Download the PDF (5.4 MB) - Nedbank Group Limited

More documents

Recommendations

Info

312 NEDBANK GROUP Limited INTEGRATED REPORT 201018 DIRECT TAXATION18.1 Charge for the yearSA normal taxation:– Current charge 1 547 1 413– Capital gains taxation – deferred 23 35– Deferred taxation (271) (404)Foreign taxation 57 149Current and deferred taxation on income 1 356 1 193Prior-year (underprovision)/overprovision – current taxation (68) 112Prior-year overprovision/(underprovision) – deferred taxation 45 (139)Total taxation on income 1 333 1 166STC 33 66Taxation on non-trading and capital items (2) 751 364 1 3072010Rm2009Rm18.2 Taxation rate reconciliationStandard rate of SA normal taxation 28,0 28,0Non-taxable dividend income (4,9) (5,8)Capital items (1,0) (0,9)Structured deals (0,3) (2,0)STC 0,5 1,1Other (1,6) (0,2)Effective taxation rate 20,7 20,22010%2009%18.3 Future taxation reliefThe group has estimated taxation losses of R1 405 million (2009: R445 million) that can be set off against future taxable income, of whichR1 222 million (2009: R386 million) has been applied to the deferred taxation balance. Furthermore, the group has accumulated STC creditsamounting to R850 million at the year-end (2009: R542 million), which have arisen as a result of dividends received exceeding dividendspaid. A deferred taxation asset of R85 million (2009: R54 million) has been raised on these STC credits.
313Reports andcertificationsConsolidatedannual financialstatementsShareholdermeeting mattersDefinitions andabbreviationsInstrumentcodesContactdetailsnotes to the financial statements for the year ended 31 December 201019 EARNINGS19.1 Earnings per shareBasic earnings and headline earnings per share are calculated by dividing the relevant earnings amount by the weighted average number ofshares in issue. Diluted earnings and diluted headline earnings per share are calculated by dividing the relevant earnings by the weightedaverage number of shares in issue after taking the dilutive impact of potential ordinary shares to be issued into account.BasicHeadlineBasic Diluted Basic Diluted2010Profit attributable to equity holders ofthe parent (Rm) 4 811 4 811 4 811 4 811Adjusted for:– Non-trading and capital items (note 17) 91 91– Taxation on non-trading and capital items (note 18) (2) (2)Adjusted profit attributable to equity holdersof the parent (Rm) 4 811 4 811 4 900 4 900Weighted average number of ordinary shares 443 900 061 443 900 061 443 900 061 443 900 061Adjusted for:– Share schemes that have a dilutive effect 14 329 044 14 329 044Adjusted weighted average number ofordinary shares 443 900 061 458 229 105 443 900 061 458 229 105Earnings per share (cents) 1 084 1 050 1 104 1 0692009Profit attributable to equity holders ofthe parent (Rm) 4 826 4 826 4 826 4 826Adjusted for:– Non-trading and capital items (note 17) (624) (624)– Taxation on non-trading and capital items (note 18) 75 75Adjusted profit attributable to equity holdersof the parent (Rm) 4 826 4 826 4 277 4 277Weighted average number of ordinary shares 423 428 547 423 428 547 423 428 547 423 428 547Adjusted for:– Share schemes that have a dilutive effect 11 642 035 11 642 035Adjusted weighted average number ofordinary shares 423 428 547 435 070 582 423 428 547 435 070 582Earnings per share (cents) 1 140 1 109 1 010 983The diluted-earnings-per-share calculations are based on the group’s daily average share price of 13 160 cents (2009: 10 161 cents) andexclude the effect of certain share options granted under certain share option schemes as they would be anti-dilutive. The number of shareoptions not included in the weighted average number of shares (as they would have been anti-dilutive) is 2 million (2009: 13 million).19.2 Headline earnings reconciliation 2010 2009Gross Net of taxation Gross Net of taxationProfit attributable to equity holders of the parent 4 811 4 826Less: non-trading and capital items (91) (89) 624 549(Loss)/Profit on sale of subsidiaries, investments andproperty and equipment (4) (2) 20 13Revaluation on acquisition of joint ventures 615 547Net impairment of investments, property and equipmentand capitalised development costs (87) (87) (11) (11)Headline earnings 4 900 4 277
Page 2:
Dear shareholders and other stakeho
Page 5 and 6:
215Reports andcertificationsConsoli
Page 7 and 8:
Page 9 and 10:
Page 11 and 12:
Page 13 and 14:
Page 15 and 16:
Page 17 and 18:
Page 19 and 20:
Page 21 and 22:
Page 23 and 24:
Page 25 and 26:
Page 27 and 28:
Page 29 and 30:
Page 31 and 32:
Page 33 and 34:
Page 35 and 36:
Page 37 and 38:
Page 39 and 40:
Page 41 and 42:
Page 43 and 44:
Page 45 and 46:
Page 47:
Page 52 and 53: 262 NEDBANK GROUP Limited INTEGRATE
Page 152 and 153:
362 NEDBANK GROUP Limited INTEGRATE
Page 154 and 155:
Page 156 and 157:
Page 158 and 159:
Page 160 and 161:
Page 162 and 163:
Page 164 and 165:
Page 166 and 167:
Page 168 and 169:
Page 170 and 171:
Page 172 and 173:
Page 174 and 175:
Page 176 and 177:
Page 178 and 179:
Page 180 and 181:
Page 182 and 183:
Page 184 and 185:
Page 186 and 187:
Page 188 and 189:
Page 190 and 191:
Page 192 and 193:
Page 194 and 195:
Page 196:
show all

Download the PDF (5.4 MB) - Nedbank Group Limited

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?