Our performance in 2009 - Sappi

100
Group income statement
for the year ended September 2009
US$ million Note 2009 2008 2007
Sales 5,369 5,863 5,304
Cost of sales 4 5,029 5,016 4,591
Gross profit 340 847 713
Selling, general and administrative expenses 4 385 385 362
Other operating expenses (income) 4 39 165 (22)
Share of profit from associates and joint ventures 13 (11) (17) (10)
Operating (loss) profit 4 (73) 314 383
Net finance costs 5 145 126 134
Finance costs 198 181 173
Finance revenue (61) (38) (21)
Finance cost capitalised – (16) (14)
Net foreign exchange gains (17) (8) (13)
Net fair value loss on financial instruments 25 7 9
(Loss) profit before taxation (218) 188 249
Taxation (benefit) charge 6 (41) 86 47
(Loss) profit for the year (177) 102 202
Basic weighted average number of ordinary
shares in issue (millions) 482.6 362.2 360.6
Basic (loss) earnings per share (US cents) 7 (37) 28 56
Diluted (loss) earnings per share (US cents) 7 (37) 28 55
Group statement of comprehensive income
for the year ended September 2009
US$ million Note 2009 2008 2007
(Loss) profit for the year (177) 102 202
Other comprehensive income, net of tax 18 (197) (256) 277
Exchange differences on translation of foreign operations 14 (262) 151
Actuarial (losses) gains on pension funds (229) 7 101
Pension fund assets recognised – – 45
Effect of cash flow hedges (14) – –
Deferred tax on other comprehensive income 32 (1) (20)
Total comprehensive income for the year (374) (154) 479