Definitions
PROFIT FROM TONGAAT HULETT OPERATIONSProfit from Tongaat Hulett operations comprises results of continuing operations, Triangle dividend and centrally accounted costs. HEADLINE EARNINGSHeadline earnings are calculated in note 22, in accordance with the South African Institute of Chartered Accountants’ Circular 8/2007 Headline Earnings. HEADLINE EARNINGS PER SHAREHeadline earnings divided by the weighted average number of shares in issue. OPERATING MARGINProfit from Tongaat Hulett operations expressed as a percentage of revenue. RETURN ON CAPITAL EMPLOYEDProfit from Tongaat Hulett operations expressed as a percentage of average capital employed, excluding capital work in progress. RETURN ON EQUITYHeadline earnings expressed as a percentage of average equity. DEBT TO EQUITYLong and short-term borrowings divided by equity. NET DEBT TO EQUITYLong and short-term borrowings less cash and cash equivalents divided by equity. CURRENT RATIOCurrent assets divided by current liabilities. LIQUIDITY RATIOCurrent assets, excluding inventories, divided by current liabilities. NET ASSET VALUE PER SHAREEquity divided by the number of ordinary shares at year end. CAPITAL EMPLOYEDEquity, minority interests, deferred tax, long and short-term borrowings and provisions. TOTAL LIABILITIESLong and short-term borrowings, provisions, trade and other payables and derivative liabilities. |    |
