SUMMARISED CONSOLIDATED STATEMENT OF FINANCIAL PERFORMANCE

for the year ended 30 June 2017

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R millions Audited 
Annual 
30 June 
2017 
  Audited4
Annual 
30 June 
2016 
 
Continuing operations        
Revenue  21 397     26 148    
– Continuing operations excluding Middle East  20 789     24 445    
– Middle East  608     1 703    
Profit before interest, depreciation and amortisation  963     1 774    
Depreciation  (431)    (448)   
Amortisation of intangible assets  (45)    (51)   
Profit before interest and taxation (note 2) 487     1 275    
– Continuing operations excluding Middle East  1 055     1 343    
– Middle East  (568)    (68)   
Net interest expense  (42)    (71)   
Profit before taxation  445     1 204    
Taxation  (161)    (296)   
Profit after taxation  284     908    
Income from equity accounted investments     18    
Profit from continuing operations  291     926    
Loss from discontinued operations (note 3) (253)    (136)   
Profit for the year  38     790    
Attributable to:             
– Owners of Murray & Roberts Holdings Limited  48     753    
– Non-controlling interests  (10)    37    
   38     790    
Earnings per share from continuing and discontinued operations (cents)            
– Diluted  12     182    
– Basic  12     189    
Earnings per share from continuing operations (cents)            
– Diluted  74     215    
– Basic  76     223    
Supplementary statement of financial performance information             
Net asset value per share (Rands) 15     16    
Dividends per share (cents) 45     45    
Number of ordinary shares in issue (’000) 444 736     444 736    
Reconciliation of weighted average number of shares in issue (’000)            
Weighted average number of ordinary shares in issue  444 736     444 736    
Less: Weighted average number of shares held by The Murray & Roberts Trust  (30)    (30)   
Less: Weighted average number of shares held by the Letsema BBBEE trusts  (31 697)    (31 711)   
Less: Weighted average number of shares held by the subsidiary companies  (15 373)    (14 341)   
Weighted average number of shares used for basic per share calculation  397 636     398 654    
Add: Dilutive adjustment  8 013     13 865    
Weighted average number of shares used for diluted per share calculation  405 649     412 519    
Earnings per share from continuing operations (cents)            
– Diluted  74     215    
– Adjusted diluted earnings per share excluding Middle East  214     234    
– Diluted earnings per share contributed by Middle East  (140)    (19)   
– Basic  76     223    
– Adjusted basic earnings per share excluding Middle East  218     242    
– Basic earnings per share contributed by Middle East  (142)    (19)   
Headline earnings per share from continuing and discontinued operations (cents) (note 4)            
– Diluted  26     153    
– Basic  27     158    
Headline earnings per share from continuing operations (cents) (note 4)            
– Diluted  72     178    
– Adjusted diluted headline earnings per share excluding Middle East  212     197    
– Diluted headline earnings per share contributed by Middle East  (140)    (19)   
– Basic  74     185    
– Adjusted basic headline earnings per share excluding Middle East  216     204   
– Basic headline earnings per share contributed by Middle East (142)   (19)  
4 A 38% investment in Forum SA Trading 284 (Pty) Ltd (Property development) was not included in the sale of the Southern African Infrastructure & Building businesses and has therefore been reclassified from discontinued operations in the prior year and included as income from continuing operations for all periods presented.