2. Salient financial features
for the six months to 31 August 2021
| US$'000 | Unaudited Six months to 31 August 2021 |
Unaudited Six months to 31 August 2020 |
Audited Year ended 28 February 2021 |
||
| HEADLINE AND UNDERLYING* EARNINGS | |||||
| HEADLINE EARNINGS | 12 569 | 3 168 | 3 556 | ||
| Headline earnings per share (US cents) | |||||
| Headline | 6.3 | 1.6 | 1.8 | ||
| Diluted headline | 6.2 | 1.6 | 1.7 | ||
| UNDERLYING* EARNINGS | 16 476 | 7 713 | 26 939 | ||
| Underlying* earnings per share (US cents) | |||||
| Underlying* | 8.3 | 3.9 | 13.6 | ||
| Diluted underlying* | 8.1 | 3.9 | 13.2 | ||
| Net asset value | |||||
| Net asset value per share (US cents) | 290.5 | 287.9 | 293.2 | ||
| Key ratios | |||||
| Gross margin (%) | 16.6 | 16.5@ | 16.8 | ||
| EBITDA margin (%) | 3.3 | 3.1@ | 2.9 | ||
| Effective tax rate (%) | 34.0 | 64.8 | 77.4 | ||
| Exchange rates | |||||
| Average Rand/US$ exchange rate | 14.5 | 17.4 | 16.5 | ||
| Closing Rand/US$ exchange rate | 14.7 | 16.6 | 15.1 | ||
| Number of shares issued (millions) | |||||
| Issued | 203 | 201 | 201 | ||
| Issued (excluding treasury shares and shares held by participants under deferred bonus plan) | 200 | 199 | 199 | ||
| Weighted average | 199 | 199 | 199 | ||
| Diluted weighted average | 204 | 199 | 204 | ||
| @ Restated. | |
| * | 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. |
The underlying* earnings measure is specific to Datatec and is not required in terms of IFRS or the JSE Listings Requirements.
