DEFINITIONS
| Credit transactions: RCS Group | Comprises all loan advances and card purchases | |
|---|---|---|
| Credit transactions: retail | VAT inclusive credit retail turnover and income from sundry credit services | |
| Current ratio | Current assets divided by current liabilities | |
| Debt: equity ratio | Net borrowings expressed as a percentage of total equity | |
| Dividend cover | Basic earnings per share divided by dividend declared in respect of the relevant period | |
| Doubtful debt provision as a % of debtors’ book | Provision for doubtful debts expressed as a percentage of gross receivables | |
| EBITDA | Earnings before interest paid, tax, depreciation and amortisation | |
| EBITD finance charge cover | EBITDA divided by interest paid | |
| Finance charge cover | Operating profit before finance charges divided by interest paid | |
| Gross square metres | Comprises the total leased store area including stockrooms | |
| Headline earnings | Net income attributable to ordinary shareholders adjusted for the effect, after tax, of exceptional items | |
| Headline earnings per ordinary share | Headline earnings divided by the weighted average number of shares in issue for the year | |
| LSM | Refers to the SAARF Universal Living Standards Measure which is a unique means of segmenting the South African market by dividing the population into 10 LSM groups, 1 (lowest) to 10 (highest). Refer table below | |
| Market capitalisation | The market price per share at the year-end multiplied by the number of ordinary shares in issue at the year-end | |
| Net borrowings | Interest-bearing debt, RCS Group external funding and non-controlling interest loans reduced by preference share investment and cash | |
| Net bad debt and provision movement | VAT exclusive bad debts including provision movement, net of recoveries | |
| Net bad debt write-off: retail | VAT inclusive bad debts, net of recoveries and excluding movement in provision in respect of the group’s retail receivables | |
| Net bad debt write-off: RCS Group | VAT exclusive bad debts, net of recoveries and excluding movement in provision in respect of the receivables in the RCS Group | |
| Net bad debt write-off as a % of credit transactions | Net bad debt write-off expressed as a percentage of credit transactions | |
| Net bad debt write-off as a % of debtors’ book | Net bad debt write-off expressed as a percentage of gross receivables | |
| Recourse debt: equity ratio | Recourse debt reduced by preference share investment and cash, expressed as a percentage of total equity | |
| Same store | Stores which have traded for the full current and previous financial years out of the same trading area | |
| Tangible net asset value per ordinary share | Total net asset value, after non-controlling interest, excluding goodwill and intangible assets, divided by the net number of ordinary shares in issue at the year-end | |
| Operating margin | Operating profit before finance charges expressed as a percentage of retail turnover |
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| SAARF Living Standards Measure |
Population | % Population |
% Population |
% Population |
% Population |
% Population |
Average monthly |
| (LSM)* | 2009 | 2005 | 2006 | 2007 | 2008 | 2009 | 2009 |
| LSM 1 | 1 092 000 | 7,6 | 6,1 | 4,1 | 3,4 | 3,5 | 1 393 |
| LSM 2 | 2 314 000 | 12,2 | 12,2 | 9,8 | 8,7 | 7,3 | 1 570 |
| LSM 3 | 2 466 000 | 13,0 | 12,6 | 10,8 | 9,2 | 7,8 | 2 121 |
| LSM 4 | 4 476 000 | 14,9 | 14,9 | 13,8 | 14,5 | 14,2 | 2 583 |
| LSM 5 | 4 782 000 | 13,5 | 13,5 | 14,5 | 15,5 | 15,2 | 3 635 |
| LSM 6 | 6 140 000 | 14,5 | 14,4 | 17,3 | 18,2 | 19,5 | 6 000 |
| LSM 7 | 3 214 000 | 7,1 | 7,8 | 9,3 | 9,4 | 10,2 | 9 726 |
| LSM 8 | 2 386 000 | 5,2 | 5,7 | 6,7 | 6,9 | 7,6 | 13 254 |
| LSM 9 | 2 668 000 | 6,4 | 6,7 | 7,6 | 8,2 | 8,4 | 18 082 |
| LSM 10 | 1 986 000 | 5,5 | 6,0 | 6,1 | 6,1 | 6,3 | 28 112 |
| * Source: SAARF AMPS 2005 – 2009 | |||||||
