Integrated
Report

2019

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Reconciliation of profit for the year to distributable earnings

Audited 
30 June 
2019 
R'000
 
Restated 
Audited 
30 June
2018 
R'000 
  
(Loss) profit for the year attributable to Attacq's shareholders  (602 588) 2 703 280    
Profit on disposal of subsidiary  –  (5 633)   
Loss on disposal of other investments  –  2 612    
Profit on disposal of investment property  (11 095) (14 947)   
Profit on disposal of investment in associate  (14 547) –    
Impairment of associates, other investments and loans  550 967  51 197    
Impairment of wi-fi rights, intangible asset  61 871    
Realisation of available-for-sale financial assets  –  (35 750)   
Fair value adjustments  801 735  (420 886)   
Net income from associates and joint ventures  (124 770) (78 092)   
Straight-line lease income adjustments  (197 124) (88 467)   
Adjustment for net non-cash interest from associates  (114 193) (128 279)   
Net cash interest received from associates  89 514  42 425    
Depreciation and amortisation  37 026  39 764    
Unrealised foreign currency translation effect  (31 667) 50 698    
Dividends received from associates  191 045  166 723    
Edcon restructure  (4 129) –    
Write-off of other receivable  –  47 972    
Movement in provision  –  3 943    
Deferred taxation  32 061  (1 769 383)   
Distributable earnings for the year  664 106  567 177    
Number of shares in issue*  703 495 224  703 155 224    
Weighted average number of shares in issue*  703 311 279  702 989 909    
Distributable earnings per share (cents)
   Basic  94,4  80,7    
Dividends (R'000) 573 308  520 335    
   Interim  284 875  –    
   Final  288 433  520 335    
Dividend per share (cents) 81.5  74.0    
   Interim  40.5  –    
   Final  41.0  74.0    
* Adjusted for 46 427 553 treasury shares.