PROFURN HEADLINE EARNINGS PER SHARE STATEMENT
In response to questions raised by shareholders, Profurn would like to point
out that the headline earnings per share ("HEPS") figure of 12,8 cents
presented in the audited financial results announcement published on
11 March 2002 was presented as a measure of trading performance for the
year, and was not calculated in accordance with generally accepted
accounting practice. It excluded capital items, and items related to the
rationalisation of the group and the change to a more conservative basis of
accounting.
Headline earnings calculated on the basis of excluding items of a capital
nature, in terms of AC306, would be determined as follows:
2001 2000
R000s R000s
Net (loss)/profit (486 138) 509 632
Capital items:
Termination of joint ventures 123 798 -
Amortisation of goodwill 224 448
Headline earnings (362 116) 510 080
Headline earnings per share (cents) (31,7) 45,7
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