|
|
|
|
|
 |
| |
| (All amounts
in Rm’s) |
Seven-year
compound
growth %
p.a. |
|
2006 |
2005 |
2004 |
2003* |
2002* |
2001* |
2000* |
1999* |
| OPERATIONS |
|
|
|
|
|
|
|
|
|
|
| Turnover |
21% |
|
1
285 |
1 032 |
800 |
749 |
620 |
455 |
423 |
343 |
| Trading profit |
34% |
|
338 |
274 |
214 |
166 |
129 |
82 |
65 |
43 |
| Profit before taxation |
33% |
|
352 |
285 |
222 |
174 |
133 |
85 |
70 |
48 |
| |
|
|
|
|
|
|
|
|
|
|
| Profit attributable to equity
holders of the parent |
32% |
|
233 |
191 |
151 |
118 |
95 |
59 |
49 |
33 |
| Headline earnings |
33% |
|
237 |
190 |
151 |
122 |
95 |
58 |
47 |
33 |
| Dividends paid |
52% |
|
114 |
60 |
26 |
21 |
18 |
11 |
10 |
6 |
| |
|
|
|
|
|
|
|
|
|
|
| FINANCIAL POSITION |
|
|
|
|
|
|
|
|
|
|
| Non-current assets |
|
|
550 |
446 |
330 |
265 |
257 |
209 |
170 |
118 |
| Current assets |
|
|
567 |
520 |
425 |
327 |
301 |
177 |
116 |
93 |
| |
|
|
|
|
|
|
|
|
|
|
| Equity attributable to equity
holders of the parent |
|
|
764 |
634 |
500 |
389 |
326 |
234 |
179 |
139 |
| Non-current liabilities |
|
|
11 |
12 |
9 |
10 |
12 |
7 |
5 |
4 |
| Current liabilities |
|
|
312 |
291 |
232 |
182 |
212 |
139 |
100 |
67 |
| |
|
|
|
|
|
|
|
|
|
|
| CASH FLOW |
|
|
|
|
|
|
|
|
|
|
| Cash flows from operating
activities |
|
|
167 |
205 |
155 |
126 |
98 |
49 |
66 |
22 |
| Cash flows utilised in investing
activities |
|
|
(121) |
(137) |
(88) |
(67) |
(59) |
(45) |
(55) |
(51) |
| Cash flows from financing
activities |
|
|
(4) |
10 |
(2) |
7 |
7 |
10 |
1 |
1 |
| Cash and cash equivalents
at end of year |
|
|
343 |
301 |
223 |
158 |
92 |
46 |
32 |
20 |
|
| |
 |
| |
| |
Seven-year
compound
growth %
p.a. |
|
2006 |
2005 |
2004 |
2003* |
2002* |
2001* |
2000* |
1999* |
| FINANCIAL
RATIOS |
|
|
|
|
|
|
|
|
|
|
| Returns |
|
|
|
|
|
|
|
|
|
|
| Trading profit
to turnover (%) |
11% |
|
26,3 |
26,5 |
26,7 |
22,1 |
20,9 |
18,1 |
15,3 |
12,6 |
| Return on
shareholders’ interest (%) (1) |
|
|
34,5 |
34,8 |
34,8 |
31,1 |
33,5 |
27,7 |
31,3 |
25,8 |
| Average consumer
price index (%) |
|
|
4,9 |
2,6 |
4,8 |
9,6 |
10,6 |
6,9 |
7,0 |
7,1 |
| Earnings
per share (cents) |
32% |
|
1
290,1 |
1
072,8 |
854,6 |
668,1 |
518,3 |
320,1 |
269,5 |
180,4 |
| Headline
earnings per share (cents) |
33% |
|
1
312,3 |
1
069,2 |
856,3 |
691,4 |
518,3 |
317,0 |
254,8 |
180,4 |
| Dividends
declared per share (cents) |
43% |
|
430 |
270 |
160 |
130 |
100 |
60 |
54 |
35 |
| Special dividend
per share |
|
|
|
330 |
140 |
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
| Productivity |
|
|
|
|
|
|
|
|
|
|
| Turnover
per employee (R000’s) |
14% |
|
2
596 |
2
572 |
2
122 |
2
171 |
1
797 |
1
441 |
1
346 |
1
039 |
| Total assets
per employee (R000’s) |
20% |
|
2
257 |
2
394 |
2
003 |
1
718 |
1
617 |
1
222 |
912 |
639 |
| Trading profit
per employee (R000’s) |
27% |
|
683 |
681 |
566 |
479 |
375 |
261 |
206 |
131 |
| Turnover
growth (%) |
|
|
24,5 |
29,6 |
6,8 |
20,9 |
36,1 |
7,8 |
23,2 |
14,9 |
| Number of
employees |
|
|
495 |
403 |
377 |
345 |
345 |
316 |
314 |
330 |
| Number of
stores |
|
|
98 |
101 |
97 |
94 |
91 |
78 |
67 |
61 |
– Owned
and joint
ventures |
|
|
42 |
42 |
36 |
33 |
35 |
34 |
34 |
33 |
| – Franchised |
|
|
56 |
59 |
61 |
61 |
56 |
44 |
33 |
28 |
| |
|
|
|
|
|
|
|
|
|
|
| Solvency
and liquidity |
|
|
|
|
|
|
|
|
|
|
| Interest
cover (times) (2) |
|
|
112,7 |
219,8 |
144,2 |
96,1 |
71,8 |
1
176,5 |
— |
— |
| Dividend
cover (times) (3) |
|
|
3,1 |
4,0 |
5,4 |
5,3 |
5,1 |
5,3 |
4,9 |
5,2 |
| Gearing ratio
(%) (4) |
|
|
1,3 |
1,5 |
1,6 |
2,4 |
3,2 |
1,8 |
— |
— |
| Current ratio
(times) (5) |
|
|
1,8 |
1,8 |
1,8 |
1,8 |
1,4 |
1,2 |
1,2 |
1,4 |
| Acid test
ratio (times) (6) |
|
|
1,3 |
1,3 |
1,3 |
1,3 |
0,8 |
0,6 |
0,5 |
0,5 |
| |
|
|
|
|
|
|
|
|
|
|
| Stock
exchange performance |
|
|
|
|
|
|
|
|
|
|
| Market capitalisation#
(Rm’s) |
36% |
|
3
391 |
2
364 |
1
368 |
1
179 |
842 |
678 |
659 |
403 |
| Closing share
price at year end (cents) |
30% |
|
18
790 |
13
300 |
7
750 |
6
700 |
4
600 |
3
700 |
3
600 |
2
200 |
| Market value
per share |
|
|
|
|
|
|
|
|
|
|
| – High
(cents) |
|
|
20
900 |
14
000 |
7
870 |
6
700 |
4
700 |
4
000 |
3
700 |
2
350 |
| – Low
(cents) |
|
|
13
300 |
7
627 |
5
120 |
4
600 |
3
500 |
3
300 |
2
150 |
1
590 |
| |
|
|
|
|
|
|
|
|
|
|
| Closing share
price to net asset value per share |
|
|
4,28 |
3,57 |
2,66 |
2,86 |
2,51 |
2,81 |
3,64 |
2,81 |
| Price earnings
ratio (times) |
|
|
14,57 |
12,40 |
9,07 |
10,0 |
8,9 |
11,6 |
13,6 |
12,2 |
| Dividend
yield (%) |
|
|
2,3 |
2,6 |
2,1 |
1,9 |
2,2 |
1,6 |
1,5 |
1,5 |
| Earnings
yield (%) |
|
|
6,9 |
8,1 |
11,0 |
10,0 |
11,3 |
8,7 |
7,5 |
8,0 |
| Number of
shares in issue (000) |
|
|
18
048 |
17
771 |
17
646 |
17
604 |
18
311 |
18
311 |
18
311 |
18
311 |
| Volume of
shares traded (000) |
|
|
520 |
707 |
398 |
242 |
590 |
464 |
501 |
574 |
| Value of
shares traded (R000’s) |
|
|
94
921 |
77
466 |
27
570 |
13
671 |
23
462 |
16
772 |
13
262 |
11
374 |
Volume
of shares traded as
a % of total issued shares |
|
|
2,9 |
3,9 |
2,3 |
1,3 |
3,2 |
2,5 |
2,7 |
3,1 |
|
| |
| Definitions |
| |
(1) |
Return on shareholders’
interest: Profit for the year as a percentage
of average equity attributable to equity holders
of the parent. |
| |
(2) |
Interest cover:
Trading profit divided by interest paid. |
| |
(3) |
Dividend cover:
Headline earnings divided by dividends declared
(excluding special dividends). |
| |
(4) |
Gearing ratio:
Interest bearing debt as a percentage of equity
attributable to equity holders of the parent. |
| |
(5) |
Current ratio:
Current assets divided by current liabilities. |
| |
(6) |
Acid test ratio:
Current assets, less inventory, dividend by current
liabilities. |
|
* Historical ratios relating
to 1998 to 2003 were not restated to reflect subsequent
changes in accounting policies.
# Excluding treasury shares |
|
|
|
|
|