Condensed consolidated statement of profit or loss
for the
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| Actual (Note 1) | Pro forma financial information (Note 2) | |||||||||||||||
| Half year ended December 31 |
Half year ended December 31 |
Year ended June 30 |
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| R000s | 2016 Unaudited |
2015 Reviewed |
2015 Reviewed |
% change |
2016 Reviewed |
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| Revenue | 67 821 938 | 64 755 706 | 68 168 588 | (0,5) | 140 523 301 | |||||||||||
| Cost of revenue | (53 294 762) | (51 736 560) | (54 383 309) | 2,0 | (111 339 336) | |||||||||||
| Gross profit | 14 527 176 | 13 019 146 | 13 785 279 | 5,4 | 29 183 965 | |||||||||||
| Operating expenses | (11 701 263) | (10 820 874) | (11 343 495) | (3,2) | (24 033 352) | |||||||||||
| Sales and distribution costs | (9 583 395) | (8 966 888) | (9 297 045) | (19 810 106) | ||||||||||||
| Administration expenses | (2 039 159) | (1 751 620) | (1 920 896) | (3 636 044) | ||||||||||||
| Other costs | (78 709) | (102 366) | (125 554) | (587 202) | ||||||||||||
| Trading profit | 2 825 913 | 2 198 272 | 2 441 784 | 15,7 | 5 150 613 | |||||||||||
| Share-basedpayment expense | (46 486) | (32 051) | (51 807) | (63 984) | ||||||||||||
| Acquisition costs | (14 089) | (328) | (328) | (8 947) | ||||||||||||
| Net capital items | – | – | (9 149) | (157 921) | ||||||||||||
| Operating profit | 2 765 338 | 2 165 893 | 2 380 500 | 16,2 | 4 919 761 | |||||||||||
| Net finance charges | (118 521) | (108 410) | (156 810) | (294 553) | ||||||||||||
| Finance income | 53 549 | 21 669 | 22 275 | 106 230 | ||||||||||||
| Finance charges | (172 070) | (130 079) | (179 085) | (400 783) | ||||||||||||
| Share of profit of associates | 11 546 | 6 981 | 4 580 | 23 985 | ||||||||||||
| Profit before taxation | 2 658 363 | 2 064 464 | 2 228 270 | 19,3 | 4 649 193 | |||||||||||
| Taxation | (657 118) | (522 322) | (571 955) | (14,9) | (1 179 027) | |||||||||||
| Profit for the period | 2 001 245 | 1 542 142 | 1 656 315 | 20,8 | 3 470 166 | |||||||||||
| Attributable to: | ||||||||||||||||
| Shareholders of the Company | 1 993 020 | 1 524 435 | 1 638 908 | 21,6 | 3 430 711 | |||||||||||
| Non-controllinginterest | 8 225 | 17 707 | 17 407 | 39 455 | ||||||||||||
| 2 001 245 | 1 542 142 | 1 656 315 | 20,8 | 3 470 166 | ||||||||||||
| Shares in issue | ||||||||||||||||
| Total (’000) | 335 404 | 10 | 335 404 | 335 404 | ||||||||||||
| Weighted (’000) | 332 000 | 10 | 329 517 | 331 791 | ||||||||||||
| Diluted weighted (’000) | 332 859 | 10 | 331 300 | 332 555 | ||||||||||||
| Basic earnings per share (cents) | 600,3 | 15 093 415,8 | 497,4 | 20,7 | 1 034,0 | |||||||||||
| Diluted basic earnings per share (cents) | 598,8 | 15 093 415,8 | 494,7 | 21,0 | 1 031,6 | |||||||||||
| Headline earnings per share (cents) | 600,3 | 15 059 118,8 | 499,1 | 20,3 | 1 080,0 | |||||||||||
| Diluted headline earnings per share (cents) | 598,8 | 15 059 118,8 | 496,4 | 20,6 | 1 077,5 | |||||||||||
| Distributions per share (cents) | 250,0 | – | 241,0 | |||||||||||||
| Headline earnings | ||||||||||||||||
| The following adjustments to profit attributable to shareholders were taken into account in the calculation of headline earnings: | ||||||||||||||||
| Profit attributable to shareholders of the Company | 1 993 020 | 1 524 435 | 1 638 908 | 3 430 711 | ||||||||||||
| Net impairments | – | – | – | 156 126 | ||||||||||||
| Available-for-saleinvestment | – | – | – | 119 076 | ||||||||||||
| Property, plant and equipment | – | – | – | 41 463 | ||||||||||||
| Intangible assets | – | – | – | 3 817 | ||||||||||||
| Tax relief | – | – | – | (8 230) | ||||||||||||
| Net (profit) loss on disposal of interests in subsidiaries, disposal or closure of businesses | – | (3 464) | 5 685 | (25 656) | ||||||||||||
| (Profit) loss on disposal and closure | – | (3 464) | 5 685 | (26 670) | ||||||||||||
| Tax charge | – | – | – | 1 014 | ||||||||||||
| Net loss on disposal of property, plant and equipment and intangible assets | – | – | – | 11 499 | ||||||||||||
| Property, plant and equipment | – | – | – | 4 256 | ||||||||||||
| Intangible assets | – | – | – | 5 280 | ||||||||||||
| Tax charge | – | – | – | 1 963 | ||||||||||||
| Impairment of associate | – | – | 10 699 | |||||||||||||
| Headline earnings | 1 993 020 | 1 520 971 | 1 644 593 | 21,2 | 3 583 379 | |||||||||||
Note 1: Actual financial results of Bidcorp for the half year ended December 31 2015, do not include assets transferred to Bidcorp from Bidvest as part of the internal restructuring of Bidcorp, as this transfer was effective from April 1 2016.
Note 2: Pro forma financial results of Bidcorp assume that all the assets (referred to in note 1) transferred into Bidcorp by Bidvest as part of the internal restructuring prior to its listing and unbundling had been part of Bidcorp for the full 2016 financial year.