ACU LIVE:
OPN 0
/ BID 0
/ OFF. 0
/ MOV. 0
/ VOL 0
/ DIV. YLD 0
/ LST TRADE VOL 0
/ VAL. 0
/ AVG. PRICE 0
Interim Results September 2011
| 6 months ended 30-Sep-11 Unaudited R'000 | Year ended 31-Mar-11 Audited R'000 | 6 month ended 30-Sep-10 Unaudited R'000 | |
|---|---|---|---|
| Revenue | 317 594 | 624 298 | 294 696 |
| - Contractual | 320 345 | 636 827 | 288 022 |
| - Straight lining | (2 751) | (12 529) | (6 674) |
| Net operating expenses | (24 440) | (64 616) | (20 423) |
| Loss on sale of properties | (1 310) | (205) | (200) |
| Loss on sale of jointly controlled entity | - | (948) | (948) |
| Amortisation of intangible assets | (12 780) | (25 151) | (12 371) |
| Profit before fair value adjustments, interest and taxation | 279 064 | 533 378 | 260 754 |
| Fair value adjustment to investment properties | 3 222 | 524 940 | (6 474) |
| Fair value adjustment to BEE instrument | (32 252) | (7 495) | (18 189) |
| Fair value adjustment to government bonds | (19 188) | 3 927 | (18 564) |
| Profit before interest and taxation | 230 846 | 1 054 750 | 217 527 |
| Interest income | 52 600 | 134 001 | 53 023 |
| Interest expense | |||
| - Debenture holders - interim | (237 041) | (216 708) | (216 708) |
| - Debenture holders - final | - | (226 689) | - |
| - Financial institutions and other | (118 824) | (252 008) | (108 938) |
| (Loss)/ profit before taxation | (72 419) | 493 346 | (55 096) |
| Taxation | 4 302 | (65 765) | (3 688) |
| (Loss)/ profit for the period | (68 117) | 427 581 | (58 784) |
| Other comprehensive income/ (expense) | |||
| Net change in fair value of listed investments, net of taxation | 31 090 | (51 826) | 181 |
| Net change in fair value of cash flow hedge recognised directly in equity net of taxation | (52 784) | (714) | (44 393) |
| Other comprehensive expense for the period, net of income tax | (21 694) | (52 540) | (44 212) |
| Total comprehensive income/ (expense) for the period | (89 811) | 375 041 | 102 996 |
| Reconciliation of (loss)/ profit for the period to headline loss | |||
| (Loss)/ profit for the period | (68 117) | 427 581 | (58 784) |
| Fair value adjustment to investment properties | (3 222) | (524 940) | 6 474 |
| Loss on disposal of investment properties | 1 310 | 205 | 200 |
| Tax effects | (117) | 71 430 | - |
| Headline loss - shares | (70 146) | (25 724) | (52 110) |
| Interest paid to debenture holders | 237 041 | 443 397 | 216 708 |
| Headline earnings - linked units | 166 895 | 417 673 | 164 598 |
| Cents | Cents | Cents | |
| Basic and diluted (loss)/ earnings per share | (41.67) | 272.64 | (38.45) |
| Headline earnings - linked unit | 102.11 | 266.32 | 107.65 |
| Interest Distribution per linked unit | 145.00 | 275.63 | 136.75 |
| - Interim | 145.00 | 136.75 | 136.75 |
| - Final | - | 138.88 | - |