| (All amounts in Rm’s) | Seven-year compound growth % |
2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | |
Operations |
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| Turnover | 10 | 3 115 | 2 745 | 2 141 | 1 845 | 1 521 | 1 354 | 1 303 | |
| Trading profit | 11 | 905 | 740 | 612 | 523 | 448 | 389 | 361 | |
| Profit before taxation | 13 | 978 | 760 | 632 | 550 | 469 | 404 | 369 | |
| Profit attributable to equity holders of the parent | 14 | 700 | 509 | 444 | 378 | 321 | 273 | 257 | |
| Headline earnings | 13 | 661 | 530 | 436 | 377 | 319 | 274 | 258 | |
| Ordinary dividends paid | 14 | 204 | 157 | 141 | 119 | 101 | 88 | 107 | |
Financial position |
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| Non-current assets | 2 023 | 1 856 | 1 858 | 1 223 | 1 070 | 991 | 939 | ||
| Current assets | 1 079 | 857 | 793 | 1 400 | 1 226 | 1 075 | 994 | ||
| Equity attributable to equity holders of the parent | 2 672 | 2 179 | 2 247 | 1 931 | 1 637 | 1 422 | 1 306 | ||
| Non-current liabilities | 44 | 12 | 53 | 323 | 327 | 344 | 343 | ||
| Current liabilities | 324 | 471 | 293 | 292 | 262 | 239 | 244 | ||
Cash flow |
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| Cash flows from/(utilised by) operating activities | 443 | (127) | 376 | 226 | 254 | (283) | 228 | ||
| Cash flows utilised in investing activities | (175) | (50) | (694) | (148) | (107) | (72) | (71) | ||
| Cash flows (utilised by)/from financing activities | (125) | 123 | (296) | — | (19) | 399 | 229 | ||
| Cash and cash equivalents at end of year | 392 | 249 | 303 | 917 | 839 | 711 | 667 | ||
Financial ratios |
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Returns |
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| Trading profit to turnover (%) | 29,1 | 27,0 | 28,6 | 28,3 | 29,5 | 28,7 | 27,7 | ||
| Return on shareholders’ interest (%)(1) | 28,9 | 23,0 | 21,2 | 21,2 | 21,0 | 20,0 | 20,9 | ||
| Average consumer price index (%)† | 5,1 | 6,0 | 5,5 | 5,5 | 5,0 | 4,2 | 6,9 | ||
| Earnings per share (cents) | 12 | 75,9 | 55,3 | 48,3 | 41,1 | 34,9 | 33,0 | 32,3 | |
| Headline earnings per share (cents) | 11 | 71,6 | 57,6 | 47,4 | 41,0 | 34,7 | 33,1 | 32,4 | |
| Ordinary dividends declared per share (cents) | 11 | 25,0 | 19,0 | 16,0 | 14,0 | 12,0 | 11,0 | 11,0 | |
| Special dividend declared per share (cents) | — | — | 50,0 | — | — | 60,0 | — | ||
Productivity |
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| Turnover per employee (R000’s) | 3 258 | 2 977 | 2 799 | 2 701 | 2 498 | 2 375 | 2 310 | ||
| Total assets per employee (R000’s) | 3 245 | 2 943 | 3 465 | 3 840 | 3 770 | 3 625 | 3 427 | ||
| Trading profit per employee (R000’s) | 947 | 803 | 800 | 766 | 736 | 682 | 640 | ||
| Turnover growth (%) | 13,8 | 28,2 | 16,0 | 21,3 | 12,3 | 3,9 | (20,3) | ||
| Number of employees | 956 | 922 | 765 | 683 | 609 | 570 | 564 | ||
| Number of stores | 126 | 115 | 116 | 112 | 108 | 104 | 101 | ||
| – Owned# | 55 | 55 | 54 | 50 | 47 | 47 | 43 | ||
| – Franchised | 71 | 60 | 62 | 62 | 61 | 57 | 58 | ||
Solvency and liquidity |
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| Interest cover (times)(2) | 150,8 | 37,0 | 36,0 | 21,8 | 18,7 | 14,4 | 9,0 | ||
| Dividend cover (times)(3) | 3 | 3 | 3 | 3 | 3 | 3 | 3 | ||
| Gearing ratio (%)(4) | 1,1 | 7,6 | 2,0 | 17,7 | 20,2 | 24,1 | 26,1 | ||
| Current ratio (times)(5) | 3,3 | 1,8 | 2,7 | 4,8 | 4,7 | 4,5 | 4,1 | ||
| Acid test ratio (times)(6) | 1,9 | 1,0 | 1,6 | 3,6 | 3,8 | 3,6 | 3,3 | ||
| Stock exchange performance | |||||||||
| Market capitalisation+ (Rm’s) | 23 | 10 707 | 7 875 | 5 514 | 5 147 | 4 094 | 3 316 | 2 109 | |
| Closing share price at year end (cents) | 20 | 1 160 | 855 | 600 | 560 | 445 | 360 | 265 | |
| Market value per share | |||||||||
| – High (cents) | 1 325 | 860 | 665 | 570 | 465 | 465 | 330 | ||
| – Low (cents) | 835 | 590 | 550 | 410 | 340 | 260 | 220 | ||
| Closing share price to net asset value per share | 3,92 | 3,53 | 2,40 | 2,57 | 2,39 | 2,88 | 1,57 | ||
| Price-earnings ratio (times) | 15,28 | 15,46 | 12,42 | 13,63 | 12,75 | 10,90 | 8,20 | ||
| Dividend yield (%) | 2,2 | 2,2 | 2,7 | 2,5 | 2,7 | 3,0 | 4,2 | ||
| Earnings yield (%) | 6,5 | 6,5 | 8,1 | 7,3 | 7,8 | 9,2 | 12,2 | ||
| Number of shares in issue (millions)+ | 924 | 921 | 921 | 919 | 920 | 921 | 796 | ||
| Volume of shares traded (millions) | 70 | 20 | 50 | 25 | 34 | 32 | 38 | ||
| Value of shares traded (R000’s) | 763 680 | 147 964 | 304 481 | 115 085 | 128 853 | 111 034 | 103 082 | ||
| Volume of shares traded as a % of total issued shares+ | 7,6 | 2,2 | 5,4 | 2,4 | 3,2 | 3,4 | 4,8 |
| * | Including discontinued operations. |
| + | Excluding treasury shares. |
| † | As per Statistics South Africa. |
| # | Includes CTM and Italtile web stores. |
| (1) | Return on shareholders’ interest: Profit attributable to equity holders of the parent as a percentage of average equity attributable to equity holders of the parent. |
| (2) | Interest cover: Trading profit divided by finance cost. |
| (3) | Dividend cover: Headline earnings per share divided by dividends declared per share (excluding special dividends). |
| (4) | Gearing ratio: Interest-bearing loans and borrowings 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, divided by current liabilities. |
