Imperial

The results of the Motus businesses are presented in the summarised consolidated statement of profit or loss as discontinued operations. The following shows the combined results of the continuing and the discontinued operations after eliminating inter-group transactions. Regent’s results for 2017 have been included as a single line item under discontinued operations.

	% change				Total operations	Continuing operations	Discontinued operations
R million	Total	Continuing	Discontinued		2018	2018	2018
Revenue	11	3	17		128 683	51 303	77 380
Net operating expenses					(119 842)	(47 408)	(72 434)
Profit from operations before depreciation and recoupments					8 841	3 895	4 946
Depreciation, amortisation, impairments and recoupments					(2 435)	(1 082)	(1 353)
Operating profit	6	3	9		6 406	2 813	3 593
Recoupments from sale of properties, net of impairments					639	22	617
Amortisation of intangible assets arising on business combinations					(432)	(417)	(15)
Foreign exchange losses					(93)	(50)	(43)
Other non-operating items					(358)	(113)	(245)
Profit before net finance costs					6 162	2 255	3 907
Net finance cost	(18)	(22)	(13)		(1 386)	(649)	(737)
Profit before share of results of associates and joint ventures					4 776	1 606	3 170
Share of results of associates and joint ventures					90	56	34
Profit before tax					4 866	1 662	3 204
Income tax expense					(1 458)	(566)	(892)
Net profit for the year	49	13	75		3 408	1 096	2 312
Net profit for the year – Regent
	33	13	45		3 408	1 096	2 312
Net profit attributable to:
Owners of Imperial					3 273	928	2 345
Non-controlling interests					135	168	(33)
					3 408	1 096	2 312
Earnings per share (cents)
Basic	26	16	30		1 681	477	1 204
– Excluding Regent	38	16	49		1 681	477	1 204
– Regent
Diluted	25	15	30		1 634	463	1 171
– Excluding Regent	38	15	49		1 634	463	1 171
– Regent
Headline earnings per share (cents)
Basic	13	43	2		1 570	543	1 027
– Excluding Regent	27	43	19		1 570	543	1 027
– Regent
Diluted	13	43	2		1 526	527	999
– Excluding Regent	27	43	19		1 526	527	999
– Regent

	Total operations	Continuing operations	Discontinued operations
R million	2017*	2017	2017
Revenue	115 889	49 635	66 254
Net operating expenses	(107 311)	(45 772)	(61 539)
Profit from operations before depreciation and recoupments	8 578	3 863	4 715
Depreciation, amortisation, impairments and recoupments	(2 529)	(1 124)	(1 405)
Operating profit	6 049	2 739	3 310
Recoupments from sale of properties, net of impairments	212	181	31
Amortisation of intangible assets arising on business combinations	(521)	(505)	(16)
Foreign exchange losses	(619)	(194)	(425)
Other non-operating items	(357)	(257)	(100)
Profit before net finance costs	4 764	1 964	2 800
Net finance cost	(1 680)	(831)	(849)
Profit before share of results of associates and joint ventures	3 084	1 133	1 951
Share of results of associates and joint ventures	103	61	42
Profit before tax	3 187	1 194	1 993
Income tax expense	(901)	(228)	(673)
Net profit for the year	2 286	966	1 320
Net profit for the year – Regent	279		279
	2 565	966	1 599
Net profit attributable to:
Owners of Imperial	2 601	802	1 799
Non-controlling interests	(36)	164	(200)
	2 565	966	1 599
Earnings per share (cents)
Basic	1 339	412	927
– Excluding Regent	1 221	412	809
– Regent	118		118
Diluted	1 302	401	901
– Excluding Regent	1 187	401	786
– Regent	115		115
Headline earnings per share (cents)
Basic	1 390	379	1 011
– Excluding Regent	1 240	379	861
– Regent	150		150
Diluted	1 351	368	983
– Excluding Regent	1 205	368	837
– Regent	146		146

*	Restated revenue and net operating expense, refer to note 3.1 on page 29.

The cash flows of the Motus businesses were as follows:

	2018		2017
Cash flows from operating activities	4 312		1 272
Cash flows from investing activities	(61)		(591)
Cash flows from financing activities	(3 623)		(273)