Financial Highlights
1H2020
FY2019
Restated†
FY2018
US$m US$m US$m
Revenue 6,595 18,591 18,992
Profit after tax 813 1,976 1,576
Underlying profit attributable to shareholders* 138 863 856
Profit attributable to shareholders 301 881 418
Shareholders’ funds 6,717 6,860 6,144
US¢ US¢ US¢
Underlying earnings per share* 35 218 217
Earnings per share 76 223 106
Dividend per share 9 87 87
US$ US$ US$
Net asset value per share 17.00 17.36 15.55
1H2020
FY2019
Restated†
FY2018
S$m S$m S$m
Revenue 9,239 25,350 25,637
Profit after tax 1,140 2,694 2,127
Underlying profit attributable to shareholders* 193 1,177 1,156
Profit attributable to shareholders 422 1,202 564
Shareholders’ funds 9,359 9,243 8,392
Underlying earnings per share* 49 298 292
Earnings per share 107 304 143
Dividend per share 13 117 117
S$ S$ S$
Net asset value per share 23.68 23.39 21.24

The exchange rate of US$1=S$1.39 (31st December 2019: US$1=S$1.35) was used for translating assets and liabilities at the balance sheet date and US$1=S$1.40 (30th June 2019: US$1=S$1.36) was used for translating the results for the period.

† The accounts have been restated due to changes in accounting policies upon adoption of IFRS 16 Leases.

*The Group uses underlying profit in its internal financial reporting to distinguish between ongoing business performance and non-trading items. Items classified as non-trading items include fair value gains or losses on revaluation of investment properties, agricultural produce and equity investments which are measured at fair value through profit and loss; gains and losses arising from the sale of businesses, investments and properties; impairment of non-depreciable intangible assets and other investments; provisions for closure of businesses; acquisition-related costs in business combinations and other credits and charges of a non-recurring nature that require inclusion in order to provide additional insight into the Group’s underlying business performance.