Statement of Financial Performance
| Consolidated | |||
| For the year ended 30 June 2004 | Note | 2004 $’000 |
2003 $’000 |
|---|---|---|---|
| Sales revenue | 3 | 711,389 | 607,222 |
| Cost of sales | (474,523) | (452,282) | |
| Gross profit | 236,866 | 154,940 | |
| Other revenues from ordinary activities | 3 | 5,069 | 5,966 |
| Exploration costs | (32,050) | (26,760) | |
| Corporate administration costs | (20,332) | (18,960) | |
| Borrowing costs | 4 | (12,054) | (14,975) |
| Net foreign exchange gain/(loss) | 4 | 969 | (13,001) |
| Other expenditure | (7,535) | (3,738) | |
| Written down value of assets sold | 4 | (1,042) | (102) |
| Provision for surplus foreign exchange contracts | 5 | 10,252 | 23,951 |
| Foreign exchange gain on US dollar borrowing | 5 | 4,673 | 24,681 |
| Provision for hedging contract restructures | 5 | (9,795) | (11,681) |
| Profit from ordinary activities before income tax expense | 175,021 | 120,321 | |
| Income tax expense relating to ordinary activities | 6 | (51,090) | (29,236) |
| Profit from ordinary activities after related income tax expense | 123,931 | 91,085 | |
| Net (profit)/loss attributable to outside equity interest | (1,061) | 1,062 | |
| Net profit attributable to members of the parent entity | 122,870 | 92,147 | |
| Total share issue expenses attributable to members of the parent entity recognised directly in equity | – | (2,714) | |
| Total changes in equity other than those resulting from transactions with owners as owners attributable to members of the parent entity | 122,870 | 89,433 | |
| Basic earnings per share (cents per share) | 8 | 37.5 | 29.6 |
| Diluted earnings per share (cents per share) | 8 | 37 | 29.3 |
The Statement of Financial Performance is to be read in conjunction with the Management Discussion and Analysis of the Financial Statements and the Notes to the Concise Financial Report.