Consolidated income statement – Final Results for the year ended 30 June 2016

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Consolidated income statement

R’000  Year ended 
30 June 2016 
Reviewed 
Year ended 
30 June 2015 
Audited 
Revenue 2 941 047  3 357 297 
Turnover 2 027 813  2 526 096 
Cost of sales (1 918 242) (2 376 827)
Gross profit 109 571  149 269 
Fees and commission earned from joint venture 673 761  643 442 
Other income 266 391  205 672 
Impairment of non-financial assets – group (65 686) (365 073)
Impairment of financial assets (30 344) (114 258)
Other expenses (514 814) (408 869)
Finance costs (38 576) (33 391)
Profit before taxation, joint venture and associate 400 303  76 792 
Taxation (176 376) (102 293)
Profit/(loss) after taxation, before joint venture and associate 223 927  (25 501)
Share of profit from joint venture, after taxation 1 281 000  1 317 138 
Share of loss from associate, after taxation (7 286) (1 197)
Profit for the year 1 497 641  1 290 440 
Attributable to:
Shareholders of the holding company 1 539 363  1 403 371 
Non-controlling shareholders (41 722) (112 931)
As above 1 497 641  1 290 440 
Earnings as above 1 539 363  1 403 371 
Impairment of non-financial assets 268 395  771 261 
Impairment of financial assets 30 344  114 258 
Profit on sale of subsidiary (8 578) – 
(Profit)/loss on disposal of property, plant and equipment (8 321) 10 009 
Taxation effect of above items (58 824) (180 831)
Non-controlling shareholders' portion (18 203) (141 717)
Headline earnings 1 744 176  1 976 351 
Earnings per share (basic and diluted – cents) 1 491  1 360 
Headline earnings per share (basic and diluted – cents) 1 690  1 915 
Dividends per share declared in respect of the profit for the year (cents) 700  600 
– Interim 200  300 
– Final 500  300 
Weighted average number of ordinary shares (million)    
Ordinary shares in issue 139,61  139,61 
Weighted impact of treasury shares held in trust (36,40) (36,40)
  103,21  103,21