condensed consolidated segmental analysis

for the year ended 30 June 2011

			Audited
(R’000)		% change	2011	2010
Revenue
Investments and Concessions		(6)	554 659	591 871
– Infrastructure Concessions		(6)	522 870	557 227
– Property Developments		(8)	31 789	34 644
Manufacturing		–	867 523	866 221
Construction Materials		(12)	434 233	491 860
Construction		(22)	7 350 583	9 387 636
– Building and Housing		(33)	2 143 004	3 186 142
– Civil Engineering		(25)	3 548 361	4 713 487
– Engineering		12	1 659 218	1 488 007

Total revenue		(19)	9 206 998	11 337 588
	2011
	Core
(R’000)	margin %	% change
OPERATING PROFIT
Investments and Concessions	11.3	(18)	62 624	75 928
– Infrastructure Concessions	14.0	(13)	73 176	83 974
– Property Developments	(33.2)	(31)	(10 552)	(8 046)
Manufacturing	3.0	(68)	26 342	82 300
Construction Materials	(15.7)	(487)	(68 157)	17 624
Construction	6.5	(26)	480 318	649 967
– Building and Housing	6.4	(38)	136 900	220 022
– Civil Engineering	6.5	(20)	231 904	290 001
– Engineering	6.7	(20)	111 514	139 944

Total core operating profit	5.4	(39)	501 127	825 819
Adjustment for non-operational transactions
Pension fund valuation (deficit)/surplus			(2 000)	55 161
Loss on sale of subsidiary			(299)	(4 085)
Total operating profit before fair value and impairment adjustments			498 828	876 895