Annual Financial Statements


Financial Statements for the year ended 31 December 2007


Statements of Changes in Equity

for the year ended 31 December 2007           Tongaat Hulett Limited
                       
  Share Capital       Share-          
        Share BEE Held Capital based Hegding Retained Shareholders’ Minority Total
  Ordinary B Ordinary A Preferred Premium Consolidation Redemption Payment and Income Interest Interest  
      Ordinary   Shares Reserve Reserve Translation        
Rmillion           funds   Reserves        
CONSOLIDATED                        
Balance at 1 January 2006 104     821   33 28 (24) 3 651 4 613 75 4 688
Share capital issued 3     103           106   106
Transfer on exercise of options       8     (8)          
Hedge reserve released to                        
   income statement               (9)   (9)   (9)
Gain from cash flow hedges               8   8   8
Recognition of share-based payment           22     22   22
Net profit                 723 723 1 724
Dividends paid                 (506) (506)   (506)
Balance at 31 December 2006 107     932   33 42 (25) 3 868 4 957 76 5 033
Share capital issued 1 10 25 1 079 (1 053)         62   62
Repurchase of ordinary shares (5)               (445) (450)   (450)
Equity contribution by BEE minorities                   18 18
Share issue expenses       (9)           (9)   (9)
Transfer on exercise of options       9     (9)          
Currency exchange rate changes               19   19 4 23
Share-based payment charge             374     374   374
Settlement of share-based                        
   payment awards             (81)     (81)   (81)
Consolidation of subsidiaries                     129 129
Hulamin unbundling       (494)     (12) (4) (4 546) (5 056) (19) (5 075)
Net profit                 3 457 3 457 28 3 485
Reallocation of minority interest                 (7) (7) 7  
Dividends paid                 (531) (531)   (531)
Dividends paid - minorities                     (20) (20)
Balance at 31 December 2007 103 10 25 1 517 (1 053) 33 314 (10) 1 796 2 735 223 2 958
COMPANY                        
Balance at 1 January 2006 104     821   29 28 2 2 055 3 039    
Share capital issued 3     103           106    
Transfer on exercise of options       8     (8)          
Hedge reserve released to                        
   income statement               (2)   (2)    
Gain from cash flow hedges               4   4    
Recognition of share-based payment           22     22    
Net profit                 636 636    
Dividends paid                 (506) (506)    
Balance at 31 December 2006 107     932   29 42 4 2 185 3 299    
Share capital issued 1 10 25 1 079           1 115    
Repurchase of ordinary shares (5)               (445) (450)    
Share issue expenses       (9)           (9)    
Transfer on exercise of options       9     (9)          
Share-based payment charge             374     374    
Settlement of share-based payment awards         (75)     (75)    
Hulamin unbundling       (494)     (12)   (3 348) (3 854)    
Net profit                 3 241 3 241    
Dividends paid                 (582) (582)    
Balance at 31 December 2007 103 10 25 1 517   29 320 4 1 051 3 059