Headline earnings and normalised earnings per share information

for the six months ended 31 December 2019

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Normalised earnings per share

Normalised earnings per share is calculated by dividing the net profit attributable to owners of Motus adjusting for the once-off effects of the share-based equity costs that have no cash flow effect by the weighted average number of ordinary shares in issue during the year. Normalised headline earnings per share is calculated by dividing the headline earnings adjusting for the once-off effects of the share-based equity costs that have no cash flow effect by the weighted average number of ordinary shares.

  
change 
Unaudited 
31 December 
2019 
Rm 
   Unaudited 
31 December 
20181
Rm 
Audited 
30 June 
2019 
Rm 
  
Headline earnings reconciliation                   
Earnings  895     871  1 868    
Profit on disposal of property, plant and equipment (IAS 16)    (15)    (25) (41)   
Loss on the disposal of intangible assets (IAS 38)    –     13  13    
Impairment of property, plant and equipment (IAS 36)    15     (2) 23    
Impairment of assets classified held for sale     –     –  10    
Impairment of intangible assets (IAS 38)       –  –    
Impairment of goodwill (IAS 36)    68     31  37    
Impairment of investments in associates and joint ventures (IAS 28)    (5)    56  72    
Profit on disposal of subsidiaries and businesses and other (IFRS 10)    –     –  (3)   
Remeasurements included in share of results of associates        –  –    
Tax effects of remeasurements        (2)   
Non-controlling interests’ share of remeasurements     –     –    
Headline earnings1     967     947  1 977    
Issue of shares at a discount to a broad-based black economic empowerment partner (Ukhamba) and modification of share appreciation rights     –     160  160    
Normalised earnings     895     1 031  2 028    
Normalised headline earnings     967     1 107  2 137    
Normalised earnings per share (cents)    479     516  1 035    
Headline earnings per share (cents)1                   
Total operations                   
Basic  517     474  1 009    
Diluted  504     462  984    
Normalised  (7) 517     554  1 090    
Additional information                   
Net asset value per share (cents) 6 221     6 145  6 185    
Tangible net asset value per ordinary share (cents) –  5 504     5 503  5 522    
Number of ordinary shares in issue (million)                  
Total shares     196     202  197    
Net of shares repurchased     191     198  192    
Weighted average for basic     187     200  196    
Weighted average for diluted     192     205  201    
1 The headline earnings and headline earnings per share for the six months ended 31 December 2018 has been restated to include the derecognition of loans on deregistration of subsidiaries (R36 million), this is to align the treatment with that of the annual financial statements as at 30 June 2019.