FIVE YEAR REVIEW
| FINANCIAL STATISTICS | 12 months to | 15 months to | 12 months to | 12 months to | 12 months to | |
| 31 March | 31 March | 31 December | 31 December | 31 December | ||
| 2011 | 2010 | 2008 | 2007 | 2006 | ||
| Restated * | ||||||
| TRADING RESULTS (Rmillion) | ||||||
| Revenue | 9 681 | 11 136 | 7 106 | 6 395 | 5 110 | |
| Profit from operations | 1 338 | 1 691 | 1 132 | 838 | 726 | |
| Other net income | 268 | 1 996# | 40 | 3 012^ | 83 | |
| Operating profit | 1 606 | 3 687 | 1 172 | 3 850 | 809 | |
| Net financing (costs)/income | (472) | (452) | (280) | (119) | 88 | |
| Share of associate company’s (loss)/profit | (2) | 1 | (4) | |||
| Profit before tax | 1 132 | 3 236 | 892 | 3 731 | 893 | |
| Tax | (261) | (208) | (212) | (288) | (238) | |
| Minority shareholders | (38) | (130) | (31) | (28) | (1) | |
| Discontinued operation - Hulamin unbundling | 42 | 69 | ||||
| Net profit attributable to shareholders | 833 | 2 898 | 649 | 3 457 | 723 | |
| Headline earnings attributable to shareholders | 806 | 858 | 583 | 61 | 703 | |
| SOURCE OF CAPITAL (Rmillion) | ||||||
| Shareholders’ interest | 4 800 | 4 573 | 3 059 | 2 735 | 3 293 | |
| Minority interests in subsidiaries | 840 | 870 | 276 | 223 | 56 | |
| Equity | 5 640 | 5 443 | 3 335 | 2 958 | 3 349 | |
| Deferred tax | 1 365 | 1 272 | 582 | 673 | 605 | |
| Borrowings - long and short-term | 4 275 | 3 180 | 2 585 | 1 387 | 500 | |
| Non-recourse equity-settled BEE borrowings | 761 | 787 | 792 | 812 | ||
| Provisions | 510 | 546 | 279 | 261 | 247 | |
| Capital employed | 12 551 | 11 228 | 7 573 | 6 091 | 4 701 | |
| EMPLOYMENT OF CAPITAL (Rmillion) | ||||||
| Property, plant, equipment, investments and intangibles | 7 934 | 7 969 | 5 032 | 3 525 | 2 642 | |
| Growing crops | 2 608 | 2 041 | 742 | 353 | 212 | |
| Defined benefit pension fund asset | 294 | |||||
| Long-term receivable | 135 | 196 | 203 | 203 | ||
| Inventories, receivables and derivative instruments | 3 170 | 3 218 | 3 358 | 3 150 | 2 452 | |
| Cash and cash equivalents | 350 | 140 | 229 | 396 | 162 | |
| Total assets | 14 491 | 13 368 | 9 557 | 7 627 | 5 671 | |
| Current liabilities (excluding short-term borrowings) | 1 940 | 2 140 | 1 984 | 1 536 | 970 | |
| 12 551 | 11 228 | 7 573 | 6 091 | 4 701 | ||
| RATIOS AND STATISTICS | ||||||
| EARNINGS | ||||||
| Headline earnings per share - (cents) | 760,5 | 826,5 | 565,6 | 58,1 | 666,4 | |
| Dividends per share - (cents) | 250,0 | 275,0 | 310,0 | 310,0 | 550,0 | |
| Dividend cover - (times) | 3,0 | 3,0 | 1,8 | 0,2 | 1,2 | |
| PROFITABILITY | ||||||
| Operating margin | 13,8% | 15,2% | 15,9% | 13,1% | 14,2% | |
| Return on capital employed | 11,5% | 19,3% | 18,8% | 17,0% | 16,3% | |
| Return on equity | 14,5% | 19,5% | 18,5% | 1,9% | 21,2% | |
| FINANCE | ||||||
| Debt to equity | 75,8% | 58,4% | 77,5% | 46,9% | 14,9% | |
| Net debt to equity | 69,6% | 55,9% | 70,6% | 33,5% | 10,1% | |
| Current ratio | 0,72 | 0,80 | 1,07 | 1,41 | 1,25 | |
| SHARES | ||||||
| Shares in issue - (millions) - issued | 105 | 104 | 103 | 103 | 107 | |
| - weighted | 106 | 104 | 103 | 105 | 105 | |
| Market capitalisation | - Rmillion | 10 238 | 10 679 | 6 556 | 9 167 | 11 938 |
| Value of shares traded | - Rmillion | 3 173 | 12 490 | 1 609 | 4 218 | 3 512 |
| Net asset value per share | - (cents) | 4 571 | 4 410 | 2 963 | 2 655 | 3 089 |
| Share price - (cents) | - balance sheet date |
9 749 | 10 300 | 6 350 | 8 900 | 11 200 |
| - high | 11 000 | 10 628 | 10 250 | 15 000 | 11 400 | |
| - low | 9 300 | 6 260 | 4 900 | 8 500 | 7 800 | |
| Volume of shares traded | - (millions) | 34 | 138 | 21 | 36 | 37 |
| # | Other net income includes the gain of R1,969 billion arising on consolidation of the Zimbabwe subsidiaries during the period ended 31 March 2010. |
| ^ | Other net income includes the fair value adjustment of R3,348 billion relating to the investment in Hulamin prior to its unbundling in June 2007. |
| * | Comparative figures for 2006 have been restated to reflect Hulamin as a discontinued operation and the relevant ratios have been restated. |
