) |
1 |
| |
Profit on sale of plant and equipment excluding rental assets (IAS 16) |
|
(3) |
(5) |
|
| |
Gross remeasurements excluded from headline earnings from continuing |
|
|
|
|
| |
operations |
|
16 |
68 |
(117) |
| |
Taxation effects of remeasurements |
|
(1) |
(83) |
19 |
| |
Taxation benefit on impairment of plant and equipment (IAS 16) |
|
(1) |
|
|
| |
Taxation charge/(benefit) on disposal of subsidiaries (IAS 27) |
|
|
(11) |
|
| |
Taxation benefit on impairment of goodwill (IFRS 3) |
|
|
(23) |
|
| |
Taxation (benefit)/charge on impairment of investments in associates |
|
|
|
|
| |
(IAS 28) and joint ventures (IAS 31) |
|
|
(49) |
1 |
| |
Taxation charge on profit on disposal of properties (IAS 16) |
|
|
|
18 |
|
|
|
|
|
|
| |
Net remeasurements excluded from headline earnings from continuing |
|
|
|
|
| |
operations |
|
15 |
(15) |
(98) |
| |
Headline earnings from continuing operations (R million) |
|
1 259 |
1 362 |
1 233 |
| |
Profit from discontinued operations (R million)
Minority shareholders’ interest in net profit from discontinued |
|
(11) |
1 172 |
1 397 |
| |
operations (R million) |
|
(1) |
(279) |
(371) |
| |
Profit from discontinued operations attributable to Barloworld |
|
|
|
|
| |
Limited shareholders (R million) |
|
(12) |
893 |
1 026 |
| |
Adjusted for the following items in discontinued operations: |
|
|
|
|
| |
(Profit)/loss on disposal of discontinued operations (IFRS 5) |
|
(168) |
150 |
185 |
| |
Realisation of translation reserve on disposal of offshore |
|
|
|
|
| |
subsidiaries (IAS 21) |
|
(201) |
(87) |
|
| |
(Profit)/loss on derecognition of subsidiary (IAS 27) |
|
|
(11) |
3 |
| |
Impairment of investments in associates (IAS 28) and joint ventures (IAS 31) |
|
2 |
|
4 |
| |
(Profit)/loss on disposal of properties (IAS 16) |
|
|
(18) |
(2) |
| |
Impairment of goodwill (IFRS 3) |
|
333 |
101 |
|
| |
Profit on sale of intangible assets (IAS 38) |
|
|
(1) |
1 |
| |
Profit on sale of plant and equipment excluding rental assets (IAS 16) |
|
|
|
2 |
| |
Gross remeasurements excluded from headline earnings from |
|
|
|
|
| |
discontinued operations |
|
(34) |
134 |
193 |
| |
Taxation effects of remeasurements |
|
43 |
1 |
(29) |
| |
Taxation charge/(benefit) on disposal of subsidiaries (IAS 27) |
|
43 |
(3) |
(29) |
| |
Taxation charge on profit on disposal of properties (IAS 16) |
|
|
4 |
1 |
| |
Taxation benefit on impairment of investments in associates (IAS 28) |
|
|
|
|
| |
and joint ventures (IAS 31) |
|
|
|
(1) |
| |
Interest of outside shareholders in remeasurements |
|
|
4 |
|
| |
Net remeasurements excluded from headline earnings |
|
|
|
|
| |
from discontinued operations |
|
9 |
139 |
164 |
| |
Headline (loss)/earnings from discontinued operations (R million) |
|
(3) |
1 032 |
1 190 |
| |
The weighted average number of ordinary shares |
|
204 558 742 |
202 673 141 |
206 959 270 |
| |
|
|
|
|
|
Review of operations 
