GROUP CONDENSED STATEMENT OF COMPREHENSIVE INCOME

for the six months ended 30 June 2014

	Six months ended 30 June 2014 Reviewed R’000	Six months ended 30 June 2013 Reviewed R’000
Revenue	1 990 697	1 469 324
EBITDA	422 782	210 185
Depreciation and impairment	(84 619)	(145 370)
Net financing costs	(18 325)	(9 579)
Profit before taxation	319 838	55 236
Taxation	(95 175)	(21 713)
Current tax	(35 890)	(797)
Deferred tax	(59 285)	(22 275)
Prior years overprovision	–	1 359

Profit and total comprehensive income for the period	224 663	33 523
Basic earnings per share (cents)	9,0	1,3
Diluted earnings per share (cents)	8,9	1,3
Ordinary shares in issue	2 495 754 728	2 493 221 394
Weighted average number of shares for the period	2 494 664 949	2 493 221 394
Diluted weighted average number of shares for the period	2 515 371 345	2 509 534 023

Notes:	Six months ended 30 June 2014 Reviewed R’000	Six months ended 30 June 2013 Reviewed R’000
Headline earnings per share (cents)	8,9	3,8
Diluted headline earnings per share (cents)	8,8	3,8
Headline earnings reconciliation
Profit and total comprehensive income for the period	224 663	33 523
Impairment	–	75 933
Taxation effect of impairment	–	(15 194)
Profit on disposal of fixed assets	(4 695)	(37)
Taxation effect of profit on disposal of fixed assets	1 315	10
Headline earnings	221 283	94 235

Sponsor: Merrill Lynch South Africa Proprietary Limited

Executive Directors: Z Matlala (Chief Executive Officer), D Chocho (Chief Financial Officer), B McBride
Non-executive Directors: CK Molefe (Chairman)*, NB Majova*, M Mamathuba, A Mngomezulu*,
K Nondumo*, S Phiri, M Mosweu, Z van der Walt*
Company Secretary: A Mahendranath
Registered office: First Floor, Block B, Sandton Place,
68 Wierda Road East, Wierda Valley, Sandton, 2196
Transfer secretaries: Link Market Services South Africa Proprietary Limited
* independent

Finance and Investor Relations Manager: Kajal Bissessor
Tel: +27 11 783 4780/+27 83 784 6686
Email: kajal@meraferesources.co.za