SIX-YEAR SALIENT FEATURES
for the year ended 31 August

      5-year 2010 2009 2008 2007 2006 2005
      compound            
      annual            
      growth            
      %            
Cash flow                
  Net cash effects of operating activities R’m   188 866 108 1 023 118 (13)
  Capital expenditure R’m 6.3% 231 234 176 155 162 170
  Depreciation and amortisation R’m 5.5% 137 122 103 104 109 105
Performance                
  Turnover growth %   9.0 8.3 1.1 12.0 14.8 8.6
  Comparable stores’ turnover growth %   11.2 13.2 9.2 13.2 9.9 8.9
  Gross profit growth %   15.3 13.2 0.1 13.8 9.8 *
  Gross profit margin %   21.9 20.7 19.8 19.8 19.5 20.4
  Operating margin %   6.2 5.8 5.3 4.8 3.9 3.8
  Inventory days     55 54 55 57 66 76
  Trade debtor days     42 46 44 53 57 41
  Trade creditor days     52 64 52 66 60 62
  Current ratio times   1.0 1.0 1.1 1.1 1.4 1.3
  Return on total assets %   13.9 12.3 10.5 9.3 7.2 6.0
  Return on shareholders’ interest % 29.0% 50.8 42.3 32.8 24.7 16.7 14.2
  Interest-bearing debt to shareholders’ interest at year-end %   11.7 6.0 10.1 4.6 7.4 5.4
  Interest-bearing debt, including cash, to shareholders’ interest at year-end %   (1.7) (30.5) 1.3 (10.2) 13.8 15.1
  Effective tax rate   %   26.8 27.0 24.7 27.0 25.5 30.1
Statistics                
  Number of permanent employees     8 064 7 585 7 122 9 076 9 058 8 947
  Number of stores     561 540 519 665 664 663
  Weighted retail trading area   212 769 204 382 194 888 242 211 237 575 249 417
Share statistics                  
  Number of shares in issue (gross) m   284.0 302.8 324.1 336.0 355.5 370.3
  Number of shares in issue (net of treasury shares) m   266.3 276.3 290.3 316.1 347.6 340.5
  Weighted average number of shares (net of treasury shares) m   271.1 285.2 298.2 336.3 344.3 339.9
  Weighted average diluted number of shares (net of treasury shares) m   272.3 288.3 303.8 346.3 354.4 349.4
  Headline earnings per share – undiluted cents   212.3 167.7 134.0 106.1 73.1 59.0
    – diluted cents 29.8% 211.4 165.9 131.5 103.0 71.0 57.4
  Distribution per share cents 29.0% 106.2 84.0 61.1 48.2 33.2 29.7
  Distribution cover   times   2.0 2.0 2.2 2.2 2.2 2.0
  Share price – closing cents 35.9% 3 750 2 030 1 550 1 525 1 035 810
    – high cents   3 799 2 099 1 799 1 689 1 121 990
    – low cents   1 960 1 192 1 185 984 780 690
  Net asset value per share cents 0.6% 429 407 393 410 459 416
  Net tangible asset value per share cents (0.3%) 271 263 260 260 320 275
  Market capitalisation (gross) R’m 28.8% 10 650 6 148 5 024 5 123 3 679 2 999
  Market capitalisation (net of treasury shares) R’m 29.3% 9 986 5 609 4 500 4 821 3 598 2 758
  Price earnings ratio times 5.3% 17.7 12.2 11.8 14.8 14.2 13.7
  Volume of shares traded m   306.4 222.3 300.3 316.1 226.9 131.9
  Percentage of shares traded %   113.0 77.9 100.7 94.1 65.9 38.8
  Free float (including treasury shares) %   93.5 91.1 89.4 96.7 97.1 98.3
  Shareholders’ return cents   1 826 564 86 538 258 70
    Increase in share price cents   1 720 480 25 490 225 40
    Distribution per share cents   106 84 61 48 33 30
                   
Other information                  
  Inflation rate                  
    CPI   %   3.5 7.7 11.6 5.8 3.9 2.3
    Prime overdraft rate – closing %   10.0 10.5 15.5 13.5 11.5 10.5
    – average %   10.3 13.3 14.7 12.5 10.7 10.8
  FTSE/JSE Africa share indices                  
    All Share Index       27 254 24 929 27 702 28 660 21 954 15 414
    General Retailers Index     9.1% 34 216 24 277 24 909 31 715 23 521 22 163
    Food and Drug Retailers Index     31.0% 51 349 34 405 27 580 23 676 18 136 13 329
  Exchange rates                  
    Rand/US Dollar – closing rate R/US$ 2.6% 7.37 7.77 7.75 7.16 7.19 6.48
  – average rate R/US$ 3.1% 7.27 9.05 7.41 7.20 6.48 6.23
Notes:
1.   The summary of profits includes the results of the Discom business unit as if part of continuing operations, which was disposed of during September 2007.
2. For an explanation of terms used, please refer to the Definitions.
* Not available as 2004 income statement was not restated in accordance with IFRS.