Integrated Annual Report 2019

Summarised consolidated income statement

for the year ended 30 June 2019

   Note      2019 
R'000 
      2018 
R'000 
Revenue        8 140 469        7 804 737 
Turnover        6 301 572        6 305 587 
Cost of sales        (5 369 083)       (4 800 780)
Gross profit        932 489        1 504 807 
Add: Other income                 
Commissions on sales and technical fees        1 262 429        979 005 
Foreign exchange gains        40 971        59 827 
Dividend income        55 462        17 778*
Interest income#        557 437        502 368*
Profit on sale of available-for-sale listed investments        –        42 432 
Other income        3 398        26 159 
Less: Other expenses                 
Finance costs        (55 302)       (19 394)
Foreign exchange losses        (200)       (6 896)
Mining royalty taxes        (67 909)       (138 938)
Impairment of furniture, fittings and office equipment        –        (9 519)
Impairment of non financial assets        –        (21 564)
Staff remuneration and benefits        (368 518)       (375 672)
Other expenses        (279 648)       (247 921)
Profit before taxation        2 080 609        2 312 472 
Taxation        (629 756)       (645 546)
Profit after taxation, before joint-venture entity and associates        1 450 853        1 666 926 
Share of profit from joint-venture entity, after taxation  1      4 536 396        3 524 287 
Share of losses in associates        (23 317)       (16 211)
Profit for the year        5 963 932        5 175 002 
Attributable to:                 
Shareholders of the holding company        5 932 037        5 119 329 
Non-controlling shareholders' share of profits in subsidiary companies        31 895        55 673 
As above        5 963 932        5 175 002 
Earnings per share (cents) (basic and diluted) 2      5 751        4 963 
# Based on effective interest rates
* These balances, disclosed as investment income in the prior year were disaggregated into dividend income and interest income to comply with amendments to IAS 1: Presentation of Financial Statements, which became effective during the current financial year.