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FINANCIAL HIGHLIGHTS AND SHARE PERFORMANCE

FINANCIAL STATISTICS AND TARGETS

  Medium-    
  term target 2010 2009
Operating margin (%) 25,0 22,9 25,0
Net bad debt write-off as a % of debtors’ book – retail   9,9 8,7
ROE (%) 35,0 22,5 26,9
Current ratio (times)   4,0 3,4
Debt:equity ratio (%) 40,0 27,1 33,5
Recourse debt:equity ratio (%)   11,6 17,4
Total liabilities to total equity (%)   68,4 78,4
Net borrowings to EBITDA (times)   0,7 0,7
Finance charge cover (times)   7,5 8,1
EBITDA finance charge cover (times)   8,6 9,0
Dividend cover (times)   1,8 1,9
Number of stores   1 627 1 539
Square metres   505 676 467 420
Stock turn (12-month average)      
– jewellery   1,7 1,7
– @home   1,8 1,8
– other   3,2 3,2


FINANCIAL HIGHLIGHTS AND SALIENT FEATURES

     
  % change 2010 2009
Retail turnover (Rm) 6,4 8 605,2 8 089,6
Operating profit before finance charges (Rm) (2,6) 1 972,6 2 025,5
EBITDA (Rm) (0,9) 2 236,8 2 256,6
Profit before tax (Rm) (3,6) 1 711,1 1 775,7
Headline earnings (Rm) (5,3) 1 085,6 1 145,8
Profit attributable to equity holders of Foschini Limited (Rm) (5,3) 1 085,6 1 145,8
Total shareholders’ interest (Rm) 12,5 5 058,3 4 496,3
Total equity 13,0 5 485,3 4 855,5
Total liabilities (1,5) 3 751,6 3 808,5
Net borrowings (8,7) 1 485,5 1 626,9
Earnings per ordinary share* (cents) (6,8) 521,4 559,5
Headline earnings per ordinary share* (cents) (6,8) 521,4 559,5
Tangible net asset value per ordinary share** (cents) 11,7 2 399,6 2 148,1
Dividend per share (cents) – interim 118,0 118,0
Dividend per share (cents) – final 170,0 170,0
Dividend per share (cents) – total 288,0 288,0
Gross number of shares in issue (millions)   240,5 240,5
Net number of shares in issue (millions)   209,0 207,3
Closing US$ conversion rate   7,35 9,33
Average US$ conversion rate   7,86 8,89
       
* Based on the weighted average number of shares in issue      
** Based on the net actual number of shares in issue      
       
       

SHARE PERFORMANCE

     
    2010 2009
Market price per share (cents)      
– at year-end   6 700 4 394
– highest   7 025 5 200
– lowest   4 260 2 689
– average   5 633 3 952
Number of beneficial shareholdings   4 212 3 731
Price/earnings ratio at year-end   12,85 7,85
Dividend yield   4,3 6,6
Number of shares traded during the year (millions)   371,3 253,0
Volume traded/number of shares in issue (%)   154,4 105,2
Market capitalisation (Rm)   16 113,4 10 567,5

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