| NOTES TO THE FINANCIAL STATEMENTS |
|
|
| for the year ended 31 December 2007 |
|
|
| |
2007 |
2006 |
| |
cents |
cents |
| 1. |
EARNINGS PER SHARE
|
|
|
| |
Basic earnings per share: |
|
|
| |
Headline earnings |
225,7 |
310,4 |
| |
Profit attributable to shareholders’ fund |
256,6 |
315,2 |
| |
|
|
|
| |
Diluted earnings per share: |
|
|
| |
Headline earnings |
220,8 |
304,9 |
| |
Profit attributable to shareholders’ fund |
251,0 |
309,6 |
| |
|
R million |
R million |
| |
Analysis of earnings: |
|
|
| |
Profit attributable to shareholders |
5 494 |
6 945 |
| |
Less: Net profit on disposal of subsidiaries |
(44) |
(122) |
| |
Less: Net profit on disposal of associates |
(624) |
(10) |
| |
Less: Equity-accounted non-headline earnings |
– |
(5) |
| |
Plus: Impairment of investments and goodwill |
7 |
30 |
| |
Headline earnings |
4 833 |
6 838 |
| |
|
|
|
| |
|
million |
million |
| |
Number of shares: |
|
|
| |
Number of ordinary shares in issue at beginning of period |
2 303,6 |
2 408,6 |
| |
Less: Weighted average number of shares cancelled |
|
(43,8) |
| |
Less: Weighted average Sanlam shares held by |
|
|
| |
subsidiaries (including policyholders) |
(162,3) |
(161,7) |
| |
Weighted average number of shares for basic earnings per share |
2 141,3 |
2 203,1 |
| |
Add: Weighted conversion of deferred shares |
12,1 |
6,8 |
| |
Add: Total number of shares and options |
43,3 |
63,1 |
| |
Less: Number of shares (under option) that |
|
|
| |
would have been issued at fair value |
(7,3) |
(29,9) |
| |
Weighted average number of shares for diluted earnings per share |
2 189,4 |
2 243,1 |
| |
|
|
|
| 2. |
SEGMENTAL INFORMATION |
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|
| |
|
2007 |
2006 |
| |
|
R million |
R million |
| |
Segment revenue |
25 026 |
22 333 |
| |
Sanlam Personal Finance |
6 457 |
5 829 |
| |
Sanlam Developing Markets |
2 817 |
2 466 |
| |
Sanlam Employee Benefits |
1 796 |
1 744 |
| |
Short-term Insurance |
11 035 |
9 902 |
| |
Investment Management |
2 562 |
1 996 |
| |
Sanlam Capital Markets |
283 |
370 |
| |
Independent Financial Services |
14 |
28 |
| |
Corporate and other |
62 |
(2) |
| |
IFRS adjustments |
1 689 |
1 276 |
| |
Total segment revenue |
26 715 |
23 609 |
| |
|
|
|
| |
Segment result |
8 444 |
9 957 |
| |
Sanlam Personal Finance |
7 426 |
7 142 |
| |
Sanlam Developing Markets |
805 |
854 |
| |
Sanlam Employee Benefits |
966 |
1 458 |
| |
Short-term Insurance |
1 622 |
2 462 |
| |
Investment Management |
1 309 |
1 186 |
| |
Sanlam Capital Markets |
122 |
151 |
| |
Independent Financial Services |
39 |
110 |
| |
Corporate and other |
(3 845) |
(3 406) |
| |
IFRS adjustments |
(346) |
59 |
| |
Policyholder activities |
774 |
1 129 |
| |
Total segment result |
8 872 |
11 145 |
| |
|
|
|
3. |
CONTINGENT LIABILITIES |
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|
| |
Shareholders are referred to the contingent liabilities disclosed in the 2006 annual report. The circumstances surrounding these contingent liabilities remained materially unchanged. |
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| 4. |
SUBSEQUENT EVENTS |
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| |
No material facts or circumstances have arisen between the dates of the balance sheet and this report which affect the financial position of the Sanlam Limited group as reflected in these financial statements. |
