annual report 2003
Woolworths Holdings Limited - WHL
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notes to the annual financial statements

Index | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16
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32.  Segmental information

32.1 Primary segmentation based on retail chain
Group
 Total
Rm		  2003
Woolworths
operating
group
Rm		  Country
Road
Rm		 Total
Rm		 2002
Woolworths
operating
group
Rm		 Country
Road
Rm
Operating results -               
continuing operations               
Revenue  10 094.8   9 012.9   1 081.9  8 825.6  7 700.7  1 124.9 
Turnover  9 500.3   8 430.0   1 070.3  8 421.4  7 302.0  1 119.4 
Cost of merchandise  6 358.6   5 845.9   512.7  5 571.8  5 010.8  561.0 
Gross Profit  3 141.7   2 584.1   557.6  2 849.6  2 291.2  558.4 
Other revenue  594.5   582.9   11.6  404.2  398.7  5.5 
Expenses  2 848.2   2 296.3   551.9 2  568.6  2 026.8  541.8 
Operating profit before               
interest and exceptional items  888.0   870.7   17.3  685.2  663.1  22.1 
Interest paid  87.4   81.7   5.7  44.5  37.6  6.9 
Profit after interest before               
exceptional items  800.6   789.0   11.6  640.7  625.5  15.2 
Exceptional items  (23.7)   (23.7)   -  (41.5)  (41.5)  - 
Net profit before tax  776.9   765.3   11.6  599.2  584.0  15.2 
Tax  227.4   225.9   1.5  203.6  202.8  0.8 
Net profit after tax  549.5   539.4   10.1  395.6  381.2  14.4 
Outside shareholders' interest  (1.2)   -   (1.2)  (2.1)  (0.3)  (1.8) 
Net profit from               
continuing operations  548.3   539.4   8.9  393.5  380.9  12.6 
Operating results -               
discontinued operations               
Net profit/(loss) from               
discontinued operations after               
outside shareholders' interest  1.3   -   1.3  (135.5)  -  (135.5) 
Net profit/(loss) attributable to               
ordinary shareholders  549.6   539.4   10.2  258.0  380.9  (122.9) 

 

      Group
 Total
Rm		  Inter-
company
Rm		  2003
Woolworths
operating
group
Rm		  Country
Road
Rm		 Total
Rm		 Inter-
company
Rm		 2002
Woolworths
operating
group
Rm		 Country
Road
Rm
Balance sheets                    
Property, plant and equipment,                    
investments, deferred tax,                     
loans and goodwill  1 556.8   (451.4)  1 878.5   129.7   1 535.2  (459.9)  1 851.1  144.0 
Inventories  564.4   -   433.3   131.1  511.2  -  339.1  172.1 
Accounts receivable  2 430.5   -   2 379.4   51.1  1 897.3  -  1 840.6  56.7 
Tax  24.4   -   24.2   0.2  1.6  -  0.7  0.9 
Bank balances and cash   216.0   -   164.2   51.8  118.5  -  86.4  32.1 
Total assets  4 792.1   (451.4)   4 879.6   363.9  4 063.8  (459.9)  4 117.9  405.8 
Accounts payable and tax   1 343.9   -   1 215.7   128.2  907.0  -  773.0  134.0 
Post-retirement                    
medical aid liability  130.8   -   130.8   -  111.0  -  111.0  - 
Borrowings  729.7   (50.1)   729.6   50.2  480.2  (58.6)  480.2  58.6 
Deferred tax  154.3   -   154.3   -  189.8  -  189.8  - 
Total shareholders' interest  2 433.4   (401.3)   2 649.2   185.5  2 375.8  (401.3)  2 563.9  213.2 
Cash generated by operations   688.3   -   630.5   57.8  345.4  -  294.6  50.8 
Depreciation -                    
continuing operations  227.1   -   199.8   27.3  213.5  -  186.8  26.7 
Impairment property  -   -   -   -  17.2  -  17.2  - 
Capital expenditure -                    
gross additions  414.1   -   377.9   36.2  335.0  -  273.7  61.3 
Capital commitments  189.2   -   152.6   36.6  237.9  -  196.7  41.2 
Shareholding  100.0%   87.9%   100.0%   87.9%         

 

32.2 Secondary segmentation based on geographic location of customers and assets
Group
 Total
Rm		  2003
Woolworths
operating
group
Rm		  Country
Road
Rm		 Total
Rm		 2002
Woolworths
operating
group
Rm		 Country
Road
Rm
Revenue               
Continuing operations               
  South Africa  8 760.9   8 760.9   -  7 498.5  7 498.5  - 
  Rest of Africa  196.2   196.2   -  141.2  141.2  - 
  Middle East  59.0   55.8   3.2  61.0  61.0  - 
  Australasia  1 078.7   -   1 078.7  1 124.9  -  1 124.9 
 10 094.8   9 012.9   1 081.9   8 825.6   7 700.7   1 124.9 
Discontinued operations - USA   -   -   -  195.1  -  195.1 
 10 094.8   9 012.9   1 081.9  9 020.7  7 700.7  1 320.0 
Turnover - based on location               
of end user/customers               
Continuing operations               
  South Africa  8 178.0   8 178.0   -  7 099.8  7 099.8  - 
  Rest of Africa  196.2   196.2   -  141.2  141.2  - 
  Middle East  59.0   55.8   3.2  61.0  61.0  - 
  Australasia  1 067.1   -   1 067.1  1 119.4  -  1 119.4 
 9 500.3   8 430.0   1 070.3  8 421.4  7 302.0  1 119.4 
Discontinued operations - USA  -   -   -  195.1  -  195.1 
 9 500.3   8 430.0   1 070.3  8 616.5  7 302.0  1 314.5 
Total assets - based on location of assets                
  South Africa  4 428.2   4 428.2   -  3 658.0  3 658.0  - 
  Australasia  363.9   -   363.9  405.8  -  405.8 
 4 792.1   4 428.2   363.9  4 063.8  3 658.0  405.8 
Capital expenditure (gross) -               
based on location of assets               
  South Africa  377.9   377.9   -  273.7  273.7  - 
  Australasia  36.2   -   36.2  61.3  -  61.3 
 414.1   377.9   36.2  335.0  273.7  61.3