| |
|
|
|
Restated |
|
|
| |
|
|
2009 |
2008 |
|
% |
| |
Note |
|
Rm |
Rm |
|
change |
| Revenue |
|
|
21 922.3 |
21 752.5 |
|
0.8 |
| Turnover |
|
|
21 175.0 |
20 064.9 |
|
5.5 |
| Cost of sales |
|
|
14 501.1 |
13 798.3 |
|
5.1 |
| Gross profit |
|
|
6 673.9 |
6 266.6 |
|
6.5 |
| Other revenue |
|
|
747.3 |
1 687.6 |
|
(55.7) |
| Expenses |
|
|
5 783.7 |
5 955.0 |
|
(2.9) |
| Store costs |
|
|
3 481.9 |
3 118.1 |
|
11.7 |
| Net bad debts and bad debt provisions |
|
|
134.2 |
584.3 |
|
(77.0) |
| Other operating costs |
|
|
2 167.6 |
2 252.6 |
|
(3.8) |
| |
|
|
|
|
|
|
| Operating profit |
|
|
1 637.5 |
1 999.2 |
|
(18.1) |
| Finance costs |
|
|
281.2 |
502.5 |
|
(44.0) |
| Earnings from joint ventures |
|
|
58.1 |
– |
|
|
| Earnings from associate |
|
|
11.7 |
1.0 |
|
|
| Profit before exceptional item |
|
|
1 426.1 |
1 497.7 |
|
(4.8) |
| Exceptional item |
8 |
|
380.0 |
– |
|
|
| Profit before tax |
|
|
1 806.1 |
1 497.7 |
|
20.6 |
| Tax |
4 |
|
546.3 |
552.5 |
|
(1.1) |
| Profit after tax |
|
|
1 259.8 |
945.2 |
|
33.3 |
| Attributable to: |
|
|
|
|
|
|
| Shareholders of the parent |
|
|
1 247.7 |
936.7 |
|
33.2 |
| Minority shareholders |
|
|
12.1 |
8.5 |
|
42.4 |
| Reconciliation of headline earnings |
|
|
|
|
|
|
| Earnings attributable to shareholders of the parent |
|
|
1 247.7 |
936.7 |
|
33.2 |
| BEE preference dividend paid |
|
|
(8.6) |
(6.7) |
|
|
| Basic earnings |
|
|
1 239.1 |
930.0 |
|
|
| Profit on disposal of controlling interest in subsidiary |
|
|
(380.0) |
– |
|
|
| Loss on disposal of property, plant and equipment |
|
|
3.5 |
0.8 |
|
|
| Total tax impact of adjustments |
|
|
(1.0) |
(0.2) |
|
|
| Headline earnings |
|
|
861.6 |
930.6 |
|
(7.4) |
| Unrealised foreign exchange loss |
|
|
56.9 |
(2.1) |
|
|
| STC on share repurchase |
|
|
– |
20.0 |
|
|
| STC on special dividend |
|
|
75.0 |
– |
|
|
| Adjusted headline earnings* |
|
|
993.5 |
948.5 |
|
4.7 |
| Headline earnings per share (cents) |
|
|
109.3 |
114.9 |
|
(4.9) |
| Earnings per share (cents) |
5 |
|
157.2 |
114.8 |
|
36.9 |
| Adjusted headline earnings per share (cents) |
|
|
126.0 |
117.1 |
|
7.6 |
| Adjusted headline earnings per share based on 52 weeks’ comparative basis (cents) |
|
|
126.0 |
110.6 |
|
13.9 |
| Diluted headline earnings per share (cents) |
|
|
107.5 |
112.1 |
|
(4.1) |
| Diluted earnings per share (cents) |
5 |
|
154.0 |
112.0 |
|
37.5 |
| Adjusted diluted headline earnings per share (cents) |
|
|
123.7 |
114.3 |
|
8.2 |
| Distribution per ordinary share (cents) |
|
|
|
|
|
|
| |
Ordinary |
|
|
85.0 |
79.0 |
|
7.6 |
| |
Special |
|
|
94.0 |
– |
|
100.0 |
| Distribution cover (based on headline earnings per share
excluding special dividend) |
|
|
1.3 |
1.5 |
|
(13.3) |
| Distribution per preference share (cents) |
|
|
17.3 |
11.1 |
|
55.9 |
| Number of shares in issue (millions) |
|
|
774.7 |
795.5 |
|
(2.6) |
| Weighted average number of shares in issue (millions) |
|
|
788.3 |
809.9 |
|
(2.7) |
|
| GROUP ANALYSIS |
|
|
|
|
|
|
| Revenue |
|
|
|
|
|
|
| Turnover |
|
|
21 175.0 |
20 064.9 |
|
5.5 |
| Woolworths |
|
|
18 839.2 |
18 146.5 |
|
3.8 |
| – Clothing and home |
|
|
7 321.6 |
7 409.8 |
|
(1.2) |
| – Foods |
|
|
11 126.1 |
10 360.3 |
|
7.4 |
| – Logistics services and other |
|
|
391.5 |
376.4 |
|
4.0 |
| Country Road |
|
|
2 335.8 |
1 918.4 |
|
21.8 |
| Interest |
|
|
560.6 |
1 359.8 |
|
(58.8) |
| Other revenue |
|
|
186.7 |
327.8 |
|
(43.0) |
| |
|
|
21 922.3 |
21 752.5 |
|
0.8 |
| Operating profit |
|
|
|
|
|
|
| Woolworths |
|
|
1 498.4 |
1 897.2 |
|
(21.0) |
| Country Road |
|
|
139.1 |
102.0 |
|
36.4 |
| |
|
|
1 637.5 |
1 999.2 |
|
(18.1) |
