NOTES TO THE CONDENSED FINANCIAL STATEMENTS 
FOR THE YEAR ENDED 31 DECEMBER 2005
 

 
1. These consolidated condensed annual financial statements have been prepared in accordance with International Financial Reporting Standards (IFRS) for the first time. Other than for the treatment of the convertible debentures held in Trencor, the accounting policies used in the preparation of the financial statements are consistent with those used in the annual financial statements for the year ended 31 December 2004. Users are however referred to notes 1 and 10 of the consolidated annual financial statements of Trencor Limited for changes in that company's financial results which have been included in these financial statements.
20052004
R MILLIONRESTATED
2.  Revenue
 Interest received8,08,6
3.Exceptional items
 Gain/(Loss) on dilution of interest in associate company1,8(0,1)
4.Headline earnings
Profit attributable to ordinary equity holders of the parent entity277,793,6
Exceptional items (Note 3)(1,8)0,1
 Attributable share of headline earnings adjustments of associate company(13,0)16,2
 Headline earnings262,9109,9
Weighted average number of shares in issue (million)897,8897,8
Headline earnings per share (cents)29,312,2
Adjusted undiluted headline earnings
Circular 07/02 issued by The South African Institute of Chartered Accountants requires that profits and losses on the sale of property, plant and equipment be excluded from the calculation of headline earnings. The directors consider that, given the nature of Textainer's business model, this treatment of profits and losses on sales of containers from its leasing fleet is not appropriate for a proper understanding of the results of the group. Accordingly, adjusted undiluted headline earnings per share, which includes profits and losses on the sale of containers, is also presented for information.
Headline earnings (as above)262,9109,9
Profit on sale of containers13,98,6
 Adjustment for unrealised gain on derivative instruments in Textainer (Note 7)(10,6)(12,9)
 Adjusted undiluted headline earnings266,2105,6
 Adjusted undiluted headline earnings per share (cents)29,711,8
5.Current assets
Trade and other receivables0,60,2
Amount owing by affiliated company7,3
Cash and cash equivalents1,09,3
  8,99,5
6.Current liabilities
Trade and other payables1,91,0
 Taxation0,71,5
  2,62,5
7.   Reporting changes
Users are referred to note 10 of the Trencor Limited consolidated condensed annual financial statements for the details relating to the restatements of the amounts recorded below.
PREVIOUSLY
STATEDADJUSTMENTRESTATED
As at 31 December 2003
Retained earnings136,50,6137,1
Non-distributable reserves510,519,2529,7
 Investment in associate829,519,8849,3
As at 31 December 2004
Retained earnings160,466,9227,3
Non-distributable reserves473,37,7481,0
 Investment in associate820,874,6895,4