Condensed Balance Sheet
as at 31 December 2008
| Audited | Audited | |
| 31 December | 31 December | |
| 2008 | 2007* | |
| R000 | R000 | |
| Ships, property, terminals, vehicles and equipment | 4 540 514 | 3 046 945 |
| Intangible assets | 713 046 | 521 063 |
| Investments in associates | 316 746 | 236 420 |
| Deferred taxation | 159 352 | 138 069 |
| Derivative financial assets and other investments | 191 238 | 162 250 |
| Loans and advances to bank customers | 1 049 761 | 965 964 |
| Liquid assets and short-term negotiable securities | 138 553 | 228 938 |
| Bank balances and cash | 2 403 087 | 1 254 611 |
| Non-current assets held for sale | 2 245 | 141 608 |
| Other current assets | 4 469 033 | 3 232 192 |
| Total assets | 13 983 575 | 9 928 060 |
| Shareholders’ equity | 6 712 696 | 3 378 332 |
| Minority interest | 62 316 | 60 643 |
| Total equity | 6 775 012 | 3 438 975 |
| Deferred taxation | 18 527 | 33 224 |
| Provision for post retirement medical aid | 77 900 | 72 819 |
| Income received in advance | 151 200 | – |
| Deposits from bank customers | 1 507 046 | 1 397 073 |
| Interest-bearing debt | 1 963 564 | 2 306 187 |
| 10 493 249 | 7 248 278 | |
| Non-current liabilities associated with assets held for sale | – | 90 573 |
| Other liabilities | 3 490 326 | 2 589 209 |
| Total funding | 13 983 575 | 9 928 060 |
| Net worth per ordinary share – at book value (cents) | 1 336 | 590 |
| Net debt:equity ratio | (0,05):1 | 0,29:1 |
| Capital expenditure | 2 158 501 | 1 822 793 |
| Capital commitments | ||
| Authorised by directors and contracted for | 3 245 998 | 2 283 959 |
| Due within one year | 1 647 309 | 1 081 564 |
| Due thereafter | 1 598 689 | 1 202 395 |
| Authorised by directors not yet contracted for | 277 000 |
715 178 |
| DIVISIONAL ANALYSIS | ||
| Revenue | ||
| Shipping | 7 069 205 | 4 373 572 |
| Trading | 24 022 393 | 11 334 072 |
| Freight Services | 2 551 792 | 2 164 255 |
| Financial Services | 93 520 | 74 828 |
| 33 736 910 | 17 946 727 | |
| Trading profit (earnings before interest, taxation, | ||
| depreciation and amortisation) | ||
| Shipping | 2 366 873 | 1 135 143 |
| Trading | 230 177 | 119 223 |
| Freight Services | 382 557 | 290 544 |
| Financial Services | 46 410 | 38 797 |
| 3 026 017 | 1 583 707 | |
| Operating profit before interest and taxation | ||
| Shipping | 2 272 002 | 1 034 429 |
| Trading | 221 920 | 112 332 |
| Freight Services | 246 547 | 181 471 |
| Financial Services | 44 606 | 37 555 |
| 2 785 075 | 1 365 787 | |
| Attributable income | ||
| Shipping | 1 794 758 | 982 488 |
| Trading | 128 672 | 63 277 |
| Freight Services | 198 133 | 113 306 |
| Financial Services | 36 327 | 36 222 |
| 2 157 890 | 1 195 293 | |
| * Restated due to the application of the revised International Accounting Standards 7 and 16. | ||