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During the financial year the SA rand strengthened against the US dollar, and the rate demonstrated more stability than in recent years, with the currency ending the financial year at R6.26 to the US dollar (2004: R6.39). The weighted average rand/dollar rate improved by 13% to R6.22, compared with R7.06 in the prior year, and this has enhanced the results of the South African businesses, as reported in US dollars. Currencies in central Europe also strengthened against the US dollar, and again this has contributed to the improvement in reported results.

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