Group Segmental Analysis
for the years ended 31 March

Foschini Limited and its subsidiaries

  RCS Group Retail Consolidated
  2008 2007 2008 2007 2008 2007
  Rm Rm Rm Rm Rm Rm
REVENUE*            
External 874,2 721,6 8 379,4 7 806,2 9 253,6 8 527,8
Inter-segment – – – – – –
Total revenue 874,2 721,6 8 379,4 7 806,2 9 253,6 8 527,8
SEGMENT RESULT            
Operating profit before finance charges 386,7 408,5 1 518,8 1 478,5 1 905,5 1 887,0
External interest (51,8) (31,0) (68,3) (73,7) (120,1) (104,7)
Inter-segment interest (65,3) (54,8) 65,3 54,8 – –
Interest paid (117,1) (85,8) (3,0) (18,9) (120,1) (104,7)
Profit before tax and income from associate 269,6 322,7 1 515,8 1 459,6 1 785,4 1 782,3
* Includes retail turnover, interest received and other income            
             
SEGMENT ASSETS            
Non-current assets 871,0 888,9 1 126,3 1 091,8 1 997,3 1 980,7
Current assets 1 004,6 839,5 3 898,0 3 783,8 4 902,6 4 623,3
Inter-segment assets (liabilities) 12,9 12,9 (12,9) (12,9) – –
Total assets 1 888,5 1 741,3 5 011,4 4 862,7 6 899,9 6 604,0
SEGMENT LIABILITIES            
Non-current liabilities 495,7 391,6 194,3 744,0 690,0 1 135,6
Current liabilities 120,9 119,6 1 906,0 1 142,1 2 026,9 1 261,7
Inter-segment liabilities (assets) 665,9 725,4 (665,9) (725,4) – –
Total liabilities 1 282,5 1 236,6 1 434,4 1 160,7 2 716,9 2 397,3
SEGMENT INFORMATION            
Capital expenditure 27,1 13,2 247,3 291,2 274,4 304,4
Depreciation and amortisation 13,1 5,5 191,6 168,6 204,7 174,1

All retail divisions within the group operate in an established retail market and are therefore considered to be subject to similar risks and rewards.

Segment revenue and expenses

Revenue and expenses that are directly attributable to segments are allocated to those segments.

Those that are not directly attributable to segments are allocated on a reasonable basis.

Segment assets and liabilities

Segment assets include all operating assets used by a segment and consist principally of operating cash, receivables, inventories and property, plant and equipment, net of related allowances and accumulated impairments.

While most such assets can be directly attributable to individual segments, the carrying amount of certain assets used jointly by two or more segments is allocated to the segments on a reasonable basis. Segment liabilities include all operating liabilities, and consist principally of trade payables, salaries and accruals.

Inter-segment transfers

Segment revenue, segment expenses and segment result include transfers between business segments.

These transfers occur at market prices and are eliminated on consolidation.