INTERIM REPORT FOR THE SIX MONTHS ENDED 31 DECEMBER 2003 (UNAUDITED)
   
   
   
   
 
  ABRIDGED CONSOLIDATED INCOME STATEMENT
   
Unaudited
Six months
ended
Audited 
   
Fifteen months 
   
ended 
   
        31 December
30 Sep 
30 Jun 
     
2002
  
2001 
2002 
   
Company 
        
   
 and its 
Associated       
   
subsidiaries 
companies 
Total 
Total 
Total 
   
R million 
R million 
R million 
R million 
R million 
 
  Revenue
163 
163 
94 
274 
   
  Operating loss
(13)
(13)
(23)
(55)
  Net interest income
75 
75 
61 
156 
   
  Profit from operations
62 
62 
38 
101 
  Amortisation of
     goodwill
(19)
(27)
(46)
(14)
(129)
  Impairment of
     goodwill
– 
– 
– 
(22)
(21)
  Impairment of assets
– 
(17)
(17)
(223)
(252)
   
  Equity adjustment:
     Share of net profit
     before taxation of
     associated companies
350 
350 
276 
832 
  Exceptional items
362 
* 
362 
(18)
(75)
   
  Profit before taxation
405 
306 
711 
37 
456 
  Taxation
(33)
(90)
(123)
(69)
(223)
   
  NET PROFIT/(LOSS)
372 
216 
588 
(32)
233 
   
             
  Reconciliation of
  headline earnings:
  BASIC EARNINGS –
     net profit/(loss)
372 
216 
588 
(32)
233 
  Plus/(minus) –
     attributable to own
     members:
     – Exceptional items
(362)
– 
(362)
16 
72 
     – Amortisation of
        goodwill
19 
27 
46 
14 
129 
     – Impairment of
        goodwill and
         assets
– 
17 
17 
245 
273 
     – Tax effect
13 
– 
13 
– 
* 
   
  HEADLINE EARNINGS
42 
260 
302 
243 
707 
   
             
  Reconciliation of pro
  forma headline earnings:
  HEADLINE EARNINGS –
     reported
42 
260 
302 
243 
707 
  Adjustment relating to e-tv
– 
– 
– 
(24)
(95)
   
  PRO FORMA HEADLINE
  EARNINGS **
42 
260 
302 
219 
612 
   
  * Amounts smaller than R500 000
  ** Refer to Annexure A, as well as note on "Proforma headline earnings" under comments.
   
   
 
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