|
|
notes
| 1. |
The unaudited results for the half-year ended 30 September
2008 have been prepared in accordance with IAS 34 Interim Financial Reporting, using the group’s accounting policies, that are in line with International Financial Reporting Standards (IFRS) and have been consistently applied to prior periods. |
| 2. |
These financial statements incorporate the financial
statements of the company, all its subsidiaries and all entities over which
it has operational and financial control. |
| 3. |
Included in share capital are 24,0 (2007: 24,0) million
shares which are owned by a subsidiary of the company, and 11,9 (2007: 13,4)
million shares which are owned by the share incentive trust. These have been
eliminated on consolidation. |
| |
|
Sept 2008 |
Sept 2007 |
Mar 2008 |
| |
|
Unaudited |
Unaudited |
Audited |
| |
|
Rm |
Rm |
Rm |
| 4. |
Revenue |
|
|
|
| |
Retail turnover |
3 773,3 |
3 666,3 |
7 668,7 |
| |
Interest received (refer note 5) |
602,6 |
512,6 |
1 056,4 |
| |
Dividends received – retail |
3,9 |
8,2 |
17,2 |
| |
Merchant’s commission – RCS Group |
19,6 |
19,2 |
39,7 |
| |
Club income – retail |
88,2 |
84,7 |
175,6 |
| |
Club income – RCS Group |
2,9 |
2,7 |
5,5 |
| |
Customer charges income – retail |
8,9 |
8,5 |
16,5 |
| |
Customer charges income – RCS Group |
63,4 |
44,8 |
99,1 |
| |
Insurance income – retail |
46,1 |
18,8 |
80,0 |
| |
Insurance income – RCS Group |
37,7 |
36,8 |
66,0 |
| |
Cellular income – one2one airtime product |
12,2 |
10,4 |
22,6 |
| |
Sundry income – retail |
4,2 |
3,5 |
6,3 |
| |
|
4 663,0 |
4 416,5 |
9 253,6 |
| 5. |
Interest received |
|
|
|
| |
Trade receivables – retail |
245,0 |
176,7 |
385,5 |
| |
Loan receivables |
141,4 |
167,7 |
314,7 |
| |
Private label card receivables |
210,1 |
165,7 |
347,9 |
| |
Sundry – RCS Group |
1,4 |
0,6 |
1,1 |
| |
Sundry – retail |
4,7 |
1,9 |
7,2 |
| |
|
602,6 |
512,6 |
1 056,4 |
| 6. |
Net trading expenses |
|
|
|
| |
Depreciation and amortisation |
(110,7) |
(98,0) |
(204,7) |
| |
Employee costs: normal |
(546,3) |
(500,7) |
(1 053,9) |
| |
Employee costs: bonuses and restraint payments |
(0,7) |
(32,9) |
(35,4) |
| |
Employee costs: share-based payments |
(11,9) |
(15,8) |
(30,7) |
| |
Store occupancy costs: normal |
(314,3) |
(270,6) |
(575,8) |
| |
Store occupancy costs: operating lease liability adjustment |
– |
(12,1) |
(7,7) |
| |
Net bad debt and provision movement |
|
|
|
| |
– retail |
(113,8) |
(101,3) |
(217,2) |
| |
Net bad debt and provision movement |
|
|
|
| |
– RCS Group |
(158,2) |
(89,7) |
(253,7) |
| |
Other operating costs |
(356,8) |
(278,6) |
(489,8) |
| |
Other revenue |
283,2 |
229,4 |
511,3 |
| |
|
(1 329,5) |
(1 170,3) |
(2 357,6) |
| 7. |
Inventory |
|
|
|
| |
Merchandise |
1 204,5 |
1 271,6 |
1 227,5 |
| |
Raw materials |
47,3 |
45,6 |
32,8 |
| |
Goods in transit |
6,5 |
1,2 |
10,0 |
| |
Shopfitting stock |
21,8 |
16,7 |
15,1 |
| |
Consumables |
2,7 |
3,2 |
4,6 |
| |
|
1 282,8 |
1 338,3 |
1 290,0 |
| 8. |
Operating profit before working capital changes |
|
|
|
| |
Operating profit before finance charges |
836,5 |
863,3 |
1 905,5 |
| |
Interest received |
(602,6) |
(512,6) |
(1 056,4) |
| |
Dividends received |
(3,9) |
(8,2) |
(17,2) |
| |
Non-cash items |
123,2 |
125,6 |
242,3 |
| |
Operating profit before working capital changes |
353,2 |
468,1 |
1 074,2 |
|
