Reconciliation of headline earnings with net earnings

International Financial Reporting Standards Basis

Figures are in millions unless otherwise stated

    SOUTH AFRICAN RAND  
    Quarter       Year to date  
    June
2011
  March
2011
  June
2010
  June
2011
  June
2010
 
  Net earnings 1,266.8   1,100.4   899.9   2,367.2   1,215.6  
  Profit on sale of investments -   -   (63.8)   -   (88.2)  
  Taxation effect on sale of investments -   -   6.9   -   6.9  
  Loss/(profit) on sale of assets 2.4   1.3   (0.5)   3.7   (1.4)  
  Taxation effect on sale of assets (0.3)   (0.3)   -   (0.6)   0.3  
  Impairment of investments 1.2   -   196.6   1.2   197.9  
  Headline earnings 1,270.1   1,101.4   1,039.1   2,371.5   1,331.1  
  Headline earnings per share – cents 176   153   147   329   189  
  Based on headline earnings as given above divided by 721,981,479 (March 2011 – 720,785,806 and June 2010 – 705,826,038) being the weighted average number of ordinary shares in issue.