NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
for the six months ended 30 June 2007
| 1. |
These condensed consolidated interim financial statements have been prepared in accordance with International Financial Reporting Standards (IFRS) IAS 34 Interim Financial Reporting. The accounting policies used in the preparation of the financial statements are consistent with those used in the annual financial statements for the year ended 31 December 2006. | |||
| UNAUDITED | AUDITED | |||
| 6 MONTHS | YEAR ENDED | |||
| ENDED 30 JUNE | 31 DECEMBER | |||
| 2007 | 2006 | 2006 | ||
| R MILLION | RESTATED | |||
| 2. | Revenue | |||
| Interest income | 0,4 | 4,0 | 8,2 | |
| 3. | Exceptional items | |||
| Loss on dilution of investment in associate | (0,3) | (3,8) | (11,5) | |
| 4. | Headline earnings | |||
| Profit attributable to equity holders of the company | 95,2 | 178,2 | 252,8 | |
| Exceptional items (Note 3) | 0,3 | 3,8 | 11,5 | |
| Attributable share of headline earnings adjustments of associate | (7,6) | (5,4) | 21,0 | |
 |
||||
| Headline earnings | 87,9 | 176,6 | 285,3 | |
|
||||
| Weighted average number of shares in issue (million) | 1 068,0 | 897,8 | 897,8 | |
| Headline earnings per share (cents) | 8,2 | 19,7 | 31,8 | |
| Diluted headline earnings per share (cents) | 8,2 | 16,8 | 27,2 | |
| 5. | Investment in equity accounted investee | |||
| On conversion of the debentures referred to in note 7, Mobile received 13 730 780 shares in Trencor. Goodwill amounting to R259,6 million has arisen on this transaction. | ||||
| 6. | Current assets | 0,1 | 0,1 | 0,6 |
| Cash and cash equivalents | 7,7 | 7,9 | 11,0 | |
|
|
||||
| 7,8 | 8,0 | 11,6 | ||
|
|
||||
| 7. | Conversion of convertible debentures In terms of the trust deed governing the convertible debentures, each debenture converted into three shares, effective 1 January 2007. For calculation of the weighted average number of shares in issue, the shares issued have been included with effect from 1 January 2007. |
|||
| Number of shares issued (million) | 170,2 | – | – | |
| Increase in share capital and premium | ||||
| Share capital | – | – | – | |
| Share premium | 127,6 | – | – | |
|
|
||||
| 127,6 | – | – | ||
|
|
||||
| 8. | Current liabilities | |||
| Trade and other payables | 0,5 | 1,0 | 1,9 | |
| Current tax liability | 0,3 | – | 0,4 | |
| Amount due to subsidiary of associate | – | – | 0,2 | |
|
|
||||
| 0,8 | 1,0 | 2,5 | ||
|
|
||||
| 9. | Reporting changes | |||
| Comparative information for 30 June 2006 has been restated to account for the two IFRS adjustments identified in the preparation of the 2006 Textainer results. | ||||
|
|
||||