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Performance of group
Normalised earnings
The Group believes that normalised earnings more accurately reflect operational performance. Headline earnings are adjusted to take into account non-operational and accounting anomalies. These adjustments are consistent with those reported at 30 June 2008.
Computation of normalised earnings |
|
|
|
|
| for the year ended 30 June |
|
|
|
|
| |
|
2009 |
2008 |
% |
| |
Notes |
Rmillion |
Rmillion |
change |
| Headline earnings attributable to ordinary shareholders |
|
2 636 |
3 714 |
(29) |
| RMBH’s share of adjustments made by associates: |
|
|
|
|
| Treasury shares |
1 |
103 |
157 |
|
| IFRS 2 share based expenses |
|
(34) |
43 |
|
| |
|
|
|
|
| |
|
2 705 |
3 914 |
(31) |
| Adjustment for: |
|
|
|
|
| RMBH shares held by policyholders |
2 |
22 |
(48) |
|
| Group treasury shares |
3 |
(213) |
(290) |
|
| IFRS 2 share based expenses |
|
– |
1 |
|
| Normalised earnings attributable to ordinary shareholders |
|
2 514 |
3 577 |
(30) |
| Weighted average number of shares in issue (millions) |
|
1 209 |
1 202 |
|
| Normalised earnings per share (cents) |
|
207,9 |
297,5 |
(30) |
| Diluted normalised earnings per share (cents) |
|
207,9 |
297,5 |
(30) |
| Dividend cover (relative to normalised earnings) |
|
2,1 |
2,1 |
|
| |
|
|
|
|
Sources of normalised earnings |
|
|
|
|
| for the year ended 30 June |
|
|
|
|
| |
|
2009 |
2008 |
% |
| |
|
Rmillion |
Rmillion |
change |
| Normalised earnings from: |
|
|
|
|
| FirstRand |
|
2 057 |
3 103 |
(34) |
| Discovery |
|
315 |
161 |
|
| OUTsurance |
|
384 |
334 |
15 |
| RMB Structured Insurance |
|
60 |
72 |
(17) |
| |
|
|
|
|
| |
|
2 816 |
3 670 |
(23) |
| Other net income/(funding costs) |
|
(302) |
(93) |
(>100) |
| |
|
|
|
|
| Normalised earnings |
|
2 514 |
3 577 |
(30) |
