Earnings releases


Interim Results for the half-year ended 30 June 2005


NOTES

    

 Unaudited  Unaudited  Audited
 Half-year  Half-year  Year ended
 30 June   30 June  31 December
 2005  2004  2004
  Restated  Restated
Rmillion    for IFRS  for IFRS
1.Operating profit
Operating profit includes results of operations, Triangle dividends, restructure costs, valuation adjustments and exceptional items, as disclosed in the segmental analysis.
2.Net financing costs     
Interest paid (72)  (189)  (275)
Financial instrument income 16  98  112
Interest received 21  21  70
 


 (35)  (70)  (93)
 


3.Tax     
Normal (29)  (34)  (51)
Deferred (43)  25  22
Rate change adjustment (deferred) 28    
Secondary tax on companies(11)  (5)  (12)
 


(55)  (14)  (41)
 


4.Headline earnings     
Profit attributable to equity holders216 55  220
Less after tax effect of surplus on sale of fixed assets(8) (2)  (14)
 


208 53  206
 


5.Capital expenditure commitments     
Contracted 64  73  52
Approved but not contracted 150  62  86
 


214  135  138
 


6.Operating lease commitments 31  34  57
 


7.Guarantees and contingent liabilities 48  47  34
 


8.Trade and other payables     
Included in trade and other payables is the maize obligation (interest bearing) of R99 million (30 June 2004: R203 million and 31 December 2004: R218 million).