Full integrated annual report - African Bank - Investoreports

African Bank Investments Limited
Condensed group income statement
for the year ended 30 September 2011
R million % change 2011 2010
Gross margin on retail business 6 2 083 1 974
Interest income on advances 23 7 308 5 950
Assurance income 28 2 962 2 309
Non-interest income 18 2 930 2 491
Income from operations 20 15 283 12 724
Charge for bad and doubtful advances 34 (3 596) (2 693)
Claims paid (2) (612) (626)
Risk-adjusted income from operations 18 11 075 9 405
Product insurance claims (18) (68) (83)
Other interest and investment income (13) 339 390
Interest expense 20 (2 850) (2 383)
Operating costs 10 (4 931) (4 481)
Indirect taxation: VAT >100 (67) (20)
Profit from operations 24 3 498 2 828
Capital items (97) 1 34
Profit before taxation 22 3 499 2 862
Direct taxation: STC 3 (151) (147)
Direct taxation: Normal 26 (977) (773)
Profit for the year 22 2 371 1 942
Reconciliation of headline earnings and per share statistics
R million % change 2011 2010
Profit for the year (basic earnings) 22 2 371 1 942
Preference shareholders (11) (32) (36)
Basic earnings attributable to ordinary shareholders
Adjustments for non-headline items:
23 2 339 1 906
Capital items (100) 0 (19)
Tax thereon (100) 0 3
Headline earnings 24 2 339 1 890
Number of shares in issue (net of treasury) (million) 803,7 803,7
Weighted number of shares in issue (million) 803,7 803,7
Fully diluted number of shares in issue (million) 803,8 803,8
Basic earnings per share (cents) 23 291,0 237,2
Fully diluted basic earnings per share (cents) 23 291,0 237,1
Headline earnings per share (cents) 24 291,0 235,2
Fully diluted headline earnings per share (cents) 24 291,0 235,1
Integrated report 2011 | African Bank Investments Limited
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