| | |
Year ended | |
| | |
30 June | |
| | | 2004 |
|
|
|
2003 |
|
% |
| |
Note |
|
Rm |
|
|
|
Rm |
|
Change |
| Revenue |
|
| 11 281.7 |
|
|
|
10 094.8 |
|
11.8 |
| Turnover | | | 10 648.8
| | | | 9 500.3 |
|
12.1 |
| Cost of merchandise |
| |
7 262.2 | | |
| 6 358.6 |
|
14.2 |
| Gross profit | | | 3 386.6
| | | | 3 141.7 |
|
7.8 |
| Other revenue | | |
632.9 | | | | 594.5 |
|
6.5 |
| Expenses | | | 2 957.7
| | | | 2 848.2 |
|
3.8 |
| Depreciation | |
|
232.8 | | |
|
227.1 |
|
2.5 |
| Occupancy cost | |
|
544.4 | | |
|
512.4 |
|
6.2 |
| Employment cost | |
|
1 303.2 | | |
|
1 276.5 |
|
2.1 |
| Other operating cost | |
|
877.3 | | |
|
832.2 |
|
5.4 |
| |
| Operating profit | | | 1 061.8
| | | | 888.0 |
|
19.6 |
| Interest paid |
| |
108.7 | | |
| 87.4 |
|
24.4 |
| Net profit before exceptional items | |
|
953.1 | | | | 800.6 |
|
19.0 |
| Exceptional items |
2 |
|
(16.4) | |
| |
(22.2) |
| |
| Net profit before tax | | |
936.7 | | | | 778.4 |
|
20.3 |
| Tax |
3 |
| 268.9 |
|
|
|
227.4 |
|
18.2 |
| Net profit after tax | | |
667.8 | | | | 551.0 |
|
21.2 |
| Outside shareholders' interest |
|
|
(1.0) | |
| | (1.4) |
| |
| Net profit attributable to ordinary shareholders |
|
| 666.8 |
|
|
|
549.6 | |
21.3 |
| Reconciliation of headline earnings | | | | | | | | | |
| Attributable earnings - all operations | |
|
666.8 | | | | 549.6 |
|
21.3 |
| Goodwill amortisation | |
|
10.1 | | | | 10.0 | | |
| Loss on disposal of property, plant and equipment | | | | | | | | | |
| net of outside shareholders' interest | |
|
0.1 | | | | 4.9 | | |
| Reversal of provision for loss on discontinuance | | | | | | | | | |
| net of outside shareholders' interest |
|
|
- | |
| | (1.3) |
| |
| Headline earnings |
| |
677.0 | |
| |
563.2 |
|
20.2 |
| Headline earnings per share (cents) | |
|
78.6 | | | | 64.8 |
|
21.3 |
| Earnings per share (cents) | | |
77.4 | | | | 63.3 |
|
22.3 |
| Diluted earnings per share (cents) |
4 |
|
75.3 | | | | 61.9 |
|
21.6 |
| Distributions per share (cents) |
5 |
|
38.5 | | | | 29.0 |
|
32.8 |
| Distribution cover | | |
2.0 | | | | 2.2 | | |
| Number of shares in issue (millions) | |
|
868.3 | | | | 853.1 |
|
1.8 |
| Weighted average number of shares | | | | | | | | | |
| in issue (millions) |
| |
861.2 | |
| |
868.5 |
|
(0.8) |
| GROUP ANALYSIS | | | | | | | | | |
| Revenue | | | | | | | | | |
| Turnover | | |
10 648.8 | | | | 9 500.3 |
|
12.1 |
| Woolworths | |
|
9 715.4 | | |
| 8 430.0 |
|
15.2 |
| - Clothing and home | |
|
4 792.2 | | |
| 4 280.4 |
|
12.0 |
| - Foods | |
|
4 747.1 | | |
| 3 980.8 |
|
19.2 |
| - Logistics services and other | |
|
176.1 | | |
| 168.8 |
|
4.3 |
| Country Road | |
|
933.4 | | |
| 1 070.3 |
|
(12.8) |
| Interest | | |
543.4 | | | | 522.3 |
|
4.0 |
| Other revenue |
| |
89.5 | | |
| 72.2 |
|
24.0 |
| | |
| 11 281.7 |
|
|
|
10 094.8 |
|
11.8 |
| Operating profit | | | | | | | | | |
| Woolworths | | |
1 048.4 | | | | 870.7 |
|
20.4 |
| Country Road |
| |
13.4 | | |
| 17.3 |
|
(22.5) |
| | |
| 1 061.8 |
|
|
|
888.0 |
|
19.6 |
