| |
|
Audited |
Audited |
| |
|
31 December |
31 December |
| |
Change |
2008 |
2007* |
| |
% |
R000 |
R000 |
| Revenue |
88 |
33 736 910 |
17 946 727 |
| Trading profit |
91 |
3 026 017 |
1 583 707 |
| Depreciation and amortisation |
|
(240 942) |
(217 920) |
| Operating profit before interest and taxation |
104 |
2 785 075 |
1 365 787 |
| Non-trading items |
|
(163 567) |
3 508 |
| Interest received |
|
138 711 |
109 324 |
| Interest paid |
|
(314 071) |
(239 849) |
| Profit before share of associate profit |
|
2 446 148 |
1 238 770 |
| Share of associate companies’ profit before taxation |
|
66 076 |
62 953 |
| Profit before taxation |
|
2 512 224 |
1 301 723 |
| Taxation |
|
(243 030) |
(15 803) |
| Profit for the year |
|
2 269 194 |
1 285 920 |
| Attributable to |
|
|
|
| Ordinary shareholders |
81 |
2 157 890 |
1 195 293 |
| Preference shareholders |
|
90 892 |
76 872 |
| Grindrod Limited shareholders |
|
2 248 782 |
1 272 165 |
| Minority interest |
|
20 412 |
13 755 |
| |
|
2 269 194 |
1 285 920 |
| Exchange rates (R/US$) |
|
|
|
| Opening exchange rate |
|
6,89 |
7,00 |
| Closing exchange rate |
|
9,45 |
6,89 |
| Average exchange rate |
|
8,27 |
7,07 |
| RECONCILIATION OF HEADLINE EARNINGS |
|
|
|
| Profit attributable to ordinary shareholders |
|
2 157 890 |
1 195 293 |
| Adjusted for: |
|
163 567 |
(3 516) |
| IAS 38 Impairment of Goodwill |
|
12 987 |
2 716 |
| IAS 38 Impairment of Intangible Asset in Respect of Charters |
|
62 660 |
2 843 |
| IFRS 3 Negative Goodwill Realised |
|
(216) |
(7 026) |
| IAS 16 Impairment of Ships, Plant and Equipment |
|
93 772 |
3 420 |
| IFRS 3 Net (Profit)/Loss on Disposal of Investments |
|
(43 179) |
2 058 |
| IAS 16 Net Loss/(Profit) on Sale of Plant and Equipment |
|
1 386 |
(7 519) |
| IAS 21 FCTR Adjustment |
|
35 912 |
– |
| Total tax effects of adjustments |
|
245 |
(8) |
| |
|
|
|
| Headline earnings |
|
2 321 457 |
1 191 777 |
| ORDINARY SHARE PERFORMANCE |
|
|
|
| Number of shares in issue less treasury shares (000’s) |
|
450 252 |
455 459 |
| Weighted average number of shares on which earnings |
|
|
|
| per share are based (000’s) |
|
453 640 |
452 934 |
| Diluted weighted average number of shares on which diluted |
|
|
|
| earnings per share are based (000’s) |
|
459 930 |
462 417 |
| Earnings per share (cents) |
|
|
|
| Basic |
80 |
475,7 |
263,9 |
| Diluted |
82 |
469,2 |
258,5 |
| Headline earnings per share (cents) |
|
|
|
| Basic |
95 |
511,7 |
263,1 |
| Diluted |
96 |
504,7 |
257,7 |
| Dividends/distribution per share (cents) |
74 |
136,0 |
78,0 |
| Interim |
|
68,0 |
34,0 |
| Final |
|
68,0 |
44,0 |
| Dividend/distribution cover (times) |
|
3,5 |
3,4 |
| * Restated due to the application of the revised International Accounting Standards 7 and 16. |
