Annexure 1 – Group segmental analysis

for the year ended 30 June 2011

Operating segments reflect the management structure of the group and the manner in which performance is evaluated and resources allocated as managed by the group’s chief operating decision-maker, defined as the executive committee members (exco) of the group.

These operating segments are listed below.

Of primary focus to exco is the revenue, operating profit, capital expenditure and current assets per segment and revenue per geography.

The required segmental reporting disclosures are provided on page 192 of this report.

In addition, although exco does not review the information included in this Annexure on a monthly basis in order to take strategic decisions, management provides this additional segmental reporting as it deems this information to constitute further value added disclosure to stakeholders.

	Statement of financial position
	Property, plant and equipment and investment property				Other non-current assets (excluding non-current assets classified as held for sale and deferred taxation)				Current assets (excluding cash and cash equivalents)
Note: Graphs represent F2011 values only.
R'000	2011		2010		2011		2010		2011		2010
Investments and Concessions	90 100		113 806		272 287		364 820		231 280		148 800
Infrastructure Concessions	34 075		41 302		260 109		231 615		147 205		63 815
Property Developments	56 025		72 504		12 178		133 205		84 075		84 985
Manufacturing	160 192		162 781		14 469		11 345		402 767		411 673
Construction Materials	574 879		1 174 578		7 806		31 302		168 731		169 745
Construction	605 286		655 408		111 298		129 426		2 760 195		3 366 681
Building and Housing	15 555		20 181		35 749		41 739		650 514		775 751
Civil Engineering	498 000		552 873		53 040		68 194		1 649 477		2 009 224
Engineering	91 731		82 354		22 509		19 493		460 204		581 706
Total	1 430 457		2 106 573		405 860		536 893		3 562 973		4 096 899

A description of the products and/or services provided by the segments is disclosed under the operational and financial review of this annual report.

Statement of financial position
Total assets (excluding non-current assets classified as held for sale, deferred taxation, cash and cash equivalents)				Non-current liabilities (excluding deferred taxation)				Current liabilities (excluding current taxation payable and bank overdrafts)				Total liabilities (excluding deferred taxation, current taxation payable and bank overdrafts)
2011		2010		2011		2010		2011		2010		2011		2010
593 665		627 426		20 115		30 170		296 260		262 432		316 374		292 602
441 388		336 732		867		28 404		230 735		170 973		231 602		199 377
152 277		290 694		19 248		1 766		65 525		91 459		84 772		93 225
577 429		585 799		39 515		84 463		256 605		201 060		296 121		285 523
751 417		1 375 625		72 376		175 912		219 533		173 964		291 909		349 876
3 476 779		4 151 515		141 696		617 644		4 341 518		5 673 684		4 483 214		6 291 328
701 818		837 671		4 424		162 408		1 410 284		1 804 556		1 414 708		1 966 964
2 200 517		2 630 291		134 486		379 388		2 271 495		3 189 439		2 405 982		3 568 827
574 444		683 553		2 786		75 848		659 739		679 689		662 524		755 537
5 399 290		6 740 365		273 702		908 189		5 113 916		6 311 140		5 387 618		7 219 329

	Income statement
	Revenue				Operating profit before fair value adjustments and impairment adjustments
Note: Graphs represent F2011 values only.
R'000	2011		2010		2011		2010
Investments and Concessions	554 659		591 871		60 231		74 926
Infrastructure Concessions	522 870		557 227		73 041		85 615
Property Developments	31 789		34 644		(12 810)		(10 689)
Manufacturing	867 523		866 221		26 187		86 812
Construction Materials	434 233		491 860		(68 157)		20 186
Construction	7 350 583		9 387 636		480 567		694 971
Building and Housing	2 143 004		3 186 142		136 924		236 620
Civil Engineering	3 548 361		4 713 487		232 069		310 655
Engineering	1 659 218		1 488 007		111 574		147 696
Total	9 206 998		11 337 588		498 828		876 895

A description of the products and/or services provided by the segments is disclosed under the operational and financial review of this annual report.

Cash flow
Depreciation				Capital expenditure				Number of employees
2011		2010		2011		2010		2011		2010
12 620		12 963		6 376		9 706		1 460		1 316
12 484		12 814		6 081		8 287		1 453		1 308
136		149		295		1 419		7		8
28 951		20 873		32 020		23 302		1 175		1 166
44 669		62 228		15 616		41 747		557		804
125 317		149 171		96 340		135 271		8 805		9 211
7 871		10 303		3 745		6 622		2 003		1 794
89 676		115 398		57 596		109 052		3 577		5 575
27 770		23 470		34 999		19 597		3 225		1 842
211 557		245 235		150 352		210 026		11 997		12 497

	Income statement				Statement of financial position				Cash flow
	Revenue				Total assets (excluding non- current assets classified as held for sale, deferred taxation and cash and cash equivalents)				Capital expenditure
Note: Graphs represent F2011 values only.
R'000	2011		2010		2011		2010		2011		2010
Eastern Europe	300 358		370 946		555 785		465 215		5 277		7 500
Middle East	405 211		768 143		1 173 574		1 524 368		28 469		13 817
Eastern Africa	25 550		177 600		47 186		107 109		–		–
Construction Materials	7 216 252		9 335 238		3 261 856		3 931 929		99 675		166 893
Central Africa	1 030 594		447 879		243 798		621 769		7 126		17 643
Western Africa	229 033		237 782		117 091		89 975		9 805		4 173
Total	9 206 998		11 337 588		5 399 290		6 740 365		150 352		210 026