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1. |
Commitments and contingencies |
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There are no material contingent assets or liabilities at 30 June 2011. |
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Capital commitments at 30 June 2011 |
Rm |
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– Contracted |
27 |
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– Authorised, not contracted |
83 |
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Total |
110 |
2. |
Share issue in lieu of dividend |
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As announced on 31 March 2010, as a consequence of the special dividend declaration on 18 February 2010, 123 532 370 shares were issued in lieu of dividend at the option of shareholders. This has impacted on the comparability of certain figures, in particular earnings per share. As a result, adjusted headline earnings per share has been presented for comparative purposes (assuming the share issue in lieu of dividend took place at the beginning of the 2010 financial year). |
3. |
Associate accounting |
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During the year, the Group began accounting for an existing investment in Ezee Tile, a national manufacturer of adhesive, grout and related products, in accordance with the equity accounting requirements of IAS 28, Investments in associates. Management is of the opinion that significant influence over the operations of Ezee Tile was attained during the year, triggering the requirement to apply equity accounting for such. |
4. |
Changes in accounting policy |
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The accounting policies adopted and methods of computation are consistent with those of the previous financial year except for the adoption of new and amended IFRS and IFRIC interpretations which became effective during the current financial year. The application of these standards and interpretations did not have a significant impact on the Group’s reported results and cash flows for the year ended
30 June 2011 and the financial position at 30 June 2011. |
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Reviewed |
Audited |
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year to |
year to |
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30 June |
30 June |
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2011 |
2010 |
5. |
Earnings per share |
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Shares in issue: (all figures in millions) |
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– Total number of shares issued |
1 033 |
1 033 |
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– Shares held by Share Incentive Trust |
26 |
24 |
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– BEE treasury shares |
88 |
88 |
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Shares in issue to external parties |
919 |
921 |
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Reconciliation of headline earnings: (Rand millions) |
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– Profit attributable to equity shareholders |
320 |
273 |
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– (Profit)/loss on sale of property, plant and equipment |
(2) |
1 |
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Headline earnings |
318 |
274 |
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Share numbers used for earnings per share calculations:
(all figures in millions) |
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– Weighted average number of shares |
920 |
828 |
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– Diluted weighted average number of shares |
922 |
830 |
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– Adjusted weighted average number of shares |
920 |
921 |