| Notes |
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| 1. |
Accounting Policies and Basis of Preparation |
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The principal policies used in the preparation of the reviewed results for the period ended 31 December 2008 are consistent with those applied in the
Annual Financial Statements for the year ended 31 December 2007 and for the results for the six months ended 30 June 2008 in terms of International
Financial Reporting Standards, including IAS34, except for the adoption of IFRIC 11 by the Group which does not affect the results. |
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Year ended |
Year ended |
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31 December |
31 December |
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2008 |
2007 |
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Rand thousands |
(Reviewed) |
(Audited) |
% Change |
| 2. |
Financial Highlights |
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Net profit attributable to members of the Company |
210,457 |
289,860 |
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Adjusted for: |
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Less gains on disposal of plant and equipment |
(2,542) |
(1,405) |
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Less gains on disposal of land and buildings |
– |
(2,498) |
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Less gains on disposal of available-for-sale financial assets |
(77,292) |
(92,013) |
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Add tax effect |
10,778 |
9,552 |
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Headline earnings |
141,401 |
203,496 |
(30.5) |
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Headline earnings per share (cents) |
1,161.0 |
1,670.8 |
(30.5) |
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Earnings per share (cents) |
1,728.0 |
2,379.9 |
(27.4) |
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Ordinary dividends declared per share (cents) |
400 |
700 |
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Dividends paid per share (cents) |
700 |
690 |
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Number of shares in issue |
12,179,500 |
12,179,500 |
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Net asset value per share (cents) |
15,218 |
15,601 |
(2.5) |
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Solvency margin (%) |
42.6 |
53.2 |
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Combined ratio (%) |
101.5 |
97.5 |
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Return on average equity (%) |
11.2 |
15.8 |
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| 3. |
Segmental Information |
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