INVESTOR RELATIONS

Financial Performance

Financial Performance: Last 10 years

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Financial Highlights and Salient Features

% change

2010

2011

Retail turnover (Rm)

15,5%

8 605,2

9 936,5

Operating profit before finance charges (Rm)

16,7%

1 972,6

2 301,2

EBITDA (Rm)

15,5%

2 236,8

2 583,9

Profit before tax (Rm)

19,9%

1 711,1

2 051,1

Headline earnings (Rm)

20,3%

1 085,6

1 305,6

Profit attributable to equity holders of The Foschini Group Limited (Rm)

19,9%

1 085,6

1 301,8

Total shareholders’ interest (Rm)

8,0%

5 058,3

5 462,9

Total equity (Rm)

8,4%

5 485,3

5 948,5

Total liabilities (Rm)

26,7%

3 751,6

4 754,0

Net borrowings (Rm)

36,2%

1 485,5

2 023,4

Earnings per ordinary share* (cents)

20,9%

521,4

630,4

Headline earnings per ordinary share* (cents)

21,3%

521,4

632,3

Tangible net asset value per ordinary share** (cents)

10,1%

2 399,6

2 642,9

Dividend per share (cents) – interim

16,9%

118,0

138,0

Dividend per share (cents) – final

24,7%

170,0

212,0

Dividend per share (cents) – total

21,5%

288,0

350,0

Gross number of shares in issue (millions)

240,5

240,5

Net number of shares in issue (millions)

209,0

205,3

Weighted average number of shares in issue

208,2

206,5

Closing US$ conversion rate

7,35

6,81

Average US$ conversion rate

7,86

7,23

*	based on the weighted average number of shares in issue
**	based on the net actual number of shares in issue

Financial Statistics and targets

Medium-

term

target

2011

2010

Operating margin (%)

25,0

23,2

22,9

Net bad debt write-off as a % of debtors’ book – retail

9,2

9,9

ROE (%)

32,0

24,3

22,5

Current ratio (times)

2,4

3,7

Debt:equity ratio (%)

40,0

34,0

27,1

Recourse debt:equity ratio (%)

16,3

11,6

Total liabilities to total equity (%)

79,9

68,4

Net borrowings to EBITDA (times)

0,8

0,7

Finance charge cover (times)

9,2

7,5

EBITDA finance charge cover (times)

10,3

8,6

Dividend cover (times)

1,8

1,8

Number of stores

1 727

1 627

Square metres

537 951

505 676

Stock turn

– jewellery

1,9

1,7

– @home

2,1

1,8

– other

3,7

3,2

Retail turnover by merchandise category

	2011(Rm)	2010 (Rm)	1st half growth	2nd half growth	% total growth	1st half same store growth	2nd half same store growth	2011 total same store growth
Clothing	6 550,9	5 660,2	11,7%	19,5%	15,7%	7,6%	14,0%	10,8%
Jewellery	1 134,2	1 025,7	10,4%	10,7%	10,6%	7,3%	6,3%	6,7%
Cellphones	894,8	707,6	25,5%	27,2%	26,5%	22,0%	25,6%	23,9%
Cosmetics	677,6	622,7	5,9%	11,4%	8,8%	3,0%	7,4%	5,4%
Homeware and furniture	679,0	589,0	15,9%	14,8%	15,3%	7,9%	8,6%	8,3%
Total	9 936,5	8 605,2	12,5%	18,1%	15,5%	8,3%	13,2%	10,8%

Segmental analysis

	2011(Rm)	2010(Rm)	% change
Retail	1 775,5	1 485,2	19,5%
RCS Group	275,6	225,9	22,0%
Total profit before tax	2 051,1	1 711,1	19,9%

Divisional review: Overall

	2011 Turnover (Rm)	% 1st half growth	% 2nd half growth	% total growth	% 1st half same store growth	% 2nd half same store growth	% total same store growth	Number of store
Foschini division	3 719,0	7,2	17,7	12,5	3,8	12,7	8,3	484
Markham	1 634,7	16,4	23,7	20,2	13,2	20,3	16,9	247
Exact!	932,7	20,2	25,0	22,7	16,8	23,6	20,4	208
Sports division	1 750,0	17,1	16,7	16,9	11,6	8,3	9,9	324
Jewellery division	1 221,1	10,9	11,9	11,5	7,8	8,1	8,0	381
@home	679,0	16,1	15,0	15,5	7,9	8,7	8,3	83
Group	9 936,5	12,5	18,1	15,5	8,3	13,2	10,8	1 727
Cash sales	3 823,7	18,4	18,9	18,7
Credit sales	6 112,8	9,1	17,6	13,5
Total	9 936,5	12,5	18,1	15,5