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In order to provide a better appreciation of the results of the group's activities, condensed income statements and balance sheets are also presented in US dollars, as virtually all of the group's revenue and assets and much of its expenditure are denominated in that currency. The amounts stated in US dollars have been prepared by management, are unaudited and have not been reviewed by the company's auditors.
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UNAUDITED | |
| US$ MILLION | | |
2004 | |
2003 | | |
| Revenue | | | 243,1 | | 192,8 | | |
| Trading profit before items listed below: | | | 86,4 | | 66,5 | | |
| | | | | | | |
| Continuing operations | | | 86,4 | | 68,3 | | |
| Discontinuing operations | | | - | | (1,8) | | |
| | | | | | | |
| Exchange losses arising on translation | | | (12,0) | | (15,0) | | |
| Net long-term receivable
valuation adjustment | | | 25,0 | | - | | |
| Change in discount rate relating to amount attributable to third parties in respect of
long-term receivables | | | (6,0) | | - | | |
| Goodwill amortisation | -
subsidiary | | | (0,3) | | (0,3) | | |
| Impairment of
goodwill | | | (0,7) | | (0,1) | | |
| Discontinuing operations | | | 1,1 | | 0,2 | | |
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| Profit
from operating activities | | | 93,5 | | 51,3 | | |
| Net interest expense | -
Textainer | | | (23,0) | | (22,5) | | |
| -
Other | | | (16,1) | | (10,6) | | |
| Share
of profit of associate company | | | 0,4 | | 0,7 | | |
| Exceptional items | | | (5,1) | | 9,9 | | |
|
| Profit
before taxation | | | 49,7 | | 28,8 | | |
| Income tax expense | | | 6,0 | | (2,8) | | |
| Continuing operations | | | 4,9 | | (2,3) | | |
|
Discontinuing operations | | | 1,1 | | (0,5) | | |
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| Profit
after taxation | | | 43,7 | | 31,6 | | |
| Minority interest | | | (17,6) | | (15,1) | | |
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| Net
profit for the year | | | 26,1 | | 16,5 | | |
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| Number of shares in issue (million) | | | 154,0 | | 153,6 | | |
| Weighted average number of shares in issue (million) | | | 153,8 | | 153,2 | | |
| Undiluted earnings per share (US cents) | | | 17,0 | | 10,8 | | |
| Diluted earnings per share (US cents) | | | 14,1 | | 9,3 | | |
| Headline earnings per share (US cents) | | | 20,1 | | 5,6 | | |
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| Year-end rate of exchange: SA rand to US dollar | | | 5,61 | | 6,62 | | |
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| Trading
profit from continuing operations comprises: | | | | | | | |
| Textainer | | | 84,7 | | 63,0 | | |
| TrenStar | | | (1,1) | | (1,7) | | |
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Other | | | 2,8 | | 7,0 | | |
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| | | 86,4 | | 68,3 | | |
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