Determination of headline and underlying* earnings
for the year ended 29 February 2020
| US$'000 | Audited Year ended February 2020 |
Audited Year ended February 2019 |
||
|---|---|---|---|---|
| Reconciliation of attributable profit to headline earnings | ||||
| Profit attributable to the equity holders of the parent | 14 239 | 13 134 | ||
| Headline earnings adjustments | (1 789) | (11 375) | ||
| Profit on disposal of investment and discontinued operations | (1 747) | (11 439) | ||
| (Profit)/loss on disposal of property, plant and equipment | (65) | 93 | ||
| Tax effect | 23 | (29) | ||
| Non-controlling interests | 41 | (101) | ||
| Headline earnings | 12 491 | 1 658 | ||
| DETERMINATION OF UNDERLYING* EARNINGS | ||||
| Underlying* earnings adjustments | 8 416 | 15 587 | ||
| Unrealised foreign exchange losses/(gains) | 1 247 | (7 467) | ||
| Acquisition-related fair value adjustments | (696) | 35 | ||
| Restructuring costs | – | 17 506 | ||
| Amortisation of acquired intangible assets | 11 297 | 10 217 | ||
| Tax effect | (3 432) | (4 704) | ||
| Non-controlling interests | (64) | (1 517) | ||
| Underlying earnings | 20 843 | 15 728 |
The underlying* earnings metric 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. |