| |
31 December |
|
31 December |
| |
Audited |
|
Audited |
| |
2009 |
Chang |
2008 |
| |
R000 |
% |
R000 |
| Revenue |
27 692 041 |
(18) |
33 736 910 |
| Trading profit |
1 434 922 |
(53) |
3 026 017 |
| Depreciation and amortisation |
(292 400) |
|
(240 942) |
| Operating profit before interest and taxation |
1 142 522 |
(59) |
2 785 075 |
| Non-trading items |
13 881 |
|
(163 567) |
| Interest received |
161 328 |
|
138 711 |
| Interest paid |
(252 695) |
|
(314 071) |
| Profit before share of associates’ profit |
1 065 036 |
|
2 446 148 |
| Share of associate companies’ profit before taxation |
76 465 |
|
66 076 |
| Profit before taxation |
1 141 501 |
|
2 512 224 |
| Taxation |
(188 075) |
|
(243 030) |
| Profit for the year |
953 426 |
|
2 269 194 |
| Attributable to |
|
|
|
| |
Ordinary shareholders |
872 763 |
(60) |
2 157 890 |
| |
Preference shareholders |
69 023 |
|
90 892 |
| Grindrod Limited shareholders |
941 786 |
|
2 248 782 |
| |
Minority interest |
11 640 |
|
20 412 |
| |
953 426 |
|
2 269 194 |
| Exchange rates (R/US$) |
|
|
|
| |
Opening exchange rate |
|
9,45 |
|
6,89 |
| |
Closing exchange rate |
|
7,37 |
|
9,45 |
| |
Average exchange rate |
|
8,46 |
|
8,27 |
| RECONCILIATION OF HEADLINE
EARNINGS |
|
|
|
| Profit attributable to ordinary shareholders |
872 763 |
|
2 157 890 |
| Adjusted for: |
(15 445) |
|
163 567 |
| |
IAS 38 Impairment of Goodwill |
990 |
|
12 987 |
| |
IAS 38 (Reversal)/Impairment of Intangible Asset in Respect of Charters |
(46 886) |
|
62 660 |
| |
IFRS 3 Negative Goodwill Released |
(156) |
|
(216) |
| |
IAS 16 Impairment of Ships, Plant and Equipment |
36 731 |
|
93 772 |
| |
IFRS 3 Net Profit on Disposal of Investments |
(2 081) |
|
(43 179) |
| |
IAS 16 Net (Profit)/Loss on Sale of Plant and Equipment |
(1 674) |
|
1 386 |
| |
IAS 21 FCTR Adjustment on Disposal of Business |
(805) |
|
35 912 |
| Total tax effects of adjustments |
(1 564) |
|
245 |
| |
|
|
|
| Headline earnings |
857 318 |
|
2 321 457 |
| ORDINARY SHARE PERFORMANCE |
|
|
|
| Number of shares in issue less treasury shares |
(000’s) |
454 203 |
|
450 252 |
| Weighted average number of shares on which earnings per share are based |
(000’s) |
452 278 |
|
453 640 |
| Diluted weighted average number of shares on which diluted earnings per share are based |
(000’s) |
454 436 |
|
459 930 |
| Earnings per share |
(cents) |
|
|
|
| |
Basic |
|
193,0 |
(59) |
475,7 |
| |
Diluted |
|
192,1 |
(59) |
469,2 |
| Headline earnings per share |
(cents) |
|
|
|
| |
Basic |
|
189,6 |
(63) |
511,7 |
| |
Diluted |
|
188,7 |
(63) |
504,7 |
| Dividends per share |
(cents) |
60,0 |
(56) |
136,0 |
| |
Interim |
|
30,0 |
|
68,0 |
| |
Final |
|
30,0 |
|
68,0 |
| Dividend cover |
(times) |
3,2 |
|
3,5 |
