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Group income statement for the year ended 31 May 2024

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Notes    2024 
R’000 
  2023 
R’000 
Revenue  1.2    14 175 588    18 595 905 
Finance revenue  1.2    422 856    322 358 
Total revenue  1.2    14 598 444    18 918 263 
Other income  93 089    90 176 
Direct operating costs*  (11 303 406)   (15 435 188)
Employee compensation and benefit expense  5.2    (961 883)   (945 501)
Depreciation and amortisation  (163 879)   (190 440)
Fair value movements  1.3    7 213    69 276 
Bad debts and expected credit loss  1.3    (507 782)   (736 925)
Loss on modification/derecognition of financial instruments  1.3    (32 576)   (57 453)
Other expenses  (667 624)   (585 722)
Operating profit  1.3    1 061 596    1 126 486 
Finance costs  1.4    (1 121 356)   (682 599)
Finance income  1.4    901 884    411 540 
Reversal of impairment of investment in associate  2.1.1    —    962 531 
Share of gains/(losses) from associates and joint ventures  2.1.1    15 416    (1 329 747)
Profit before taxation  857 540    488 211 
Taxation  7.1    (197 955)   (200 038)
Profit for the year  659 585    288 173 
Profit for the year attributable to: 
Equity holders of the parent  647 386    268 966 
Non-controlling interest  12 199    19 207 
Earnings per share for profit attributable to: 
Equity holders (cents)
–  Basic  1.5    72.49    30.48 
–  Diluted  1.5    72.03    30.07 
* Direct operating costs are the operating expenses directly attributable to the production of goods and services sold by the Group. These include, but are not limited to, the costs associated with the acquisition of airtime and handsets sold by the Group.