| |
|
US dollar |
Pound sterling |
Euro |
| |
|
2008 |
2007* |
2006* |
2008 |
2007* |
2006* |
2008 |
2007* |
2006* |
| |
|
$m |
$m |
$m |
£m |
£m |
£m |
€
|
€ |
€ |
| Balance sheet |
|
|
|
|
|
|
|
|
|
|
| Assets |
|
|
|
|
|
|
|
|
|
|
| Property, plant and equipment |
|
973 |
993 |
1 068 |
546 |
487 |
572 |
693 |
698 |
844 |
| Goodwill and intangible assets |
|
317 |
336 |
429 |
178 |
165 |
229 |
226 |
237 |
338 |
| Investment in associates and joint ventures and other non-current assets |
|
253 |
324 |
246 |
142 |
159 |
132 |
180 |
228 |
194 |
| Deferred taxation assets |
|
59 |
90 |
97 |
33 |
44 |
52 |
42 |
63 |
76 |
| Non-current assets |
|
1 602 |
1 743 |
1 840 |
899 |
855 |
985 |
1 141 |
1 226 |
1 452 |
Current assets |
|
2 499 |
2 702 |
2 750 |
1 402 |
1 327 |
1 472 |
1 779 |
1 900 |
2 171 |
Total assets |
|
4 101 |
4 445 |
4 590 |
2 301 |
2 182 |
2 457 |
2 920 |
3 126 |
3 623 |
| Equity and liabilities |
|
|
|
|
|
|
|
|
|
|
| Capital and reserves |
|
|
|
|
|
|
|
|
|
|
| Share capital and premium |
|
29 |
32 |
42 |
16 |
16 |
23 |
21 |
23 |
33 |
| Reserves and retained income |
|
1 149 |
1 241 |
1 348 |
644 |
609 |
721 |
818 |
872 |
1 064 |
| Non-distributable reserves – foreign currency translation |
|
374 |
343 |
369 |
210 |
168 |
198 |
266 |
241 |
292 |
| Interest of shareholders of Barloworld Limited |
|
1 552 |
1 616 |
1 759 |
870 |
793 |
942 |
1 105 |
1 136 |
1 389 |
| Minority interest |
|
22 |
12 |
89 |
13 |
6 |
48 |
16 |
8 |
70 |
| Interest of all shareholders |
|
1 574 |
1 628 |
1 848 |
883 |
799 |
990 |
1 121 |
1 144 |
1 459 |
| Non-current liabilities |
|
755 |
962 |
1 020 |
424 |
472 |
546 |
538 |
677 |
805 |
| Deferred taxation liabilities |
|
32 |
88 |
112 |
18 |
43 |
60 |
23 |
62 |
88 |
| Non-current liabilities |
|
723 |
874 |
908 |
406 |
429 |
486 |
515 |
615 |
717 |
Current liabilities |
|
1 772 |
1 855 |
1 722 |
994 |
911 |
921 |
1 261 |
1 305 |
1 359 |
Total equity and liabilities |
|
4 101 |
4 445 |
4 590 |
2 301 |
2 182 |
2 457 |
2 920 |
3 126 |
3 623 |
| Cash flow statement |
|
|
|
|
|
|
|
|
|
|
| Cash flow from operations |
|
267 |
541 |
751 |
135 |
274 |
417 |
177 |
406 |
609 |
| Dividends paid (including minority shareholders) |
|
(84) |
(366) |
(197) |
(42) |
(185) |
(110) |
(56) |
(274) |
(160) |
| Net cash flow from operating activities |
|
183 |
175 |
554 |
93 |
89 |
307 |
121 |
132 |
449 |
| Net cash used in investing activities |
|
(351) |
(122) |
(447) |
(178) |
(62) |
(248) |
(232) |
(92) |
(363) |
| Net cash flow from/(used in) financing activities |
|
181 |
(138) |
(35) |
92 |
(70) |
(19) |
120 |
(103) |
(28) |
Net increase/(decrease) in cash and cash equivalents |
|
13 |
(85) |
72 |
7 |
(43) |
40 |
9 |
(63) |
58 |
| Exchange rates used: |
|
|
|
|
|
|
|
|
|
|
| Balance sheet – closing rate (rand) |
|
8.28 |
6.90 |
7.77 |
14.76 |
14.05 |
14.51 |
11.63 |
9.81 |
9.84 |
| Income statement and cash flow statement – average rate (rand) |
|
7.43 |
7.18 |
6.57 |
14.68 |
14.18 |
11.83 |
11.21 |
9.58 |
8.10 |
| Income statement |
|
|
|
|
|
|
|
|
|
|
| Continuing operations |
|
|
|
|
|
|
|
|
|
|
Revenue |
|
6 303 |
5 537 |
4 939 |
3 190 |
2 804 |
2 743 |
4 178 |
4 150 |
4 006 |
| Operating profit before items listed below |
|
402 |
317 |
252 |
204 |
161 |
140 |
266 |
238 |
205 |
| BEE transaction charge |
|
(45) |
|
|
(23) |
|
|
(30) |
|
|
| Pension fund gain |
|
|
|
23 |
|
|
13 |
|
|
18 |
| Operating profit |
|
357 |
317 |
275 |
181 |
161 |
153 |
236 |
238 |
223 |
| Fair value adjustments on financial instruments |
|
(11) |
41 |
34 |
(5) |
21 |
19 |
(7) |
31 |
28 |
| Finance costs |
|
(120) |
(88) |
(66) |
(61) |
(45) |
(37) |
(79) |
(66) |
(54) |
| Income from investments |
|
26 |
23 |
21 |
13 |
11 |
12 |
17 |
17 |
17 |
| Profit before exceptional items |
|
252 |
293 |
264 |
128 |
148 |
147 |
167 |
220 |
214 |
| Exceptional items |
|
(2) |
(10) |
18 |
(1) |
(5) |
10 |
(1) |
(8) |
14 |
| Profit before taxation |
|
250 |
283 |
282 |
127 |
143 |
157 |
166 |
212 |
228 |
| Taxation |
|
(82) |
(76) |
(81) |
(41) |
(39) |
(46) |
(54) |
(57) |
(65) |
| Secondary taxation on companies |
|
(9) |
(21) |
(4) |
(5) |
(10) |
(2) |
(6) |
(16) |
(3) |
| Profit after taxation |
|
159 |
186 |
197 |
81 |
94 |
109 |
106 |
139 |
160 |
| Income from associates and joint ventures |
|
10 |
7 |
8 |
5 |
4 |
5 |
6 |
6 |
7 |
Net profit from continuing operations |
|
169 |
193 |
205 |
86 |
98 |
114 |
112 |
145 |
167 |
| Discontinued operations |
|
|
|
|
|
|
|
|
|
|
| (Loss)/profit from discontinued operations |
|
(1) |
163 |
213 |
(1) |
83 |
118 |
(1) |
122 |
172 |
Net profit |
|
168 |
356 |
418 |
85 |
181 |
232 |
111 |
267 |
339 |
| Attributable to: |
|
|
|
|
|
|
|
|
|
|
| Minority shareholders |
|
2 |
40 |
59 |
1 |
20 |
33 |
1 |
30 |
48 |
| Barloworld Limited shareholders |
|
166 |
316 |
359 |
84 |
161 |
199 |
110 |
237 |
291 |
| |
|
168 |
356 |
418 |
85 |
181 |
232 |
111 |
267 |
339 |
| Headline earnings from continuing operations |
|
169 |
190 |
188 |
86 |
96 |
104 |
112 |
142 |
152 |
| |
|
|
|
|
|
|
|
|
|
|
| Earnings per share from continuing operations (cents) |
|
81.8 |
94.6 |
97.9 |
41.4 |
47.9 |
54.4 |
54.2 |
70.9 |
79.4 |
| Headline earnings per share from continuing operations (cents) |
|
82.6 |
93.7 |
90.7 |
42.0 |
47.4 |
50.3 |
54.8 |
70.1 |
73.4 |
Ordinary dividends per share (cents) |
|
33.7 |
52.2 |
91.3 |
17.0 |
26.4 |
50.7 |
22.3 |
39.1 |
74.1 |
Review of operations 
