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Group performance review and outlook

Audited summarised consolidated annual financial statements

Statement of comprehensive earnings
as at 30 June 2014

  Notes   Audited 
2014 
Rm  
Audited 
2013*
Rm  
Revenue     52 959   51 704  
Cost of sales     (49 122)  (48 233) 
Gross earnings     3 837   3 471  
Other earnings*     254   430  
Operating expenses*     (3 373)  (3 274) 
Operating earnings before other gains and losses     718   627  
Earnings / (loss) from equity-accounted investments     33   (12) 
Share of dividend earnings from available-for-sale investments     33   41  
Net operating earnings     784   656  
Impairment of non-financial assets**   6   (831)  —  
Fair value adjustments     15   —  
Finance earnings     136   132  
Finance and transaction expenses     (319)  (162) 
(Loss) / earnings before taxation     (215)  626  
Taxation   12   (161)  (167) 
(LOSS) / EARNINGS FOR THE PERIOD     (376)  459  
Other comprehensive earnings        
Items that may be subsequently recycled to earnings (net of taxation)       
Exchange differences on translating foreign operations     402   196  
Available-for-sale fair value reserve     93   —  
Other comprehensive loss from equity-accounted investments     (28)  —  
Other comprehensive earnings for the period     467   196  
Total comprehensive earnings for the period     91   655  
Total comprehensive earnings for the period attributable to:        
Equity-holders of the parent*     86   661  
Non-controlling interests     5   (6) 
    91   655  
(Loss) / earnings for the period attributable to:        
Equity-holders of the parent     (381)  466  
Non-controlling interest     5   (7) 
    (376)  459  
Other comprehensive earnings for the period attributable to:        
Equity-holders of the parent     467   195  
Non-controlling interest     —   1  
    467   196  
EBITDA for the Group being net operating earnings before depreciation and amortisation is R1 693 million (2013: R1 887 million).
* Comparatives have been amended as detailed in note 3: New accounting standards and interpretations adopted, changes in accounting policies and other reclassifications.
** The impairment of goodwill and related intangible assets was published by the Group in the trading statement on 2 July 2014, amounting to R830 million. However, as a result of rounding, the amount is presented as R831 million in the statement of comprehensive earnings.