Commentary
Group financial review
The Group is pleased to announce a 28.4% increase in adjusted basic headline earnings per share
(HEPS) to 42.9 cents for the six months under review. If the currency impact is excluded, adjusted
basic HEPS increased 32.3% to 44.2 cents.
Currency conversion had a major impact on both the half-year results and financial position of the
Group. This was due to the prevailing strength of the Rand relative to the British Pound during the
period. The average exchange rate used for converting income and expenditure was R12.00 to
the Pound, compared to R14.73 in the comparative prior period, a change of 18.5%. The closing
exchange rate used to convert assets and liabilities at 31 March 2010 was R11.03 to the Pound,
compared to R13.64 at 31 March 2009, a change of 19.1%.
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