Our performance in 2009 - Sappi

104
Group income statement in Rands convenience translation
for the year ended September 2009
Unaudited
ZAR million 2009 2008 2007
Sales 48,393 43,559 38,051
Cost of sales 45,329 37,266 32,936
Gross profit 3,064 6,293 5,115
Selling, general and administrative expenses 3,470 2,860 2,597
Other operating expenses (income) 351 1,226 (158)
Share of profit from associates and joint ventures (99) (126) (72)
Operating (loss) profit (658) 2,333 2,748
Net finance costs 1,307 937 962
Finance costs 1,785 1,345 1,241
Finance revenue (550) (282) (151)
Finance cost capitalised – (119) (100)
Net foreign exchange gains (153) (59) (93)
Net fair value loss on financial instruments 225 52 65
(Loss) profit before taxation (1,965) 1,396 1,786
Taxation (benefit) charge (370) 638 337
(Loss) profit for the year (1,595) 758 1,449
Basic weighted average number of ordinary shares in issue (millions) 482.6 362.2 360.6
Basic (loss) earnings per share (SA cents) (333) 208 402
Diluted (loss) earnings per share (SA cents) (333) 208 395
Group statement of comprehensive income in Rands
convenience translation
for the year ended September 2009
Unaudited
ZAR million 2009 2008 2007
(Loss) profit for the year (1,595) 758 1,449
Other comprehensive income, net of tax (1,776) (1,902) 1,988
Exchange differences on translation of foreign operations 126 (1,947) 1,083
Actuarial (losses) gains on pension funds (2,064) 52 725
Pension fund assets recognised – – 323
Effect of cash flow hedges (126) – –
Deferred tax on other comprehensive income 288 (7) (143)
Total comprehensive income for the year (3,371) (1,144) 3,437
Note:
The above financial results have been translated into ZAR from US Dollars using the exchange rates as set out in accounting policies note 2.2.1. The year end rate was used
for translating assets and liabilities and the average rate for translating income, expenditure and cash flow items except for dividends which have been translated at the rate
of exchange on the date of declaration. The translation was made solely for the convenience of the readers and is not defined in IAS 21. It should be noted that the translated
ZAR figures from US Dollars do not necessarily represent that these US Dollar amounts could be converted into ZAR at the time when the transaction occurred.