US incomestatement by hd3hIc57

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									United States dollar equivalent - Consolidated income statement


Consolidated income statement for the year ended 31 December
Supplementary information for convenience of users
                                                                     2003     2002
                                                                    US$m     US$m

Gross sales revenue                                                2 187,5 1 936,1
Commissions paid                                                     (54,1)  (70,0)

Net sales revenue                                                  2 133,4 1 866,1
Cost of sales                                                     (1 615,3) (966,7)

Gross profit on metal sales                                         518,1     899,4
Other net expenditure                                               (35,7)    (72,0)
Market development and promotional expenditure                      (34,1)    (25,4)

Operating profit                                                    448,3     802,0
Net interest (paid)/received                                        (31,4)     14,9
Income from associates                                                 4,6     17,3

Profit before taxation                                               421,5     834,2
Taxation                                                           (144,4)   (286,1)
Normal                                                              (99,2)   (221,3)
  Current                                                           (14,4)   (103,5)
  Deferred                                                          (84,8)   (117,8)
STC                                                                 (45,2)    (64,8)

Net profit                                                           277,1     548,1
Dividends paid in cash                                             (362,0)   (511,8)
Exchange rate translation adjustment                                 403,3     398,2
Accumulated profits at beginning of year as restated               1 446,6     962,5
  As previously stated                                             1 446,6     944,5
  Change in accounting policy translated at 2001 closing rate            -      18,0
Repurchase of shares by Company from wholly owned subsidiary             -      49,6

Accumulated profits at end of year                                 1 765,0 1 446,6

Average rand/US$ exchange rate                                     75,467 104,778

Number of ordinary shares in issue (millions)                        215,4    214,9
Weighted average number of ordinary shares in issue (millions)       215,1    214,5
Earnings per share (cents)
- Basic                                                              128,9    255,5
- Headline                                                           128,8    250,5
- Diluted (basic)                                                    128,6    254,9
- Diluted (headline)                                                 128,6    250,1
Dividends per share (cents)                                           84,8    171,8
- Interim                                                                        49,0    85,9
- Final                                                                         35,8*    85,9

Reconciliation between basic and headline earnings
Net profit                                                                     277,1    548,1
Adjustments:
  Profit on disposal of mineral rights                                          (8,6)   (9,4)
  Goodwill amortization                                                           1,7       -
  Negative goodwill amortization                                                (1,5)   (1,1)
  Scrapping of property, plant and equipment                                      8,3       -
     Carrying amount                                                            11,9        -
Deferred taxation effect                                                        (3,6)       -

Headline earnings                                                              277,0    537,6


Income statement items were translated at the average exchange rate for the year.
* Proposed ordinary dividend.

								
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