IN THIS SECTION

10 year financial review
Ratios and statistics
Responsibilities of the directors for annual financial statements
Independent auditor’s report
Report of directors
Consolidated statement of financial position
Consolidated statement of financial performance
Consolidated statement of comprehensive income
Consolidated statement of changes in equity
Consolidated statement of cash flows
Accounting policies
Notes to the consolidated financial statements
Murray & Roberts Holdings Limited Financial Statements
	Statement of financial position
	Statement of financial performance
	Statement of comprehensive income
	Statement of changes in equity
	Statement of cash flows
	Notes
Annexure 1 – Major operating subsidiaries and associate companies
Annexure 2 – Interest bearing borrowings
Annexure 3 – Group segmental report

10 Year Financial Review

30 June 2010

All monetary amounts are expressed					IFRS restated*
in millions of Rands	2010	2009	2008	2007	2006	2005
SUMMARISED STATEMENTS OF
FINANCIAL PERFORMANCE*
Revenue	31 962	32 684	25 752	17 207	10 719	9 764
Earnings before exceptional items
and interest	1 775	2 766	2 084	1 338	689	520
Exceptional items	101	8	145	(168)	(82)	11
Earnings before interest and taxation	1 876	2 774	2 229	1 170	607	531
Net interest (expense)/income**	(193)	(20)	39	(9)	(6)	(33)
Earnings before taxation	1 683	2 754	2 268	1 161	601	498
Taxation	(470)	(612)	(490)	(352)	(170)	(155)
Earnings after taxation	1 213	2 142	1 778	809	431	343
Income/(loss) from equity accounted
investments	14	2	9	(107)	1	78
Non-controlling interest	(131)	(320)	(349)	(94)	(49)	(30)
Profit from discontinued operations	2	194	276	94	129	72
Earnings attributable
to owners of the parent	1 098	2 018	1 714	702	512	463
SUMMARISED STATEMENTS OF
FINANCIAL POSITION
Non-current assets	5 268	5 464	4 835	3 953	3 389	2 547
Current assets	15 787	17 235	16 118	8 836	6 797	5 475
Goodwill	554	490	488	206	147	48
Deferred taxation assets	343	305	208	16	52	34
Total assets	21 952	23 494	21 649	13 011	10 385	8 104
Ordinary shareholders’ equity	6 203	5 581	4 865	3 637	3 086	3 067
Non-controlling interest	974	1 053	960	178	108	97
Total equity	7 177	6 634	5 825	3 815	3 194	3 164
Non-current liabilities	2 383	1 447	1 290	1 103	1 028	890
Current liabilities	12 392	15 413	14 534	8 093	6 163	4 050
Total equity and liabilities	21 952	23 494	21 649	13 011	10 385	8 104

All monetary amounts are expressed	SA GAAP
in millions of Rands	2004	2003	2002	2001
SUMMARISED STATEMENTS OF
FINANCIAL PERFORMANCE*
Revenue	8 424	10 111	9 027	8 535
Earnings before exceptional items
and interest	421	633	386	218
Exceptional items	(16)	(5)	(2)	(3)
Earnings before interest and taxation	405	628	384	215
Net interest (expense)/income**	10	(66)	71	(6)
Earnings before taxation	415	562	455	209
Taxation	(27)	(76)	(36)	(27)
Earnings after taxation	388	486	419	182
Income/(loss) from equity accounted
investments	114	97	90	71
Non-controlling interest	(25)	(9)	(4)	(1)
Profit from discontinued operations	–	–	–	–
Earnings attributable
to owners of the parent	477	574	505	252
SUMMARISED STATEMENTS OF
FINANCIAL POSITION
Non-current assets	2 422	2 082	2 007	1 761
Current assets	3 671	4 211	4 504	3 819
Goodwill	5	10	15	16
Deferred taxation assets	33	–	–	–
Total assets	6 131	6 303	6 526	5 596
Ordinary shareholders’ equity	2 603	2 485	2 648	1 982
Non-controlling interest	54	13	9	8
Total equity	2 657	2 498	2 657	1 990
Non-current liabilities	734	713	733	700
Current liabilities	2 740	3 092	3 136	2 906
Total equity and liabilities	6 131	6 303	6 526	5 596

*	IFRS restated numbers are only for continuing operations whereas SA GAAP numbers are for both continuing and discontinued operations.
**	Includes currency conversion effects on offshore treasury funds in 2002 and 2003.