SPUR CORP. LIMITED INTERIM RESULTS 2015

Reconciliation of

Headline Earnings

R’000  Unaudited 
six months 
ended 
31 December 
2014 
Unaudited 
six months 
ended 
31 December 
2013 

change 
Audited 
year ended 
30 June 
 2014 
Profit attributable to ordinary shareholders  54 937  72 777  (24.5) 136 331 
Headline earnings adjustments:         
Impairment of property, plant and equipment (refer note 12) –  –    2 313 
Impairment of intangible assets (refer note 11) –  –    1 866 
Bargain purchase gain  –  (45)   – 
(Profit)/loss on disposal of property, plant and equipment (net of tax) (32) 172    233 
Profit on disposal of subsidiary (refer notes 4 and 8) (372) –    (2 154)
Reclassification of foreign currency gain from other comprehensive income to profit or loss on abandonment/deregistration of foreign operations (refer note 10) –  –    (3 386)
Headline earnings  54 533  72 904  (25.2) 135 203 

None of the above items has any tax or non-controlling interest consequences, with the exception of:

  • Gross impairment of property, plant and equipment comprises R2.496 million for the year ended 30 June 2014, with an amount of R0.183 million attributable to non-controlling interest.
  • (Profit)/loss on disposal of property, plant and equipment comprises a profit of R0.045 million for the period (2013: R0.302 million loss; year ended 30 June 2014: R0.444 million loss) adjusted for tax of R0.013 million (2013: R0.130 million; year ended 30 June 2014: R0.211 million).
  • Profit on disposal of subsidiary comprises a gross profit of R1.506 million for the period (2013: Rnil; year ended 30 June 2014: R2.154 million) adjusted for tax of R1.134 million.