The Koffiefontein mine in South Africa

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Highlights

Highlights for the year ended 30 June 2014 (“the Year” or “FY 2014”).

Financial Highlights

  • Revenue1 up 20% to US$471.8 million (FY 2013: US$392.5 million).
  • Adjusted EBITDA2 up 47% to US$187.7 million (FY 2013: US$127.6 million).
  • Adjusted net profit after tax3 up 75% to US$93.7 million (FY 2013: US$53.6 million).
  • Net profit after tax up 142% to US$67.5 million (FY 2013: US$27.9 million).
  • Adjusted operating cashflow4 up 36% to US$181.2 million (FY 2013: US$132.8 million).
  • Adjusted EPS5: 14.82 cents per share (FY 2013: 11.34 cents per share).
  • Basic EPS from continuing operations: 12.80 cents per share (FY 2013: 10.43 cents per share).
  • Net debt: US$124.9 million (30 June 2013: US$120.8 million).

Notes:

  1. Revenue of US$471.8 million (30 June 2013: US$392.5 million) is US$0.8 million (30 June 2013: US$10.2 million) less than that published in the 28 July 2014 Trading Update (US$472.6 million) (30 June 2013: US$402.7 million) due to the reclassification of the revenue generated by Sedibeng JV and Star operations to loss on disposal of discontinued operations. Revenue for FY 2013 is US$10.2 million less than published in the Group’s 2013 Annual Report for the same reason.
  2. Adjusted EBITDA is stated before share-based expense, impairment charges, net unrealised foreign exchange gains and losses, and loss on discontinued operations.
  3. Adjusted net profit after tax and adjusted (basic) earnings per share are net profit after tax and earnings per share stated before impairment charges, net unrealised foreign exchange gains and losses and loss on discontinued operations.
  4. Adjusted operating cashflow is operating cashflow adjusted for the cash effect of the movement in diamond debtors between each financial year end, excluding unrealised foreign exchange translation movements.
  5. Adjusted net profit after tax and adjusted (basic) earnings per share are net profit after tax and earnings per share stated before impairment charges, net unrealised foreign exchange gains and losses and loss on discontinued operations.