10. |
EARNINGS PER ORDINARY SHARE |
| Number of ordinary shares | As at 30 June 2024 Reviewed |
As at 30 June 2023 Reviewed |
As at 31 December 2023 Audited |
|
| Number of ordinary shares in issue | ||||
| At end of the period (excluding MTN Zakhele Futhi and treasury shares) | 1 806 474 797 | 1 806 405 171 | 1 806 474 797 | |
| Weighted average number of shares | 1 806 490 550 | 1 806 200 989 | 1 806 314 999 | |
| Add: Dilutive shares | ||||
| - Share options – MTN Zakhele Futhi | – | 21 591 644 | 18 292 744 | |
| - Share schemes | – | 14 070 320 | 13 352 192 | |
| Shares for dilutive earnings per share | 1 806 490 550 | 1 841 862 953 | 1 837 959 935 | |
Treasury shares
Treasury shares of 878 172 (June 2023: 1 029 209, December 2023: 959 583) are held by the Group and 76 835 378 (June 2023: 76 835 378, December 2023: 76 835 378) are held by MTN Zakhele Futhi (RF) Limited (MTN Zakhele Futhi).
Headline earnings
Headline earnings is calculated in accordance with Circular 1/2023 Headline Earnings as issued by the South African Institute of Chartered Accountants (SAICA) as amended from time to time and as required by the JSE Limited.
| Six months ended 30 June 2024 Reviewed Rm |
Six months ended 30 June 2023 Restated Reviewed Rm |
Financial year ended 31 December 2023 Audited Rm |
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| Reconciliation between net profit attributable to the equity holders of the Company and headline earnings: | ||||||
| Profit attributable to equity holders of the Company | (7 390) | 4 141 | 4 092 | |||
| Net profit on disposal of property, plant and equipment and intangible assets (IAS 16 and IAS 38) |
(39) | (22) | (2) | |||
| - Subsidiaries (IAS 16) | (35) | (18) | 8 | |||
| - Joint ventures (IAS 28) | (4) | (4) | (10) | |||
| Impairment of goodwill and investment in joint ventures (IAS 36) | 437 | – | – | |||
| Net impairment loss on property, plant and equipment, right-of-use-assets and intangibles (IAS 36) | 3 807 | 253 | 850 | |||
| Impairment loss on remeasurement of disposal group (IFRS 5) | 146 | 385 | 900 | |||
| Gain on deconsolidation of subsidiary (IFRS 10) | (1 018) | – | – | |||
| Gain on sale of MTN South Africa towers (IFRS 5) | (11) | (53) | (76) | |||
| Total non-controlling interest and tax effect of adjustments | (575) | (13) | (74) | |||
| Headline earnings | (4 643) | 4 691 | 5 690 | |||
| Earnings per share (cents) | ||||||
| – Basic | (409) | 229 | 227 | |||
| – Basic headline | (256) | 260 | 315 | |||
| Diluted earnings per share (cents)1 | ||||||
| – Diluted | (409) | 225 | 223 | |||
| – Diluted headline | (256) | 254 | 310 | |||
| 1 | Due to losses incurred for the six months ended 30 June 2024, the share options and share schemes are anti-dilutive for the period. |