| Condensed consolidated |
Unaudited |
|
Unaudited |
|
Audited |
| |
Half-year |
|
Half-year |
|
Year ended |
| |
30 June |
|
30 June |
|
31 December |
| Rmillion |
2008 |
|
2007 |
|
2007 |
|
| |
|
|
|
|
|
|
| 1. |
Valuation adjustments |
|
|
|
|
|
| |
Exchange rate translation gain/(loss) |
13 |
|
3 |
|
(1) |
| |
Fair value adjustment on long-term receivable |
(7) |
|
|
|
|
| |
|
|
|
| |
|
(6) |
|
3 |
|
(1) |
| |
|
|
|
| |
|
|
|
|
|
|
| 2. |
Net financing costs |
|
|
|
|
|
| |
Interest paid |
(155) |
|
(90) |
|
(208) |
| |
Interest capitalised |
42 |
|
|
|
15 |
| |
Interest received |
28 |
|
53 |
|
74 |
| |
|
|
|
| |
|
(85) |
|
(37) |
|
(119) |
| |
|
|
|
| |
|
|
|
|
|
|
| 3. |
Tax |
|
|
|
|
|
| |
Normal |
(46) |
|
(63) |
|
(98) |
| |
Deferred |
(38) |
|
4 |
|
(63) |
| |
Rate change adjustment (deferred) |
22 |
|
|
|
|
| |
Secondary tax on companies |
(22) |
|
(47) |
|
(127) |
| |
|
|
|
| |
|
(84) |
|
106) |
|
(288) |
| |
|
|
|
| |
|
|
|
|
|
|
| 4. |
Headline earnings |
|
|
|
|
|
| |
Profit attributable to shareholders |
266 |
|
3 198 |
|
3 457 |
| |
Less after tax effect of surplus on sale of fixed assets |
(14) |
|
(5) |
|
(48) |
| |
Reversal of fair value adjustment of Hulamin |
|
|
(3 348) |
|
(3 348) |
| |
|
|
|
| |
|
252 |
|
(155) |
|
61 |
| |
|
|
|
| |
|
|
|
|
|
|
| 5. |
Capital expenditure commitments |
|
|
|
|
|
| |
Contracted |
143 |
|
196 |
|
539 |
| |
Approved |
611 |
|
1 298 |
|
796 |
| |
|
|
|
| |
|
754 |
|
1 494 |
|
1 335 |
| |
|
|
|
| |
|
|
|
|
|
|
| 6. |
Operating lease commitments |
15 |
|
20 |
|
23 |
| |
|
|
|
| |
|
|
|
|
|
|
| 7. |
Guarantees and contingent liabilities |
86 |
|
27 |
|
35 |
| |
|
|
|
| 8. |
Trade and other payables |
| |
Included in trade and other payables is the maize obligation (interest bearing) of R209 million (30 June 2007: R160 million and 31 December 2007: R163 million).
|
| |
|
| 9. |
Basis of preparation |
|
The condensed consolidated unaudited results for the half-year ended 30 June 2008 have been prepared in accordance with International Accounting Standard 34 Interim Financial Reporting. The accounting policies are consistent with those used for the audited 2007 annual financial statements which fully comply
with International Financial Reporting Standards. Tongaat Hulett continues
to account for its Zimbabwean operations on a dividend received basis.
|