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  • Comprehensive
    Income
  • Statement of
    Financial Position
  • Statement of
    Cash Flows
  • Statement of
    Changes in Equity
  • Segmental
    Analysis
  • Supplementary
    Information
  • Notes
  • Commentary

Consolidated statement of comprehensive income

    Six months to    
  Six months to 28 February   Year to
  29 February 2011   31 August
  2012 (unaudited) % 2011
R’000 (unaudited) (restated)* change (restated)*
Revenue 8 022 039 7 495 901 7.0 14 833 118
Turnover 7 657 499 7 166 768 6.8 14 135 948
Cost of merchandise sold (5 873 924) (5 485 442) 7.1 (10 879 173)
Gross profit 1 783 575 1 681 326 6.1 3 256 775
Other income 361 200 324 266 11.4 688 935
Total income 2 144 775 2 005 592 6.9 3 945 710
Expenses (1 655 839) (1 543 291) 7.3 (3 008 120)
   Depreciation and amortisation (83 309) (72 401) 15.1 (149 714)
   Occupancy costs (229 697) (208 434) 10.2 (422 596)
   Employment costs (817 255) (768 469) 6.3 (1 496 491)
   Other costs (525 578) (493 987) 6.4 (939 319)
         
Operating profit 488 936 462 301 5.8 937 590
Loss on disposal of property, plant and equipment (2 579) (2 509) 2.8 (6 250)
Profit before financing costs 486 357 459 792 5.8 931 340
Net financing costs (25 108) (17 213) 45.9 (33 626)
   Financial income 3 340 4 867 (31.4) 8 235
   Financial expense (28 448) (22 080) 28.8 (41 861)
         
Profit before taxation 461 249 442 579 4.2 897 714
Income tax expense (130 078) (121 690) 6.9 (246 749)
Profit for the period 331 171 320 889 3.2 650 965
Other comprehensive (loss)/income:        
Exchange differences on translation of foreign subsidiaries (93) 66   (220)
Cash flow hedges (3 003)   2 105
Change in fair value of effective portion (4 171)   2 924
Deferred tax on movement of effective portion 1 168   (819)
         
Other comprehensive (loss)/income for the period, net of tax (3 096) 66   1 885
Total comprehensive income for the period 328 075 320 955   652 850
Profit attributable to:        
   Equity holders of the parent 331 085 320 863   650 932
   Non-controlling interest 86 26   33
  331 171 320 889   650 965
Total comprehensive income attributable to:        
Equity holders of the parent 327 989 320 929   652 817
Non-controlling interest 86 26   33
  328 075 320 955   652 850
Earnings per share (cents) 130.8 121.8 7.4 248.3
Diluted earnings per share (cents) 130.8 121.6 7.6 248.0
* Refer note 1.2        


Headline earnings reconciliation

  Six months to Six months to   Year to
  29 February 28 February   31 August
  2012 2011 % 2011
R’000 (unaudited) (unaudited) change (audited)
Total profit for the period attributable to equity holders of the parent 331 085 320 863   650 932
Adjusted for:        
   Loss on disposal of property, plant and equipment 1 857 1 806   4 500
Headline earnings 332 942 322 669 3.2 655 432
Headline earnings per share (cents) 131.6 122.4 7.5 250.1
Diluted headline earnings per share (cents) 131.5 122.2 7.6 249.7