Salient financial features

for the six months to 31 August 2020

US$'000 Unaudited
Six months
to 31 August
2020
  Unaudited
Six months
to 31 August
2019
  Audited
Year ended
29 February
2020
 
Headline and underlying* earnings
Headline earnings 3 168   4 931   12 491  
Headline earnings per share (US cents)
  Headline 1.6   2.3   5.9  
  Diluted headline 1.6   2.2   5.8  
Underlying* earnings 7 713   11 396   20 843  
Underlying* earnings per share (US cents)
  Underlying* 3.9   5.3   9.9  
  Diluted underlying* 3.9   5.2   9.7  
Net asset value
Net asset value per share (US cents) 287.9   288.7   288.3  
Key ratios
Gross margin (%) 16.0   17.5   17.2  
EBITDA margin (%) 3.0   3.4   3.7  
Effective tax rate (%) 64.8   54.0   54.4  
Exchange rates
Average Rand/US$ exchange rate 17.4   14.5   14.7  
Closing Rand/US$ exchange rate 16.6   15.2   15.6  
Number of shares issued (millions)
Issued 201   212   201  
Issued (excluding treasury shares and shares held by participants under deferred bonus plan) 199   209   198  
Weighted average 199   217   210  
Diluted weighted average 199   219   214  

Headline and underlying* earnings from discontinued operations in FY20 were US$nil.

 

The underlying* earnings measure is specific to Datatec and is not required in terms of International Financial Reporting Standards or the JSE Listings Requirements.

 
* Underlying earnings exclude impairments of goodwill and intangible assets, profit or loss on sale of investments and assets, amortisation of acquired intangible assets, unrealised foreign exchange movements, acquisition-related adjustments, fair value movements on acquisition-related financial instruments, restructuring costs relating to fundamental reorganisations and the taxation effect on all of the aforementioned.


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