Annexure C

Segment Statement of Comprehensive Income vs. IFRS Statement of Comprehensive Income
For the year ended 31 March

                   
  Segmental reporting²   IFRS disclosure   Impact ¹
                   
  2018 2017   2018   2017   2018 2017
  R'000 R'000   R'000   R'000   R'000 R'000
                   
Operating revenue   2,438,517   2,331,304     2,489,142     2,307,195     50,625   (24,109)
Investment and other income   103,913   84,894     62,850     161,777     (41,063)   76,883
                   
Total revenue   2,542,430   2,416,198     2,551,992     2,468,972     9,562   52,774
Fair value gains on linked financial investments and contract liabilities   -     -       -       -       -     -  
Operating expenses   (1,887,835)   (1,731,074)     (1,927,771)     (1,798,393)     (39,936)   (67,319)
                   
Profit from operations   654,595   685,124     624,221     670,579     (30,374)   (14,545)
Net interest income   97,583   48,081     92,597     42,549     (4,986)   (5,532)
  Interest income   140,840   105,760     140,840     105,760     -     -  
  Interest expense   (43,257)   (57,679)     (48,243)     (63,211)     (4,986)   (5,532)
Share of profits from equity accounted investees   130,798   100,006     130,798     100,006     -     -  
                   
Profit before taxation and capital items   882,976   833,211     847,616     813,134     (35,360)   (20,077)
Gain on disposal of interest in equity accounted investee   -     19,026     -       19,026     -     -  
Gain on disposal of intangible assets - customer relationships   -     2,279     -       2,279     -     -  
                   
Profit before taxation   882,976   854,516     847,616     834,439     (35,360)   (20,077)
Taxation   (172,317)   (136,706)     (163,283)     (131,492)     9,034   5,214
                   
Profit for the year   710,659   717,810     684,333     702,947     (26,326)   (14,863)
                   
Profit for the year attributable to:                  
Equity holders of the company   534,485   513,777     513,176     501,850     (21,309)   (11,927)
Non-controlling interests   176,174   204,033     171,157     201,097     (5,017)   (2,936)
                   
    710,659   717,810     684,333     702,947     (26,326)   (14,863)
                   
Basic earnings   534,485   513,777     503,924 ^   489,917 ^   (30,561)   (23,860)
Headline earnings   534,485   499,248     503,924 ^   475,733 ^   (30,561)   (23,515)
                   
Basic earnings per ordinary share (cents)   248.0   238.3     238.5     236.9     (9.5)   (1.4)
Headline earnings per ordinary share (cents)   248.0   231.6     238.5     230.0     (9.5)   (1.6)
                   
Number of ordinary shares in issue ('000)   226,066   226,066     226,066     226,066     -     -  
Number of treasury shares ('000)   10,834   10,484     14,715     15,611     3,881   5,127
Weighted average number of ordinary shares
in issue ('000)
  215,555   215,581     211,293     206,820     (4,262)   (8,761)

^ Refer to note 8 for the reconciliation between profit attributable to equity holders, basic earnings and headline earnings.

1 Refer to annexure D for reconciling items.

2 Refer to annexure F for the Segment Statement of Comprehensive Income Analysis Split.

The Directors have presented the above information using the accounting policy for the presentation of the Group's segmental reporting. The disclosures above are prepared on this basis which is consistent with the manner in which the Directors' manage the business. The Group’s identification of segments, and approach to preparation of segment information is more fully explained in the Segmental Information section of the Annual Financial Statements.