Presenting continuing and discontinued operations
for the year ended 30 June 2017
The results of the Regent Insurance businesses, which were disposed on 30 June 2017, are presented in the summarised consolidated statement of profit or loss as discontinued operations. The following shows the combined result of the continued and discontinued operations after eliminating inter-group transactions.
% change |
Total operations 2017 Rm |
Continuing operations 2017 Rm |
Discontinued operations 2017 Rm |
Total operations 2016* Rm |
Continuing operations 2016* Rm |
Discontinued operations 2016* Rm |
||||||||
Revenue | 1 | 119 517 | 116 839 | 2 678 | 118 849 | 115 800 | 3 049 | |||||||
Net operating expenses | (110 450) | (108 261) | (2 189) | (109 908) | (107 293) | (2 615) | ||||||||
Profit from operations before depreciation and recoupments | 9 067 | 8 578 | 489 | 8 941 | 8 507 | 434 | ||||||||
Depreciation, amortisation, impairments and recoupments | (2 529) | (2 529) | (2 559) | (2 559) | ||||||||||
Operating profit | 2 | 6 538 | 6 049 | 489 | 6 382 | 5 948 | 434 | |||||||
Recoupment's from sale of properties, net of impairments | 212 | 212 | 28 | 28 | ||||||||||
Amortisation of intangible assets arising on business combinations | (521) | (521) | (437) | (437) | ||||||||||
Impairment of intangible assets arising on business combinations | (151) | (151) | ||||||||||||
Foreign exchange losses | (619) | (619) | (72) | (72) | ||||||||||
Other non-operating items | (408) | (357) | (51) | (46) | (30) | (16) | ||||||||
Profit before net finance costs | (9) | 5 202 | 4 764 | 438 | 5 704 | 5 286 | 418 | |||||||
Net finance costs | 17 | (1 680) | (1 680) | (1 440) | (1 440) | |||||||||
Profit before share of result of associates and joint ventures | 3 522 | 3 084 | 438 | 4 264 | 3 846 | 418 | ||||||||
Share of result of associates and joint ventures | 103 | 103 | 138 | 138 | ||||||||||
Profit before tax | (18) | 3 625 | 3 187 | 438 | 4 402 | 3 984 | 418 | |||||||
Income tax expense | (1 060) | (901) | (159) | (1 221) | (1 054) | (167) | ||||||||
Net profit for the year | (19) | 2 565 | 2 286 | 279 | 3 181 | 2 930 | 251 | |||||||
Net profit attributable to: | ||||||||||||||
Owners of Imperial | (13) | 2 601 | 2 373 | 228 | 2 997 | 2 802 | 195 | |||||||
Non-controlling interests | (36) | (87) | 51 | 184 | 128 | 56 | ||||||||
2 565 | 2 286 | 279 | 3 181 | 2 930 | 251 | |||||||||
Earnings per share (cents) | ||||||||||||||
– Basic | (14) | 1 339 | 1 221 | 118 | 1 554 | 1 453 | 101 | |||||||
– Diluted | (14) | 1 302 | 1 187 | 115 | 1 514 | 1 416 | 98 | |||||||
Headline earnings per share (cents) | ||||||||||||||
– Basic | (10) | 1 390 | 1 240 | 150 | 1 552 | 1 451 | 101 | |||||||
– Diluted | (11) | 1 351 | 1 205 | 146 | 1 512 | 1 414 | 98 | |||||||
Core earnings per share (cents) | ||||||||||||||
– Basic | (5) | 1 626 | 1 480 | 146 | 1 720 | 1 617 | 103 | |||||||
– Diluted | (6) | 1 581 | 1 439 | 142 | 1 675 | 1 575 | 100 | |||||||
The cash flows from discontinued operations were as follows: | 2017 Rm |
2016* Rm |
||||||||||||
Cash flows from operating activities | 151 | 352 | ||||||||||||
Cash flows from investing activities | 391 | 17 | ||||||||||||
Cash flows from financing activities | (46) | (1) |
* | Restated. Please refer to note 3. |