 |
|
|
|
|
|
|
| for the year ended February 2010 |
|
Audited
year ended
February
2010
USD’000 |
|
|
Audited
year ended
February
2009
USD’000 |
|
| Revenue |
|
3 738 026 |
|
|
4 191 671 |
|
| Continuing operations |
|
3 698 134 |
|
|
3 980 830 |
|
| Acquisitions |
|
39 892 |
|
|
210 841 |
|
| Cost of sales |
|
(3 239 650) |
|
|
(3 627 835) |
|
| Gross profit |
|
498 376 |
|
|
563 836 |
|
| Operating costs |
|
(387 750) |
|
|
(438 574) |
|
| Unrealised foreign exchange (losses)/gains |
|
(2 090) |
|
|
386 |
|
| Operating profit before finance costs, depreciation and amortisation (“EBITDA”) |
|
108 536 |
|
|
125 648 |
|
| Depreciation |
|
(17 132) |
|
|
(16 751) |
|
| Amortisation of acquired intangible assets |
|
(15 438) |
|
|
(17 711) |
|
| Operating profit before intagible impairment |
|
75 966 |
|
|
91 186 |
|
| Impairment of acquired intangible assets |
|
— |
|
|
(6 375) |
|
| Operating profit |
|
75 966 |
|
|
84 811 |
|
| Interest income |
|
3 904 |
|
|
6 194 |
|
| Financing costs |
|
(13 478) |
|
|
(22 655) |
|
| Fair value movements on put option liabilities |
|
(12 010) |
|
|
16 829 |
|
| Share of equity accounted investment (losses)/earnings |
|
(278) |
|
|
333 |
|
| Profit before taxation |
|
54 104 |
|
|
85 512 |
|
| Taxation |
|
(22 465) |
|
|
(25 493) |
|
| Profit for the year |
|
31 639 |
|
|
60 019 |
|
| Other comprehensive income |
|
|
|
|
|
|
| Translation of foreign subsidiaries |
|
77 498 |
|
|
(109 323) |
|
| Initial recognition and transfers related to put option liabilities |
|
843 |
|
|
(43 125) |
|
| Translation of equity loans net of tax effect |
|
(10 582) |
|
|
2 778 |
|
| Other items |
|
1 075 |
|
|
1 561 |
|
| Total comprehensive income/(loss) for the year |
|
100 473 |
|
|
(88 089) |
|
| Profit attributable to: |
|
|
|
|
|
|
| Owners of the parent |
|
29 974 |
|
|
58 696 |
|
| Non-controlling interests |
|
1 665 |
|
|
1 323 |
|
| |
|
31 639 |
|
|
60 019 |
|
| Total comprehensive income/(loss) attributable to: |
|
|
|
|
|
|
| Owners of the parent |
|
92 029 |
|
|
(80 012) |
|
| Non-controlling interests |
|
8 444 |
|
|
(8 077) |
|
| |
|
100 473 |
|
|
(88 089) |
|
| Number of shares issued (millions) |
|
|
|
|
|
|
| Issued |
|
182 |
|
|
176 |
|
| Weighted average |
|
177 |
|
|
174 |
|
| Diluted weighted average |
|
178 |
|
|
176 |
|
| Earnings per share (“EPS”) (US cents) |
|
|
|
|
|
|
| Basic EPS |
|
17,0 |
|
|
33,7 |
|
| Diluted basic EPS |
|
16,8 |
|
|
33,4 |
|
| SALIENT FINANCIAL FEATURES |
|
|
|
|
|
|
| Headline earnings |
|
29 978 |
|
|
63 258 |
|
| Headline earnings per share (US cents) |
|
|
|
|
|
|
| Headline |
|
17,0 |
|
|
36,3 |
|
| Diluted headline |
|
16,8 |
|
|
36,0 |
|
| Underlying earnings |
|
53 553 |
|
|
57 655 |
|
| Underlying earnings per share (US cents) |
|
|
|
|
|
|
| Underlying |
|
30,3 |
|
|
33,1 |
|
| Diluted underlying |
|
30,0 |
|
|
32,8 |
|
| Net asset value per share (US cents) |
|
366,4 |
|
|
328,0 |
|
| Operating cash generation per share (US cents) |
|
123,7 |
|
|
111,0 |
|
| KEY RATIOS |
|
|
|
|
|
|
| Gross margin (%) |
|
13,3% |
|
|
13,5% |
|
| EBITDA (%) |
|
2,9% |
|
|
3,0% |
|
| Effective tax rate (%) |
|
41,5% |
|
|
29,8% |
|
Effective tax rate (%) excluding fair value movements
on put option liabilities |
|
34,0% |
|
|
37,0% |
|
| Exchange rates |
|
|
|
|
|
|
| Average Rand/US exchange rate |
|
7,9 |
|
|
8,7 |
|
| Closing Rand/US exchange rate |
|
7,6 |
|
|
10,1 |
|
