| |
Unaudited |
|
Unaudited |
|
Audited |
| |
Half-year |
|
Half-year |
|
Year ended |
| |
30 June |
|
30 June |
|
31 December |
| Rmillion |
2006 |
|
2005 |
|
2005 |
|
| 1. |
Operating profit |
|
|
|
|
|
|
Operating profit includes results of operations, Triangle dividends, restructure costs, valuation adjustments and exceptional items. |
|
|
|
|
|
|
|
| 2. |
Net financing costs |
|
|
|
|
|
|
Interest paid |
(56) |
|
(72) |
|
(131) |
|
Financial instrument income |
19 |
|
16 |
|
33 |
|
Interest received |
18 |
|
21 |
|
38 |
|
|
|
|
|
|
|
|
|
(19) |
|
(35) |
|
(60) |
|
|
|
|
|
|
|
| 3. |
Tax |
|
|
|
|
|
|
Normal |
(38) |
|
(29) |
|
(51) |
|
Deferred |
(56) |
|
(43) |
|
(113) |
|
Rate change adjustment (deferred) |
0 |
|
28 |
|
28 |
|
Secondary tax on companies |
(37) |
|
(11) |
|
(26) |
|
|
|
|
|
|
|
|
|
(131) |
|
(55) |
|
(162) |
|
|
|
|
|
|
|
| 4. |
Headline earnings |
|
|
|
|
|
|
Profit attributable to shareholders |
317 |
|
216 |
|
472 |
|
Less after tax effect of surplus on |
|
|
|
|
|
|
sale of fixed assets |
(20) |
|
(8) |
|
(6) |
|
|
|
|
|
|
|
|
|
297 |
|
208 |
|
466 |
|
|
|
|
|
|
|
| 5. |
Capital expenditure commitments |
|
|
|
|
|
Contracted |
115 |
|
64 |
|
112 |
|
Approved but not contracted |
199 |
|
150 |
|
187 |
|
|
|
|
|
|
|
|
|
314 |
|
214 |
|
299 |
|
|
|
|
|
|
|
| 6. |
Operating lease commitments |
34 |
|
31 |
|
39 |
|
|
|
|
|
|
|
| 7. |
Guarantees and contingent liabilities |
51 |
|
48 |
|
44 |
|
|
|
|
|
|
|
| 8. |
Trade and other payables |
|
Included in trade and other payables is the maize obligation (interest bearing) of R75 million (30 June 2005: R99 million and 31 December 2005: R110 million). |
|
|
| 9. |
Basis of preparation |
|
The unaudited results of the Group for the half-year ended 30 June 2006 have been prepared in accordance with the Group’s accounting policies which fully comply with International Financial Reporting Standards, including IAS 34 Interim Financial Reporting. The Group continues to account for its Zimbabwean operations, including Triangle Sugar, on a dividend received basis. |