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Summary consolidated annual financial statements
Group income
statement
FOR THE YEAR ENDED 30 JUNE 2014
(R'000)
AUDITED
2014
2013
Restated*
Construction and related revenue
13 499 363
9 433 040
Revenue from goods and services supplied
1 810 803
1 585 899
Property sales and development fees
29 464
24 208
Revenue – continuing operations
15 339 630
11 043 147
Cost of material
(2 223 997)
(1 466 135)
Cost of subcontractors
(6 545 898)
(4 318 031)
Direct payroll cost
(3 410 224)
(2 456 915)
Other staff cost
(394 305)
(336 942)
Depreciation
(267 143)
(242 130)
Plant costs
(738 274)
(783 317)
Manufacturing distribution cost
(159 669)
(138 144)
Site administration costs
(654 952)
(415 091)
Other administration cost
(382 162)
(444 679)
Operating expenses before fair value adjustments
(14 776 624)
(10 601 384)
Operating profit before fair value adjustments
563 006
441 763
Fair value adjustment relating to investment in service concessions
83 840
86 482
Operating profit
646 846
528 245
Share of profit of associates
19 661
10 936
Share of profit of joint ventures
8 434
3 391
Finance cost – net
(2 134)
(1 485)
Finance cost
(66 497)
(55 373)
Finance income
64 363
53 888
Profit before taxation
672 807
541 087
Taxation
(230 268)
(205 677)
Profit after taxation from continuing operations
442 539
335 410
Loss for the year from discontinued operations
(3 007)
(47 796)
Profit for the year
439 532
287 614
Profit attributable to:
Equity shareholders of Group Five Limited
401 421
258 164
Non-controlling interest
38 111
29 450
439 532
287 614
Earnings per share – [Rand]
4,01
2,64
Fully diluted earnings per share – [Rand]
3,94
2,62
Earnings per share from continuing operations – [Rand]
4,04
3,13
Fully diluted earnings per share from continuing operations – [Rand]
3,97
3,11
* Restated for the adoption of IFRS 11 – Joint Arrangements and IAS 19 (Revised) – Employee Benefits.