Financial highlights
Six months to 31 December 2019
Revenue
R41 954 million
(2018: R39 379 million)

Operating profit
R1 831 million
(2018: R1 838 million)

Earnings per share
479 cents per share
(2018: 436 cents per share)

Cash generated by operations
R1 121 million
(2018: R382 million)

Return on invested capital*
12,6%
(2018: 14,3%)

Weighted average cost of capital*
10,3%
(2018: 10,8%)

Headline earnings
per share
517 cents per share
(2018: 474 cents per share)

Interim dividend
240 cents per share
(2018: 240 cents per share)

Strong
performance
in a challenging
environment
Net debt to EBITDA*
1,8 times
(2018: 1,5 times)

Net debt to equity*
73,6%
(2018: 63,4%)

Net asset value
per share
6 221 cents
per ordinary share
(2018: 6 145 cents per ordinary share)

Note: Return on invested capital and weighted average cost of capital are calculated on a rolling 12-month basis.
* Excludes the impact of IFRS 16.
REVENUE

OPERATING PROFIT