Operating profit before finance costs, depreciation
and amortisation (“EBITDA”)
119 356
85 151
24 363
23 788
18 250
89 926
Operating profi t/(loss) before goodwill adjustment/impairment
100 284
69 394
9 964
1 061
(5 356)
68 811
Westcon
72 504
56 861
15 420
23 781
20 908
62 796
Logicalis
18 783
11 546
6 081
(6 811)
(7 390)
(4 199)
Analysys Mason
5 752
5 835
3 007
(1 400)
2 057
590
Other Holdings
(5 916)
(5 743)
(4 686)
(8 124)
(4 747)
(4 027)
Head Office foreign exchange gain/(loss)
9 161
895
(5 602)
(6 727)
(10 730)
15 501
Discontinued operations
—
—
(4 256)
342
(5 454)
(1 850)
Operating profit/(loss)
99 142
68 969
6 649
(13 219)
(31 774)
2 665
Profit/(Loss) before taxation
89 433
63 795
53 525
(20 522)
(29 080)
(17 617)
Profit/(Loss) after taxation
62 152
39 187
51 864
(26 383)
(31 683)
(36 457)
Attributable profit/(loss)
60 049
37 772
51 757
(26 612)
(31 513)
(37 636)
Headline profit/(loss)
61 226
38 293
4 958
(9 213)
(9 842)
37 036
Capital distribution to shareholders
(6 589)
—
—
—
—
—
Non-current assets
242 096
189 959
138 608
118 028
144 326
141 229
Current assets
1149 138
951 613
841 778
860 956
747 351
735 651
Equity attributable to equity holders of the parent
537 744
448 846
412 227
344 283
337 886
353 570
Minorities’ interest
14 852
12 505
24 089
19 276
18 782
17 391
Non-current liabilities
65 518
50 880
39 50
7 643
23 682
6 782
Current liabilities
773 120
629 341
540 120
607 782
511 327
499 136
Net cash (outflow)/inflow from operating activities
(3 626)
52 207
19 539
(31 948)
124 701
118 873
Net cash (outflow)/inflow from investing activities
(60 334)
(54 382)
24 469
(3 365)
(32 594)
(54 601)
Net cash inflow/(outflow) from financing activities
24 896
40 740
1 067
(12 213)
2 274
(10 093)
Cash net of short-term borrowings
141 392
172 251
140 270
88 703
115 604
14 650
Cash net of short and long-term borrowings
98 783
129 356
138 820
85 047
101 428
9 562
In US cents
Headline earnings/(loss) per share
41
27
4
(7)
(7)
28
Basic earnings/(loss) per share
40
27
37
(19)
(23)
(29)
Net tangible asset value per share
220
207
228
203
195
208
Restated
Restated
Restated
Restated
Restated
2007
2006
2005
2004
2003*
2002
Summary of statistics
Ratios
Return on total assets
7,2%
6,1%
1,0%
0,1%
(0,6%)
7,8%
Return on capital employed
16,3%
13,5%
2,3%
0,3%
(1,4%)
18,2%
Return on ordinary shareholders’ funds
16,9%
14,3%
1,5%
(1,0%)
(2,2%)
16,6%
Debt/equity ratio
0,12:1
0,11:1
0,01:1
0,02:1
0,07:1
0,02:1
Current ratio
1,5:1
1,5:1
1,6:1
1,4:1
1,5:1
1,5:1
EBITDA margin
3,8%
3,1%
1,1%
1,1%
1,0%
4,5%
Operating profit margin
3,2%
2,6%
0,6%
0,0%
(0,3%)
3,4%
Interest cover
5,2
6,0
1,6
0,1
—
3,8
Percentage change in SA Consumer Price
Index
4,6
3,4
1,4
5,8
9,2
5,7
Stock exchange performance
Total number of shares traded (‘000)
94 326
74 667
54 950
58 790
9 0719
130 566
Total number of shares traded as a percentage
of total shares
60,7%
51,0%
39,7%
42,6%
65,9%
95,0%
Total value of shares traded (R’m)
2 725
1 202
477
484
1 027
2 199
Prices (SA cents)
Closing
3 360
2 200
959
1 480
500
1 650
High
3 675
2 350
1 515
1 750
1 850
2 500
Low
2 125
867
840
370
470
880
Market capitalisation (R’m)
5 208
3 220
1 328
2 042
689
2 267
P:E ratio
17
22
20
(17)
4
5
Shares issued
Issued (million)
155
146
138
138
138
137
Weighted average (million)
150
142
138
138
138
131
Employees
Number of employees
3 084
2 440
2 232
2 389
3 202
3 023
Average number of employees
2 954
2 336
2 311
2 796
3 113
3 427
Operating profit per employee ($’000)
34
30
3
(5)
(10)
1
Gross assets per employee ($’000)
451
468
439
410
278
290
Exchange rates
Rand/$ income statement translation rate
7,0
6,4
6,2
7,2
9,7
9,6
Rand/$ balance sheet translation rate
7,2
6,2
5,8
6,6
8,1
11,4
Notes: * 2003 represents an eleven-month period for all Group companies other than Westcon, which is included for a twelve-month period.
Revenue in years 2002 to 2006 has been restated to consider the effect of the change in accounting for the sale of vendor maintenance contracts. This change is more fully explained in Note1 of the annual financial statements on page 100.
Net tangible asset value per share is calculated on net asset value exclusive of intangible assets and capitalised development costs and the number of shares in issue at the end of the financial period.
2005 and 2004 numbers have been restated in accordance with IFRS. Years prior to 2004 are presented under the previously applicable SA GAAP.
Detailed segmental information is set out in note 33 of the annual financial statements on pages120 to123.
Return on total assets is calculated utilising operating profit.
Return on capital employed is calculated utilising profi t before goodwill adjustment/impairment and total shareholders’ funds and non-current liabilities.
Return on ordinary shareholders’ funds is calculated utilising profit before goodwill adjustment/impairment and after net finance costs.
Debt includes all long-term liabilities including amounts due to vendors of a long-term nature.
The SA Consumer Price Index is sourced from The Standard Bank of South Africa Limited.
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