Preliminary group results for the year ended 31 December 2004

Summarised income statement
 
The Directors announce the Group results for the year ended 31 December 2004.
Rand thousands
Note  
2004 
2003 
   
  
  
  
GROSS WRITTEN PREMIUM
3 191 143 
3 189 100  
Underwriting profit
5 
235 794 
127 703  
Investment income
6 
169 033 
152 772  
Investment expenses
(3 396)
(3 346) 
 
401 431 
277 129  
Net realised surplus on disposal of investments
70 105 
49 914  
Pension fund valuation adjustment
(10 000)
–  
PROFIT before taxation
461 536 
327 043  
Taxation
(109 214)
(81 968) 
PROFIT after taxation
352 322 
245 075  
Minority and cell shareholders’ interests
(24 388)
(21 156) 

– Minority interest
(2 318)
(2 034) 

– Cell shareholders’ interest
(22 070)
(19 122) 
 
Net profit attributable to members of the Company
327 934 
223 919  
 
 
 
 
HEADLINE EARNINGS PER SHARE (cents)
2 
2 140.8 
1 475.5  
EARNINGS PER SHARE (cents)
4 
2 692.5 
1 838.5  
PAID/DECLARED DIVIDENDS
650.0 
450.0  
     PER SHARE (cents)
SPECIAL DIVIDEND DECLARED
2300.0 
–  
     PER SHARE (cents)